KSA stresses to diversify financing mechanisms at the G20 research and innovation of leaders meeting
Ashraf AboArafe
The Kingdom if Saudi Arabia (KSA) affirmed the importance of strengthening cooperative relations to diversify funding mechanisms for research and development and take advantage of the opportunities of the twenty-first century, to create a future that meets the aspirations and well-being of all, where research and innovation contribute to social and economic progress and the achievement of sustainable development.
This came during a speech delivered by the head of the Kingdom’s delegation, His Excellency the General Supervisor of the founding team of the Research, Development and Innovation Development Authority, Dr. Munir bin Mahmoud Al-Desouki, who participated in the ministerial meeting of leaders of research, development and innovation of the G20 countries held in the Republic of India, explaining that the Kingdom has worked on Restructuring the research, development and innovation sector, where a higher committee was established for the sector headed by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister – may God protect him -, and the Kingdom launched national priorities and aspirations for research, development and innovation that are based on “human health and environmental sustainability and basic needs, energy and industry, and future economies” to achieve growth and prosperity, indicating that annual spending on the research, development and innovation sector will reach 2.5% of GDP in 2040.
His Excellency reviewed the Kingdom’s projects that aim to diversify resources and improve the energy mix by 2030, expecting renewable energy to contribute up to 50% of our total energy consumption. He also touched on the “Saudi Green” and “Green Middle East” initiatives, which are an ambitious roadmap. To achieve sustainability, reduce emissions by planting 50 billion trees to protect the earth.
At the end of his speech, Dr. Al-Desouki expressed the Kingdom’s appreciation to the Indian presidency for successfully convening this ministerial meeting, which aims to promote a flexible, equitable, comprehensive and sustainable “one future” through research, development and innovation.
