The King Abdullah Petroleum Studies and Research Center (KAPSARC) held a webinar on June 10 entitled “Input-Output Analysis on Saudi Arabia” to discuss the results of the vision 2030 IOT research project and shape further research directions in the field of economic diversification.
The objectives of the workshop were to discuss the results of the V2030 IOT research project with an international audience, explore the latest approaches and methodologies in the input-output framework, and provide space for research cooperation when it comes to the Saudi economy.
“Enhancing the Kingdom by adequate and flexible energy economic tools and research papers that address the energy economics hot topics locally and globally and supporting the policy makers with the best solution to achieve economic diversification is one of the 10 center initiatives,” said Dr. Fahad Al-Turki, VP of research at KAPSARC.
He emphasized that this joint project with Saudi Aramco is seeking to develop a dynamic input output which would reflect the anticipated structural and technological changes in the Saudi economy, notably in the context of Vision 2030.
“Thismethodology allows us to implement the significant and relatively sudden economic changes or shocks such as COVID-19 as well as analyze their impacts on the Vision 2030 deliverables,” he added.
The Vision 2030 Dynamic Input-Output Table research project is aiming to provide a comprehensive picture of the Saudi economy in the post-Vision 2030 era, focusing on performance, composition and the energy sector.
The latest workshop shed light on channels through which output is likely to be produced, distributed and consumed in the transformed economy, with particular emphasis on the link between the economy and energy.
KAPSARC’s research continues in the face of global current events. Earlier in February, KAPSARC jumped 14 positions to place 15th in the MENA category according to the University of Pennsylvania 2019 Global Go To Think Tank Index Report. The center has also climbed up four places in the Energy and Resources Policy category, where now it ranks 13th globally.