Saudi Arabia jumps 15 ranks in the Global Innovation Index

The national aspirations for research, development, and innovation in Saudi Arabia jumped 15 ranks in the Global Innovation Index for the year 2022 issued by (WIPO).

This was less than a year after the Crown Prince, Chairman of the Supreme Committee for Research, Development, and Innovation announced.

the Crown Prince announced Last June, the national aspirations and priorities for research and innovation in KSA for the next two decades.

Priorities & goals of KSA in the coming years

The priorities are: human health, environmental sustainability, basic needs, leadership in energy and industry, and future economics.

It aims to enhance Saudi global competitiveness and leadership, in line with Kingdom’s Vision 2030.

Additionally, the kingdom also is looking forward to strengthening its position in the region.

Saudi Arabia’s national aspirations in the innovation field aim to become one of the pioneers of innovation in the world.

Basically, the annual spending on the sector of innovation will reach 2.5% of GDP in 2040.

It will contribute to diversifying the national economy by adding 60 billion Saudi riyals to the gross domestic product in 2040.

This development will help create thousands of qualitative, high-value jobs in science, technology, and innovation.

According to a report published by Forbes magazine, Saudi Arabia is one of the fastest-transforming countries in the world.

The achievements of KSA in the economic development

This is the result of diversified economies by entering into new sectors that will develop the national innovation system

The leap that Saudi Arabia achieved in 2022 in the Global Innovation Index is the best evidence of the extent of the development taking place.

In its report, which included the contributions of 10 Saudi companies to innovation issues, Forbes cited Saudi Aramco.

The total number of patents Aramco obtained from its founding in 1933 until 2010 was about 100 patents.

In 2021 alone, the company obtained 864 patents from the US Patent and Trademark Office.

Thus, it has reached the first rank in the oil and gas sector in the world and entered the list of the top 50 companies and universities that obtained patents this year.

In 2022, the company will enhance its efforts in research and innovation, with the number of patents increasing to 963.

In terms of digital infrastructure, Saudi Arabia ranked second among the G20 countries, according to the 2021 Digital Competitiveness Report.

Saudi Arabia has focused its innovation efforts on sustainability.

it announced its commitment to increase the percentage of energy generation from renewable sources to reach 50% by 2030.

In the coming years, Saudi Arabia is preparing to achieve zero neutrality by 2060.

In the same context, the Saline Water Conversion Corporation (SWCC) entered the Guinness Book of Records.

It achieved a new record for being the lowest energy-consuming desalination plant in the world.

(SWCC) reached the rate of 2.27 kilowatt-hours per cubic meter of desalinated water.

(RDIA), and Forbes Middle East, sought through this report to review the 10 most innovative companies in KSA

The list included (Aramco, SABIC, NEOM, STC, Ma’aden, Almarai, Al Rajhi Bank, Al Habib Medical Group, ACWA Power, and Al Ahli Bank).