Muslim countries must provide youth with skills they need to realise potential

However, though the problem remains the most acute in the Arab world, globally, the number of youths out of work has risen as a result of the global financial crisis. The unemployment rate in the eurozone hit new highs in October. The hardest hit is Spain, where nearly five million people are now jobless, with one person in four out of work. Though the protests and strikes in Europe have been as much about the deep spending cuts as they have been about the record levels of unemployment, there is no doubt that access to jobs and stable employment is vital. Youth unemployment accentuates deeper economic and social grievances and makes countries more vulnerable to political instability.

Fortunately, Malaysia is not in the same situation as most of the Muslim world with regards to employment or growth as demonstrated by the six fresh partnerships that were signed on the first day of the WIEF, bringing RM28 billion worth of investment into the Iskandar economic zone. Nevertheless, though the present prospects for growth are far from encouraging, the future of Muslim countries depends on whether they can equip the current generation of young Muslims with the education and skills they need to realise their potential. For this reason, growing the economy and creating jobs should be at the the heart of their policies. Without determined action, the already bleak outlook on growth and jobs can only get worse. As Najib said, it is up to the leaders to embrace new technologies, open up the economy, and reform politics.

THE accent of the keynote address by Prime Minister Datuk Seri Najib Razak at the 8th World Islamic Economic Forum on Tuesday was very much on the young and the restless. The "youth bulge" in Muslim countries gave weight to his emphasis on capitalising on the "untapped"  potential of the young. But he also had in mind the "toxic" example of the high levels of youth unemployment in the Middle East and North Africa. Lest we forget, the Arab Spring was driven in part by despair of  the young over the dearth of jobs and poor prospects for the future. It was in December 2010 that a young Tunisian street vendor set himself on fire and sparked the fall of President Zine El Abidine and the subsequent protests in several Arab countries. As the report by the International Labour Organisation in May showed, the Arab Spring has made the jobless problem worse. The unrest and the unstable political transition in the Arab world slowed down the economy, damaged tourism and dented investment. The crisis in the eurozone countries hurt growth and job prospects further.