Saudi Arabia to Double Radio Spectrum 10-Fold by 2025

Saudi Arabia's hosting of the webinar reflects its global position in the communications and information technology sector. (Saleh al-Ghannam)
Saudi Arabia's hosting of the webinar reflects its global position in the communications and information technology sector. (Saleh al-Ghannam)
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Saudi Arabia to Double Radio Spectrum 10-Fold by 2025

Saudi Arabia's hosting of the webinar reflects its global position in the communications and information technology sector. (Saleh al-Ghannam)
Saudi Arabia's hosting of the webinar reflects its global position in the communications and information technology sector. (Saleh al-Ghannam)

Saudi Arabia said Tuesday it will double the radio spectrum by more than 10 times in the next five years, noting that it is currently working on preparing a future roadmap for these uses.

The Communications and Information Technology Commission (CITC) will provide more than 10 gigahertz (GHz) to improve the commercial and innovative use of the Kingdom’s radio spectrum by 2025, according CITC Governor Mohammed al-Tamimi.

“The Saudi telecom regulator is working on setting up a new outlook for commercial and innovative use of radio spectrum,” Tamimi added on the sidelines of the three-day webinar on “Radio Spectrum for International Mobile Telecommunications (IMT)-2020 and beyond: Fostering Commercial and Innovative Use.”

The event, which kicked off on Tuesday, was organized by the CITC in cooperation with the International Telecommunication Union (ITU).

Minister of Communications and Information Technology Abdullah al-Swaha stressed the need for a global standard in spectrum management.

“It is so critical for us to come together as the world’s greatest thinkers and doers in the spectrum field,” he said.

“Digital infrastructure was the backbone for our resilient economies to succeed in a post-COVID world and spectrum is the lifeline,” noted Swah, who is also CITC CEO.

The webinar brought together more than 70 participants representing more than 20 world countries. Speeches were given by senior government officials, companies and international organizations in the field of information technology, including Mario Maniewicz, director of the ITU Radiocommunications Bureau, and Chairman of the Federal Communications Commission Ajit Pai.

ITU Secretary General Houlin Zhao hailed in his opening speech the role played by the CITC in organizing the event, noting that the ITU recognizes the CITC as one of the most developed regulators in the world and Saudi Arabia as one of the Middle East’s largest ICT markets.

CITC Deputy Governor of Radio Spectrum Mohammed Alotaibi told Asharq Al-Awsat on the sidelines of the event that the Kingdom taken steps in recent years to improve radio spectrum management and enable its commercial and innovative use.

These steps aim at benefiting companies providing these services, so that they can improve the speeds and services, especially mobile networks.

He stressed that the radio spectrum is used by various networks and has various uses in several sectors.

The webinar hosted by the Kingdom reflects the significance of its status in the communications and information technology sector.



Trump Taps Scott Bessent for Treasury

(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
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Trump Taps Scott Bessent for Treasury

(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)

President-elect Donald Trump on Friday said he will nominate prominent investor Scott Bessent as US Treasury secretary, a key cabinet position with vast influence over economic, regulatory and international affairs.

"I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States," Trump said in a statement released on Truth Social. "Scott is widely respected as one of the world's foremost international investors and geopolitical and economic strategists."

Wall Street has been closely watching who Trump will pick, especially given his plans to remake global trade through tariffs and extend and potentially expand the raft of tax cuts enacted during his first term, Reuters reported
The choice came after days of deliberations by Trump as he sorted through a shifting list of candidates. Bessent spent day after day at Trump's Mar-a-Lago home in Florida providing economic advice, sources said, a proximity to the president-elect that may have helped him prevail.
Other names that had been floated included Apollo Global Management Chief Executive Marc Rowan and former Federal Reserve Governor Kevin Warsh. Investor John Paulson had also been a leading candidate, but dropped out, while Wall Street veteran Howard Lutnick, another contender, was appointed as head of the Commerce Department.
Bessent, who did not immediately respond to a request for comment, has advocated for tax reform and deregulation, particularly to spur more bank lending and energy production, as noted in a recent opinion piece he wrote for The Wall Street Journal.
The market's surge after Trump's election victory, he wrote, signaled investor expectations of "higher growth, lower volatility and inflation, and a revitalized economy for all Americans."
"Bessent has been on the side of less aggressive tariffs," said Oxford Economics' Ryan Sweet, adding that picking him makes the steep tariffs Trump proposed on the campaign trail less likely.
Bessent follows other financial luminaries who have taken the job, including former Goldman Sachs executives Robert Rubin, Hank Paulson and Steven Mnuchin, Trump's first Treasury chief. Janet Yellen, the current secretary and first woman in the job, previously chaired the Federal Reserve and White House Council of Economic Advisers.
Republican US Senator Lindsey Graham from South Carolina, Bessent's home state, said in a statement: "President Trump's economic agenda is in good hands with Scott Bessent. I look forward to working closely with Scott and President Trump to lower inflation and create the golden age of prosperity for the American people."