Economic development is one of the technology-based economic measures to move from one economic situation to another. Economic development as the process aimed at promoting the growth of the economy of the state, that the application of many of the development plans, which make it more advanced and sophisticated, which affects the society positively, through the implementation of a range of economic strategies are successful, and also known as groups seek to increase their economic capacity to take advantage of the wealth available in their environments, specifically in areas in which the absence of economic diversity influence negatively on the local environment General.
Characteristics of Economic Development
Economic Development has many characteristics, we will discuss as follow:
-Interest in achieving those goals based on an appropriate business strategy, which aims to reach the required rate of economic growth.
-The trend towards an improved domestic environment of the community and local economic sector of the state, and developed.
-The efforts of’s own economic; for an economic development planning application in government, economic institutions interested in pursuing economic growth to continue.
-to ensure the exploitation of resources and enhanced capabilities for the role of industry, agriculture, and local trade, as requested by the economic reality of the means and tools that enable the rise of all types of business.
-The use of technology and advanced electronic devices, They provide appropriate support for economic development, through investment in capabilities, capacities and diverse scientific knowledge, which contributes to the development of many areas, and one of the most important: Research and Education.
Economic Development Goals
Economic Development Seek to some goals as follows:
rising national income: This is the main goal, one of the goals for economic development, contributing to the development of the standard of living individuals, and promote the structural composition of commerce and industry, which help to address the problems caused by the weak domestic economy.
The exploitation of natural resources: This goal is to strengthen the presence of the domestic and international investments to the natural resources within the territory of the states; By supporting public infrastructure, and providing appropriate tools that provide support for production, and public services.
support capital: This goal is to provide adequate support to the public equity, which is vulnerable and helpless; because of lack of savings associated with financial reserves in the central bank, commercial banks involving money as a regular, or miscellaneous securities, such as Bonds.
Interest in trade: This goal for the development of trade, and is interested in pursuing exports, and commercial imports adopted boost trade between the developing states and other states; in particular those that purchase exports at affordable prices help to provide support for basic needs of the population.
Tackling corruption rules: and that attention to the development of laws and legislation, would limit the spread of corruption, which affects the stability of the economic sector, and exploit its resources, contribute to such treatment in the development of the local economy, and promote the growth and prosperity in all areas.
The department of foreign debt: This goal is to follow up on the amount of money the city for developing country governments, and the desire to find the means of appropriate ways to pay their debts, which contributes to promoting economic growth and increased expenditure on production.