Knowledge Based Industries - Nanotechnology Conference

A Strategy for Knowledge Based Industries in the GCC

Today, only a small number of industrialized countries provide practically all of the worlds’ technology innovation. They are therefore uniquely positioned in the landscape of the world economy. Countries that do not join this race immediately will miss the opportunity to share in the benefits of innovation, and will inevitably slip in their economic and industrial performance and rankings.

It is therefore imperative to devise a comprehensive KBI plan for the Gulf Region to retain the competitiveness of its economy into the 21st Century and to diversify into productive activities outside the traditional oil and gas sector.

This initiative hinges critically on the support and the leadership of enlightened policy makers for several reasons. First, policy frameworks and economic foundations can either stimulate or constrain innovation.

Second, individual companies are not in a position to provide all the capital needed for the investments. Third, the contributions from academia, laboratories, industry and financial sectors need to be strengthened and coordinated to avoid duplication and expending resources and energies on too many fronts.