Qatar to host conference on knowledge-based industries next February

GOIC organizes this event in cooperation with the Arab Industrial Development & Mining Organization (AIDMO) and The Arab Science and Technology Foundation (ASTF). With the participation of international keynote speakers, the conference targets introducing KBIs and diagnosing means and practical mechanisms for enabling GCC member states to launch this industry, further to presenting a comprehensive strategy for GCC in this field.

According to a statement issued by GOIC, the conference is considered an important economic assembly, especially in view of the new global economic trends, which are based on knowledge as a main input in economy. GOIC pointed to the potential great role that this kind of industries might play in the future of GCC member states, supported by the growth in the expenditure indicator of some GCC member states on Research and Development (R&D).

Besides, the estimated global market size for biotechnology industries -as a model on KBIs- will reach some $100bn annually. This industry has recorded double-digit growth over the past 10 years. In addition, the region is prepared for playing an important role in this industry based on a number of factors, amongst them come the financing capabilities and the general investment environment.

GOIC mentioned that according to a recent report by the Organization for Economic Co-operation and Development (OECD), global biotech sales in 2003 were estimated to $82.9bn; while, Ernst & Young estimated $73.5bn of global biotech revenues in 2006.

According to the same statement, 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.

The statement also talked about the reason for selecting the State of Qatar to conduct this conference and the expected great success opportunities there assuring that Qatar has been widely recognized as a leader among GCC countries in recognizing the need for KBI development and in making important investments in KBI foundations.

Having made a substantial commitment and a vision to develop the environment necessary to foster a knowledge-based economy, Qatar has the opportunity to become a pioneer in the region and a global KBI leader. Qatar has demonstrated its commitment to devote a substantial share of Gross Domestic Product (GDP) towards R&D spending and created institutions like the Qatar Foundation, the Qatar National Research Fund (QNRF), the Qatar Science and Technology Park and other related knowledge initiatives.

It is worth mentioning that Knowledge Based Industries (KBI) are industries that are primarily based on knowledge rather than on labor, capital and other economic factors. KBIs rely heavily on scientific advances, innovation and pioneering technology, since information and knowledge have emerged as the main contributors of value in the modern global economy.