Saudi Arabia Bolsters Digital Infrastructure with New Communications, IT Law

Saudi Arabia’s Communications and Information Technology Commission has participated in the inauguration ceremony of the World Summit on the Information Society Forum 2022 (Asharq Al-Awsat)
Saudi Arabia’s Communications and Information Technology Commission has participated in the inauguration ceremony of the World Summit on the Information Society Forum 2022 (Asharq Al-Awsat)
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Saudi Arabia Bolsters Digital Infrastructure with New Communications, IT Law

Saudi Arabia’s Communications and Information Technology Commission has participated in the inauguration ceremony of the World Summit on the Information Society Forum 2022 (Asharq Al-Awsat)
Saudi Arabia’s Communications and Information Technology Commission has participated in the inauguration ceremony of the World Summit on the Information Society Forum 2022 (Asharq Al-Awsat)

Keeping pace with Saudi Arabia’s new direction towards innovation and the digital economy, the Saudi Cabinet, chaired by King Salman bin Abdulaziz Al Saud, approved on Tuesday, the Communications and Information Technology (IT) law.

The new law is meant to reinforce the Kingdom’s digital infrastructure.

Communications and Information Technology Minister Abdullah Alswaha said that the ICT law is an important step in consolidating Saudi Arabia's position as a center for technology, innovation and leadership, and a key driver for accelerating the growth of the digital economy, empowering entrepreneurs and enhancing the Kingdom's competitiveness.

Besides the telecommunications sector, the law focuses on the information technology sector.

Now, it includes broadly and more accurately the main and subsidiary telecommunications and information technology sectors, which include digital infrastructure, emerging technologies, e-governance, and enabling applications and services in various sectors.

Moreover, the Cabinet ratified an indicative model of a memorandum of understanding (MoU) between Saudi Data and Artificial Intelligence Authority (SDAIA) and peer entities in the other countries to launch the electronic link to verify the passengers’ compliance with COVID-19 health precautions.

SDAIA chairman will be delegated to hold talks with counterparts in other countries regarding a draft MoU, sign it and refer the final signed copy to proceed with formal procedures.

In other news, Saudi Arabia’s Governor of the Communications and Information Technology Commission Mohammed Al-Tamimi has participated in the inauguration ceremony of the World Summit on the Information Society Forum 2022, which is held in Geneva under the theme “ICTs for Well-Being, Inclusion and Resilience.”

The Kingdom’s participation aims at enhancing its international status in the ICT sector, in addition to highlighting its efforts and achievements in issues to be discussed in the forum, where the Kingdom of Saudi Arabia is considered a strategic partner to realize the goals of the summit and relevant Sustainable Development Goals and a main player in enhancing the culture of excellence and creativity in all fields related to ICT in the world.

Al-Tamimi, during a speech he delivered at the forum, highlighted the importance of sustainability for the ICT sector and the increasing need for it considering the accelerating challenges the world is witnessing.



US Treasury's Bessent Urges IMF, World Bank to Refocus on Core Missions

 Treasury Secretary Scott Bessent speaks, Wednesday, April 23, 2025, to the Institute of International Finance Global Outlook Forum at the Willard Hotel in Washington. (AP)
Treasury Secretary Scott Bessent speaks, Wednesday, April 23, 2025, to the Institute of International Finance Global Outlook Forum at the Willard Hotel in Washington. (AP)
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US Treasury's Bessent Urges IMF, World Bank to Refocus on Core Missions

 Treasury Secretary Scott Bessent speaks, Wednesday, April 23, 2025, to the Institute of International Finance Global Outlook Forum at the Willard Hotel in Washington. (AP)
Treasury Secretary Scott Bessent speaks, Wednesday, April 23, 2025, to the Institute of International Finance Global Outlook Forum at the Willard Hotel in Washington. (AP)

US Treasury Secretary Scott Bessent on Wednesday called on the International Monetary Fund and World Bank to refocus on their core missions of macroeconomic stability and development, arguing that they have strayed too far into vanity projects such as climate change that have reduced their effectiveness.

Bessent, in remarks outlining his vision for US engagement with the IMF and World Bank on the sidelines of the institutions' spring meetings, said that they serve critical roles in the international financial system.

"And the Trump administration is eager to work with them - so long as they can stay true to their missions," Bessent said in prepared remarks to the Institute of International Finance.

"The IMF and World Bank have enduring value. But mission creep has knocked these institutions off course. We must enact key reforms to ensure the Bretton Woods institutions are serving their stakeholders - not the other way around," he said, calling on US allies to join the effort. "America First does not mean America alone."

Bessent said the IMF needed to focus on its key mandate and adhere to strong standards in its lending.

"The IMF was once unwavering in its mission of promoting global monetary cooperation and financial stability. Now it devotes disproportionate time and resources to work on climate change, gender, and social issues. These issues are not the IMF's mission."

"And sometimes, the IMF needs to say 'No.' The organization has no obligation to lend to countries that fail to implement reforms."

Bessent added that the World Bank must be "tech-neutral and prioritize affordability in energy investment. In most cases, this means investing in gas and other fossil fuel-based energy production."

He added that it could also finance renewable energy projects along with systems to manage energy latency in wind and solar.