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Saudi Arabia Spends $3.8 Billion on Research, Development

The government recorded the highest percentage of expenditure on research and development (SPA)
The government recorded the highest percentage of expenditure on research and development (SPA)
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Saudi Arabia Spends $3.8 Billion on Research, Development

The government recorded the highest percentage of expenditure on research and development (SPA)
The government recorded the highest percentage of expenditure on research and development (SPA)

The total expenditure on research and development in Saudi Arabia reached SR14.5 billion ($3.8 billion) in 2021, the General Authority for Statistics (GASTAT) revealed on Wednesday in its statistics publication for 2021

Government spending made up 50 percent of the total expenditure on research and development, while the private sector made up 35 percent and the education sector 15 percent.

The data showed that the number of workers in this field reached 30,220, and the number of researchers recorded during 2021 reached 24,808.

The education sector spent 15 percent of its expenditure on research and development. It registered the largest percentage of workers, 25,178, in the field of research and development, or 83 percent of the total number.

The government recorded 2,967 workers, or 10 percent of total workers, while the private sector ranked last with 2,075 workers, or 7 percent, in 2021, according to the publication.

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Albudaiwi: Advantage Oman Forum Offers Valuable Investment Insights

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
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Albudaiwi: Advantage Oman Forum Offers Valuable Investment Insights

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi said that the Advantage Oman Forum is a valuable opportunity offered by Oman to discuss and review investment opportunities and initiatives, as well as future transformations in promising sectors in this field.
This came during Albudaiwi's participation in the first edition of the Advantage Oman Forum, which was held under the patronage and attendance of Omani Deputy Prime Minister for Defense Affairs Sayyid Shihab bin Tarik Al Said, and in the presence of a number of ministers of the GCC countries, Sunday in Muscat. A group of senior officials and decision-makers participated in the forum, SPA reported.
The Secretary-General stated that Oman's Organisation of this forum reflects the insightful vision of the wise Omani leadership to strengthen the national economy and attract global investments, thus contributing to achieving sustainable development goals. He also praised the forum's activities and the workshops as well as the dialogue sessions it included, which provide the elements of success and sustainability for this forum, making it a regional and international platform and a destination for those interested in economic and investment affairs in Oman.
Furthermore, Albudaiwi added that Oman, with its attractive investment environment, advanced infrastructure, well-thought-out economic policies and significant economic, in addition to investment growth indicators, has become a destination for investors from around the world, stressing that this strengthens its position as a key pillar in the economies of the GCC countries and supports the council's aspirations for regional economic integration.
The Secretary-General concluded his statement by expressing his confidence that the forum will achieve positive results that will contribute to expanding the horizons of economic and investment cooperation between the GCC countries and the world, and support the comprehensive development process in the region.