The Life: Education is the bedrock of a country's economy, says Fadi Ganni, chief executive of Morgan International, a provider of educational and training services. He explains why and discusses how the UAE is faring.
Learning as wealth for Emirates' future
Education is the bedrock of a country's economy, so says Fadi Ganni, the chief executive of Morgan International, a provider of educational and training services. He explains why and discusses how the UAE is faring.
How important is education in the economy of a country?
Very important. Education is the base for the economic well-being of a country. The literature on this subject emphasises at least three mechanisms through which education may affect economic growth.
What are they?
One is that it can increase the human capital. What I mean by that is you will build the technical knowledge of the staff, by which they become more productive, which will transition into better growth in the economy and better output. On the second level, I think as well with the globalisation, technology and education ... moving forward at a fast pace as the technology, it will lead to innovation in the economy in doing things differently. Third, which is the most important, is the transition of knowledge … It will enhance the economy and thus it has an impact on the country.
How good is the level of education here?
It is good compared to other markets we have been operating with. I cannot make a general statement whether it's good or bad. What I can say is, if you look at our statistics in passing rates, it is in line with the western world and other markets around the world. In the UAE, you have the expatriate community who play a role in the education.
It may be good already, but it can always improve. So what needs to be done?
I think [the Government's] long-term vision is right on spot, where they are building a solid educational infrastructure. What needs to be done is for the Government to continue developing in that process. What I mean by that is: globally, if you look around the world now, the two fastest growing industries are education and healthcare. The UAE is no different from the rest of the world. But what needs to be done since the global market is becoming more and more demanding with the rise in competition … the UAE has to continue on that path and continue to improve and enhance the education system.
Have you noticed more demand for your services in line with the rise in the quality of education?
At the corporate side, we have seen more and more companies having a better understanding of the needs of the staff to have a better education, and, specifically, when we go into professional education, we have been seeing government entities … paying more attention to this area. We have a lot of government entities now as clients. And we have seen it on the … individual side where people on their own understand that in order for me to excel in my profession, I would be required to have this certification for this or that. On all levels we have been witnessing that.
* Gillian Duncan