SMEs ‘main beneficiary’ of fourth industrial revolution: Minister

Bandar Alkhorayef, Minister of Industry and Mineral Resources

The fourth industrial revolution technologies will reflect positively on mining and industrial businesses, with the small and medium enterprises as the main beneficiary, said Bandar Alkhorayef, Minister of Industry and Mineral Resources, on the sidelines of the First Saudi Forum for the Fourth Industrial Revolution.

The Kingdom laid out an advanced digital infrastructure and ranked among the world’s top countries in the 5G network rollout, said Alkhorayef.

Saudi Arabia began the transformation process, driven by its young, educated, and knowledgeable population. This will further boost the Kingdom’s openness to innovation and qualitative jobs.

The Kingdom’s advanced e-government system established several entities to help the implementation of the transformation process.

Additionally, Saudi Arabia needs to develop environmental organizations to make optimum use of the Fourth Industrial Revolution via developing policies, legislations and Saudi manpower, along with encouraging research and innovation, integrating the industrial, academic and research divisions and financing the digital transformation projects.