Investing in people and skills is a main objective of the “eEurope Initiative”. The European Union set as a priority objective for Europe to become “…a competitive and dynamic knowledge-based economy”. A special attention is given to the development of pro-active strategies and policies for the Central European EU accession candidate countries including Romania. The paper focuses on investments in education. It reveals the implications of the global revolution in knowledge for the development of knowledge & information based society. Globalization on Information and Communications Technologies (ICT) are creating new opportunities for growth and development in the new economy. A well-educated and skilled population contributes to create, share, use and manage knowledge as a critical requisite for a country to participate in the global knowledge economy. A network of universities, research centres, private enterprises and community groups can facilitate the effective communication, dissemination and processing of knowledge and information.