Saudi Arabia has unveiled a new intellectual property strategy as the Arab world’s largest economy aims to support innovation and creativity and boost investments.
The National Intellectual Property Strategy was launched by Crown Prince Mohammed bin Salman, the Saudi Press Agency (SPA) reported.
“We have minds and energies passionate about innovation and creativity, and by enabling them, the kingdom of Saudi Arabia will become a vibrant environment for a knowledge economy based on an integrated intellectual property ecosystem that develops innovative technologies and industries and contributes to the growth of enterprises,” Prince Mohammed said.
“The National Intellectual Property Strategy will further enable stimulating investment, create high-quality jobs and raise awareness of creators and innovators' rights.”
The launch of the strategy comes as Saudi Arabia aims to diversify its economy away from oil as part of its Vision 2030 programme. The kingdom is building projects spanning sectors including tourism, aviation, real estate and entertainment.
Saudi Arabia’s economy is forecast to grow by 7.6 per cent in 2022 and 3.7 per cent next year after expanding 3.2 per cent last year amid higher oil prices and efforts to mitigate the impact of the coronavirus pandemic, the International Monetary Fund said in its World Economic Outlook in October.
The country’s economy grew by 8.8 per cent in the third quarter of 2022 from the same period a year ago, driven by a sharp rise in both oil and non-oil activities, according to the latest data by General Authority for Statistics.
The National Intellectual Property Strategy is based on four pillars. These include IP creation, IP administration, IP commercialisation and IP protection, according to the SPA.
In a bid to achieve these pillars, work will be done to boost co-operation and integration between national entities as key partners to back the objectives of the new strategy.
The IP creation pillar will enhance the creation of national high-value intellectual property assets by supporting young talent in the country, while the protection pillar aims to stimulate the market economy through the protection of creative rights, it said.
The commercialisation pillar will contribute to the growth and attraction of investments in the kingdom.
Meanwhile, the administration pillar aims to improve the value of intellectual property by establishing a fast and high-quality registration system to ensure effective management of human creativity.
Each pillar will have a number of initiatives assigned to government agencies and will be measured periodically according to a governance framework that defines roles and responsibilities.
“The adoption of NIPST supports the empowerment of innovators in various fields to build an ambitious country and a diversified and prosperous economy for the kingdom and attracts interested researchers, entrepreneurs and innovators from Saudi Arabia and around the world towards innovation, creativity and respect of IP rights,” the SPA said.
The kingdom is developing new projects such as a $500 billion futuristic city named Neom and other developments as it continues to focus on diversifying its economy and attracting more investment to the country.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The drill
Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.
Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”
Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”
Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.”
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
