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.”


Closing Bell: Saudi main market edges up to 10,745 points 

Updated 12 January 2026
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Closing Bell: Saudi main market edges up to 10,745 points 

RIYADH: Saudi equities closed higher on Monday, with the Tadawul All Share Index finishing up 135.69 points, or 1.28 percent, at 10,745.45. 

The MSCI Tadawul 30 Index also advanced, rising 22.21 points, or 1.57 percent, to close at 1,436.31, while the Nomu Parallel Market Index slipped 31.80 points, or 0.13 percent, to 23,586.94. 

Market breadth was positive on the main market, with 216 gainers against 42 decliners, while Nomu saw 42 stocks advancing and 36 declining. 

Trading activity picked up, with 261.7 million shares changing hands, while total turnover reached SR5.10 billion ($1.3 billion). 

Among the top performers, Saudi Fisheries Co. led the gains, closing at SR63.90, up SR5.80, or 9.98 percent. Naseej International Trading Co. rose to SR34.94, gaining SR3.16, or 9.94 percent, while Dar Al Arkan Real Estate Development Co. ended at SR16.74, up SR1.16, or 7.45 percent. 

Zahrat Al Waha for Trading Co. added 6.84 percent to close at SR2.50, and Alamar Foods Co. climbed 5.75 percent to SR42.70.  

On the losing side, Al Masar Al Shamil Education Co. fell 4.36 percent to SR23.90, while Saudi Paper Manufacturing Co. declined 2.82 percent to SR62.05.  

United International Holding Co. slipped 2.36 percent to SR153.40, Saudi Aramco Base Oil Co. dropped 2.09 percent to SR98.60, and United Electronics Co. eased 1.90 percent to SR85.00.  

On the announcement front, Mouwasat Medical Services Co. announced that its board has approved the establishment of a new hospital in Riyadh’s Al-Narjis District, with a planned capacity of 280 beds and a total investment cost of SR900 million.  

The project will be financed through a mix of self-funding and long-term Shariah-compliant bank facilities, with further details on timelines and financial impact to be disclosed at a later stage.  

Shares of Mouwasat Medical Services Co. closed at SR67.95, gaining SR1.40, or 2.10 percent. 

Saudi Arabian Mining Co. reported a net addition of 7.8 million ounces of new gold resources following extensive exploration and drilling activities across multiple sites, alongside the identification of new mineralization opportunities in gold and base metals. 

The company noted that the financial impact of these discoveries has yet to be determined and will be assessed in due course.  

Shares of Saudi Arabian Mining Co. closed at SR67.50, up SR3.05, or 4.73 percent.