SABIC recognized for sponsoring knowledge-based economy conference

4238SABIC was honored for sponsoring the knowledge-based economy conference, which was held under the patronage of Prince Saud Al-Faisal, Minister of Foreign Affairs, in Riyadh on April 24 and 25, and inaugurated by Dr. Muhammed Al-Jasser, Minister of Economy and Planning.

Mohamed Al-Mady, SABIC Vice Chairman and CEO, received an honorary plaque on the opening day from Prince Khalid Al-Faisal, Minister of Education.

Commenting on SABIC’s sponsorship of the conference as a strategic partner, Al-Mady said that it demonstrates the pivotal role the company is playing in corporate social responsibility programs. The development of a knowledge-based economy is a strategic choice that leads to sustainable growth and strengthens knowledge investments based on major pillars, most important of which are technology, innovation, and education, he said.

Al-Mady added that by adopting this global trend and making it a common language and culture, the Kingdom will be able to accelerate its drive towards being a knowledge-based economy. Organizing economic conferences and national events and inviting development partners and scientific minds will help in this effort, he said.

Al-Mady pointed out that knowledge is at the core of SABIC’s strategy as reflected in the emphasis it lays on sustaining its leadership, human resource development and building knowledge through the SABIC Academy, its global technology and innovation centers and stress on innovation.

The conference was organized by the Ministry of Foreign Affairs in collaboration with the Ministry of Economy and Planning and the United Nations Development Program. It aims at directing the Kingdom towards a knowledge-based economy by improving the scientific knowledge of its human capital, and ensuring the education system is consistent with the needs of the labor market.

The conference discussed several topics through its three sessions: human resources and education, focusing on the using of telecommunications technology in the transfer of knowledge; universities’ role in the knowledge-based economy, with the example of the King Abdullah University of Science and Technology (KAUST); research, innovation, and investment in knowledge, focusing on innovation development; innovation in the Arab world; knowledge gap as a result of failure of individual education; role of information and communication technology in the knowledge-based economy, studying Japan’s experience; the role of communication operators; enhancement of access to wide bandwidth services as a basis for the knowledge-based economy; and the areas of knowledge related to communication and information technology.

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