2nd GPCA Research & Innovation Summit to be held on March 16-18, Dubai
According to the statement, Middle Eastern governments have put innovation front and center on their national agendas as evidenced by growing research and development (R&D) budgets in the Arabian Gulf. According to a recent study by US research group Batelle, Saudi Arabia and Qatar both appear among the top 40 investors in research and development worldwide in 2014. Saudi Arabia’s research budget comes in at just 0.3% of GDP.
“Attempts to drive innovation in the GCC are still at an early stage. However, as countries increase R&D spending, the results will have a huge impact on the non-oil segment of the region’s economy,” said Dr Abdulwahab Al-Sadoun, Secretary General, GPCA. “A similar trend can be seen in the GCC’s petrochemical industry. To sustain their global competitiveness, GCC chemical producers are striving for technological excellence, building world-class production facilities and nurturing local, innovative capability. The mushrooming of innovation centers and technology parks over the last few years across the GCC States is a positive indication that the chemical industry is poised for substantial technological development.”
“It is possible that the next technological leap for the petrochemical industry will be formulated by an engineer in Abu Dhabi, a scientist in Doha or a researcher in Riyadh or Dhahran City,” continued Dr. Al-Sadoun. “In the future, producers will need to focus on providing the funding and into developing the minds behind the research. Scientific innovation, after all, occurs when the finances and brains converge.”
The Gulf Petrochemicals and Chemicals Association (GPCA) represents the downstream hydrocarbon industry in the Arabian Gulf. Established in 2006, the association voices the common interests of more than 240 member companies from the chemical and allied industries, with the relevant companies accounting for over 95% of chemical output in the Gulf region.
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