The Crown Prince and Prime Minister of Saudi Arabia, Prince Muhammad bin Salman bin Abdulaziz, launched the National Intellectual Property Strategy, which is one of the possibilities for achieving the goals of the Kingdom’s Vision 2030, which aims to build an intellectual property system that supports the economy based on innovation and creativity by establishing an intellectual property value chain. Competitiveness stimulates innovation and creativity and supports economic growth to make the Kingdom a leader in the field of intellectual property.
The Crown Prince affirmed his aspirations to stimulate creativity and innovation through the national strategy for intellectual property in the Kingdom of Saudi Arabia for the next five years, after the Cabinet’s decision to adopt the national strategy for intellectual property.
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He said: “We have minds and energies that are passionate about innovation and creativity, and by enabling them, the Kingdom will be a fertile environment for the knowledge economy through an integrated intellectual property system that supports the development of innovative technologies and industries and contributes to the growth of enterprises. The national strategy for intellectual property will also enable stimulating investment, creating high-quality jobs and raising awareness of the rights of creators.” and innovators.”
In order to ensure the growth of innovation and stimulate creativity, the National Intellectual Property Strategy was based on four basic pillars: generation and management of intellectual property, commercial investment and protection of intellectual property. And the growth of investments worldwide, through the objectives of the National Intellectual Property Strategy, which enhances the Kingdom’s ability to generate intellectual property assets of economic and social value.
Based on the importance of generating intellectual property and based on what the Kingdom possesses of creative minds and young talents that innovate in various fields and other competitive advantages, generation of intellectual property came as one of the pillars of the national strategy for intellectual property, which targets the Kingdom through this pillar to enhance the Kingdom’s ability to generate intellectual property assets High economic and social value.
In order to respect intellectual property rights and enhance the value of their protection for creative rights, the intellectual property protection pillar came to be one of the important pillars of this strategy. This pillar aims to activate the market economy through the protection of intellectual property.
In order to contribute to the growth and attraction of investments in the Kingdom, and based on the Kingdom’s investments in future cities and projects based on innovation and creativity, such as The Line and NEOM, and its distinguished geographical location and strong digital infrastructure, the commercial investment pillar was chosen to be one of the pillars of the national strategy for intellectual property, which aims to enhance competitiveness. products through the use of intellectual property and maximizing the impact thereof.
In order to ensure effective management of human creativity, the Intellectual Property Department has come as one of the pillars of the national strategy for intellectual property. It aims to improve the value of intellectual property by establishing a rapid, high-quality system for its registration.
Each pillar will also have a number of initiatives assigned to government agencies, and they will be measured periodically according to a governance framework that defines roles and responsibilities, which includes making decisions on important issues related to the implementation of strategy projects and providing support for them.
The adoption of the National Intellectual Property Strategy is supportive of empowering male and female creators in various fields to build an ambitious nation and a diversified and prosperous economy for the Kingdom of Saudi Arabia and to attract interested researchers, entrepreneurs and innovators from within the Kingdom and around the world through innovation, creativity and respect for intellectual property rights.