At the recent Public Investment Fund’s Private Sector Forum held in Riyadh, the stc Group took a significant step to reinforce the local economy by establishing several new collaborations with domestic entities. The chairman of stc Group’s Board of Directors, Prince Mohammad Bin Khalid Al Abdullah Al-Faisal, graced the occasion with his presence during the signing of these agreements.
In representation at the forum, stc Group’s Rawafed program participated actively, including conducting a workshop with a focus on the enhancement of localization in procurement and supply chain processes.
The forum annually convenes a diverse group of stakeholders, including policymakers, influential private sector figures, and industry pioneers, to propel discussions on accelerating economic opportunities for the kingdom’s private sector.
Olayan Al-Wetaid, stc Group’s CEO, expressed his enthusiasm for the forum: We welcome the opportunity to participate once again at the PIF Private Sector Forum – a brilliant space to reaffirm our commitment to driving forward the Kingdom’s economic agenda. At stc Group, we are dedicated to providing world-class connectivity, driving digital transformation, and empowering sustainable growth.
Al-Wetaid pointed out that the agreements signed are a testament to stc Group’s intent to foster collaboration with local partners, stimulate innovation, and augment local content, aligning with the objectives of Vision 2030.
The scope of the agreements spans across various strategic goals of stc Group, including digital transformation and sustainability. Notably, a contract was established with Al Jazea Contracting & Trading Company for the construction of a grey water treatment plant, aiming to cut down water usage and support broader environmental sustainability targets.
Further enhancing customer experience capabilities, stc signed a deal with Master Works to augment its monitoring of new key performance indicators.
Additionally, stc Group entered into an eco-friendly partnership with Gazal, a PIF portfolio company, to facilitate sustainable transportation at its headquarters. Another significant collaboration was with Simah, aimed at developing a system to better integrate and validate partner data, thereby improving the partner onboarding experience through the ‘Partner Hub Enhancement’ initiative.
The group also signed contracts with Middle Sea for Telecommunication Establishment, Prime Gate Company, and Awnas Contracting Company, focusing on modernizing infrastructure and advancing sustainability efforts, particularly in the offloading of stc OSP infrastructure.
To cap off its participation, Rawafed contributed to the ‘Maximizing Local Content in Procurement’ workshop and exhibition, which allowed for direct registration of local partners, showcasing technological investment opportunities and highlighting stc Group’s best practices in localization.
The workshop facilitated the exchange of experiences, shedding light on strategies to strengthen local procurement and supply chain localization.
The PIF Private Sector Forum is renowned for attracting elite policymakers and leading private-sector institutions, serving as a pivotal platform for dialogue on enhancing local content and fostering private sector expansion within the Kingdom.