Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

GPCA to host inaugural ResearchInnovation Summit  Join our daily free Newsletter

MENAFN Press - 05/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN Press) With technology and innovation identified as the key drivers of future growth across the petrochemicals industry, the Gulf Petrochemicals & Chemicals Association (GPCA), the region's longest-standing trade association, will host the inaugural Research & Innovation Summit in Dubai in March.



The Research & Innovation Summit will provide a regional platform on which to highlight and advocate the crucial need for the GCC's petrochemical industry to focus on the innovations and technological development that are critical for sector growth. With the petrochemicals industry currently the second largest manufacturing sector in the Gulf, representing 2.9% of the manufacturing sector's contribution to the GDP, the opportunities for growth are vast



"Today, the GCC petrochemicals sector is developing in a stable and successful manner. However, as this is a highly technical industry, GCC petrochemical producers must focus on research and innovation in order to stay relevant in an increasingly competitive global market," said Dr. Abdulwahab Al Sadoun, Secretary General, GPCA



"In the global context, China is the ideal example of a petrochemicals market that invests in R&D technologies that result in tangible gains," notes Dr. Sadoun.



In 2012, the Gulf's petrochemical producers invested just US380 million on research and development, representing less than 1% of global spending in R&D for the year.



In comparison, China's petrochemical industry was the third largest investor in R&D after the EU and the United States of America in the same year, spending an estimated US10.2 billion. In the same period, petrochemicals output in China hit US1.4 trillion, representing 28.8% of global chemicals output.



"While the EU and US spend more on petrochemical research, China has managed to invest in research in a way that helps industry growth and significantly boost output," said Dr. Sadoun. "We in the Gulf should use this as an example of how not only to finance research, but to invest in research that yields considerable business growth."



The need for research will be a key focus of discussion at the Research & Innovation Summit, with experts from Borealis, McKinsey and Sipchem providing insights on the subject.



"The Research & Innovation Summit will provide a platform for stakeholders from the industry, academia and government to discuss ways in which to transform ideas from the laboratory into the field," said Dr. Sadoun.



The Research and Innovation Summit will be held from March 12-13 at the Ritz Carlton, DIFC.

For more information, please visit www.gpcaresearch.com/2014/


About the Gulf Petrochemicals & Chemicals Association
The Gulf Petrochemicals and Chemicals Association (GPCA) is the voice of the industry in the region. Established as a non-profit organization in March 2006, it is the first trade association in the Gulf and the largest and most respected industry body representing the downstream sector in the Middle East. Today, the association has 232 members from over 30 countries, including the largest Arab world and multinational companies.Committed to providing a regional forum where stakeholders from across the industry share insights, solutions and new ideas, the GPCA has six working committees “ Plastics, Supply Chain, Fertilizers, International Trade, Research and Innovation, and Responsible Care “ and organizes six world-class events each year. The association also publishes an annual report and a regular industry newsletter, Insight and reports. Since its inception, the GPCA has raised the standard for industry-wide cooperation and continues to promote the region and its interests in the international policymaking sphere. Additional information is available at www.gpca.org.ae and the GPCA can also be found on Facebook and Twitter.

 


MENAFN Press




  MENA News Headlines
 Dec 18 2014 - First Etihad superjumbo to take off next weekAFP
(MENAFN - AFP) The maiden flight of Etihad Airways' long-awaited Airbus A380 superjumbo will take place next week, the Abu Dhabi carrier said Thursday, also announcing its first Boeing 787 Dreamliner ...

 Dec 18 2014 - Saudi crude oil exports grow to 6.9m bpd in Oct.MENAFN
(MENAFN) Top oil exporter Saudi Arabia shipped more crude oil in October than a month earlier while volumes used by domestic refineries remained high allowing more oil products exports, official data ...

 Dec 18 2014 - MEA ICT spending to hit USD270b in 2015MENAFN
(MENAFN) According to a recent report by International Data Corporation (IDC), the Middle East and Africa spending on information and communications technology (ICT) is expected to register a growth ...

 Dec 18 2014 - Expo 2020 to generate USD37.83b in revenue for DubaiMENAFN
(MENAFN) The UAE Ministry of Economy said that it expects the Expo 2020 to bring financial returns of about USD37.83 billion to Dubai, as well as attract more than 25 million visitors, 70 percent of ...

 Dec 18 2014 - Qatar Airways to boost Oman's Salalah serviceMENAFN
(MENAFN) Qatar Airways announced it is planning to add four new services to Salalah, Oman's second largest city, by next February, thus bringing the number of its flights to the city to eight weekly ...

 Dec 18 2014 - Abraaj , Kellogg bidding war intensifies over Egypt's Bisco MisrMENAFN
(MENAFN) The bidding war between UAE's Abraaj Investment Management and Kellogg Co, the breakfast cereal maker, with each company continuously outbidding the other for the acquisition of Egypt's ...

 Dec 18 2014 - UAE's ME Digital Group acquires CoboneMENAFN
(MENAFN) Middle East Digital Group, the online publishing, content and services company and owner of Expatwoman.com, announced it has acquired the online coupon website Cobone in a multi-million ...

 Dec 18 2014 - Dubai's real estate to lead economic growth in 2015MENAFN
(MENAFN) Dubai's Department of Economic Development said that it expects real estate and construction will likely drive economic growth in 2015, which is expected to grow 4.5 percent next year ...

 Dec 18 2014 - Oman's Orpic to invest USD3.6b on increasing productionMENAFN
(MENAFN) Oman Oil Refineries and Petroleum Industries Company (Orpic) announced that its production capacity of polypropylene and polyethylene will increase to 1.4 million tons, when its USD3.6 ...

 Dec 18 2014 - Qatar- HH the Emir, HH the Father Emir Attend National Day Parade -1Qatar News Agency
(MENAFN - QNA) The parade started with the national anthem and the firing of 18-shot gun to celebrate the National Day, followed by a recitation of verses from the Holy Quran. The parade included ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help