RIYADH: In 2023, Saudi Arabia rose its research and development (R&D) spending to SR 22.61 billion ($ 6.02 billion), an increase of 17.4% from the last year. This movie is in support of Vision 2030 initiative to lessen dependency on oil sectors and strengthen sectors such as energy, technology and sustainability.
The Kingdom’s R&D workforce rose to 49,337 personnel by 12.2% in 2023. Of these personnel, 36,832 are researchers, reflecting 22.1% growth annually. Most of the R&D employees, 76.1% worked in high education, 17.9% worked in the private sector and 6.1% in government roles.
The government sector was the main the source of funding which totalled to SR12.12 billion (53.6%). The private sector contributed SR 9.31 billion, while higher educated got SR 1.17 billion. Private sector expenditure accounted for SR 8.7 billion on R&D, while the government spent SR 8.66 billion and higher education at SR 5.24 billion.
Saudi Aramco’s $100 million investment in King Abdullah University of Science and Technology was the key initiative in 2023. Over the next decade, the partnership will strive to drive innovation in energy, transition, sustainability, materials science, upstream technologies and digital solutions.
This strategic boost in R&D reflects Saudi Arabia’s commitment in driving innovation, diversifying the economy and supporting global sustainability objectives.
