RIYADH: More than 50 cooperation and research partnership agreements were signed between universities and various sectors at the Sustainable Partnerships Conference held in Riyadh.
The two-day conference, held under the theme “Research and Innovation Towards A Prosperous Economy” was part of an initiative spearheaded by the Ministry of Education to foster ties between Saudi universities and the industrial and development sectors.
The event hosted 150 ministers, decision-makers, local and international leaders — of which 100 were from the industrial and development sector — and 40 Saudi universities and colleges.
Some 1,000 research products and industrial models for universities were presented, according to the Saudi Press Agency.
On the sidelines of the conference, 40 training workshops specialized in research and innovation were held, along with 25 dialogue sessions, in addition to a presentation of 220 scientific inventions through the “Promising Technologies and Innovations” exhibition for the country’s citizens and graduates of Saudi universities.
The conference also saw the Saudi Minister of Investment Khalid Al-Falih announce a new strategy for research and development would soon be launched in the Kingdom.
Saudi Arabia’s Minister of Industry and minimal resources Bandar Al-Khorayef also addressed the forum, revealing that a budget for research and development will be allocated soon.
Al-Khorayef pointed out that the innovation strategy will enhance Saudi Arabia’s exports, and will contribute to national gross domestic production.
According to SPA, the Ministry of Education sought to use the conference — the first of its kind in the Kingdom — to not only strengthen the links between the higher education sector and industry, but also to identify research and innovation needs of national priority and provide effective solutions to them.
The event was held with a growing focus on Saudi Arabia’s R&D sector, as the Kingdom seeks to diversify its economy away from oil in keeping with the Vision 2030 program.
Saudi Arabia is aiming to become one of the top 10 countries in the Global Competitive Index by the end of this decade, increasing from 24th in 2022.
