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Saudi Vision Drives Digital Transformation, Boosts Knowledge Economy Progress

Digital City in Riyadh, Saudi Arabia (Asharq Al-Awsat)
Digital City in Riyadh, Saudi Arabia (Asharq Al-Awsat)
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Saudi Vision Drives Digital Transformation, Boosts Knowledge Economy Progress

Digital City in Riyadh, Saudi Arabia (Asharq Al-Awsat)
Digital City in Riyadh, Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia has cemented its position as one of the world’s leading emerging digital economies, driven by an ambitious strategic vision under its “Vision 2030” plan, which places digital transformation at the heart of sweeping economic and social reforms.

The Kingdom’s push has been underpinned by major investments in telecommunications and information technology infrastructure, helping to build the region’s largest and fastest-growing tech market.

The Saudi digital economy is now valued at 495 billion riyals ($132 billion), accounting for 15% of the Kingdom’s GDP, according to the 2024 Vision 2030 progress report, which highlighted significant growth in the country’s digital business environment, supported by modern regulations and legislation that boosted government efficiency and strengthened the appeal of the local market.

The launch of the Absher platform marked the first major milestone in Saudi Arabia’s digital shift, serving as a springboard for broader e-government services. It was followed by advanced platforms such as Tawakkalna and Nafath, which revolutionized the relationship between the state and its citizens through automated, high-efficiency services.

To drive its digital ambitions, the Kingdom established the Digital Government Authority and the Saudi Data and Artificial Intelligence Authority (SDAIA) to coordinate digitalization efforts and harness big data.

These moves accelerated the digital transformation and bolstered Saudi Arabia’s standing in global rankings.

The Kingdom climbed to sixth place globally in the United Nations E-Government Development Index for 2024, surpassing its timeline target and moving closer to its goal of ranking fifth by 2030. It also ranked first regionally, second among G20 countries, and fourth worldwide in the Digital Services Index.

Saudi Arabia continued to strengthen its global digital leadership in 2024, topping several international benchmarks, including first place worldwide in open government data and digital government skills, and seventh in the e-participation index, reflecting the maturity and integration of its digital ecosystem.

The Kingdom’s telecommunications and technology market is expanding rapidly, reaching 180 billion riyals ($48 billion) in 2024. Female participation in the tech sector surged from 7% in 2017 to 35% in 2024, while more than 381,000 specialized tech jobs have been created.

Saudi Arabia maintained its position as the world’s second-highest ranked country in the ICT Development Index for the second consecutive year. Internet penetration reached 99%, and over 3.9 million homes are now connected to fiber-optic networks.

In cybersecurity, the Kingdom secured first place globally in the 2024 Global Competitiveness Report’s cybersecurity index. Key initiatives included the launch of the national “Haseen” portal and the establishment of the National Cybersecurity Academy to secure the digital environment and bolster trust in electronic services.

Saudi Arabia’s cybersecurity market is estimated at 13.3 billion riyals ($3.5 billion), with private sector spending accounting for 69% and government spending for 31%. The sector employs more than 19,600 professionals across 355 companies offering advanced cybersecurity solutions.

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Business

US Renews Russian Oil Waiver for a Month to Curb Global Energy Prices

US Treasury Secretary Scott Bessent speaks with reporters in the James Brady Press Briefing Room at the White House, Wednesday, April 15, 2026, in Washington. (AP)
US Treasury Secretary Scott Bessent speaks with reporters in the James Brady Press Briefing Room at the White House, Wednesday, April 15, 2026, in Washington. (AP)
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US Renews Russian Oil Waiver for a Month to Curb Global Energy Prices

US Treasury Secretary Scott Bessent speaks with reporters in the James Brady Press Briefing Room at the White House, Wednesday, April 15, 2026, in Washington. (AP)
US Treasury Secretary Scott Bessent speaks with reporters in the James Brady Press Briefing Room at the White House, Wednesday, April 15, 2026, in Washington. (AP)

Washington renewed on Friday a waiver allowing countries to buy sanctioned Russian oil at sea for about a month, even as lawmakers accused the government ‌of going easy on Moscow as its war on Ukraine grinds on.

The Treasury Department's waiver lets countries purchase Russian oil and petroleum products loaded on vessels as of Friday through May 16.

It replaces a 30-day waiver that expired on April 11 and excludes transactions involving Iran, Cuba and North Korea.

Reversal

The move is part of the administration's effort to control global energy prices that have shot higher during the US-Israeli war with Iran.

It came after countries in Asia, suffering from the global energy shock, pressed Washington to allow alternative supplies to reach markets.

“As negotiations (with Iran) accelerate, Treasury wants to ensure oil is available to those ⁠who need it,” a Treasury Department spokesperson said.

Last Wednesday, Treasury Secretary Scott Bessent said Washington would not be renewing the waiver for Russian oil and another for Iranian oil, which is set to expire on Sunday.

Global oil prices tumbled 9% on Friday to about $90 a barrel after Iran temporarily reopened the Strait of Hormuz, an oil choke point in the Gulf. But the war has already created the worst global energy supply disruption in history, the International Energy Agency has said.

The war, which enters its eighth week on Saturday, has damaged more than 80 oil and gas facilities in the Middle East, and Tehran has warned it could close the strait again if the recent US Navy blockade of Iranian ports continued.

High oil prices are a threat to President Donald Trump's fellow Republicans ahead of November's midterm elections.

Trump has also faced pressure from partner countries on the oil price.

A US source told Reuters partner countries on the sidelines of Group of 20, World Bank and International Monetary Fund meetings ‌in Washington ⁠this week had requested the US extend the waiver. Trump also spoke about oil this week in a call with Prime Minister Narendra Modi of India, a big purchaser of Russian oil.

The waiver on Iranian oil, which the Treasury Department issued on March 20, allowed about 140 million barrels of oil to reach global markets and helped relieve pressure on energy supply, Bessent said last month.

Lasting damage

US lawmakers from both political parties had slammed the administration over the sanctions waivers, saying they stood to help the economy of Iran while it was at war ⁠with the US and of Russia as it was at war with Ukraine.

The waivers could impede the West's efforts to deprive Russia of revenue for its war in Ukraine and put Washington at odds with its allies. European Commission President Ursula von der Leyen has said now is not the time to relax sanctions against Russia.

Russian President Vladimir Putin's special envoy Kirill Dmitriev ⁠said an extension of the US waiver will affect another 100 million barrels of Russian oil, bringing the total volume affected by both waivers to 200 million barrels.

Dmitriev, who travelled to the US on April 9 for meetings with members of the Trump administration ahead of the previous waiver expiry, said on his Telegram channel that the ⁠extension faced “active political opposition.”

Brett Erickson, a sanctions expert at the consulting firm Obsidian Risk Advisors, said Friday's renewal is likely not the last waiver Washington will issue.

“The conflict has done lasting damage to global energy markets, and the tools available to stabilize them are nearly exhausted,” Erickson said.

Business

Turkmenistan, China Launch Expansion of World’s Second-largest Gas Field

Former Turkmen president Gurbanguly Berdymukhamedov and Chinese Vice Premier Ding Xuexiang applaud during a ceremony launching the fourth of seven planned development phases at Galkynysh gas field, the world's second-largest gas field in the Karakum desert about 400 kilometres (250 miles) east of the capital Ashgabat, on April 17, 2026. (Photo by AFP)
Former Turkmen president Gurbanguly Berdymukhamedov and Chinese Vice Premier Ding Xuexiang applaud during a ceremony launching the fourth of seven planned development phases at Galkynysh gas field, the world's second-largest gas field in the Karakum desert about 400 kilometres (250 miles) east of the capital Ashgabat, on April 17, 2026. (Photo by AFP)
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Turkmenistan, China Launch Expansion of World’s Second-largest Gas Field

Former Turkmen president Gurbanguly Berdymukhamedov and Chinese Vice Premier Ding Xuexiang applaud during a ceremony launching the fourth of seven planned development phases at Galkynysh gas field, the world's second-largest gas field in the Karakum desert about 400 kilometres (250 miles) east of the capital Ashgabat, on April 17, 2026. (Photo by AFP)
Former Turkmen president Gurbanguly Berdymukhamedov and Chinese Vice Premier Ding Xuexiang applaud during a ceremony launching the fourth of seven planned development phases at Galkynysh gas field, the world's second-largest gas field in the Karakum desert about 400 kilometres (250 miles) east of the capital Ashgabat, on April 17, 2026. (Photo by AFP)

Turkmenistan and China broke ground Friday on works to expand production at the giant Galkynysh gas field, strengthening Beijing's already dominant position in the secretive Central Asian nation's energy sector.

The former Soviet republic, which holds the world's fourth-largest gas reserves, has exported nearly all its production to China since 2009, when the Central Asia-China pipeline opened.

In the middle of the desert, former president Gurbanguly Berdymukhamedov -- who effectively runs the country alongside his son, President Serdar Berdymukhamedov -- formally inaugurated the launch of the fourth of seven planned development phases at Galkynysh.

The ceremony was attended by Chinese Vice Premier Ding Xuexiang, an AFP correspondent saw.

"Turkmen gas is a symbol of happiness -- it is present in every Chinese household," Ding said.

The event featured songs and dances celebrating Turkmen-Chinese friendship, staged with the lavish pomp typical of Turkmenistan's state-sponsored events.

Gurbanguly Berdymukhamedov, officially titled "Hero-Protector" and vested with sweeping powers, presided over the gathering.

Galkynysh, in the Karakum desert about 400 kilometers (250 miles) east of the capital Ashgabat, has been producing gas since 2013 and is the world's second-largest gas field, according to the British consulting firm GaffneyCline.

Expansion works are being carried out by the state-owned China National Petroleum Corporation (CNPC).

On a visit to Ashgabat the day before the ceremony, CNPC chairman Dai Houliang said "the friendship between China and Turkmenistan is as deep as the roots of a tree."

Business

$27 Billion City to be Built East of Cairo

The project covers approximately 2.4 million square meters of land. Asharq Al-Awsat
The project covers approximately 2.4 million square meters of land. Asharq Al-Awsat
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$27 Billion City to be Built East of Cairo

The project covers approximately 2.4 million square meters of land. Asharq Al-Awsat
The project covers approximately 2.4 million square meters of land. Asharq Al-Awsat

Egypt's Talaat Moustafa Group (TMG) will build a new 1.4 trillion Egyptian pound ($27 billion) mixed-use city east of Cairo, CEO and Managing Director Hisham Talaat Moustafa said at a press conference on Saturday.

The project, called The Spine, is to be developed in partnership with ⁠the National Bank ⁠of Egypt, with a paid-up capital of 69 billion Egyptian pounds ($1.3 billion).

The project, to be built as a Special Investment ⁠Zone with TMG's Madinaty, covers approximately 2.4 million square meters of land, combining residential, commercial, hospitality, retail, entertainment, and public green space within a single continuous urban environment.

The investment is equivalent to roughly 1% of Egypt's GDP, according to Moustafa, and is ⁠projected ⁠to generate approximately 818 billion Egyptian pounds in tax revenues for the state budget over time.

The project is expected to create more than 55,000 direct jobs and hundreds of thousands of indirect positions.