STC Group CEO Khaled Biyari said the region is brimming with young people who are creative and capable of contributing to the positive transformation of the region’s economies when given the right environment.
Biyari was speaking at the opening session of the “Building Digital Economies in the Arab World” forum titled “The Digital Arab World, the Most Important Challenges and Opportunities” organized by the World Economic Forum (WEF) in the UAE.
He said both the government and the private sector in the Kingdom are focused on business incubators and the rapid development of the digital economy through young leaders, contrary to the prevailing view that the region is not attractive enough for talents and creators.
Biyari, who is a member of the Regional Business Council (RBC), said digital transformation provides many opportunities to speed up the region’s economies to cope with global transformation. This, he said, would help governments and companies to efficiently work hand in hand, and provide growth opportunities, which in turn would reduce dependence on natural resources.
He said investment in digital infrastructure such as advanced networks, data centers and platforms is important, given the large number of projects currently underway in the Kingdom.
Arab leaders from the public and private sectors who participated in the forum called for accelerating the shift in economic strategies in Arab countries in line with the digital and technical transformations taking place in the world’s economies. They pointed out that the leaders of public and private sectors are required to adopt new methodologies in education and economy to create an economic system that is suitable for the fourth industrial revolution, especially through investment in technology and digital infrastructure.
STC CEO stresses on investment in digital infrastructure for economic transformation
STC CEO stresses on investment in digital infrastructure for economic transformation
25,000 attend Social Development Bank’s DeveGO25 forum
The Social Development Bank concluded the second edition of the Entrepreneurship and Modern Business Practices Forum — DeveGo 2025 — announcing the achievement of high-impact outcomes that further reinforced the forum’s position as the largest national platform in the region dedicated to entrepreneurship, innovation, and freelance work in Saudi Arabia and beyond.
The forum witnessed broad participation from local and international experts, investors, entrepreneurs, and representatives of local, regional, and international institutions.
Over three days at the King Abdulaziz International Conference Center, the forum drew 25,000 participants and visitors, who benefited from over 45 specialized workshops and over 2500 advisory sessions delivered by more than 70 consultants and experts.
The sessions covered key areas including entrepreneurial planning, business models, venture capital, digital platforms, freelancing, and emerging technologies.
The forum also featured 20 panel discussions with leading local and international speakers, addressing major global trends in entrepreneurship, including the future of artificial intelligence, the creative economy, digital transformation, and venture investment.
The forum saw the launch of the Saudi Empretec Fellowship, in the presence of Rebeca Grynspan, secretary-general of the UN Conference on Trade and Development.
The partners in success within the Social Responsibility Portfolio supporting entrepreneurs were honored.
It also saw the honoring of 13 winners of the Handicrafts Competition, representing various regions of the Kingdom, the announcement of winners of the Salam Award for Promising Projects, and the recognition of leading entrepreneurial projects fund under the Enterprises Track.
In addition, the NEXT UP Challenge concluded on the third day of the forum with 20 startups presenting their projects to more than 500 investors, enhancing opportunities for networking and partnership building.
As part of efforts to strengthen the support ecosystem, the forum witnessed the signing of 51 agreements, along with the launch of a suite of new financing products. These included the Capital Expansion Product with a ceiling of up to SR10 million, the Payroll Product with a ceiling of SR2 million, and the Rental Product with a ceiling of SR1.5 million, aimed at supporting enterprises in asset development and covering operational costs.
This reflects the bank’s direction toward offering more specialized financing tools that respond effectively to market needs.
The forum concluded by reaffirming its role as a unifying national platform for entrepreneurship, where accompanying activities and events provided direct engagement opportunities between entrepreneurs, investors, and experts.
The forum also highlighted success stories and practical experiences that reflect the scale of entrepreneurial momentum in the Kingdom and the growing role of the Social Development Bank in supporting a national economy driven by innovation and knowledge.
