Vision 2030

LTIMindtree has inked a deal with the digital and technology arm of Aramco, known as Aramco Digital, to set up a novel IT services entity within Saudi Arabia. This venture is poised to be a beacon of innovation, showcasing groundbreaking digital services and advanced industry 4.0 integration. The initiative is in line with the Kingdom's Vision 2030, aiming to generate...

IBM is gearing up to enhance its presence in the Middle East with a substantial investment aimed at fostering innovation in line with Saudi Arabia's long-term goals. Riyadh, Saudi Arabia: A global powerhouse in hybrid cloud, AI, and consulting services, IBM has unveiled plans to pour more than $200 million into a new state-of-the-art IBM Software Lab in Riyadh, the...

IBM, a global frontrunner in hybrid cloud services, artificial intelligence (AI), and consulting, has revealed its intention to channel over $200 million into the establishment of a new IBM Software Lab in Riyadh, the capital of Saudi Arabia. This move is a testament to IBM's pledge to bolster its presence in the region and aligns with Saudi Arabia's ambitious Vision...

Saudi Arabia's Minister of Tourism, Ahmed Al-Khateeb, has announced the launch of an innovative initiative designed to accelerate the nation's rapidly expanding tourism industry. The Tourism Investment Enabler Program (TIEP) is set to create a hospitable and financially attractive climate for both local and global investors, establishing Saudi Arabia as a prominent player on the world tourism stage with a...

The sovereign wealth funds of Saudi Arabia and Bahrain have penned a Memorandum of Understanding (MoU) to amplify cooperation and investment across pivotal sectors.This pact is designed to broaden collaborative efforts and pave the way for new and lucrative investment ventures in Bahrain, as announced by the Public Investment Fund (PIF) of Saudi Arabia and Mumtalakat, the investment arm of...

In a significant move to enhance Riyadh's housing landscape, the National Housing Company (NHC) has joined forces with Talaat Moustafa Group—Saudi Arabia (TMG) to announce the commencement of the Banan City Project. This initiative was set in motion under the auspices of Majid bin Abdullah Al-Hagail, the Minister of Municipal and Rural Affairs and Housing. The inauguration ceremony was graced...

A strategic alliance has been forged between Aramco Digital, the tech-driven arm of Aramco, and LTIMindtree, a leader in digital solutions and technology consulting, to establish a new IT services firm within Saudi Arabia. The upcoming enterprise is set to embody innovation through cutting-edge digital services and advanced systems integration for industry 4.0. This initiative aligns with the nation's ambitious...

The Kingdom of Saudi Arabia has set a new precedent in the global travel sector by successfully attracting a record number of 100 million tourists, earning praise from the Arab Tourism Organization (ATO). This accomplishment positions Saudi Arabia as an exemplar in the international tourism landscape.The ATO acknowledged the strategic efforts of the Saudi Ministry of Tourism in leveraging the...

The Saudi-Brazilian Business Forum, a pivotal event that brought together 150 investors from varied economic sectors of Saudi Arabia and Brazil, was conducted recently. The forum served as a platform to bolster the robust economic ties between the two nations, which have been nurtured over 55 years, and currently boast a trade volume of approximately $8 billion. In his address,...

Riyadh, Saudi Arabia – Atos has announced its intent to establish a state-of-the-art Sports Technology Centre of Excellence. This hub is set to open its doors within the new Atos MENA headquarters in Riyadh during the second quarter of 2024.The disclosure, made during the LEAP 2024 event, indicates that the Centre of Excellence will draw upon Atos’ extensive experience in...

In 2022, Saudi Arabia allocated $5.1 billion to research and development, marking a significant 32.7% increase from the $3.9 billion invested in the previous year.A historic memorandum of understanding was inked between Britain and Saudi Arabia, aimed at fortifying the science and technology research connections between the two nations. This strategic move is set to unlock the potential for Saudi...

Saudi Arabian Airlines, colloquially known as SAUDIA, has proudly announced its participation in the third iteration of the LEAP tech conference. This prestigious event is taking place from the 4th to the 7th of March, 2024, at the Riyadh International Convention and Exhibition Center.At the forefront of SAUDIA's exhibition is its array of digital advancements, signaling a transformative phase in...

The Saudi Arabian government is channeling a significant segment of its $3.3 trillion investment, earmarked for the economic overhaul envisaged in Vision 2030, into developing the nation's human capabilities. The Minister of Investment underscored the critical nature of this endeavor, highlighting education as a fundamental investment sector.During a prominent event in Riyadh dedicated to the Human Capability Initiative, he emphasized...

Anticipation is building in Saudi Arabia as the Tourism Development Fund (TDF) and New Murabba Development Co. join forces, paving the way for increased financing and investment initiatives in the Kingdom's ambitious new downtown project. The collaboration, cemented with a memorandum of understanding (MoU), is set to propel the nation's socio-economic advancement with the development of New Murabba, located to...

In the Kingdom of Saudi Arabia, the labor market is experiencing a surge of activity, with a significant majority of employers set to bolster their teams. A recently released report indicates that a substantial 69% of companies in the region are preparing to expand their workforce during the current year.The findings, disclosed by a prominent recruitment agency in its annual...

Riyadh, KSA: A recent study by PwC has unveiled a strong sense of assurance among Saudi Arabian CEOs regarding the economic upswing of the Kingdom, with anticipation surpassing that seen on a global scale, as well as within the Middle East and Gulf Cooperation Council (GCC) regions. The Kingdom's gross domestic product (GDP) soared past the US$1 trillion milestone in...

The Saudi Ports Authority, also known as Mawani, recently held a ceremony to acknowledge the accomplishment of critical financial targets set by the Expenditure & Projects Efficiency Authority. The event recognized the outstanding contributions of various individuals who played a pivotal role in achieving these objectives. At the ceremony, which featured Mawani's President, Omar Hariri, and the CEO of the...

The Ministry of Energy in Saudi Arabia has heralded a significant stride in the nation's energy sector with the successful introduction of Euro 5 standard clean diesel and gasoline across its markets, marking a departure from earlier fuel types. These advanced fuels are designed to be compatible with all modes of transportation, and are part of the Kingdom's ambition to...

The fintech sector in Saudi Arabia is undergoing a significant evolution, driven by the country's strategic Vision 2030 objectives and an increasing demand for digital financial services. A detailed analysis by Ken Research predicts a robust growth for this sector, with an expected compound annual growth rate (CAGR) of 12.5% over the next five years. This expansion offers a wealth...

Consulum, a renowned strategic advisory firm with over ten years of service in the Kingdom, recently inaugurated their advanced regional headquarters in Riyadh. The capital city, known as a burgeoning nexus for commerce and the epicenter of the region's extensive development initiatives, provides a fertile ground for businesses to flourish within the dynamic commercial milieu of the Kingdom.Choosing Riyadh as...

ROSHN Group, the premier real-estate developer in Saudi Arabia backed by the Public Investment Fund (PIF), has proudly declared its role as the sponsor for the 10th anniversary of the influential Retail Leaders Circle (RLC) MENA Summit. Slated to take place on February 19-20, the summit will unfold at the Ritz Carlton in Riyadh.The RLC MENA Summit has established itself...

Tokyo - In a stride towards urban technological advancement, Japanese tech firm Uhuru has initiated an IT training program for engineers from the Saudi National Research Institute. This move is part of a strategic cooperation with Saudi Arabia's King Abdulaziz City of Science and Technology (KACST), established in 2022, to foster smart city and environmental technology development. As a component...

Based in Tokyo, the Japanese firm Uhuru is at the forefront of integrating intelligent technologies into urban living and has recently initiated a program to upskill IT professionals from the Saudi National Research Institute within Japan's tech landscape. The collaboration between Uhuru and the Saudi Arabian entity, King Abdulaziz City of Science and Technology (KACST), was officially formed in 2022...

The introduction of a unified tourist visa by the Gulf Cooperation Council (GCC) is poised to significantly influence the travel industry within Saudi Arabia as well as across the neighboring region. This sentiment was expressed by a high-ranking official within the Saudi government.Distinguished figures, including Saudi Arabia's Minister of Tourism, Ahmed Al Khateeb, were present at the eighth assembly of...

The Gulf Cooperation Council (GCC) is making headway in the business media sector with significant developments in regional tourism. At a recent meeting in Doha, tourism ministers from GCC countries convened to explore avenues for deepening cooperation and advancing the tourism industry. One of the crucial topics discussed was the implementation of a unified tourist visa for the GCC states,...

The Finance Minister of Saudi Arabia, Mohammed Al-Jadaan, recently highlighted that the nation's non-oil gross domestic product (GDP) is experiencing an upward trajectory, with a current growth rate surpassing four percent and expectations to go beyond five percent in the coming years.During his participation in a discussion at the 3rd Saudi Capital Market Forum held in Riyadh, Al-Jadaan pointed out...

The economic stature of Saudi Arabia has experienced a remarkable surge, with its Gross Domestic Product (GDP) escalating from SR2.6 trillion, equivalent to $690 billion, to surpassing the SR4 trillion mark, which is over $1.07 trillion. This growth has catapulted the nation to the 16th position among the influential G20 countries, as disclosed by Khalid Al-Falih, the Saudi Minister of...

The Kingdom of Saudi Arabia has been surpassing expectations in drawing investment flows, as articulated by the country's Investment Minister, Khalid Al-Falih.This sentiment was shared during a discussion at the third Saudi Capital Market Forum (SCMF) in Riyadh, which also featured Faisal Alibrahim, the Minister of Economy and Planning, and Mohamed AlTuwaijri, vice chairman of the Saudi National Development Fund.The...

The Kingdom of Saudi Arabia is surpassing expectations in its efforts to draw investments, as reported by the Kingdom’s Investment Minister, Khalid Al-Falih.Al-Falih conveyed these developments at the third Saudi Capital Market Forum (SCMF) in Riyadh, where he participated in a panel with Faisal Alibrahim, the Minister of Economy and Planning, and Mohamed AlTuwaijri, the vice chairman of the Saudi...

RIYADH, SAUDI ARABIA – The tech landscape in Saudi Arabia takes a significant leap forward as Marhaba Blockchain Information Systems (MRHB), a leader in web3 Infrastructure, announces a strategic partnership with the nation's revered Digital Economy Centre (DEC). This alliance is poised to enhance Distributed Ledger Technology (DLT) and Artificial Intelligence (AI) initiatives, in line with the objectives of the...