عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Arabia, Oman Sign MoU to Develop Digital Economy

Saudi Arabia and Oman signed an agreement for cooperation in the digital economy on Wednesday in Riyadh (Asharq Al-Awsat).
Saudi Arabia and Oman signed an agreement for cooperation in the digital economy on Wednesday in Riyadh (Asharq Al-Awsat).
TT
TT

Saudi Arabia, Oman Sign MoU to Develop Digital Economy

Saudi Arabia and Oman signed an agreement for cooperation in the digital economy on Wednesday in Riyadh (Asharq Al-Awsat).
Saudi Arabia and Oman signed an agreement for cooperation in the digital economy on Wednesday in Riyadh (Asharq Al-Awsat).

Saudi Arabia and Oman signed on Wednesday an Agreement of Understanding in the field of digital economy and a cooperation agreement to launch a joint initiative for digital skills.

This came during a meeting in Riyadh between the Minister of Communications and Information Technology, Eng. Abdullah bin Amer Alswaha, and an Omani delegation, headed by Minister of Transport, Communications and Information Technology, Eng. Saeed bin Hamoud Al-Maawali, and the Sultanate of Oman’s ambassador to the Kingdom, Faisal bin Turki Al Said.

The meeting discussed enhancing aspects of cooperation between the two sides in the digital economy, e-government, cyber-security, mail and innovation.

The MoU will enhance communication between the two sides on the exchange of information in the field of communications and information technology, as well as strengthening cooperation in a number of areas, including government digital transformation, the development of communications infrastructure, capacity building and training, and joint investment in the postal sector.

On the sidelines of the meeting, the Saudi Minister of Communications and Information Technology and his Omani counterpart launched the Saudi-Omani Digital Skills Initiative, which aims to exchange best practices and experiences, and implement joint programs and initiatives, in addition to developing digital skills to meet the requirements of the labor market in the sector communications and information technology to keep pace with the accelerating digital revolution, and contribute to increasing job opportunities.

The initiative, which aims to qualify 1,000 trainees by 20252, includes several training programs on data and artificial intelligence, software design and development, cyber security, financial technologies, technical project management, digital marketing, and user experience.

The Omani side will cooperate in raising digital awareness through the dissemination of educational digital content and the provision of technical training courses online through the Digital Giving Webinar, targeting by 2025 to reach 25,000 beneficiaries.

Most Viewed

 
 
Business

Local Content in Saudi Government Projects Rises to 47% by Q3

Al-Falih said that local content policies are integral to the state’s strategy. (SPA)
Al-Falih said that local content policies are integral to the state’s strategy. (SPA)
TT
TT

Local Content in Saudi Government Projects Rises to 47% by Q3

Al-Falih said that local content policies are integral to the state’s strategy. (SPA)
Al-Falih said that local content policies are integral to the state’s strategy. (SPA)

The proportion of local content in Saudi government projects has grown significantly, rising from 33% in 2020 to approximately 47% by the end of the third quarter of this year. This progress was announced by Minister of Industry and Mineral Resources Bandar Al-Khorayef during a ministerial session titled, Future Trends in Light of Vision 2030, at the second edition of the Local Content Forum 2024.

Tourism Minister Ahmed Al-Khateeb emphasized that tourism is a cornerstone of Vision 2030, stating: “We aim to localize investment spending with the support of national institutions.”

He also outlined plans to increase the tourism sector’s contribution to the national economy from 3% in 2019 to 10%.

Al-Khateeb underscored the collaborative efforts underway with the private sector to develop the tourism industry.

For his part, Investment Minister Khalid Al-Falih highlighted that local content policies have been integral to the state’s strategy since its founding. He stressed that enhancing the competitiveness of local companies plays a vital role in advancing localization efforts.

Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail stated that increasing local content is part of a long-term plan, noting that 70% of home construction technologies are now manufactured locally.

In turn, Economy and Planning Minister Faisal Al-Ibrahim explained that boosting local content helps drive economic growth. He emphasized that import substitution presents a valuable opportunity to support domestic products and balance trade.