(MENAFN) GCC chemical producers are opening their doors to innovative insights and ideas in order to identify new business chances and maintain their modest edge.
Accordingly, open innovation has a key role in keeping the global competitiveness of the chemical industry in the Arabian Gulf.
Moreover, investment in research and development (R&D) estimated at USD 529mn in 2014, while it's nearly double from the USD 368mn in 2013.
In addition, open innovation allows GCC chemical suppliers to access external solutions, experiences and competencies related to their innovation agenda.
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