Saudi Press

Saudi Arabia and the world
Sunday, Apr 02, 2023

Saudi Arabia jumps 15 ranks in the Global Innovation Index

Saudi Arabia jumps 15 ranks in the Global Innovation Index

Saudi Arabia has jumped 15 ranks in the Global Innovation Index for the year 2022, issued by the World Intellectual Property Organization (WIPO).
This comes within less than a year after Crown Prince and Prime Minister Mohammed Bin Salman, who is also chairman of the Supreme Committee for Research, Development and Innovation, announced the national aspirations and priorities for research, development and innovation (RDI).

According to Forbes magazine, Saudi Arabia is considered as one of fastest transforming countries in the world, and that results from its work in diversifying its economies by entering new sectors that have contributed in developing the national innovation system during the past decade.

This jump that the Kingdom achieved in the year 2022 in the Global Innovation Index proves the size of the development taking place in the fields of research, development and innovation.

During the previous days, Forbes had released a report mentioning the 10 Most Innovative Companies in Saudi Arabia, indicating that the total number of patents that Aramco obtained since its establishment in 1933 until 2010 is about 100 patents.

Aramco also obtained 864 patents from the US Patent and Trademark Office, all in 2021, taking it to the first place in the world in the oil and gas sector, in addition to entering the list of the top 50 companies and universities that obtained patents that year.

Aramco has strengthened its efforts with research and innovation in 2022, by raising the number of patents to 963.

As for digital infrastructure, Saudi Arabia ranked second among the G20 countries, according to the Digital Competitiveness Report for the year 2021, issued by the European Center for Digital Competitiveness.

The year 2017 witnessed the entry of only one Saudi company into the Forbes list of the most funded startups in the Middle East, then in 2020 the number of Saudi companies increased to two, while in 2023 the number increased to 5 Saudi companies among the top 10 in the list.

While focusing on innovation, Saudi Arabia has also focused on sustainability. It has announced its commitment to increasing the percentage of energy generation from renewable sources to reach 50% by 2030, and that in preparation for achieving zero neutrality by 2060.

In the same context, the Saline Water Conversion Corporation (SWCC) entered the Guinness Book of Records, by achieving a new record, being the world's lowest energy-consuming desalination plant, at a rate of 2.27 kilowatt/hour per cubic meter of desalinated water.

It is worth mentioning that the Saudi Research, Development and Innovation Authority (RDIA) showed keenness in cooperation with Forbes, through the report, to review the 10 most innovative companies in the Kingdom in each of the 4 sectors of national priorities in the Kingdom, with a total of 40 companies.

The list included each of Saudi Arabian Oil Co. (Saudi Aramco), Saudi Basic Industries Corp. (SABIC), NEOM, Saudi Telecom Company (STC), Saudi Arabian Mining Company (Ma’aden), Almarai, Al Rajhi Bank, Dr. Sulaiman Al-Habib Medical Services Group Company (HMG), ACWA Power, Saudi National Bank (SNB).

Crown Prince Mohammed announced on July of 2022, the national aspirations and priorities for research, development and innovation in Saudi Arabia for the upcoming 2 years, which rely on to 4 main priorities, represented in: human health, environmental sustainability and the basic needs, leadership in energy and industry, in addition to future economies, which will strengthen the Kingdom's competitiveness and leadership globally.

Saudi Arabia’s national aspirations and priorities in the field of innovation aim to help it become one of the pioneers of innovation in the world, as the annual spending on the sector will be at 2.5% of the total GDP in 2040, in order that the sector to contribute in developing and diversifying the national economy through adding SR60 bullion to the GDP, in addition to creating thousands of qualitative jobs.

Related Articles

Saudi Press
The G-7 aims to make global crypto regulations tougher
Don’t Dismiss China’s Peacemaking Bid
Father obliterates council members following viral TikTok of biological male masturbating in women’s bathroom..
EU's von der Leyen: "We know this is an era where we rely on one single supplier. China. 98% of our rare earth supply."
China and Brazil have signed a new deal that will allow them to trade in their own currencies, bypassing the US dollar as an intermediary
Elon Musk and Others Call for Pause on A.I., Citing ‘Profound Risks to Society’
Nashville style execution
“We've had evidence prior to the pandemic that masks were largely ineffective at preventing community transmission of influenza “
Former Starbucks CEO Howard Schultz:
Former Starbucks CEO Howard Schultz rejects being labeled a "billionaire"
Jamie Dimon is being deposed over JPMorgan Chase role in Epstein lawsuits
This is how an electric car saves all the energy that he would have spent if he had lived 50 years longer.
Brand new security footage has just been released to the public showing the Active shooter Audrey Elizabeth Hale drove to Covenant Church School in her Honda Fit this morning, parked, and shot her way into the building
Social Media censoring users for saying the true
Smart Iranian fashion designer teaching dummy TV anchors lesson about reality
U.S. charges FTX's Bankman-Fried with paying $40 million bribe
Fallen 'Crypto King' Who Owes Millions to Investors Was Kidnapped and Tortured
Regulators blame social media for SVB's rapid collapse: 'Complete game changer'
AOC explains why she opposes banning TikTok
UK: Humza Yousaf replaces Nicola Sturgeon as SNP leader and first minister in Scotland
In a dramatic U-turn against His Government: Judicial Reform Legislation Must Be Halted, Says Israeli Defense Minister Yoav Gallant
Gordon Moore, a co-founder of Intel Corporation, died at 94
Powell: Silicon Valley Bank was an 'outlier'
Donald Trump arrested – Twitter goes wild with doctored pictures
NYPD is setting up barricades outside Manhattan Criminal Court ahead of Trump arrest.
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
Goldman Sachs cuts outlook for European bank debt over Credit Suisse crisis
Paris Rioting vs Macron anti democratic law
Credit Suisse to borrow $54 billion from Swiss central bank
Russian Hackers Preparing New Cyber Assault Against Ukraine
"Will Fly Wherever International Law Allows": US Warns Russia After Drone Incident
If this was in Tehran, Moscow or Hong Kong
Announcing GPT-4
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
China is calling out the US, UK, and Australia on their submarine pact, claiming they are going further down a dangerous road
A brief banking situation report
We are witnessing widespread bank fails and the president just gave a 5 min speech then walked off camera.
Donald Trump's asked by Tucker Carlson question on if the U.S. should support regime change in Russia?.
Good news: The U.S. government is now guaranteeing all deposits, held by, Silicon Valley Bank, and the funds are available as of today
Silicon Valley Bank exec was Lehman Brothers CFO
Saudi Arabia has announced a major breakthrough in diplomacy with Iran after two years of intense talks
A Mississippian man, who was once considered a “ticking time bomb,” has lost a whopping 165 kilograms! What motivated this incredible transformation?
Elon Musk Is Planning To Build A Town In Texas For His Employees
The Silicon Valley Bank’s collapse effect is spreading around the world, affecting startup companies across the globe
Market Chaos as USDC Loses Peg to USD after $3.3 Billion Reserves Held by Silicon Valley Bank Closed.
Barcelona is feeling the heat as they face corruption charges over payments to former vice-president of Spain's referees' committee, Jose Maria Enriquez Negreira
Banking regulators close SVB, the largest bank failure since the financial crisis
Watch: “They are wounded but unbowed, unbreakable.”
Silicon Valley Bank: Struggles Threaten Tech Startup Ecosystem"