CITC-SAUDI-ARABIA
19.12.2019 16:25:10 CET | Business Wire | Press release
Riyadh is set to become the Arab world’s first ever digital capital city. The announcement was revealed at the 23rd session of the Council of Arab Ministers of Communications and Information Technology, which took place on December 18 at The Ritz-Carlton hotel in Saudi Arabia’s capital.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191219005518/en/
The decision to name Riyadh the Arab Digital Capital follows the city’s prominent role in adopting and promoting the use of digital technologies to enhance socio-economic development, advance healthcare, improve education, and to ultimately increase community welfare, which helped to elevate the ICT sector's contribution to GDP to 4%. The Kingdom also climbed 16 places in World Economic Forum’s Global Competitive Index 2019 in terms of ICT adoption, and topped in the ease of doing business ranking according to the World Bank’s 2020 report.
The ‘Arab Digital Capital’ initiative seeks to encourage the creation of a stimulating ecosystem for investment in Information and Communications Technology (ICT), activate initiatives that develop knowledge within the ICT industry across Arab countries, and to adopt new initiatives that facilitate and enhance tech entrepreneurship in the Arab region.
Minister of Communications and Information Technology His Excellency Eng. Abdullah Al-Swaha extended congratulations to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and to His Royal Highness Prince Muhammad bin Salman bin Abdulaziz, Crown Prince and Deputy Prime Minister and Minister of Defense. He hailed the great and unlimited support to the sector by the Kingdom’s good government, which highlighted it regionally and internationally. He also emphasized the acknowledgment as an addition added to the record of the Saudi ICT sector’s march, which has advanced the country’s digital infrastructure making it eligible for obtaining this title and precedence. This came in a keynote speech at the announcement ceremony attended by the Secretary-General of International Telecommunication Union, relevant Ministers, Arab Ambassadors to Riyadh and a number of interested ICT professionals and specialists.
Saudi Arabia is the region’s largest ICT market and ranks 13th globally, with a value of $28.7 billion in 2019 and strong growth in both the consumer and enterprise segments. Supported by a young and tech-savvy population, Saudi Arabia is a market of early technology adopters, with one of the highest social media penetrations in the world. Mobile subscribers stood at 43.8 million in 2019, representing a 129% penetration of the total population.
Following the launch of Vision 2030, the last few years have seen a significant acceleration in the proliferation of digital transformation initiatives. In 2019, Saudi Arabia was second among G20 countries for radio spectrum liberalization, with a subsequent positive impact on the quality of digital services provided by local operators experienced.
Supported by a 93% internet user penetration versus the global average of 53%, Saudi Arabia also became the first adopter of commercial 5G technology in the Middle East and North Africa, and the third largest globally – an achievement that is set to boost the adoption of other digitalization trends characterizing the Fourth Industrial Revolution. In parallel, the Kingdom is the 5th G20 country in internet speed, and jumped 91 places from 105th to 14th in the relevant global rankings, with a 51.8Mbps average speed.
Earlier this year, Ministry of Communications and Information Technology (MCIT) launched a five-year strategy aimed at accelerating the sector’s growth by 50% and elevating its contribution to GDP by $13.3 billion. Despite the global trend towards job disruption as a consequence of digitalization, the MCIT’s technology localization initiatives have significantly increased the ICT sector’s employment capacity in 2019.
The “Arab Digital Capital” award is a recognition of Saudi Arabia’s achievements in the ICT sector and is set to provide an even greater impetus to the country’s already busy regional and international agenda in the coming year. As the only Arab nation represented in the G20, Saudi Arabia will be hosting the G20 meetings throughout 2020, under the theme “Realizing Opportunities of the 21st Century for All.” The G20 Leaders Summit will take place on November 20-21, 2020 in Riyadh, the newly nominated Digital Capital of the Arab World.
Editor’s Note: new website for Riyadh Arab Digital Capital 2020 is at www.adcapitals.org
*Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20191219005518/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Angel’s Profits Grew Robustly in the First Half of 2026 with Europe and North America Turning Profitable Ahead of Schedule31.8.2026 21:07:00 CEST | Press release
Angelalign Technology Inc. (“Angel” or the “Company”) (6699.HK) (angelaligner.com), the second largest clear aligner supplier by revenue, announced today that its revenue grew 42.9% to US$230.7 million and net profit grew 79.6% to $25.5 million for the six months ending June 30, 2026. Angel’s business in Europe and North America crossed into profitability ahead of plan while the business in Chinese mainland delivered market share gains well above expectations. Doctors and staff in every region report that they are increasingly selecting Angel’s solutions after experiencing more predictable outcomes, especially on complex cases, and embracing the positive culture of the company. Dr. Mark Holt D.D.S., M.S. of Holt Orthodontics in Northern California, states: “We treat over half of our patients with clear aligners and our experience with Angel’s treatment plans and clear aligners has been tremendous.” “Our main focus is to provide great service to and being a rock-solid partner for our cu
BeOne Medicines Announces Voluntary Agreement with U.S. Government to Expand Access to Innovative Cancer Medicines31.8.2026 21:00:00 CEST | Press release
Agreement advances patient access and strengthens BeOne's long-term commitment to U.S. innovation and manufacturing BeOne Medicines, Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced a voluntary agreement with the U.S. Government to expand access to innovative cancer medicines for American patients while strengthening our U.S manufacturing footprint and further expanding the capabilities needed to deliver medicines at scale. The agreement builds on BeOne's longstanding commitment to patient access and investment in research and scientific innovation. John V. Oyler, Co-Founder, Chairman and CEO, BeOne Medicines, said: “At BeOne, we believe every patient should benefit from innovative cancer therapies. We appreciate the Trump Administration’s commitment to advancing solutions that broaden access and scientific progress for American patients. This agreement reflects our purpose to reach more patients as we expand our U.S. investment in additional res
MEX Exchange, Part of MultiBank Group, Announces Senior Leadership Appointments31.8.2026 15:36:00 CEST | Press release
David Ogg appointed Vice Chairman and Brian Andreyko named CEO MEX Exchange, the institutional electronic trading platform of MultiBank Group, has announced two senior leadership appointments, with David Ogg promoted to Vice Chairman and Brian Andreyko promoted to Chief Executive Officer. The appointments strengthen the company’s leadership as it advances the development of its institutional electronic trading platform. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260831401493/en/ MEX Exchange, part of MultiBank Group, Announces Senior Leadership Appointments with David Ogg appointed Vice Chairman and Brian Andreyko named CEO. David Ogg brings more than four decades of experience in foreign exchange trading and trading technology and is widely recognised within the institutional FX industry as the “Father of the ECN.” He founded HotspotFX in 1999, the first institutional FX electronic communications network, before going o
Rimini Street Announces Stock Repurchase and Debt Reduction Transactions31.8.2026 15:00:00 CEST | Press release
The Company recently completed an additional $5.0 million of common stock repurchases and $5.0 million of debt prepayment that brings total fiscal year-to-date capital return and balance sheet optimization to $30.9 million Rimini Street, Inc., (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced additional, recent capital return and balance sheet optimization actions as noted below during the fiscal third quarter through August 28, 2026: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260831961587/en/ Rimini Street Announces Stock Repurchase and Debt Reduction TransactionsDebt Reduction: The Company prepaid $5.0 million of its term loan and has reduced term loan debt by a total of $25.9 million fiscal year-to-date, reducing the outstanding balance t
rhode Announces Official Launch Date for Its Retail Expansion in Europe with Sephora31.8.2026 15:00:00 CEST | Press release
rhode, the beauty brand founded by Hailey Rhode Bieber and part of e.l.f. Beauty (NYSE: ELF), today announced its collection of high-performance, skin-focused products will be available at Sephora online and in most stores across Europe starting Wednesday, 30 September, 2026, following its 2025 rollout with Sephora in the U.S., Canada, and the U.K. This expansion with Sephora in Europe increases global access to rhode through physical retail, marking a pivotal next stage for the brand. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260831869746/en/ rhode will be available at Sephora online and in most stores across Europe starting Wednesday, 30 September, 2026 Launched in June 2022, rhode began with a curated lineup of efficacious skincare, expanding into hybrid makeup. Each launch has garnered tremendous demand, inspiring shifts across the beauty industry and culture at large. Today, rhode remains the No.1 overall skincare
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom
