عربي English Türkçe اردو فارسى
Logo
Latest News
Business

The World’s Eyes Turn to Riyadh for Launch of LEAP 24

The second edition of LEAP (SPA)
The second edition of LEAP (SPA)
TT
TT

The World’s Eyes Turn to Riyadh for Launch of LEAP 24

The second edition of LEAP (SPA)
The second edition of LEAP (SPA)

LEAP24, the world’s largest technological exhibition, kicked off on Monday in Riyadh, with the participation of more than 1,800 international and local exhibitors, and more than 1,000 technical experts and 600 startup companies.

Organized by the Ministry of Communications and Information Technology and the Saudi Federation for Cybersecurity, Programming and Drones, the exhibition, which runs from March 4 to 7, highlights the latest technology industries and unveils government AI initiatives and the newest innovations.

In its current edition, the conference has expanded the number of participants from major technical exhibitors in the world, in addition to the presence of an elite group of expert speakers and international companies.

The current version will see the participation of world tech giants, including Google, Microsoft, Oracle, Dell, Cisco, SAP, Amazon Web Services, Alibaba, Huawei, Ericsson, and others.

More than 30 government agencies are competing to showcase their advanced digital services, through the “Digital Saudi Arabia” exhibition, organized by the Digital Government Authority within the activities of LEAP 24, with the participation of many government and private agencies.

The event aims to enhance the Kingdom’s international position as an innovative digital environment, highlight success stories in the digital transformation journey, and its importance at the regional and international levels, in addition to unveiling the most prominent digital government services aimed at raising the quality of life and enhancing competitiveness.

The exhibition will see government agencies and national companies showcasing their digital products and services based on innovative models using emerging technologies, in addition to the signing of strategic agreements and the launching of new services, dialogue sessions for a number of ministers and officials, and workshops in the field of digital transformation.

The LEAP conference witnessed rapid developments over its years, as the total number of launches increased from $6.4 billion in the first edition to more than $9 billion in the second edition, while the number of attendees increased from 100,000 visitors in the first edition to more than 172,000 in the second year.

Most Viewed

 
 
Business

Saudi Arabia Approves ‘Golden Handshake’ Program Inspired by Global Models

Employees at the Saudi Ministry of Human Resources and Social Development booth at a conference (X)
Employees at the Saudi Ministry of Human Resources and Social Development booth at a conference (X)
TT
TT

Saudi Arabia Approves ‘Golden Handshake’ Program Inspired by Global Models

Employees at the Saudi Ministry of Human Resources and Social Development booth at a conference (X)
Employees at the Saudi Ministry of Human Resources and Social Development booth at a conference (X)

Saudi Arabia has introduced the “Golden Handshake” program to offer financial incentives for government employees to voluntarily resign.

The goal is to reduce costs related to salaries and benefits for long-serving workers, creating space for others with lower salaries and skills suited to the country’s digital transformation.

The government has allocated SAR 12.7 billion ($3.38 billion) for the first three years of the program, inspired by similar global initiatives.

As of the fourth quarter of 2024, Saudi Arabia’s public sector employs 1.2 million people, excluding the military. The kingdom spends about 40% of its budget on salaries and employee compensation, with SAR 544 billion ($145 billion) set aside for this in 2024.

Experts, who spoke to Asharq Al-Awsat, have differing opinions on the financial compensation under Saudi Arabia’s “Golden Handshake” program for government employees. One expects the severance package to range from 12 to 24 months of salary, while another estimates it could be from 24 to 60 months of salary.

While the “Golden Handshake” is not new in Saudi Arabia, where large companies offer early retirement packages, it is a new approach for the public sector, which is traditionally seen as offering job security.

The Saudi program is similar to global initiatives encouraging voluntary resignations when employees’ skills are no longer needed. For example, the US offers up to $25,000 for employees who leave voluntarily, while the UK offers up to £149,800 for retiring police officers.

Dr. Mohammed Dulaim Al-Qahtani of King Faisal University expects compensation to range from 12 to 24 months of salary. For example, with a monthly salary of SAR 15,000, the package could range from SAR 180,000 to SAR 360,000.

Badr Al-Anzi, board member of the Saudi Human Resources Association, believes the compensation could range from 24 to 60 months of salary. For example, with a monthly salary of 15,000 riyals, the minimum compensation would be SAR360,000, and the maximum could reach SAR900,000.

Priority for the program will be given to employees with lower qualifications, and it will be available only after other options, such as transfers and skill development, have been explored. Employees close to retirement are excluded.

The government has also allowed agencies to announce vacant positions internally for five days before following regular procedures, to fill positions through transfers between government departments.

The program is expected to provide financial liquidity, encourage private-sector innovation, improve government efficiency, and reduce the financial burden on the state budget. The Ministry of Human Resources and Social Development is coordinating with relevant authorities to set the program’s guidelines.

Ultimately, the “Golden Handshake” is a significant initiative aimed at improving the efficiency of the public sector, with attractive financial compensation expected for those who participate.