The Saudi Crown Prince announces an increase in spending on innovation of 2.5% of GDP
Saudi Crown Prince Mohammed bin Salman announced on Thursday, aspirations and the national priorities for research, development and innovation in the Kingdom for the next two decades, It includes increasing spending on the innovation sector for 2.5% of GDP to diversify the Saudi economy.
The national priorities announced by the Crown Prince of Saudi Arabia are based on four major priorities: Human health, the sustainability of the environment, the basic needs, the leadership in energy and industry, And the economies of the future, "to enhance the Kingdom's competitiveness globally and its leadership; and is in line with the vision of the Kingdom's 2030 vision and the enhancement of its position as the largest economy in the region.
According to the official Saudi Press Agency (SPA).
he Crown Prince said at the beginning of the announcement of national aspirations and priorities: "We adopted ambitious aspirations for the research, development and innovation sector, for the Kingdom to become one of the pioneers of innovation in the world, and annual spending on the sector will reach 2.5% of the GDP in 2040, the sector will contribute to the development and diversification of the Saudi economy by adding 60 billion Saudi riyals to GDP in 2040.. And the creation of thousands of high -value functions in science, technology and innovation.
Restructuring the research and development sector
Within the framework of national priorities, the research, development and innovation sector was restructured, the formation of a higher committee headed by the Crown Prince to supervise the sector and set priorities and national aspirations for research, development and innovation in the Kingdom, according to the agency.
Just as a development Authority for the Research, Development and Innovation has been established that will work as an enabler and legislator to organize the sector, and will develop programs and projects, distribute budgets and monitor performance.
We will also work to attract the best national and international talents; In addition to strengthening Cooperation with major research centers, global companies, the non -profit sector and the private sector.. the two main partners for the leadership of research, development and increased investment in the sector.
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Energy and future economics
The Kingdom is targeting through the priority of "leadership in energy and industry" the continuity Its leadership of energy markets and make it global industrial power by creating energy production techniques' alternatives, such as green hydrogen, solar energy, wind energy, and ensuring the sustainability of demand on oil, and directing the industrial sector in the Kingdom to produce technically advanced and highly valuable industries.. In addition to developing the mining sector competitively and in a sustainable manner.
The priority of "future economies" aims to enhance innovation in digital technologies in priority sectors, developing the future of urban life and building smart cities that are friendly to humans..with free carbon emissions, in addition to exploring the depths of the seas and building a global position for the Kingdom in the field of space.
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