Saudi Arabia, Oman to support digital economy growth, invest in underwater cables

Saudi Arabia and Oman on Saturday signed an executive program in the field of communications, information technology infrastructure and undersea cable investments. (Supplied)
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Updated 05 February 2023
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Saudi Arabia, Oman to support digital economy growth, invest in underwater cables

RIYADH: Saudi Arabia and Oman on Saturday signed an executive program in the field of communications, information technology infrastructure and undersea cable investments.

The agreement was signed between the Kingdom’s Ministry of Communications and Information Technology and the sultanate’s Ministry of Transport, Communications and Information Technology, in the presence of Saudi Arabia’s Abdullah Al-Swaha, and Oman’s Saeed bin Hamoud Al-Ma’awali.

“The program aims to exploit the geographical location of the two countries and promote investment in the submarine and terrestrial cables that pass through them,” the Saudi press Agency reported.

It would create a common work environment to enhance cooperation in the field of infrastructure for communications and information technology services, and high-speed digital interconnection for data exchange.

The executive program also aims to develop options for implementing regional digital connectivity through investment entities and licensed companies, and to expand investment in global data centers and cloud services that target regional presence to maximize benefit for the region. 


The founding economy: A blueprint for stability in the First Saudi State

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The founding economy: A blueprint for stability in the First Saudi State

  • The establishment of the First Saudi State created a secure environment that facilitated the arrival of caravans, secured vast trade routes, and revived commerce across the Arabian Peninsula

RIYADH: The economy during the founding stage of the First Saudi State served as a fundamental pillar in building the nation, consolidating its influence, and ensuring its stability. This early economic growth was inextricably linked to achieving security, unifying regions, and organizing society—factors that directly stimulated trade, stabilized markets, and enhanced the foundations of daily life in Diriyah and its surrounding areas.
According to Dr. Abdullah Al-Saleh Al-Othaimeen's "Diriyah: Origins and Development during the First Saudi State," published by the King Abdulaziz Foundation for Research and Archives (Darah), the founding economy stands as a historical model reflecting the reciprocal relationship between political stability and early economic prosperity.

Beyond its political and intellectual prominence, Diriyah emerged as a vibrant economic hub. (SPA)

The establishment of the First Saudi State created a secure environment that facilitated the arrival of caravans, secured vast trade routes, and revived commerce across the Arabian Peninsula.
Beyond its political and intellectual prominence, Diriyah emerged as a vibrant economic hub. Its active markets attracted merchants and students from across the region, all of whom benefited from the state-provided stability. The local society relied on diverse activities for its livelihood, including trade, agriculture, and livestock breeding, with horses and camels playing crucial roles in transportation, commerce, and securing roads.
The social and administrative organization upon which the state was founded ensured the continuous availability of goods and sustained market stability. Ultimately, the close relationship between public security and economic growth during this founding phase solidified Diriyah's position as a premier political and commercial center in the Arabian Peninsula.