Riyadh- The Dow Chemical Company is planning to increase its foreign investments in Saudi Arabia along with its Saudi exports worldwide. Dow also intends to enhance its activities aiming to develop global high-quality systems in rationalizing energy consumption, electronic industry and water.
Dow Center for Innovation and Development in the Middle East is expected to kick off its operations in the second half of 2018 to boost its exports all across the world.
Chuck Swartz, president for Dow in the Kingdom of Saudi Arabia told Asharq Al-Awsat that the company seeks to increase its investments in Saudi Arabia aiming to enhance the Kingdom’s policy of economic diversity by supporting research and development, technological industries and water treatment. He lauded their joint project with Aramco, the Sadara Chemical Company, considered Dow’s biggest foreign investment in the Saudi chemical sector.
Swartz said that Dow insists on moving forward in supporting the Kingdom in its 2030 vision by participating in the National Transformation Program. He said the company seeks to convey the vision by applying the best scientific creative solutions in cooperation with the private and public sector.
Swartz said that his company is ready to diversify its investments in order to back the kingdoms’ efforts of economic diversification and the reduction of its dependency on oil and gas to secure a sustainable future.
He noted that Dow has recently held a number of workshops and that their conclusions will be adopted in promoting energy efficiency and developing local industries. Furthermore, he asserted that the company is committed to contribute to supporting plans of sustainable growth in the Kingdom as part of its partnership in the national development.
Swartz noted that Dow was the first company to receive an authorization of foreign investment in Saudi Arabia as a reward for its old growing role in the Kingdom.
The president said that in the few past days, the upper stage of Dow’s Middle East headquarters was inaugurated at the King Abdullah University of Science and Technology (KAUST) and expected the other part to begin its operations in the second half of 2018.
Swartz described KAUST as a strategic partner and hoped for Dow to help in encouraging people on innovation and on settling major challenges.
He also expected 2018 to see significant achievements in the field of technology, rationalization of energy consumption, and infrastructure along with other sectors of rapid growth like electronics, water, power and agriculture.
Finally, Swartz said that Dow has been an influencing member in KAUST Program for industrial cooperation, which aims at marketing researches as part of the cooperation agreement it inked with the university in 2009.