Media ININ Economy We Trust
Riyadh, Saudi Arabia
Saudi Arabia announced the launch of Project Code, an international development project aimed at addressing three of the biggest challenges facing the Middle East region: healthcare, food security and internal security.
Project Code is an ambitious and unprecedented program designed to attract 500 of the world’s leading technology companies to Saudi Arabia. The project was entrusted to Mr. Ali Al-Raqaf, the project’s founder, in collaboration with Professor Newton Howard of the University of Oxford. The Government of Saudi Arabia has allocated more than US $ 1 billion over the next few years to establish a new partnership between industry and the academic sector in which the efforts of many American medical companies are integrated with the efforts of the best international research institutions, including the University of Oxford and the Institute Massachusetts Institute of Technology.
The CUD project will invest in the development of the private sector to bring the region to the forefront of advanced medical services in the Arab world. The project will launch the first neuroscience program in the Middle East, using new and inexpensive technology developed at the Oxford Neuroscience Laboratory and manufactured by Brain Sciences Limited. The program will provide state-of-the-art technology to detect symptoms of progressive nerve damage.
Many of the technologies targeted by the project are multi-use. For example, Nanopor technology, which is used in the field of genetic sequencing and can be used at the same time to desalinate sea water with high efficiency, allows the reclamation and cultivation of all desert areas in Saudi Arabia. Many of the companies and technologies that Projectcode seeks to attract are specialized in climate-related production and food security.
On the other hand, Project Code will allow Saudi Arabia to consolidate its role in the Middle East region through regional leadership in the biotechnology fields necessary to promote economic development in the region. The project will allow Saudi Arabia to license different technologies to other governments, benefit from their financial revenues, harness innovation and innovation to diversify economic activities and income sources in the country and reduce dependence on oil revenues. Project Code will also create thousands of new job opportunities and educational opportunities for Saudi nationals and citizens from other Arab countries.
