Riyadh - Sharikat Mubasher: Saudi Arabia is spearheading efforts to upgrade its digital infrastructure as part of Vision 2030, with the goal of becoming a global technology and innovation hub.

The Minister of Commerce Majid Al-Kassabi revealed that the Kingdom has invested $25 billion to enhance its digital infrastructure and plans to invest an additional $20 billion over the upcoming years.

Speaking at a panel discussion during the 2025 World Economic Forum (WEF) Annual Meeting in Davos, Al-Kassabi stated that Saudi Arabia is working with other Gulf countries to open new markets through the Free Trade Agreement.

He also emphasized the Kingdom’s commitment to diversifying local industries, noting that the Premium Residency system has successfully attracted global investors and talent.

Additionally, Al-Kassabi pointed out that the services sector contributes 65% to the global gross world product (GWP), underscoring its significance in economic growth.

The WEF Annual Meeting 2025 began on 20 January, gathering global leaders to address global and regional challenges. These include responding to geopolitical shocks, stimulating growth to improve living standards, and stewarding a just and inclusive energy transition.