12/04/2025

Minister of Communications Meets with the Business Sector at the Federation of Saudi Chambers, Showcases Achievements and Tech Investment Opportunities

H.E. Eng. Abdullah Alswaha, Minister of Communications and Information Technology, held an extensive meeting with the business sector at the headquarters of the Federation of Saudi Chambers, in the presence of the Federation’s President, Hassan bin Mujeb Al-Huwaizi; chairpersons of national committees; foreign business councils; and representatives of various companies.

At the beginning of his remarks, His Excellency emphasized that the private sector in technology, telecommunications, and innovation has achieved remarkable accomplishments thanks to the support and empowerment of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. Alswaha noted that the private sector is the primary enabler and first partner in all digital achievements realized.

His Excellency explained that the development journey began in 2017 with the “Enablement Phase,” which focused on improving the regulatory environment, strengthening digital infrastructure, and launching pioneering projects and innovative models in digital commerce and payments. This was followed by the “Transformation Phase” in 2020, which centered on accelerating the growth of the digital economy, attracting high-quality investments, enhancing local content, and empowering entrepreneurship, venture funds, and startups. The journey then progressed to the “Innovation Phase” in 2025, highlighted by the launch of HUMAIN, a globally leading company in AI solutions.

The Minister showcased key digital achievements, noting that Saudi Arabia ranked first among G20 countries in digital competitiveness. The telecommunications and IT market reached 190 billion SAR with 80% growth. The number of digital talents rose to 406,000, an increase of 62%. Venture capital investments reached 5.4 billion SAR, marking a 3,100% increase. Additionally, the Kingdom is home to eight tech unicorns, commanding 50% of the region’s market share.

His Excellency further stated that the National IT Development Program has supported more than 3,000 companies, contributed to the execution of 446 AI projects and 1,187 startup initiatives, and created over 17,000 jobs.

For his part, the President of the Federation of Saudi Chambers, Hassan Al-Huwaizi, said: “The support provided by the leadership has positioned the Kingdom as the global leader in digital government services. The communications and IT sector is a vital economic driver and a pathway to the future.” He praised the Ministry’s efforts in making the Kingdom’s ICT sector the fastest-growing and most attractive for investment, highlighting the importance of such meetings in enhancing integration between the public and private sectors to create opportunities and projects.

It is worth noting that this meeting comes as part of a series of regular engagements held by the Federation of Saudi Chambers with Their Highnesses, Excellencies, and government officials to consult on regulations and policies, discuss economic developments, review investment opportunities, and listen to investors’ feedback, thereby enhancing the business environment and stimulating both local and international investments