Saudi Arabia Ranks Second Among G20 in ICT Development for Second Year

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)
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Saudi Arabia Ranks Second Among G20 in ICT Development for Second Year

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia ranked second among the Group of Twenty (G20) countries for the second consecutive time in the 2024 ICT Development Index published by the United Nations International Telecommunication Union (ITU).

The index tracks the digital development and progress of 170 countries in information and communication technology (ICT) services through sub-indicators divided into two axes: inclusive and effective communication.

The Kingdom also ranked first among the G20 countries in the effective communication axis and second in the inclusive communication axis, underscoring the continuous development of the communication and technology sector in the Kingdom, and its efforts to build and strengthen it.

These efforts have helped in achieving the global ranking and boosting the Kingdom's leadership in relevant international indices.

The Communications, Space and Technology Commission (CST) said the Kingdom's continuous progress in the index highlights the strength of its digital infrastructure and its contribution to driving the growth and development of the digital economy, as well as attracting investments.

The Kingdom's communication and technology market is the largest and fastest growing in the Middle East and North Africa (MENA) region, with an estimated value of SR166 billion.

The penetration rate of mobile subscriptions has reached 198% of the population, and the average monthly data consumption per capita in the Kingdom exceeds the global average by threefold.

The ICT Development Index published by the ITU measures digital development and the strength of digital infrastructure, providing comprehensive and transparent data and methodology that were developed in partnership with member states and expert teams in the field.



Volkswagen to Make Added Investments in US, CFO Says in Davos

A Volkswagen logo is pictured during the Volkswagen Group's annual general meeting in Berlin, Germany, May 3, 2018. (Reuters)
A Volkswagen logo is pictured during the Volkswagen Group's annual general meeting in Berlin, Germany, May 3, 2018. (Reuters)
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Volkswagen to Make Added Investments in US, CFO Says in Davos

A Volkswagen logo is pictured during the Volkswagen Group's annual general meeting in Berlin, Germany, May 3, 2018. (Reuters)
A Volkswagen logo is pictured during the Volkswagen Group's annual general meeting in Berlin, Germany, May 3, 2018. (Reuters)

Volkswagen will need to make additional investments in the United States to hit its target of doubling market share there, its CFO Arno Antlitz said on the sidelines of the World Economic Forum annual meeting in Davos on Thursday.

"We need additional initiatives ... to double market share, you have to be even more local," Antlitz said when asked whether Volkswagen plans to expand its plant in Chattanooga, Tennessee.

"We are strong in Europe, but we need to do more 'value-added' in the US," added Antlitz, listing research and development as a potential area for investment.

"But we have to decide on the project first," he told the Reuters Global Markets Forum, declining to give further details.

Volkswagen has previously said it aimed to hit 10% market share in the US, a goal investors and analysts are sceptical the carmaker can achieve in a crowded market. It currently has around 4% market share, according to Reuters calculations.

The CFO declined to comment on how the carmaker would react if US President Donald Trump follows through on threats to impose tariffs on imports from Europe, Mexico and Canada, saying it was "too early".

Volkswagen's global production chain puts the carmaker directly in the line of fire for Trump's tariffs. Its Audi and Porsche brands have no US manufacturing base, its VW passenger car brand's US sales consist mainly of imports from its Mexican plant, and its battery cell plant under construction in Canada was set to deliver batteries to the United States.

The German carmaker plans to bring in range extenders, small combustion engines which charge an EV battery to extend its range, into more of its models, Antlitz said, in an attempt to appeal to customers who are hesitant to make the switch to EVs.