Riyadh will welcome world to Expo 2030 with a renaissance in digital innovation, says Saudi minister

Saudi Minister of Communications and Information Technology Abdullah Al-Swaha speaks at a Saudi Green Initiative Forum. (File/SPA)
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Updated 06 January 2024
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Riyadh will welcome world to Expo 2030 with a renaissance in digital innovation, says Saudi minister

  • Minister of Communications and IT Abdullah Al-Swaha said the event will serve as a bridge to connect the world through science, innovation and culture

RIYADH: The Saudi minister of communications and information technology, Abdullah Al-Swaha, said on Saturday the Kingdom’s commitment to hosting Expo 2030 reflects its desire to be a global leader in efforts to empower people, protect the planet and help shape new horizons.

The event will serve as a bridge to connect the world through science, innovation and culture, he added, with the full support of King Salman and Crown Prince Mohammed bin Salman, who have been instrumental in driving the country’s growth and prosperity.

“Saudi Arabia’s hosting of this important event is the result of the crown prince’s support for this file to enable the Kingdom to be the focus of the world’s attention, and serve as a unique platform that opens horizons for the future and welcomes the world with its solid heritage, digital and innovative renaissance, and diverse culture,” Al-Swaha told the Saudi Press Agency.

He added that initiatives by the Kingdom in the fields of technology, innovation, space and sustainability have put Riyadh in a pioneering position to help achieve a better future for all.

He emphasized the importance of international connections and cooperation in efforts to find solutions to the most pressing challenges the world faces, in particular those related to sustainable development, climate action, and growth, and said Riyadh Expo 2030 aims to address them comprehensively.

Al-Swaha also highlighted the leadership role the Kingdom has taken in the field of artificial intelligence through the establishment of the region’s first Generative Artificial Intelligence Accelerator, and the deep technology business incubator The Garage, the largest of its kind in the region.

“Today, we have an opportunity to lay the foundation for our global future economy, as we enter the era of generative artificial intelligence at a time when the Kingdom has distinguished itself among the G20 countries by adopting an ecosystem-based approach,” he said.

The minister added that several significant digital accomplishments by the Kingdom have garnered global recognition in the past year. For example, it ranked third in the World Bank’s GovTech Maturity Index, and took fourth place globally in terms of readiness for digital regulations according to an International Telecommunication Union report titled “Global Digital Regulatory Outlook 2023.”

RIYADH: The Saudi minister of communications and information technology, Abdullah Al-Swaha, said on Saturday the Kingdom’s commitment to hosting Expo 2030 reflects its desire to be a global leader in efforts to empower people, protect the planet and help shape new horizons.

The event will serve as a bridge to connect the world through science, innovation and culture, he added, with the full support of King Salman and Crown Prince Mohammed bin Salman, who have been instrumental in driving the country’s growth and prosperity.

“Saudi Arabia’s hosting of this important event is the result of the crown prince’s support for this file to enable the Kingdom to be the focus of the world’s attention, and serve as a unique platform that opens horizons for the future and welcomes the world with its solid heritage, digital and innovative renaissance, and diverse culture,” Al-Swaha told the Saudi Press Agency.

He added that initiatives by the Kingdom in the fields of technology, innovation, space and sustainability have put Riyadh in a pioneering position to help achieve a better future for all.

He emphasized the importance of international connections and cooperation in efforts to find solutions to the most pressing challenges the world faces, in particular those related to sustainable development, climate action, and growth, and said Riyadh Expo 2030 aims to address them comprehensively.

Al-Swaha also highlighted the leadership role the Kingdom has taken in the field of artificial intelligence through the establishment of the region’s first Generative Artificial Intelligence Accelerator, and the deep technology business incubator The Garage, the largest of its kind in the region.

“Today, we have an opportunity to lay the foundation for our global future economy, as we enter the era of generative artificial intelligence at a time when the Kingdom has distinguished itself among the G20 countries by adopting an ecosystem-based approach,” he said.

The minister added that several significant digital accomplishments by the Kingdom have garnered global recognition in the past year. For example, it ranked third in the World Bank’s GovTech Maturity Index, and took fourth place globally in terms of readiness for digital regulations according to an International Telecommunication Union report titled “Global Digital Regulatory Outlook 2023.”


Stc Group issues US dollar-denominated sukuk with a total value of $2bn

Updated 09 January 2026
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Stc Group issues US dollar-denominated sukuk with a total value of $2bn

RIYADH: Stc Group has issued US dollar-denominated sukuk with a total value of $2 billion across two tranches.

The group clarified that the issuance included the offering of $750 million in sukuk with a 5-year maturity at a yield of US Treasury plus 75 basis points, and an issuance of $1.250 billion with a 10-year maturity at a yield of UST plus 90 basis points, according to the Saudi Press Agency.

It noted that the total order book exceeded $8 billion across both tranches, with a coverage rate exceeding 4 times, and participation from over 300 investors in the subscription.

The issuance garnered strong demand from a broad and diverse base of international investors, reflecting solid confidence in the robustness and efficiency of stc Group’s business model and strategy. 

This strategy is aimed at strengthening its digital leadership, seizing infrastructure opportunities, enabling massive projects, and contributing to the realization of Vision 2030 objectives, with a focus on achieving sustainable growth based on operational efficiency and maximizing shareholder value.

This issuance enhances stc Group’s access to international capital markets and solidifies investor confidence in the strength of its credit position. 

It also supports its strategic role in accelerating the pace of digital transformation in the Kingdom and building a thriving digital economy.