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SDAIA: Saudi Arabia is a Pioneer in Smart City Initiatives

The director of the National Information Center at the Saudi Data and AI Authority (SDAIA) confirmed that the Kingdom has launched initiatives in the field of smart cities. SPA
The director of the National Information Center at the Saudi Data and AI Authority (SDAIA) confirmed that the Kingdom has launched initiatives in the field of smart cities. SPA
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SDAIA: Saudi Arabia is a Pioneer in Smart City Initiatives

The director of the National Information Center at the Saudi Data and AI Authority (SDAIA) confirmed that the Kingdom has launched initiatives in the field of smart cities. SPA
The director of the National Information Center at the Saudi Data and AI Authority (SDAIA) confirmed that the Kingdom has launched initiatives in the field of smart cities. SPA

The director of the National Information Center at the Saudi Data and AI Authority (SDAIA), Dr. Esam bin Abdullah Al-Wagait, confirmed that the Kingdom has launched initiatives in the field of smart cities inspired by innovation.

He made a speech on Wednesday during the Smart City Expo World Congress held in Barcelona, where he said that generative artificial intelligence (AI) integrated into city services and urban solutions will become the cornerstone of future smart-city initiatives.

He also indicated that using the power of generative AI will not only include designs and urbanization of cities but will create smart cities adapted to the needs of their residents and promoting a sustainable and inclusive living environment.

Al-Wagait reiterated that in support of the increasing use of the Internet of Things (IoT), the Kingdom has demonstrated its commitment to the basic vision that stipulates enhancing the smart-city environment in which communication and connectivity are not just applied concepts but a lifestyle, seamlessly integrating IoT into the city’s technical structure.

He also underscored the transformation of the pioneering national project NEOM, as the project is a realistic embodiment of the future vision of smart cities through the effective use of IoT, big data, and AI, which aims to redefine the concepts of urban design and planning and set new global standards for efficiency in improving every aspect of the urban city and achieving well-being for its citizens.

He noted the transformation journey of SDAIA through its various initiatives, including establishing the Smart Riyadh Operations Center (Smart ROC), which works as a central point that uses data and AI techniques to monitor, analyze, and forecast operational indicators in various sectors in Riyadh. He said the major mission of the center is to address the city's challenges, improve quality of life, infrastructure, and urban services.

He said SDAIA has developed smart systems to monitor crowds and traffic through coordination with government agencies to build AI-based systems which supported the center to successfully manage traffic during the International Technology Conference (LEAP23) in Riyadh, led to reducing traffic congestion by 36% and ensured a quick and effective response to ambulance and emergency cases in record time.

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China Approves $840B Plan to Refinance Local Government Debt, Boost Economy

Visitors walk past a shop under construction with a dragon mural at the Sanlitun shopping district in Beijing, Friday, Nov. 8, 2024. (AP Photo/Ng Han Guan)
Visitors walk past a shop under construction with a dragon mural at the Sanlitun shopping district in Beijing, Friday, Nov. 8, 2024. (AP Photo/Ng Han Guan)
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China Approves $840B Plan to Refinance Local Government Debt, Boost Economy

Visitors walk past a shop under construction with a dragon mural at the Sanlitun shopping district in Beijing, Friday, Nov. 8, 2024. (AP Photo/Ng Han Guan)
Visitors walk past a shop under construction with a dragon mural at the Sanlitun shopping district in Beijing, Friday, Nov. 8, 2024. (AP Photo/Ng Han Guan)

China on Friday approved a 6 trillion yuan ($839 billion) plan to help local governments refinance their mountains of debt, in the latest push to rev up growth in the world’s second largest economy.

The plan will be implemented over the next three years, Xu Hongcai, vice-chairman of the National People's Congress's financial and economic committee, said at a news conference Friday.

Finance minister Lan Fo'an estimated that the hidden debt of local governments was 14.3 trillion yuan ($2 trillion) at the end of 2023. Hidden debt refers to debt that has not been disclosed publicly, The Associated Press reported.

Lan said 2 trillion yuan would be allocated each year from 2024 to 2026 to help local governments resolve their debts. He estimated that the amount of hidden debt will drop to 2.3 trillion yuan ($320.9 billion) by the end of 2028.

Officials also said Friday that the ceiling to issue special bonds will be raised to 35.52 trillion yuan ($4.96 billion) from 29.52 trillion yuan ($4.12 billion) for local governments.

Lan said that the implementation of such a large-scale replacement measure indicates a “fundamental shift” in China's approach to debt restructuring and said that China’s government debt risk was “controllable.”

Analysts have called for bold, multi-trillion-yuan measures to reinvigorate the world's second largest economy, which has yet to bounce back fully from the COVID-19 pandemic.
Local government debts have ballooned partly due to high spending and low tax revenues during the pandemic, but also due to a downturn in the property industry, since sales of land use rights, a key source of local government revenue, have sagged.

The central bank loosened restrictions on borrowing in late September, sparking a stock market rally, but economists say the government needs to do more to ignite a sustained recovery. Government officials have indicated that could come at this week's meeting of the Standing Committee of the National People's Congress, which must give official approval to any new spending.

The economy has shown signs of life in the past two months. Purchase subsidies offered to people who trade in old cars or appliances for new ones helped auto sales rebound in September. A survey of manufacturers turned positive in October after five straight months of decline, and exports surged 12.7% last month, the largest increase in more than two years.

For most of the year, the ruling Communist Party appeared more focused on addressing long-term structural issues with the economy rather than short-term ones. Previous steps to boost the economy were piecemeal, seemingly aimed at keeping the economy afloat rather than sparking a robust recovery.

In recent weeks, the party has signaled a growing concern about the economy's sluggishness as it tries to meet its goal of achieving growth of around 5% this year. The central bank's monetary easing was followed by government pronouncements that it still has ample funds to pump into the economy.

Still, the longer-term goals of transforming China into a high-tech and green energy economy seem likely to remain the chief aims of the Communist Party, which doesn't face election pressures like the ones that toppled the Democrats and swept Donald Trump's Republicans to power in America this week.