GPCA to talk about innovation

LET’S CATCH UP

PREVIEW • THE ROLE OF INNOVATION AS AN ENABLER OF GROWTH HAS ALREADY BEEN IDENTIFIED BUT, GPCA SAYS, CHEMICAL PRODUCERS NEED TO TAKE A SERIOUS APPROACH TO THE TOPIC

IT’S GOOD TO talk, or so they say. But that is one thing that Covid restrictions have hindered over the past couple of years. As the world gradually opens back up, there is therefore a very keen desire to get back to networking with customers, potential clients and old friends in the business.

The Gulf Petrochemicals and Chemicals Association (GPCA) is doing its best to help in that regard, with two consecutive two-day conferences scheduled to take place in Dubai in the last week of September. The first of these, the annual GPCA Research & Innovation (R&I) Conference, serves as a platform to encourage and drive a culture of innovation within the regional chemical industry and has been widely praised for providing an ideal platform for knowledge sharing and for building a strong understanding of the role R&I plays as a cornerstone in the regional industry’s development and in achieving its competitiveness.

This year’s event, taking place on 26 and 27 September, will discuss the theme of ‘Catalysing a Sustainable Future through R&I’, featuring presentations from leading figures in the region’s chemical industry as well as a plenary address by Dr Kevin Cullen, vicepresident of innovation at King Abdullah University of Science and Technology (KAUST), who will share learnings from industry and academia collaboration.

A recent GPCA report, The Innovation Imperative of the Chemical Industry in the Arabian Gulf, indicated that chemical producers in the Gulf Cooperation Council (GCC) region invested some $480m in research and development in 2019, prior to the pandemic, 9 per cent higher than the previous year; that might seem impressive but it equates to just 0.7 per cent of revenues, compared to the 3.1 per cent that leading international players devote to R&D.

That shows there is plenty to come for regional producers and more investment in R&D will receive broad support. According to GPCA, developing the R&D sector can yield significant socio-economic benefits across the region – every direct R&D job is calculated to support five jobs elsewhere within the economy.

CALL TO ACTION Dr Abdulwahab Al-Sadoun, general secretary of GPCA, comments: “The GCC region has ambitious aspirations to transform their economies into a hub for innovation where new inventions are incubated, and technological developments are born by indigenous local talent as well as by attracting leading scientists and innovators from across the globe. However, the region has a long way to go to realise its innovation ambitions. A recent GPCA survey has revealed that while the majority of executives at our member companies say innovation is a top priority, only a small percentage of them believes that their companies are successful innovators.

“To help advance the innovation efforts at chemical companies in the region, GPCA has set out a number of recommendations, among which are transforming the corporate culture at chemical firms, aligning their innovation strategy with their wider business strategy, improving collaboration with customers and the value chain, and embracing external sources of ideas,” Dr Al-Sadoun continues. “Building an enabling research and innovation environment at chemical companies in the region has never been more important as the sector is faced with balancing its business, environmental and societal obligations. I am confident that the 7th GPCA Research and Innovation Conference will provide the right platform for some of the best and most technologically savvy industry thought leaders to come together, exchange learnings and collaborate towards a more sustainable future.”

More information on the event can be found at https://gpcaresearch.com/.