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Saudi Arabia and Russia explore promising digital investment opportunities

28 Aug 2019
Saudi Arabia and Russia explore promising digital investment opportunities
Saudi Arabia and Russia explore promising digital investment opportunities

In cooperation with the Ministry of Digital Development, Communications and Mass Media of the Russian Federation, The Ministry of Communications and Information Technology (MCIT) of Saudi Arabia organized a workshop and an introductory meeting for a group of Russian ICT companies. The meeting was co-chaired by Vice Minister of Communications and Information Technology. Eng. Haitham Al-Ohali and Deputy Minister of Digital Development, Communications and Mass Media Mr. Mikhail Mamonov. It featured over 53 Saudi and Russian ICT companies, in addition to ICT-related government agencies from both parties.

The workshop is aimed at enhancing technical and economic collaboration opportunities and highlighting the investment opportunities available to both parties, with a view to serve the common development goals of Saudi Arabia and the Russian Federation, and to stimulate ICT companies in both countries to play a bigger role in the development of bilateral relations.

At the outset of the workshop, Vice Minister Haitham Al-Ohali delivered a speech in which he confirmed that both countries have many promising investment opportunities in this vital and important field, calling for joining efforts and upscaling partnership to higher levels where the outputs are satisfactory to the aspirations of the leadership and peoples of the two countries.

During the workshop, a visual presentation was presented by the Saudi Arabian General Investment Authority (SAGIA), which reviewed the investment opportunities and steps in the ICT field and how to facilitate procedures for investors. It was followed by presentations of the participating ICT companies.

The meeting discussed a number of relevant topics, most notably, the means of developing the ICT sector and benefiting from the Russian experience in this regard. It is expected to be an important milestone in the bilateral relations in the field of technology.

On the sidelines of the workshop, a government meeting was held between the Ministry of Communications and Information Technology and its Russian counterpart. The two parties discussed ways to enhance ICT cooperation as well as opportunities for joint digital investment, to achieve growth and prosperity in this vital and important sector in order to accelerate the steps to achieve comprehensive digital transformation in the Kingdom, in line with the Vision 2030.

Ministry of ICT MCIT Saudi Arabia Russia digital transformation Vision 2030

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