Crown Prince Mohammed bin Salman

Saudi Crown Prince Mohammed bin Salman announced the national aspirations and priorities for the research, development and innovation sector in the Kingdom over the next two decades, the state-owned SPA reported.

Four priorities were set as human health, the sustainability of environment and basic needs, leadership in energy and industry and future economics. They aim to enhance the Kingdom’s global competitiveness and leadership, in line with Vision 2030.

Ambitious aspirations were adopted for the research, development and innovation sector, to place the Kingdom about the world’s innovation pioneers. The annual spending on the sector will account for 2.5% of the Kingdom’s gross domestic product (GDP) by 2040. The sector will contribute to developing and diversifying the national economy by adding SAR 60 billion to GDP by 2040. Moreover, thousands of high-value, quality jobs will be introduced in sciences, technology and innovation, Crown Prince Mohammed bin Salman added.

To achieve these goals, theresearch, development, and innovation sector was restructured with the formation of a higher committee headed by the Crown Prince.

The committee will enable legislation and regulatory standards in addition to project and budget allocation and performance monitoring.

Moreover, the best national and global talents will be attracted. Cooperation will be also strengthened with leading research center, global companies, the non-profit and private sectors, which are deemed a basic partner of leading research and development, and increasing investment in the sector.

Human health: It is placed on top of the Kingdom’s national priorities, based on the importance of health preservation. This is also driven by Kingdom’s advanced infrastructure for academic, medical research.

The Kingdom also aims to achieve a longer and healthier life for its residents by finding radical solutions for chronic and non-communicable diseases.

Sustainability of environment and basic needs: the Kingdom aims to contribute to overcome the challenges of water shortage and food security worldwide.

Leadership in energy and industry: Saudi Arabia aims to continue its leadership of energy markets to become a global industrial power through innovating technologies for alternative energy production, such as green hydrogen, as well as solar and wind power.

Future Economies: The Kingdom aims to secure the life of future generations through investments in projects, such as NEOM and The Red Sea. Termed ‘future economies,’ this area will prioritize the promotion of digital technologies in the priority sectors and aim to develop human-friendly futuristic cities that are smart and free of carbon emissions