The Saudi Council of Ministers, during a session chaired by the King of Saudi Arabia and Custodian of the Two Holy Mosques, Salman bin Abdulaziz Al Saud, approved the policy of the digital economy, which aims to encourage investment and accelerate local technical leadership, and to attract international partnerships based on transfer of expertise and cooperation in the field of innovation and technical and digital transformation.
In this context, the Minister of Communications and Information Technology, Chairman of the National Committee for Digital Transformation, Eng. Abdullah bin Amer Al-Sawaha, said, “The cabinet’s approval to launch the digital economy policy is a road map that clarifies the Kingdom’s approach to government agencies, the sector, the private and the international community in files related to the digital economy.” He explained, "The digital economy policy is an extension of the Kingdom's efforts during its presidency of the G20 2020 in overcoming obstacles and addressing the challenges facing expanding the base of private sector participation in the digital economy, by enabling and defining a framework for a reliable, human-centered economy, in addition to being based on seven basic principles for developing an attractive investment digital environment.”
The Kingdom aims to raise the size of its economy to become among the first "15" ranks in the world, by creating an attractive investment environment and diversifying its economy, to raise the percentage of non-oil exports from 16% to 50% of the non-oil GDP and raise the share of the private sector from 40% to 65% of the GDP.
Source (Saudi Press Agency, Edited)
