Minister of Commerce and Investment Majed Bin Abdullah al-Qasabi underlined the importance of Saudi Authority for Intellectual Property Rights (SAIPR) role in improving the work environment, enhancing the knowledge-based economy, boosting foreign investments and opening the door for the innovations of the Saudi youth. During the first meeting of the board of directors of SAIPR, he said that “SAIPR will endeavor to uplift the Kingdoms standard in the international indicator of innovations, promote the small and medium enterprises (SMEs) and use the financial returns to boost the services in the field of intellectual property rights.” SAIPR is among the first achievements of the Ministry of Commerce and Investment within the National Transformation Program 2020 -- it aims to unify the jurisdiction of intellectual property rights under a single body. It will use the intellectual property rights to build a strong knowledge-based economy in the Kingdom, establish databases and exchange data with the other similar regional and international organizations. SAPIR will formulate a national strategy for intellectual property rights, follow up its implementation after it was approved, make operational plans and schedules for its work in collaboration with the concerned departments and propose laws and regulations related to the intellectual property rights. The board of directors of SAIPR is composed of representatives from the ministries of education, finance, national economy and planning, foreign affairs, communications and IT, the Saudi Food and Drugs Authority (SFDA), King Abdulaziz City for Science and Technology, the Directorate of Customs and two members representing the private sector. It is headed by Minister of Commerce and Investment Majed Bin Abdullah al-Qasab.