Saudi Arabia Strengthens Partnerships in Innovation, Technology with G20

Saudi Arabia seeks to activate global partnerships in digital and space economies (Asharq Al-Awsat)
Saudi Arabia seeks to activate global partnerships in digital and space economies (Asharq Al-Awsat)
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Saudi Arabia Strengthens Partnerships in Innovation, Technology with G20

Saudi Arabia seeks to activate global partnerships in digital and space economies (Asharq Al-Awsat)
Saudi Arabia seeks to activate global partnerships in digital and space economies (Asharq Al-Awsat)

Saudi Arabia is seeking to advance its partnership in the field of innovation and technical and digital transformation with a number of G20 countries.

Following discussions on cooperation opportunities with Britain and France, the Saudi Minister of Communications and Information Technology, Eng. Abdullah Al-Swaha, held in the Italian city of Trieste on Thursday, a series of meetings with the ministers of Italy, Japan, Germany Singapore and South Africa, to enhance partnership in the fields of technology, innovation and space.

Saudi Arabia has strengthened its position as a global leader in the digital economy, innovation and future markets. In his speech during his participation in the meeting of the Ministers of Digital Economy of the G20, Al-Swaha emphasized the efforts undertaken by the Kingdom to protect the planet through the green Saudi initiatives and the green Middle East.

He pointed to NEOM - the largest global platform for innovators and creators - noting that it was a vivid example of harmonizing regulation and innovation to achieve the welfare of societies and preserve the environment.

He also said that bridging the digital gap globally was the way to achieve inclusiveness and prosperity of societies.

On the sidelines of the meeting, Al-Swaha met with the Italian Minister of Economic Development and Innovation, Giancarlo Giorgetti, with whom he discussed strengthening cooperation in communications, information technology and space.

He also met with Peter Altmaier, the German Federal Minister for Economic Affairs and Energy, and reviewed efforts made by the Kingdom to accelerate the process of digital transformation, stimulate entrepreneurship, and support the research, development and innovation system.

In the same context, Al-Swaha held extensive discussions with the Japanese Minister of Internal Affairs and Communications, Takeda Ryota, and his counterparts from Singapore and South Africa.



Saudi Arabia Unveils $2.6 Bln in Real Estate Supply Chain Investment Opportunities

A panel discussion on the sidelines of the Real Estate Supply Chain Forum in Riyadh (Asharq Al-Awsat)
A panel discussion on the sidelines of the Real Estate Supply Chain Forum in Riyadh (Asharq Al-Awsat)
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Saudi Arabia Unveils $2.6 Bln in Real Estate Supply Chain Investment Opportunities

A panel discussion on the sidelines of the Real Estate Supply Chain Forum in Riyadh (Asharq Al-Awsat)
A panel discussion on the sidelines of the Real Estate Supply Chain Forum in Riyadh (Asharq Al-Awsat)

The Saudi government is expanding its targets for “Supply Pro,” a digital platform that connects contractors and building materials manufacturers under the National Housing Company.

The plan includes a 30% increase in the number of registered local and international suppliers, a 7% localization of building materials used in housing units, and the creation of new investment opportunities valued at over 10 billion riyals ($2.6 billion) in manufacturing, supply, and logistics services.

These initiatives are expected to generate more than 5,000 jobs.

This was revealed by Mohammad Al-Bati, CEO of the National Housing Company, during his speech at the “Real Estate Supply Chain Forum” in Riyadh on Tuesday, which was sponsored by Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail.

The event, attended by a group of consultants, contractors, and manufacturers, aimed to explore collaboration opportunities, learn about the latest technologies in the building materials industry, and facilitate knowledge exchange between local and international companies to strengthen supply chain networks.

Al-Bati also disclosed several agreements recently signed by the National Housing Company to support the real estate supply chain, with a total value exceeding 21 billion riyals ($5.6 billion).

These agreements have notably boosted local content, increasing from 54% to 63% by the end of 2024, while generating thousands of direct and indirect job opportunities in this vital sector.