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SDAIA Showcases Efforts in Utilizing AI to Support Entrepreneurs at Saudi-Korean Business Forum

The Saudi-Korean Business Forum is organized by the National Competitiveness Center, the Federation of Saudi Chambers, and the Korea Chamber of Commerce and Industry. (SPA)
The Saudi-Korean Business Forum is organized by the National Competitiveness Center, the Federation of Saudi Chambers, and the Korea Chamber of Commerce and Industry. (SPA)
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SDAIA Showcases Efforts in Utilizing AI to Support Entrepreneurs at Saudi-Korean Business Forum

The Saudi-Korean Business Forum is organized by the National Competitiveness Center, the Federation of Saudi Chambers, and the Korea Chamber of Commerce and Industry. (SPA)
The Saudi-Korean Business Forum is organized by the National Competitiveness Center, the Federation of Saudi Chambers, and the Korea Chamber of Commerce and Industry. (SPA)

The Saudi Data and AI Authority (SDAIA) participated in a working session centered around innovation and technology during the Saudi-Korean Business Forum in Seoul, South Korea.

Saudi Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi and a delegation of government and private sector officials are on an official visit to the Korean capital. The visit aims to bolster commercial relations in key economic sectors between both nations, strengthening their economic partnership.

The Saudi-Korean Business Forum is organized by the National Competitiveness Center, the Federation of Saudi Chambers, and the Korea Chamber of Commerce and Industry.

At the forum’s Saudi Arabia pavilion, SDAIA showcased the Rowad initiative, a package designed to assist entrepreneurs and micro, small, and medium-sized enterprises in Saudi Arabia.

The initiative facilitates entrepreneurs and startups in verifying client data electronically by integrating with the National Information Center databases, ensuring top-notch safety, reliability, and supporting entrepreneurs' contributions to the national GDP. It enhances identity uses in emerging sectors and improves facility data quality.

SDAIA also presented plans for the third edition of the Global AI Summit, scheduled for Riyadh in September. Featuring over 250 speakers from across the globe, the summit will delve into AI potentials and its impacts across diverse fields.

SDAIA’s participation in the forum aligns with the Authority’s commitment to fostering partnerships with international entities. Through such collaborations, SDAIA strives to realize its vision of establishing a data-driven national economy, in line with the goals of Saudi Vision 2030, and positioning the Kingdom among leading countries in data and AI-driven economies.

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India to Offer $4-$5 Bln in Incentives for Electronics Production, Weaning Off China

A social media influencer uses a phone on the day of the unveiling of Hyundai IONIQ 9, a three-row electric SUV during a Hyundai event in the Hollywood Hills in Los Angeles, California, US, November 20, 2024. REUTERS/Daniel Cole
A social media influencer uses a phone on the day of the unveiling of Hyundai IONIQ 9, a three-row electric SUV during a Hyundai event in the Hollywood Hills in Los Angeles, California, US, November 20, 2024. REUTERS/Daniel Cole
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India to Offer $4-$5 Bln in Incentives for Electronics Production, Weaning Off China

A social media influencer uses a phone on the day of the unveiling of Hyundai IONIQ 9, a three-row electric SUV during a Hyundai event in the Hollywood Hills in Los Angeles, California, US, November 20, 2024. REUTERS/Daniel Cole
A social media influencer uses a phone on the day of the unveiling of Hyundai IONIQ 9, a three-row electric SUV during a Hyundai event in the Hollywood Hills in Los Angeles, California, US, November 20, 2024. REUTERS/Daniel Cole

India will offer up to $5 billion in incentives to companies to make components locally for gadgets from mobiles to laptops, two government officials said, in a bid to bolster the burgeoning industry and wean off supplies from China.
India's electronic production has more than doubled in the last six years to $115 billion in 2024, led by growth in mobile manufacturing by global firms such as Apple and Samsung. It is now the world's fourth-largest smart phone supplier.
But the sector faces criticism for its heavy reliance on imported components from countries such as China.
"The new scheme will incentivize production of key components like printed circuit boards that will improve domestic value addition and deepen local supply chains for a range of electronics," one of the two officials said.
The incentives are likely to be offered under a new scheme expected to be launched in two to three months, said the officials, who asked not to be identified as details of the scheme are not yet public.
The scheme is likely to offer incentives totaling between $4-$5 billion to global or local firms which qualify, Reuters reported.
The plan, designed by the India's electronics ministry, has identified components eligible for incentives and is in its final stages.
The finance ministry will approve the scheme's final allocation soon, the first official added, with the sources expecting it to be launched in the next 2-3 months.
India's electronics ministry and finance ministry did not immediately respond to requests for comment.
India is aiming to expand its electronics manufacturing to $500 billion by the fiscal year 2030, including production of components worth $150 billion, according to the government's top policy think tank Niti Aayog.
India imported electronics, telecoms gear, and electrical products worth $89.8 billion in the fiscal year 2024, with more than half sourced from China and Hong Kong, according to an analysis by private think tank GTRI.
"This scheme is coming at a time when it is critical to promote component manufacturing that will help us aim for a global-scale of electronics production," Pankaj Mohindroo, head of India's Cellular and Electronics Association, said.