stc Group has signed a raft of new agreements with local partners at the Public Investment Fund’s (PIF’s) Private Sector Forum in Riyadh, with the aim of enriching the local economy.
Prince Mohammad Bin Khalid Al Abdullah Al-Faisal, the chairman of the Board of Directors of stc Group attended the signings.
stc Group was represented at the Forum by its Rawafed program which also participated in a workshop dedicated to improving localization of procurement and supply chains.
The annual event brings together policymakers, key local private-sector players, visionaries, and industry leaders to discuss and catalyze and accelerate economic growth opportunities within the Kingdom’s private sector.
Commenting on the stc’s participation, CEO Olayan Al-Wetaid said: “We welcome the opportunity to participate once again at the PIF Private Sector Forum – a brilliant space to reaffirm our commitment to driving forward the Kingdom's economic agenda. At stc Group, we are dedicated to providing world-class connectivity, driving digital transformation, and empowering sustainable growth.”
He added that the signed agreements reflect stc Group’s commitment to cooperating with various local partners, and empowering innovation, and contributing to enhancing local content in line with Vision 2030's objectives.
The agreements signed covered a range of strategic stc Group objectives, from sustainability to digital transformation. They included a contract with Al Jazea Contracting & Trading Company for the establishment of a grey water treatment plant. The agreement aims to reduce water consumption and achieve broader sustainability goals.
Another agreement was signed with Master Works to enhance the customer experience by expanding stc’s capabilities to monitor new key performance indicators.
An agreement signed with Gazal, PIF’s portfolio company, to provide eco-friendly mobility movement at stc Group’s headquarters. An agreement was also signed with Simah to develop a system for integration and validation of partner data, enhancing the onboarding process, in an initiative called “Partner Hub Enhancement.”
During the forum, a contract was signed with Middle Sea for Telecommunication Establishment, Prime Gate Company, and Awnas Contracting Company to modernize infrastructure and advance sustainability efforts, specifically focusing on offloading of stc OSP (outside plant) infrastructure.
Capping stc Group’s involvement, Rawafed participated in the "Maximizing Local Content in Procurement" workshop and exhibition. The event provided the opportunity for direct registration to local partners, allowing them to showcase technological investment opportunities and provide examples of how stc Group is one of the Kingdom’s best-practice leaders in localization.
The workshop also provided an opportunity to exchange expertise and insights on how local procurement and localization of supply chains can be bolstered.
The PIF Private Sector Forum attracts elite policymakers and prestigious local private-sector institutions, along with prominent figures and specialists in the sector. It serves as a platform for dialogues to review ways of supporting local content and enhancing opportunities for private sector growth in the Kingdom.