Saudi Arabia Seeks to Support Future Economies, Bridge Digital Divides

Eng. Abdullah Al-Swaha, Saudi Minister of Communications and Information Technology, at the event in Bali. (Asharq Al-Awsat)
Eng. Abdullah Al-Swaha, Saudi Minister of Communications and Information Technology, at the event in Bali. (Asharq Al-Awsat)
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Saudi Arabia Seeks to Support Future Economies, Bridge Digital Divides

Eng. Abdullah Al-Swaha, Saudi Minister of Communications and Information Technology, at the event in Bali. (Asharq Al-Awsat)
Eng. Abdullah Al-Swaha, Saudi Minister of Communications and Information Technology, at the event in Bali. (Asharq Al-Awsat)

Eng. Abdullah Al-Swaha, Saudi Minister of Communications and Information Technology, said on Thursday the Kingdom has taken bold steps to support future economies and innovation.

The minister revealed efforts to bridge the digital divide and to foster green energy projects in the northwestern NEOM region.

He stressed that the Kingdom’s presidency of the G20 in 2020 led to the transformation of the digital economy team into a permanent working group, to seize the opportunities provided by the sector and increase development and economic growth rates of the G20 members.

Al-Swaha made his comments during his participation in the meeting of digital economy ministers under Indonesia’s presidency of the G20 in Bali. The event saw the participation of ICT ministers and experts in group member states.

The minister noted that Saudi Vision 2030 was keen on supporting Saudi women as an important contributor to the development of the homeland.

In this regard, he said Saudi Arabia has improved women empowerment, from 7% in 2017 to over 30% in 2022, adding that his country was seeking to train more than 600 women in the Middle East and North Africa, as part of its cooperation with Apple Developer Academy.

Al-Swaha also pointed to innovative efforts in bridging the digital gap and enhancing green energy projects in NEOM.

He praised the outcomes of Saudi Arabia’s presidency for the G20, which resulted in changing the G20 Digital Economy Task Force (DETF) into the Digital Economy Work Group (DEWG), and “played an appreciated role in seizing opportunities provided by the digital economy and increasing development rates and economic growth for G20 countries.”



US Treasury Chief Sees 100 Countries Getting 10% Reciprocal Tariff

US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, DC, US, June 27, 2025. (Reuters)
US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, DC, US, June 27, 2025. (Reuters)
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US Treasury Chief Sees 100 Countries Getting 10% Reciprocal Tariff

US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, DC, US, June 27, 2025. (Reuters)
US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, DC, US, June 27, 2025. (Reuters)

About 100 countries are likely to see a reciprocal tariff rate of 10%, US Treasury Secretary Scott Bessent said on Thursday, adding that he expects "a flurry" of trade deals announced before a July 9 deadline that could see tariff rates increase sharply.

"We'll see how the President wants to treat those who are negotiating, whether he's happy that they're negotiating in good faith," Bessent told Bloomberg Television.

"I think that we're going to see about 100 countries who just get the minimum 10% reciprocal tariff and we'll go from there. So I think we're going to see a lot of action over the coming days," Bessent said.

If 10% tariffs were given to 100 countries, that would be fewer than originally envisioned by the Trump administration.

Its original reciprocal tariff list showed 123 jurisdictions that were given a 10% tariff rate - mostly small countries, along with some territories like Australia's uninhabited Heard and McDonald Islands.

Trump in April temporarily reduced the tariff rate for most countries to 10% to allow time for negotiations.

Many countries with an initial 10% duty rate have not had any negotiations with the Trump administration, with the exception of Britain, which reached a deal in May to keep a 10% rate and won preferential treatment for some sectors including autos and aircraft engines.

Major trading partners now involved in negotiations with the US could see much higher tariff rates, including 20% for the European Union, 26% for India and 24% for Japan. Other countries that have not engaged in trade talks with the Trump administration face even higher reciprocal tariffs, including 50% for Lesotho, 47% for Madagascar and 36% for Thailand.

Trump on Wednesday announced an agreement with Vietnam that he said cuts US tariffs on many Vietnamese goods to 20% from his previously threatened 46%, with many US products claimed to be allowed to enter Vietnam duty free.