Saudi Arabia Prepares 10 Regions to Become Among Top 50 Global Cities

The Minister of Municipal, Rural Affairs and Housing speaks to the audience in the opening speech of the forum. (Asharq Al-Awsat)
The Minister of Municipal, Rural Affairs and Housing speaks to the audience in the opening speech of the forum. (Asharq Al-Awsat)
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Saudi Arabia Prepares 10 Regions to Become Among Top 50 Global Cities

The Minister of Municipal, Rural Affairs and Housing speaks to the audience in the opening speech of the forum. (Asharq Al-Awsat)
The Minister of Municipal, Rural Affairs and Housing speaks to the audience in the opening speech of the forum. (Asharq Al-Awsat)

Saudi Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail said that the Kingdom was working to transform at least 10 Saudi cities to become among the top 50 global cities, by achieving the factors of governance, sustainability, and interaction with residents.

His remarks came on the sidelines of the Global Smart City Forum, organized by the Saudi Data and Artificial Intelligence Authority (SDAIA) on Monday in Riyadh with the participation of world experts in the field of building smart cities and artificial intelligence.

Smart municipalities

Al-Hogail noted that the ministry’s strategy was based on Vision 2030 and was aimed at urban growth and portraying cities as vibrant centers of sustainable development and technology, where the aspirations and well-being of people are met.

He added that the strategy achieves the concept of smart municipalities and develops urban centers in existing cities, by taking advantage of AI technology and data.

Smart applications

Al-Hogail went on to say that the ministry aims for the well-being of the population by laying the foundations for smart cities and municipalities, as part of its steps to enhance community interaction in the “Baladi” application, which has received global praise as one of the most prominent smart applications in the United Nations.

For his part, Dr. Abdullah Al-Ghamdi, head of SDAIA, explained that the forum aims to achieve three goals: anticipating sustainable smart cities in the future, promoting smart government initiatives worldwide, and motivating companies to invest in building smart solutions.

He stated that in 2023, the joint efforts of government agencies that used the national smart cities platform “Smart C” contributed to reducing traffic congestion on a road network leading to the site of a huge conference in Riyadh by 36 percent, compared to 2022.

Al-Ghamdi also revealed the launch of the Smart Cities Accelerator with strong participation from local and international startups, which created commercial opportunities and facilitated market access for more than 100 teams from 39 universities.



IMF Grants Egypt Initial Approval of $1.2 Bln Fourth Review

Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
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IMF Grants Egypt Initial Approval of $1.2 Bln Fourth Review

Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)
Santa Claus toys are displayed in a shop with Christmas decorations in Cairo, Egypt, December 23, 2024. (Reuters)

The International Monetary Fund said on Wednesday it reached a staff-level agreement with Egypt on the fourth review under its Extended Fund Facility arrangement, potentially unlocking a $1.2 billion disbursement under the program.

Egypt, grappling with high inflation and shortages of foreign currency, agreed to the $8 billion, 46-month facility in March. A sharp decline in Suez Canal revenue caused by regional tensions over the last year compounded its economic woes.

The IMF said Egypt's government had agreed to increase its tax-to-revenue ratio by 2% of gross domestic product over the next two years, with a focus on eliminating exemptions rather than increasing taxes.

This would give it space to increase social spending to help vulnerable groups, the IMF said in a statement.

"While the authorities' plans to streamline and simplify the tax system are commendable, further reforms will be needed to enhance domestic revenue mobilization efforts," the statement said.

Egypt had agreed to make more decisive efforts to ensure the private sector became the main engine of growth and to sustain its commitment to a flexible exchange rate, the IMF statement added.

The staff-level agreement of the fourth review must still be approved by the IMF's executive board.