The Dow Chemical Company is set to improve its presence in the Middle East region, particularly in Saudi Arabia. The chemical corporation has recently planned to increase its activities that involve the development of high-quality technology streamlining electronic industry, energy consumption, and water.
Dow Center for Innovation and Development in the Middle East is set to kick start its operations by the third quarter of 2018 to consolidate its exports globally. The company will increase its investments in Saudi Arabia with a vision to support the Kingdom’s policy of economic diversity. In addition, the company will increase its R&D activities falling under water treatment and technology industries. Officials from Dow encouraged by the recent collaboration with Aramco, the Sadara Chemical Company, so far the company’s biggest foreign investment in the region’s chemical sector.
The company is moving towards a direction of supporting the Kingdom’s 2030 vision of taking part in the National Transformation Program. Further, the company look forward to expressing its plans by implementing the best scientific innovative solutions in association with both private and public sector.
Officials from Dow stated that they are gearing up to branch out investments for supporting the kingdom’s initiative of economic diversification and reducing reliance on oil and gas for attaining a sustainable future. Moreover, the company has recently organized various workshops and that their end result will be accounted while assessing energy productivity and strengthening local industries. Besides, the company’s seeks to build a sustainable economy in the region as part of its commitment to national development.
Dow is amongst the first few companies to get an authorization of foreign investment in Saudi Arabia as recognition to its long-term relationship with the Kingdom. Also, Dow recently inaugurated the upper stage of its Middle East headquarters at the King Abdullah University of Science and Technology (KAUST) and will be fully operational by 2018. KAUST is believed to be a strategic partner which is expected to assist Dow in encouraging technological innovation and tackle major market impedes.
Summary: Dow set to boost the Chemical sector in Saudi Arabia