The UK and Saudi Arabia on Research Links Pact
On 4th of March 2024, Andrew Griffith, Science Minister of the UK Government and His Excellency (HE) Abdullah Alswaha, Chairman of the Board of Directors of the Research Development and Innovation Authority, and Saudi Arabia’s Minister of Communications and Information Technology signed on Memorandum of Understanding for research links.
What does the Memorandum of Understanding entail?
The two countries signed a mutual agreement to improve their science and technology. The agreement covers various challenges such as food security, clean energy, and R&D. In addition, the memorandum aims to boost business in the UK and Saudi Arabia. Minister Griffith will represent the UK and participate in LEAP 2024, also known as ‘Digital Davos’ — a highly prestigious tech event.
UK Science Minister Optimistic
Minister Griffith commented that Saudi Arabia is on track to transform their economy through works of science and technology. This would be a great deal not only for business purposes but also for local scientists and researchers. The collaborative efforts between the two countries also enable the UK to advance in science and innovation. As long as Saudi Arabia continues its tech ambitions and scientific endeavours, this diplomacy will continue for years to come.
HE Abdullah Alswaha Lauds UK Alliance for Innovation
His Excellency expressed his pride in collaborating with the UK to advance science and technology, and further develop science and research in both countries. This partnership would cement the foundation for an innovative environment and hope this agreement would tackle health, clean energy, and climate change issues.
Memorandum Propels Saudi Arabia’s ‘Vision 2030’
All these efforts are a part of Saudi Arabia’s ‘Vision 2030’, the country’s plan to improve and facilitate its economy by creating a supportive business environment. Thus, Saudi Arabia’s decision to position itself as a science and tech hub to provide other countries, such as the UK economy its service. Boasting a trillion-dollar tech sector and housing four of the world’s top ten universities, the UK has much to offer Saudi Arabia as a research and innovation partner.
The UK and Saudi Arabia have a well-established economic relationship. This can be seen in two prominent Saudi Arabian companies, SABIC (Saudi Basic Industries Corporation) and Alfanar. The said companies have invested a combined total of $2.35 billion into decarbonisation and clean-energy technology in Teesside in the north-east of England.
What The Future Holds
The UK and Saudi Arabia are about to enter into a significant research partnership. This agreement showcases the UK’s world-leading research expertise. It establishes a framework for collaborative efforts in cutting-edge science and technology critical for progress in space exploration, healthcare, climate change and other crucial fields.
On top of that, this agreement allows Saudi Arabia and British companies to capitalise on advancements and advance research and development (R&D) initiatives. Regular meetings involving key opinion leaders in the research sectors of both countries will take place to strengthen this collaboration. The first meeting will be happening later this year.
Looking to start a business in the United Kingdom? Contact 3E Accounting for assistance.
