| عربي

Vice Minister of ICT calls upon Saudi-British Business Council to take advantage of ICT investment opportunities

20 Nov 2018
Vice Minister of ICT calls upon Saudi-British Business Council to take advantage of ICT investment opportunities
Vice Minister of ICT calls upon Saudi-British Business Council to take advantage of ICT investment opportunities
Vice Minister of ICT calls upon Saudi-British Business Council to take advantage of ICT investment opportunities
Vice Minister of ICT calls upon Saudi-British Business Council to take advantage of ICT investment opportunities

The Ministry of Communications and Information Technology (MCIT) of Saudi Arabia hosted on Tuesday, 20 November 2018, a meeting between the MCIT’s senior officials and the delegation of the Saudi British Joint Business Council (SBJBC).

The meeting was chaired by His Excellency Eng. Haitham Al-Ohali, Vice Minister of Communications and Information Technology and  Saudi and British Board Members of the Joint Business Council. It is aimed at explaining and discussing the business opportunities in the ICT sector, as well as the support provided by the sector, represented by the MCIT, for companies, businesspersons and investors. The meeting’s sessions addressed the common needs and opportunities for collaboration and vital areas to support the Saudi-British technical collaboration programme, which will strengthen the position of Saudi Arabia as one of the leading countries in the ICT sector. The two parties also set up a plan of action, including goals and recommendations, to ensure boosting their efforts to promote technical collaboration between the two countries.

Vice Minister Eng. Al-Ohali affirmed that the strategy of the MCIT is inspired by Saudi Arabia’s Vision 2030 aimed at promoting the culture of innovation and encouraging entrepreneurial projects in Saudi Arabia, and thus the MCIT is make substantial investments in nurturing and supporting young talent, ensuring the continued flow of new talent equipped with the latest ICT knowledge and other relevant skills that contribute to economic growth.

Eng. Al-Ohali stated that the MCIT’s strategic orientations are also focused on supporting the SME sector, describing it as a major engine for the Saudi Arabia’s rapid economic growth. He also added that the MCIT’s efforts are in line with its commitment to realising the Vision 2030, which is supportive of innovation and entrepreneurship as solid economic foundations underpinning it.

Al-Ohali also noted the increased importance of the meeting in light of the growing economic partnership between Saudi Arabia and the United Kingdom, pointing out the extensive attendance of businessmen and investors in the meeting reflects the deep relations and the common desire to explore wider horizons of the Saudi-British technical collaboration, and open up new fields to enhance joint relations and investments, especially as the economies of the two countries are characterised by openness and flexibility, making them attractive to foreign investments.

Chris Innes-Hopkins, UK Executive Director of SBJBC said: “SBJBC is delighted to be leading a strong delegation of innovative UK technology companies to Saudi Arabia to exchange experience on smart city solutions and identify opportunities for partnerships. The visit follows SBJBC’s SME Forum in London in April 2018 that brought over 100 Saudi and British tech-entrepreneurs together.  The delegates will be meeting a range of public and private stakeholders over 4 days in Jeddah and Riyadh, and look forward to a constructive visit.”

The Saudi British Joint Business Council is an independent and private sector-led body, which aims to develop and enhance business relations at all levels between Saudi Arabia and the United Kingdom. Through its British and Saudi members and its Secretariat in London and Riyadh, it offers a range of advisory services, as well as access to high-level governmental and private sector networks in both Saudi Arabia and the UK.

It is noteworthy that the United Kingdom has about 58,000 technology companies and many successful innovation centers, including London’s Tech City and regional centres of excellence, attracting $80 billion foreign investments to technology sector in 2016. Saudi Arabia’s annual ICT spending is estimated at $38 billion as demand for digital services rises. On the other hand, the Kingdom of Saudi Arabia is the largest ICT market in the Middle East and North Africa region following the launch of the Vision 2030.

Vision 2030 Saudi-British Business Council Vice Minister of ICT Ministry of ICT

Rating Content:
Average Rating:

Related News