Saudi Arabia’s intellectual property chief meets with business owners

1 / 3
As part of a series of meetings to strengthen the partnership between the Authority and the business sectorThe Saudi Authority for Intellectual Property meets with business owners in the Council of Saudi Chambers. (SPA)
2 / 3
As part of a series of meetings to strengthen the partnership between the Authority and the business sectorThe Saudi Authority for Intellectual Property meets with business owners in the Council of Saudi Chambers. (SPA)
3 / 3
As part of a series of meetings to strengthen the partnership between the Authority and the business sectorThe Saudi Authority for Intellectual Property meets with business owners in the Council of Saudi Chambers. (SPA)
Updated 11 September 2018
0

Saudi Arabia’s intellectual property chief meets with business owners

  • A meeting has been held between Saudi Arabia’s Authority for Intellectual Property and the Kingdom’s business sector
  • A historical background of intellectual property in Saudi Arabia was presented to the delegates

JEDDAH: A meeting has been held between Saudi Arabia’s Authority for Intellectual Property and the Kingdom’s business sector, in a bid to strengthen their ongoing partnership.
The Executive Chairman of the Authority Dr. Abdulaziz bin Mohammed Al-Suwailem stressed that it was the first in a series of meetings that the Authority intends to organize with the various private sector activities in Saudi Arabia to consult on intellectual property issues, the challenges facing the sector, and prospects for cooperation between the two sides.
A historical background of intellectual property in Saudi Arabia was presented to the delegates, showing its accession to the International Intellectual Property Organization (WIPO) in 1982, through to the Paris Convention for the Protection of Industrial Property (PARIS) and the issuance of a number of related regulations such as copyright, patent and trademark.
They also discussed the national strategy for intellectual property, the development of intellectual property systems, the efficient and high quality of products and services, the raising of awareness of intellectual property rights, as well as the direction of the intellectual property system in the Kingdom.


Crown prince: Saudi investment in India to reach $100bn

Updated 53 min 38 sec ago
0

Crown prince: Saudi investment in India to reach $100bn

  • Mohammed bin Salman says value of investments to increase rapidly over next two years
  • Modi praised relations between the two countries after signing cooperation agreements

DUBAI: Crown Prince Mohammed bin Salman said on Wednesday he expects Saudi Arabia’s investments in India will be worth $100 billion in the next two years.

During a press conference with India’s Prime Minister Narendra Modi, the crown prince said the Kingdom had invested $10 billion in technology and small companies in India which had “achieved very remarkable returns.”

Speaking on the second day of hist India visit, and after the signing of five agreements with Modi, the crown prince also said that there were many opportunities for India in Saudi Arabia.

“We expect that the opportunity we are developing in India in many fields will exceed 100 billion dollars over the next two years,” Prince Mohammed said. “We want to work as two governments to ensure these investments and achieve beneficial returns for both countries. 

“We also hope that relations between the Kingdom of Saudi Arabia and India will contribute to providing more opportunities for Indian laborers and manpower to contribute to the future of the Kingdom of Saudi Arabia and building the Kingdom's Vision 2030.”

******

READ MORE: 

Crown Prince Mohammed bin Salman pledges commitment to Saudi-Indian relations

Greeted with a hug: Saudi crown prince welcomed to India by PM Modi

Full Asia tour coverage 

******

The crown prince spoke of the depth and history of relations between the two countries, acknowledging the role Indian labor and businesses had played in the Kingdom’s development.

He also said the economic partnerships were grounded in the two nation’s similar challenges - “extremism, terrorism and the security of the Indian Ocean.”

He said Modi’s visit to the Kingdom in 2016 had achieved investments worth $44 billion in refining and petrochemicals.

The two countries planned to expand India’s oil storage capacity to make India an “important regional center in distributing oil and its products.”

"As a neighbor who guarantees suppying us with energy needs, the Kingdom is considered India's most important partner," Modi said. "We have enhanced our relations through establishing a strategic partnership."

The crown prince and Modi earlier oversaw the signing of agreements in the fields of investment, tourism, housing and information and broadcasting.

It was also announced that the Kingdom would join the International Solar Alliance, a group of countries focussed on improving solar technology.

Prince Mohammed then met a number of CEOs from India's leading businesses.

The crown prince arrived in India after a two-day trip to Pakistan as part of a tour of Asia.

Earlier he attended a ceremonial welcome in New Delhi after landing in the country on Tuesday evening.