Saudi Arabia, Four Countries Sign Cybersecurity MoUs

The 2023 edition of the Global Cybersecurity Forum, held in Riyadh
The 2023 edition of the Global Cybersecurity Forum, held in Riyadh
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Saudi Arabia, Four Countries Sign Cybersecurity MoUs

The 2023 edition of the Global Cybersecurity Forum, held in Riyadh
The 2023 edition of the Global Cybersecurity Forum, held in Riyadh

Saudi Arabia’s National Cybersecurity Authority (NCA) signed four memoranda of understanding (MoUs) for cooperation in cybersecurity with national bodies in Qatar, Romania, Spain, and Kuwait on the sidelines of the third edition of the Global Cybersecurity Forum (GCF).

The MoUs were signed between the Saudi NCA and Qatar’s National Cyber Security Agency (NCSA), Romania’s National Cyber Security Directorate (DNSC), the Spanish National Cybersecurity Institute (INCIBE), and Kuwait’s National Cyber Security Center (NCSC).

The 2023 edition of the Global Cybersecurity Forum, held in Riyadh under the theme “Charting Shared Priorities in Cyberspace,” concluded Thursday after heavy global participation, including 150 high-level speakers and attendees from 120 countries.
The two-day GCF served as a platform for discussing strategic orientations and crucial international issues in the cyberspace domain.

Participants from around the world engaged in dialogue on cooperation and unified efforts in cybersecurity and discussed maximizing opportunities, transferring knowledge, and enhancing human and technical capabilities in the sector.

The forum featured 35 discussion sessions, attended by decision-makers, CEOs, and senior officials from the public and private sectors at both the local and international levels.



Saudi Arabia Reports SAR540 Billion in Services Trade with 7% Annual Growth

Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)
Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)
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Saudi Arabia Reports SAR540 Billion in Services Trade with 7% Annual Growth

Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)
Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)

Saudi Minister of Commerce Dr. Majid Al-Kassabi announced on Wednesday that the Kingdom’s trade in services reached SAR540 billion in 2023, reflecting an annual growth rate of 7%.

Speaking at a panel discussion on Trade in Service at the World Economic Forum in Davos, he underscored the global significance of the services sector, which makes up approximately 65% of the world’s gross domestic product (GDP), 60% of foreign investments, and serves as the largest provider of jobs worldwide, particularly benefiting women.

He emphasized the need for global collaboration to reduce regulatory and procedural obstacles in the services sector, adding that simplifying these systems would boost competitiveness and alleviate burdens on small and medium enterprises (SMEs), thereby raising their economic contribution.

Al-Kassabi outlined Saudi Arabia’s significant investments in digital infrastructure, including SAR93.7 billion already spent and an additional SAR75 billion allocated for future projects.

The investments, he said, aim to support digital transformation, boost businesses, and attract foreign investments.

The Kingdom has partnered with international organizations to establish legislative frameworks that protect investments and advance human resource development and has created a Center for Distinguished Residence to attract skilled talents, he went on to say.

The World Economic Forum emphasized the critical importance of collaboration between the public and private sectors for the future of trade in services. It highlighted its partnership with the National Competitiveness Center on the Facilitating and Developing Trade in Services initiative, which focuses on key sectors such as information and communications technology (ICT), finance, transportation and logistics services, and mining. The sectors are vital as they underpin all economic activities.