Ministry of Economy and Planning & SDAIA Sign an MoU to Harness the Use of Data and AI in Development Plans and Economic Policies

The Ministry of Economy and Planning today signed an MoU with the Saudi Data & AI Authority (SDAIA) to explore ways AI and data can strengthen policymaking and economic growth.

The agreement was signed in Riyadh by His Excellency Faisal bin Fadhil Alibrahim, Minister of Economy and Planning, and His Excellency Dr. Abdullah bin Sharaf Alghamdi, President of SDAIA.

The MoU creates a framework for closer strategic cooperation in key areas, including developing indicators monitoring the impact and effectiveness of social and economic policies in the Kingdom.

Government data modeling and simulation techniques will be substantially enhanced through this partnership. The frequency of policy evaluation will also be strengthened to better understand how the Kingdom’s public plans, programs, and initiatives impact the economy, business, and civil society. Both parties will also deepen cooperation by accelerating the integration of the latest economic and scientific reports and intelligence into new social and economic government policy.

The Ministry’s strategic agreement with SDAIA underpins a concerted effort to support and develop economic policy and development by turning data into a strategic asset that can be applied to pursue the public good. It will enable the Kingdom to keep pace with the latest developments in data analytics and artificial intelligence, supporting economic growth in line with Saudi Vision 2030.