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Saudi Arabia to Adopt Independent Policy in Digital Economy

Saudi Arabia to Adopt Independent Policy in Digital Economy

Thursday, 27 February, 2020 - 15:00
Part of the conclusion of MEFTECH Conference on Wednesday, February 26, 2020, in Riyadh (Asharq Al-Awsat)
Riyadh- Mohammed al-Hamidi

Saudi Arabia is planning to adopt key laws and principles on technical and digital developments related to the economy.

On Wednesday, the Kingdom announced preparing a legislative draft for developments in the digital economy.

This plan indicates the government’s serious transition to progressive levels from the traditional economy to the challenges of the modern economy.

The National Digital Transformation Unit called Wednesday on all concerned parties and individuals, including the private sector and non-profit organizations to provide visuals on the draft of the digital economy policy.

It also demanded all relevant data, analysis and comparative studies that support their visuals to be submitted no later than March 22.

The proposed draft aims at developing the Kingdom’s digital economy, informing the public and private sectors and the international community of its trends in all what is related to the digital economy and ensuring that the government agencies’ directions in this regard are integrated to achieve diversified and sustainable economic growth and create competitive advantages.

The Digital Transformation Unit was emanated from the National Digital Transformation Committee (NDCT), which was established by the royal decree in July 2017.

It specializes in developing digital transformation policies with the increasing significance of the economy resulting from the rapid development in modern technologies.

This has had a prominent impact on all aspects of life for individuals and societies as traditional economic processes and activities have transformed into digital economic processes.

The draft’s main principles focus on infrastructure, technology, innovation, human resources, social prosperity, digital trust, and market openness.

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