Saudi Arabia’s Minister of Communications and Information Technology, Abdullah Al-Swaha, said on Thursday that the Kingdom ranks third in 5G deployment globally.
Speaking at the Future Investment Initiative 2019 in Riyadh, he added that Saudi Arabia is the 18th largest global economy.
“Saudi Vision 2030 is once in a lifetime opportunity to transform a nation, a region and the globe,” he asserted, adding that it entails a multiplier effect socially and economically fueled by the Saudi leadership, youth, and technology which is being fully supported by global investors and innovators.
Al-Swaha praised the significant role of Crown Prince Mohammed bin Salman in supporting the growth of telecommunications sector in the Kingdom, through approving a digital stimulus package that helped accelerating fiber and 5G bundles.
He also discussed the role of Artificial Intelligence (AI), Virtual Reality (VR) in improving people’s life, and achieving growth in different sectors including education.
Communications minister concluded that the figures and reports of the International Monetary Fund, World Bank, and World Economic Forum showcase the Kingdom’s openness for businesses, investments, culture, entertainment, and innovation.
The session also covered how global businesses are engaged in purposeful efforts to improve human health and promote new levels of prosperity and happiness, elevate the world’s collective consciousness and redefine modern society.
The Public Investment Fund (PIF) is organizing the third annual Future Investment Initiative 2019 (FII) themed ‘What is next for global business?’, under the patronage of Saudi Arabia’s King Salman, from October 29th to 31st 2019 in Riyadh.
Write to Christine El Cheikh at christine.elcheikh@argaamplus.com
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