The Kingdom has the most patents registered globally in the Arab world, followed by Kuwait with 14 percent and Egypt 12 percent, said Mohammed Al-Jasser, minister of economy and planning, recently.

During the University Invents conference launched by Crown Prince Muqrin, deputy premier, at King Saud University, he said: “We are proud of the Kingdom’s achievements in innovation.”

Al-Jasser said that King Saud University was playing a major role in helping the ministry prepare a strategy to transform the country into a knowledge economy.

The Kingdom’s achievements have been driven by huge investments in health, education and infrastructure projects, he said, according to a report in a local publication.

He said some projects have been delayed but the country’s leadership has focused on getting the necessary expertise to get them off the ground. This would assist in developing the country into a modern and competitive nation, he said.

Al-Jasser said the various development plans over the years have been supported by the government with substantial budgetary allocations, including the development of the information and technology sector and other industries. This includes the establishment of a second knowledge city in Madinah.

These efforts were supported by a royal decree, which ordered the formation of a committee under the presidency of the ministry that included five universities, including King Saud University.

He said that the ministry has realized the importance of focusing on raising skills and productivity in various sectors of the economy in the Kingdom to achieve a dynamic and more competitive environment.

Reviewing the Kingdom’s large investments in the country over the past decade, Al-Jasser said the government has set aside SR1.4 trillion to develop human resources.