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Report Highlights Saudi Incentives for New Technologies, 4th Industrial Revolution Solutions

Photo taken during the LEAP technological conference, which focused on the 4th Industrial Revolution among other files. (Photo: Bashir Saleh)
Photo taken during the LEAP technological conference, which focused on the 4th Industrial Revolution among other files. (Photo: Bashir Saleh)
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Report Highlights Saudi Incentives for New Technologies, 4th Industrial Revolution Solutions

Photo taken during the LEAP technological conference, which focused on the 4th Industrial Revolution among other files. (Photo: Bashir Saleh)
Photo taken during the LEAP technological conference, which focused on the 4th Industrial Revolution among other files. (Photo: Bashir Saleh)

A recent report revealed five advantages and incentives to enable Saudi Arabia to implement the technologies and solutions of the Fourth Industrial Revolution, including the presence of digital infrastructure equipped with 5G technology, and the Kingdom’s financial and investment capabilities.

The Kingdom inaugurated last year a dedicated center on the sidelines of the first Saudi Forum for the 4th Industrial Revolution, which was held in Riyadh, in a step that reflects the country’s determination to empower this sector.

According to a report issued by the Ministry of Industry and Mineral Resources, Saudi Arabia’s advanced digital government is one of the country’s most important features that enables it to implement the techniques of the 4th Industrial Revolution, in addition to the presence of more than 40 specialized and integrated industrial cities and a motivated young population.

The report noted that the 4th Industrial Revolution contributed to supporting the localization of new and advanced industries within the Kingdom, expanding supply chains and enhancing their flexibility and reliability, in addition to increasing the competitive advantage of existing industries.

Saudi Arabia attaches great importance to this revolution through the development of the national industry and logistics services within Saudi Vision 2030, which aims to transform the Kingdom into a leading industrial power and a global logistics platform. This goal is attained by maximizing the value achieved from the mining and energy sectors and focusing on local content and the 4th Industrial Revolution to contribute significantly in enhancing and diversifying the economic impact of the targeted sectors, sustaining their growth, achieving leadership and creating an attractive investment environment.

The activities of the LEAP Conference, which was hosted in Riyadh on Tuesday, focused on future technologies, digital transformation and economic diversification in the era of the 4th Industrial Revolution, in addition to the future of smart and digital sustainable cities.

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Saudi Vision Drives Localization, Reduces Unemployment to 7%

A glimpse of a recent job fair held in Saudi Arabia (Asharq Al-Awsat)
A glimpse of a recent job fair held in Saudi Arabia (Asharq Al-Awsat)
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Saudi Vision Drives Localization, Reduces Unemployment to 7%

A glimpse of a recent job fair held in Saudi Arabia (Asharq Al-Awsat)
A glimpse of a recent job fair held in Saudi Arabia (Asharq Al-Awsat)

Since the launch of Saudi Arabia's Vision 2030 in 2016, the Kingdom has focused on a clear goal: building a diversified and sustainable economy, reducing its dependence on oil, and investing in the potential of its citizens.

Nearly nine years of continuous effort later, the results today reflect a new reality, showcasing the success of Vision 2030 in transforming ambitions into tangible achievements, particularly in the labor market and the empowerment of national talent.

Saudi Arabia's unemployment rate for nationals has dropped to its lowest level, registering 7% in 2024, achieving the Vision 2030 target ahead of schedule. This marks a significant achievement, considering that tackling unemployment was one of the strategic document's top priorities.

The sharp decline is largely attributed to a substantial rise in Saudi women's participation in the labor market, which reached 36%, driven by a series of social and economic reforms. These initiatives have reshaped the role of women in development, opening vast opportunities in education, the workforce, and leadership positions.

Vision 2030 initially aimed to raise women's labor force participation to 30% by 2030. With this target already surpassed a decade early, the goal has now been revised to 40% by 2030, reflecting the effectiveness of national policies in enhancing workforce localization and leveraging Saudi talent.

Historically, Saudi Arabia's labor market has been heavily reliant on the public sector. However, Vision 2030 has driven a shift toward the private sector, with the number of Saudi nationals employed there rising from 1.7 million in 2020 to over 2.4 million in 2024.

In 2024 alone, 437,000 citizens were hired in the private sector, supported by more than 7.5 billion riyals ($1.9 billion) from the Human Resources Development Fund for training, qualification, and career guidance programs. This reflects the government's commitment to preparing a generation capable of adapting to the demands of the evolving job market.

These figures are not only significant in statistical terms, but also serve as a clear indicator of the fundamental transformation driven by Vision 2030 in the national economy. The vision has made empowerment, diversity, and sustainability key pillars in Saudi Arabia's path toward the future.