HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the Council of Economic and Development Affairs, launched the National Intellectual Property Strategy (NIPST), which aims to encourage, manage, and invest in intellectual property (IP) and protect it effectively on the national level, in order to support innovation and creativity, and keep up with the objectives of Saudi Vision 2030.
The launch of the strategy will strengthen the Kingdom’s ability to create economically and socially valuable IP assets to meet national and to increase economic growth, by building a strong IP ecosystem.
IP is strongly related to objects of Vision 2030 that enable innovation and creativity, boost business, and helps a prosperous economy.
Through NIPST, the Kingdom of Saudi Arabia is looking to support the empowerment of innovators facilitate business based on IP, and achieve a society that respect creative efforts.