Crucial role of higher education in regional economic development some suggestions for strengthening the relationship

This paper analyzes the relationship between, higher education institutions (HEIs) and regional economic development, focusing on the evolvement of various systems of higher education, and stressing that strengthening higher education is a key strategy for successful economic development. Further, this paper investigates and studies the crucial factors that enable certain national higher educational systems to achieve a high level of success and which promote economic development, while addressing the needs and objectives of specific countries and/or regions. The paper posits that the values of academic freedom must occupy the highest priority in educational systems that aspire to promote its national and/or regional goals for sustainable economic development. This paper further argues that the essential progressive need to promote academic freedom in higher education, which is necessary for all successful colleges and universities. This, in turn, will enable them to encourage and prepare research personnel, business leaders, and entrepreneurs, while developing cutting-edge innovations and industries. Finally, this paper seeks to identify and discuss specific strategies and programs that have proven successful in certain regions/countries and thatcan be adapted to the current educational needs of growing and vibrant countries such as China.