Riyadh – Saudi Arabia continues its role as an active global leader and initiator in finding innovative and global solutions, said Minister of Communications and Information Technology, Eng. Abdullah bin Amer Al-Swaha.
He highlighted the contribution and support of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud, and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.
The minister noted that this is in the service of humanity and in building an interconnected and innovative future in various fields, including public health, sustainability, energy, industry, and the economies of the future. This aligns with the ambitions and national priorities for research, development, and innovation declared by the Kingdom.
Eng. Al-Swaha said in a statement to the Saudi Press Agency (SPA), during the preparations of the Kingdom’s delegation to participate in the World Economic Forum meetings in Davos, Switzerland, from January 15 to 19 this year, that the Saudi Vision 2030, led by the Crown Prince, stands as the most significant narrative of economic and social transformation.
He also highlighted the transformation brought about by the vision in the realm of the digital economy.
The minister said that this has positioned the Kingdom as the central hub for technology and innovation in the region, boasting the largest technology market with a valuation exceeding $43 billion.
Eng. Al-Swaha indicated that the Kingdom stands as the primary hub for talent and digital capabilities, encompassing over 354,000 young men and women.
He also stated there has been qualitative growth in women’s empowerment, reaching 35 percent, surpassing the averages of the European Union, G20, and Silicon Valley.
He emphasized that the Kingdom is the pulsating investment hub for the region’s prosperity and growth.
Furthermore, he added that the total venture capital investments in 2023 positioned the Kingdom at the pinnacle, securing its position as the largest country in the region to attract investments exceeding the threshold of $1.3 billion.
This achievement represents more than half of the investments realized in the Middle East and North Africa region, he said.
Eng. Al-Swaha also pointed out that the participation of the Kingdom’s delegation serves as a platform to showcase the Kingdom’s endeavors and innovative business models across various fields.
Additionally, he said it aims to strengthen international cooperation for comprehensive economic integration by investing in technical economies related to artificial intelligence. The overarching goal is to construct a prosperous global digital future for all.