$17 billion spent on private sector innovation in Saudi Arabia

Innovation is defined as a product, production process, or a new or improved method of organizing or marketing. (SPA)
Updated 14 November 2019

$17 billion spent on private sector innovation in Saudi Arabia

  • Innovation is defined as a product, production process, or a new or improved method of organizing or marketing

JEDDAH: Spending on innovation in Saudi Arabia’s private sector totaled more than SR64 billion ($17.5 billion) in 2018, a wide-ranging government survey revealed.
The Institutional Innovation Survey 2018, released by the General Authority for Statistics (GaStat) on Monday, also showed that spending on innovation reached 2.74 percent of the total expenditure in the private sector.
Results of the survey were published through GaStat’s website www.stats.gov.sa.
The survey also provides data on the size of innovation in enterprises and the local market, identifies the extent to which the market embraces new products, and provides data on the extent to which companies adopt new ideas and innovations.
Innovation is defined as a product, production process, or a new or improved method of organizing or marketing.
 


Saudi Arabia confirms no change in Israel travel rules

Updated 27 January 2020

Saudi Arabia confirms no change in Israel travel rules

  • Foreign minister says Israeli passport holders are still unable to visit the the Kingdom

RIYADH: Saudi Arabia has confirmed that Israeli citizens are still unable to visit the Kingdom.

Foreign minister Prince Faisal bin Farhan said the policy has not changed despite Israel saying on Sunday that its passport holders could now travel to the country for religious and business visits.

“Our policy is fixed,” Prince Faisal told CNN. “We do not have relations with the state of Israel and Israeli passport holders cannot visit the Kingdom at the current time.”

His comments come as Donald Trump prepares to unveil his Middle East peace plan on Tuesday. An agreement between Israel and the Palestinians would be key to improving relations with Arab countries, most of which have no diplomatic ties with Israel.

“When a peace agreement is reached between the Palestinians and the Israelis, I believe the issue of Israel’s involvement in the region will be on the table,” Prince Faisal added.

Israel’s interior minister said on Sunday that Israelis - if invited and permitted by Saudi authorities - would be allowed to travel there for religious reasons on pilgrimage or for up to nine days for business reasons such as investment or meetings.

Israelis, mostly Muslims going on pilgrimage, do visit the Kingdom, but usually with special permission or using foreign passports.

Saudi Arabia, along with most Arab countries have no official diplomatic relations with Israel, and citizens of those countries are not able to travel to Israel nor Israelis to those countries.

However, relations between Israel and Gulf states have improved in recent years, particularly over a shared stand against Iran and its aggressive policies in the region.

Prime Minister Benjamin Netanyahu said last month that he welcomed Israel’s warming ties to Arab countries in the region.

In 2018, Netanyahu visited Oman and met the late Sultan Qaboos bin Said.

*With Reuters