The Middle East petrochemical and chemical industry should increase the pace of transformation to keep up with accelerated global trends, according to Yousef A Al-Benyan, vice-chairman and CEO of SABIC and chairman of the Gulf Petrochemical and Chemical Association (GPCA)
He said this during the 15th Annual Forum of the GPCA in Dubai.
Meeting physically for the first time since 2019, the three-day forum brought together an audience of more than 2,100 industry leaders to address a forward-looking theme: Redefine. Reshape. Reinvent. The chemical industry in a post-pandemic reality.
He said, “We’ve been talking about transforming our industry for several years now. But the time has come to make use of the GPCA platform to redefine, reshape and reinvent various aspects of our industry so that it proceeds – much more quickly and surely – to future success.”
Al-Benyan also outlined the vital role that the chemicals and petrochemical industry must play in the delivery of national carbon neutrality strategies. He added, “A circular economy requires a framework for composing a nation’s development. Infrastructure, transportation, manufacturing and food production must all be orchestrated. Decarbonisation and circularity are not just for one company or even for one industry. They are for the whole of society and the economy. The solution has to be generated through collaboration not only within the chemical industry but also across multiple industries in the value chain.”
The GPCA Annual Forum also heard from Murhaf Al-Madani, vice-president of SABIC’s corporate digitalisation programme and Hosam Al-Zamil, vice-president of SABIC’s global supply chain. They joined GPCA masterclass panels and shared ideas aimed at leveraging technology, increasing supply chain resilience and achieving new growth in the post-pandemic world.
