The advent of 5G mobile service in Saudi Arabia offers a major leap forward in communications quality, which is critically important to the Kingdom’s plans to modernise and develop a diversified, globally competitive economy. A 5G network will be faster, able to handle more data and can do so with lower latency – the delay in processing large...
As the world’s largest military spender per capita, Saudi Arabia is also examining ways to balance the books by maintaining the balance of power in the Middle East. At the same time, it is examining ways to balance its books by ensuring that a growing percentage of spending is on hardware locally produced within the Kingdom. Vision 2030 aims...
Agreements made with international manufacturers of military hardware could result in thousands of skilled jobs for Saudi citizens and substantial investment in the Kingdom. The deals comprise the first steps of a plan to create a domestic defence industry capable of supplying more than half of its annual demand for advanced weapons systems,...
The role of SMEs is being re-evaluated in the light of Vision 2030, which has made boosting their contribution to GDP a key part of its strategy to create opportunities in a thriving economy. A new government agency, the SME Authority (SMEA), was created in October 2015 to champion small businesses. SMEA notes that while in many advanced...
Ambitious plans to develop and expand automotive manufacturing are being drawn up, with a view to capitalising on the increasing availability of raw materials and a strong domestic market for cars and trucks. In August 2018 the Ministry of Energy, Industry and Mineral Resources (MEIM) announced that the Kingdom “is currently developing a city...
The 4IR has been described as a SR1trn ($266.6bn) opportunity for Saudi Arabia, but experts are warning that the Kingdom’s industries will have to adapt rapidly if they are to make the most of it by 2030. Following on from mechanisation, mass production and digitisation of production, the next step change in industrial development will be to...
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