The Kingdom of Saudi Arabia is asserting its position as a dynamic leader in the development of innovative global solutions that span multiple sectors including health, sustainability, energy, and industrial growth. The nation’s strategic direction and goals for innovation, research, and development are being fueled by the support of King Salman bin Abdulaziz Al-Saud and Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud.
As the Kingdom prepares to engage in the World Economic Forum in Davos, Switzerland, the Minister of Communications and Information Technology, Eng. Abdullah bin Amer Al-Swaha expresses pride in Saudi Vision 2030’s impact. Spearheaded by the Crown Prince, this vision is crafting a bold narrative of economic and social reform, particularly within the digital economy.
According to Eng. Al-Swaha, these advancements have transformed Saudi Arabia into a pivotal center for technology and innovation in the region, creating the largest tech market in the area with a value surpassing $43 billion. The Kingdom is also being recognized as a leading talent pool for digital skills, nurturing a workforce of over 354,000 individuals, with a significant 35% growth in women’s empowerment within the sector—a figure that outstrips averages in the European Union, G20, and even Silicon Valley.
The minister also underlines Saudi Arabia’s role as a thriving investment hub, with venture capital investments in 2023 marking the nation as the foremost in the region for attracting funds over $1.3 billion. This represents a majority of the investment activity in the Middle East and North Africa, demonstrating the Kingdom’s central role in regional economic expansion and innovation.
Eng. Al-Swaha further notes that the Kingdom’s participation in global forums is not merely to exhibit its progress, but also to foster international partnerships for economic integration. By leveraging advancements in technical economies and artificial intelligence, Saudi Arabia aims to contribute to a flourishing and equitable global digital future.