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Eye of Riyadh
Business & Money | Thursday 5 May, 2022 9:11 pm |
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KSA to the stars: Saudi delegation meets US tech, space companies

A Saudi delegation led by the Ministry of Communications and Information Technology is in the US to meet with major tech companies and innovation and space centers to enhance its regional role as a digital and technology powerhouse.

 

Minister of Communications and Information Technology Abdullah Al-Swaha led the delegation as it launched on Thursday a series of meetings with US companies. 

 

Saudi Arabia is a regional technology hub, with the delegation seeking to consolidate this position by inspiring the innovative and creative capabilities of Saudi youth.  

 

“To enhance the Saudi technology market, a number of meetings were held with companies specialized in software, financial technology and investment management,” the ministry tweeted on Thursday.

 

“To accelerate the growth of the digital content market in Saudi Arabia, to develop the creative capabilities of the sons and daughters of the country and support the #Ignite program, His Excellency @aalswaha meets with the CEO of @omnicom at its headquarters in New York City,” the ministry added.

 

Omnicom is a leading global marketing communications company providing the best talent, creativity and digital innovation in the world of integrated marketing services for more than 200 brands. Its client list includes some of the most iconic and successful brands around the world.

 

The meeting series aims to attract investments to the Kingdom by establishing strategic partnerships that promote and develop the digital economy, innovation and the space research-based economy in line with the Saudi Vision 2030 reform plans.

 

The realization of Saudi Vision 2030, which aims to diversify the economy away from fossil fuels, will rely heavily on technological development and innovation. 

 

The application of scientific and hi-tech knowledge will be a significant step towards the success of the plans.

 

Saudi Arabia has been ranked second globally among the G20 countries in the Digital Competitiveness Report for 2021. Issued by the European Center for Digital Competitiveness, the report based its findings on data provided by the Global Competitiveness Index issued by the World Economic Forum, and the supporting data provided by the World Bank and the International Telecommunication Union.

 

The Kingdom advanced 20 ranks in the general index compared to the previous year and 86 ranks in the digital ecosystem axis, topping the G20 countries, and achieved third place in the digital capabilities axis among G20 countries.

 

This progress consolidates the Kingdom’s continuous digital leadership. It also reflects the qualitative leaps made by the Kingdom in the telecommunications infrastructure, digital capabilities development and digital mega-projects. All of these improvements have been enhanced by the ICT sector strategy 2023, which is derived from the Saudi Vision 2030.

 

The Kingdom’s delegations to countries such as the US reflect its determination to continue the transformation into an innovation-based economy.

 

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