Agility and resilience powered by talent and technology are what enabled Saudi Arabia to reach new heights during the pandemic, the Kingdom’s Minister for Communications and Information Technology, HE Engr. Abdullah Alswaha said during his keynote address at LEAP.
Taking place in Riyadh from 1st to 3rd February, under the theme ‘One eye on the stars,’ LEAP builds on the government’s ongoing technology initiatives and underlines the Kingdom’s Vision 2030.
In his speech, Engr. Alswaha noted that following the onset of the COVID-19 pandemic, the new normal called on governments and companies to embrace change at speed.
According to the Saudi minister, by being agile governments, businesses and societies were able to pivot to new opportunities and anticipate market transitions. In addition, being resilient allowed them to absorb the shock waves and withstand the challenges. “However, it was with agility and resilience powered by talent and technology that they were able to switch gears from ‘survival’ to ‘thriving’ mode in the toughest year that we have seen in the past 90 years,” he said.
Further into his keynote address, Engr. Alswaha lauded the Saudi Ministry of Health’s quick action and effective use of advanced technologies in handling the COVID-19 pandemic, underscoring that the Kingdom’s response to the crisis was second best globally. He also highlighted how FinTech played a role in helping individuals and organisations throughout lockdowns, noting it helped save “tens of millions of jobs and tens of billions of dollars in economic value” across the region.
Saudi Arabia’s tech market has grown significantly over the years and is now worth more than $40 billion with over 318,000 jobs in the sector. The nation is also making significant strides in enabling diversity in the workforce with more and more women employed in the ICT industry.
“We have come a long way as a region and as a nation,” said Engr. Alswaha. “LEAP is our opportunity to lead with talent and technology, lead with agility and resilience, and to join hands with you to leapfrog into the future.”
The Saudi minister then concluded his address by announcing the $6.4 billion worth of investments that the Kingdom will introduce together with major global and regional players such as Aramco, NEOM Tech & Digital Company, stc, J&T Express and more. The investments will be focused on enabling future technologies and entrepreneurship, including the launch of The Garage – a platform where startups can access funding, space, mentorship and other tools – which he likened to the keystones of Silicon Valley.
The inaugural three-day LEAP summit will spotlight the entire innovation ecosystem, connecting pioneers and disruptors with business and government leaders, entrepreneurs, investors and more to experience and learn about the technologies of the future.
