A modern sector for information and communication technologies is integral to today’s advanced industrial activities.
Saudi Vision 2030 aims to transform Saudi Arabia into a globally competitive ICT hub, with modern technologies and an empowered information society.
The ambition envisages many investment themes, including the development of the digital content and media, the expansion of the telecommunication system, the digitization of the country, and the creation of new high-tech and smart industries.
The government is working alongside the private sector to modernize the ICT infrastructure, enhancing the regulatory framework to enable new innovative investments, and building the most suitable ecosystem to support entrepreneurs and digital talents.
Facts & Figures
Information and Technology Value Proposition
Information and Communication Technology Hub
- Saudi Arabia is the biggest IT market in the MENA Region (Spending per year expected to reach 45 billion dollars by end of 2019)
- Saudi Arabia enjoys a strategic location to become a main IT service and cloud hub with access to international connectivity through Red Sea and Gulf, Central location to serve Europe, Asia and Africa
- As part of Saudi Vision 2030, all government entities are mandated to provide their services to citizens and stakeholders digitally, digitize their operations and go paper less.
- Creation of National Digitization Unit to support government in its digital transformation journey all sectors including healthcare, education, commerce... Etc
- 71% Digital maturity level percentage of eGovernment services (58% in 2016)
- Giga Projects: NEOM, Redsea, Qidiya, Waad Alshamal, SPARK and all the new projects are all technology first projects and will be build leveraging the latest technologies
- SMART Cities: Other than the new citites, Saudi Arabia aims to equip 5 existing cities with SMART infrastructure to be among the top 100 cities for worldwide
- Private sector: due to decrease in government subsidization for oil and increase in labor fees Saudi private sector is doubling down on technology to optimize their operations
- SMEs: currently SME participates to 20% of Saudi GDP and the government is prioritizing as part of vision 2030 to increase that number to 35%+ via easier business requirements and many financing programs which present huge opportunity for IaaS and SaaS provider
- With 100% of population covered by 2G and 3G (88% of which is covered by 4G), Saudi Arabia is among the highest countries when it comes to internet penetration
- Facebook (16 million users), Twitter (11 million users), Instagram (11 million users), Snapchat (14 million users) out of total population of 32 million
- E-commerce market size is 28.5 Billion SAR (vs 25 Billion SAR in 2017)
- 50% + of population shop online (vs 37% in 2016)
Information and Technology Opportunities
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Information and Technology Success Stories
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Investment Highlights - Winter 2020
In this fourth edition of “Investment Highlights” brought to you by Invest
SAUDI ARABIA ANNOUNCES 54% INCREASE IN NUMBER OF NEW INTERNATIONAL COMPANIES IN 2019, IN RECORD YEAR FOR FOREIGN INVESTMENT
• Saudi Arabia sees sharp uptick in the number of new international companies,
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