Ministry of Communications Unveils Roadmap for Building Deep Tech Ecosystem in Saudi Arabia

20:15-6 January 2025 AD ـ 07 Rajab 1446 AH

Ministry of Communications Unveils Roadmap for Building Deep Tech Ecosystem in Saudi Arabia

The Ministry of Communications and Information Technology (MCIT), in partnership with King Abdullah University of Science and Technology (KAUST) and in collaboration with "Hello Tomorrow," has launched the Deep Tech Report, highlighting the current state and future prospects of the deep tech ecosystem in Saudi Arabia and key initiatives supporting the goals of Saudi Vision 2030.

The report aims to shed light on the opportunities and potential in this vital sector, recognized as a cornerstone for advancing the digital economy and sustainable development, reported the Saudi Press Agency on Monday.

It focuses on five primary pillars of Saudi Arabia’s deep tech ecosystem: deep tech ecosystem, investment, infrastructure and ecosystem enablers, talent, and policies, regulations, and government incentives. It also emphasizes the role of research, development, and innovation in positioning Saudi Arabia as a global hub for advanced technologies.

The report reveals significant growth in the deep tech sector, with 50% of startups focusing on artificial intelligence (AI) and the Internet of Things (IoT). There are more than 43 high-growth startups driving innovation in the Kingdom, collectively securing over $987 million in funding in 2022, supported by 104 investors. Additionally, the number of researchers in Saudi Arabia has risen by 75% since 2015, reflecting the nation’s commitment to advancing research and development.

Vice Minister for Technology Mohammed Robayan stated that the report represents an important step in strengthening Saudi Arabia’s position as a global destination for advanced technologies. By prioritizing innovation and investing in talent and infrastructure, the Kingdom aims to build an integrated ecosystem that supports digital transformation and sustainable development.

He encouraged stakeholders in the public and private sectors, particularly academic institutions and investors, to leverage the report’s insights to create a roadmap that fosters innovation and contributes to achieving the goals of Saudi Vision 2030.

Apple Leads Surge in Global Tech Shares after Trump Tariff Relief

A plaque commemorating President Donald Trump’s and Apple CEO Tim Cook's announcement an additional $100 billion Apple investment in the US in the Oval Office of the White House in Washington, DC, USA, 06 August 2025. EPA/BONNIE CASH / POOL

Asharq Al Awsat

11:34-7 August 2025 AD ـ 13 Safar 1447 AH

Asharq Al Awsat

11:34-7 August 2025 AD ـ 13 Safar 1447 AH

Apple Leads Surge in Global Tech Shares after Trump Tariff Relief

Global technology stocks advanced on Thursday in a relief rally after the latest tariff salvo from US President Donald Trump largely exempted industry heavyweights from his threat to impose 100% levy on chips and semiconductors.

Trump said the new tariff rate would apply to "all chips and semiconductors coming into the United States," but would not apply to companies that had made a commitment to manufacture in the US or were in the process of doing so.

Apple's stock rose 3.3% in premarket trading after Trump's announcement on Wednesday that the company will invest an additional $100 billion in the US, a move that could help it sidestep potential tariffs on iPhones.

US-listed chipmakers advanced broadly, with Advanced Micro Devices up 2.5%, Intel gaining 2.1% and Nvidia up 1.1%, Reuters reported.

"A major uncertainty has been removed and investors can finally move on," UBS analysts said in a note.

Semiconductor manufacturing equipment supplier Applied Materials and chipmakers Texas Instruments, GlobalFoundries and Broadcom - Apple's partners in the investment effort - climbed between 0.8% and 10.1%.

European chipmakers also joined the rally, with ASML , ASMI and BE Semiconductor Industries climbing about 3% each.

Germany's Infineon said it could not speculate on possible semiconductor tariffs, as no details have been disclosed yet. Its shares were up 0.6%.

Trump's latest on semiconductor tariffs seemingly rules out Taiwanese chip contract manufacturer TSMC, which makes chips for most US companies, including Nvidia, as it has factories in the US.

"The market remains keen to buy TSMC on dips. Investors also believe they need to remain positioned in AI - with or without tariffs," UBS analysts said.

TSMC shares closed almost 5% higher to hit all-time highs, while Samsung Electronics and SK Hynix climbed 2.5% and 1.4%, respectively.

South Korea's Samsung and SK Hynix will also not be subjected to 100% tariffs on chips, the country's top trade envoy said.

Samsung has invested in two chip fabrication plants in Austin and Taylor, Texas, while SK Hynix has announced plans to build an advanced chip packaging plant and research and development facility for artificial intelligence products in Indiana.

Since stepping into the White House in January, Donald Trump has made several tariff threats, specifically on semiconductors, aimed at reshaping the supply chain of the industry and spurring domestic production.

"The (100% tariff) figure fits Trump's approach of 'open high, negotiate down' and the final figure could be similar to reciprocal tariffs to limit inflation in consumer goods, given that many have chips," said Phelix Lee, senior equity analyst at Morningstar.

Not everyone has come out of the latest blitz on the right side, with the Philippines and Malaysia looking to find out more details about the tariff rate.

Dan Lachica, the president of the trade body for the Philippine semiconductor industry, said 70% of its electronics exports are semiconductors and the new tariff rate would be "devastating". Philippine stocks were down 0.1% after falling as much as 0.9% during the day.

Malaysia's trade minister said the country has reached out to US counterparts for clarity on the tariffs.

Ministry of Communications Unveils Roadmap for Building Deep Tech Ecosystem in Saudi Arabia