Joint Economic Cooperation Committee Formed between Saudi Arabia, Kurdistan

Part of the meeting between the Saudi business delegation and the members of the Federation of Chambers of Commerce and Industry in the Kurdistan Region. (Asharq Al-Awsat)
Part of the meeting between the Saudi business delegation and the members of the Federation of Chambers of Commerce and Industry in the Kurdistan Region. (Asharq Al-Awsat)
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Joint Economic Cooperation Committee Formed between Saudi Arabia, Kurdistan

Part of the meeting between the Saudi business delegation and the members of the Federation of Chambers of Commerce and Industry in the Kurdistan Region. (Asharq Al-Awsat)
Part of the meeting between the Saudi business delegation and the members of the Federation of Chambers of Commerce and Industry in the Kurdistan Region. (Asharq Al-Awsat)

A Saudi economic delegation ended its consultations and meetings in Erbil on Tuesday by reaching an agreement with the chairman and members of the Federation of Chambers of Commerce and Industry in the Iraqi Kurdistan Region to form a joint body for economic cooperation.

Sami bin Abdullah al-Obeidi, chairman of the Federation of Saudi Chambers of Commerce, said the meetings focused primarily on ways to expand economic and investment cooperation between the two sides.

“The investment law in Kurdistan provides good opportunities for Saudi businessmen to invest in the region and we are all trying to enable the private sector to play an active role in this field and to form task forces to activate investments in the near future,” he stated.

For his part, Dara Al-Khayat, president of the Federation of Chambers of Commerce and Industry in the Kurdistan Region, stressed that meetings with the Saudi economic delegation represented the first step on the way to enhance economic and trade cooperation between the two sides.

“We have seen a firm desire by the members of the Saudi delegation to implement investment projects in Kurdistan and we hope that this desire would be translated into practical developments in the near future,” Khayyat told Asharq Al-Awsat, noting that the first projects would focus on the fields of agriculture industry and trade.

The Saudi delegation, headed by Saudi Ambassador to Baghdad Abdulaziz Al-Shamri and that included 35 senior Saudi businessmen and investors in various fields, had arrived in Erbil on Monday.



CEO of Cisco Saudi Arabia: Our Investments in the Kingdom Continue to Support Digital Transformation

The logo of US networks giant Cisco Systems is seen in front of their headquarters in Issy-les-Moulineaux, near Paris, France August 6, 2022. (Reuters)
The logo of US networks giant Cisco Systems is seen in front of their headquarters in Issy-les-Moulineaux, near Paris, France August 6, 2022. (Reuters)
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CEO of Cisco Saudi Arabia: Our Investments in the Kingdom Continue to Support Digital Transformation

The logo of US networks giant Cisco Systems is seen in front of their headquarters in Issy-les-Moulineaux, near Paris, France August 6, 2022. (Reuters)
The logo of US networks giant Cisco Systems is seen in front of their headquarters in Issy-les-Moulineaux, near Paris, France August 6, 2022. (Reuters)

Saudi Arabia has demonstrated a strong commitment to IT infrastructure amid significant advancements in the Kingdom’s tech sector on global indices. This has positively impacted Cisco, a global leader in security and networking solutions, which has reported consistent performance in line with the opportunities available in the country and reaffirmed its decision to continue investing in Saudi Arabia to support its digital transformation initiatives.

In an interview with Asharq Al-Awsat, Salman Faqeeh, CEO of Cisco Saudi Arabia, said the Kingdom showcased the strength and efficiency of its infrastructure during the COVID-19 pandemic, positively influencing Cisco’s operations over the past few years.

Cisco, a technology company listed on the US stock market and headquartered in Silicon Valley, California, specializes in developing, manufacturing, and selling networking devices, software, and communication equipment.

Faqeeh stated that Cisco is committed to playing a key role in supporting Saudi Arabia’s digital transformation through strategic investments. In 2023, the company opened a regional office in Riyadh to strengthen its operations across the Middle East and North Africa and deepen its presence in the Kingdom. Senior executives also held high-level meetings with government and private sector leaders to solidify partnerships in the local market.

Faqeeh stressed that the company has consistently invested in programs to accelerate digital transformation, supporting the Kingdom’s efforts in key sectors and fostering an innovation ecosystem. He added that since the launch of Saudi Arabia’s Digital Transformation Program in 2016, part of Vision 2030 aimed at enhancing digital skills and promoting innovation, Cisco has implemented more than 20 projects in critical areas such as healthcare, education, and smart cities.

Faqeeh praised the Kingdom’s achievements in digital transformation, citing its significant progress on global indices. Saudi Arabia ranked second among G20 countries in the 2024 ICT Development Index and led in cybersecurity readiness.

Boosting cybersecurity is a top priority for Saudi Arabia, particularly given the rising number of cyberattacks globally, he added. In this context, he pointed to Cisco’s efforts to provide solutions that protect data and digital infrastructure, citing a 2023 Cisco study, which revealed that 99% of surveyed organizations in the Kingdom increased their cybersecurity budgets, although 67% reported experiencing security incidents in the past year.

He also addressed challenges in artificial intelligence (AI), highlighting a recent Cisco study that found 93% of Saudi companies have AI strategies, but only 7% are fully prepared with the necessary infrastructure to implement these technologies.

Moreover, Faqeeh underscored the impact of Cisco’s Networking Academy program in Saudi Arabia, which has trained over 336,000 individuals, including more than 35% female participants—one of the highest percentages globally.

Regarding academic collaborations, he emphasized Cisco’s ongoing partnership with the King Abdullah University of Science and Technology (KAUST), aimed at improving the educational environment and empowering academic staff and students with cutting-edge solutions.

Cisco is also committed to environmental sustainability, aiming for net-zero greenhouse gas emissions by 2040. Faqeeh noted the company’s focus on delivering energy-efficient technology solutions and contributing to the Kingdom’s goals for carbon neutrality.

The company will participate as a strategic sponsor in the Black Hat cybersecurity conference, set to take place in Riyadh from November 26–28. According to Faqeeh, the company aims to use this platform to strengthen collaboration with clients and partners in the Kingdom, offering innovative security solutions that protect data and facilitate the safe adoption of AI technologies.