April 27, 2018 – The Saudi Intellectual Property Authority (SIPA) has announced the development of a strategy which will support the roles of local SMEs while encouraging foreign investment into the Kingdom. The strategy will utilize best international practices to foster competitiveness and boost the national economy. Features of the strategy include the modernization of rules and regulations, the provision of products and services of the intellectual property in the highest standard, and the availability of data on intellectual property rights. The announcement was made by the Minister of Commerce and Investment H.E. Majid Al-Qasabi during SIPA’s annual board meeting.
Saudi Intellectual Property Authority Boosts Economy
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