Dubai, UAE; February 10, 2014

An entrepreneurial spirit among citizens will be the key to developing good governance, said the head of the World Economic Forum at the second annual Government Summit in Dubai.

"Today, we are living in the Governance 2.0 world characterised by new technologies that provide services and bring about an interactive relationship between the leadership and its citizens," said Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, in his keynote speech at the Government Summit. "This is much like a Google search bar--you type something in, and you get the best possible result for your query."

The next stage of governance, explained Schwab, will be characterized by citizens who are the co-owners and shapers of the future. "Governance 3.0 will be a platform where people can provide feedback, much like YouTube."

Technological advancements over the last two decades such as the internet and social media have made the world an increasingly complex place, explained Schwab, and having the right people to deal with a rapidly changing environment will be the key challenge for the future. "The next scarce resource is talent, not capital," said Schwab.

Schwab also emphasised that there are unforeseen complexities that modern governments have to deal with, highlighting the 2011 Fukushima nuclear disaster in Japan. "What started as a tsunami, led to the collapse of an energy system. This, in turn, led to the collapse of the country's industry and supply systems."

"My concern is that today, the world economy is growing at a relatively lower rate than before," said Schwab. Before the worldwide economic downturn in 2007, the global economy was growing at 5% every year. Post- recession, global growth rates have stood at 3%. The pre- 2007 growth rate would have doubled the world's gross domestic product (GDP) within 12 years, whereas the lower growth rates will take twice as long to achieve the same result. "This has a direct impact on the availability of jobs and unemployment," he said.

Emphasis on education by the government is the solution to overcoming these challenges, advised Schwab. "Life- long education that encourages creativity, innovation and entrepreneurship is the key to developing the talent of tomorrow," he said.

The success of the government of the future will hinge on an educated talent pool that can evolve with the complex and rapid changes of political, economic and natural environments or what he refers to as "entrepreneurs in public service," concluded Schwab.

Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates, the second annual Government Summit will host over 3,600 delegates over three days. The event brings together over 60 speakers from the government, business, transport and education sector.

-Ends-

For further information, please contact:
Nedal Alasaad / Samer El Zein,
ASDA'A Burson-Marsteller,
Tel: (971 4) 4507600
Fax: (971 4) 4358040
Email: nedal.alasaad@bm.com ,samer.elzein@bm.com

© Press Release 2014