The Kingdom of Saudi Arabia affirmed the importance of enhancing cooperative relations to diversify financing mechanisms for research and development and utilize the 21st century’s opportunities.
This aims at creating a future that achieves the aspirations and prosperity for all, Dr. Munir bin Mahmoud El-Desouki, the supervisor of the founding team of the Saudi Research, Development, and Innovation Authority (RDIA), said at the Group of Twenty (G20) Research and Innovation Initiative Gathering (RIIG) Summit held in the Republic of India.
El-Desouki, the head of the Kingdom’s delegation to the summit, affirmed that research and innovation contribute to achieving social and economic progress and sustainable development.
He further said the Kingdom has worked to restructure the research, development, and innovation sector, establishing a supreme committee for the industry headed by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.
The Kingdom launched national priorities and aspirations for research, development, and innovation based on human health, environmental sustainability, basic needs, energy and industry, and future economies to achieve growth and prosperity, El-Desouki said.
He stressed that by 2040, the Kingdom’s annual spending on the research, development, and innovation sector would reach 2.5 percent of GDP.
In his speech, El-Desouki also showcased the Kingdom’s projects that aim to diversify resources and improve the overall energy mix by 2030, expecting renewable energy to contribute up to 50 percent of Saudi total energy consumption.
Moreover, he shed light on the Saudi Green Initiative and the Middle East Green Initiative, which serve as an ambitious roadmaps to achieve sustainability and reduce emissions by planting 50 billion trees to protect the planet.
El-Desouki expressed the Kingdom’s appreciation for the Indian G20 presidency for successfully convening this ministerial meeting, which aims to promote a flexible, equitable, comprehensive, and sustainable “One Future” through research, development, and innovation.
Source: Saudi Press Agency