Saudi Arabia urges global cooperation to build trust, strengthen cybersecurity frameworks

A panel session at the Global Cybersecurity Forum held in Riyadh. AN
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Updated 03 October 2024
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Saudi Arabia urges global cooperation to build trust, strengthen cybersecurity frameworks

RIYADH: Saudi Arabia’s efforts to spearhead global cooperation in digital defense took center stage at the Global Cybersecurity Forum held in Riyadh, as building trust via a global partnership is key, according to an official.

Speaking during a panel session at the event, the Minister of State for Foreign Affairs, Adel Al-Jubeir, highlighted the Kingdom’s proactive stance in building international trust in the digital space.

“There are areas where that can be used in order to build confidence, and that confidence helps us work better with each other,” Al-Jubeir said.

He added: “Because one, I understand two issues, one on the protection of children, and one on the empowerment of women. I don’t believe anyone on this globe can not appreciate and support the importance of protecting our children from evil on the Internet.”

Al-Jubeir pointed out that cybersecurity is no longer just a technical issue but a crucial factor in attracting investment. 

“When investors look at countries, they look at cybersecurity. It’s become now one of the main, if not the main issue,” he said. 

Al-Jubeir continued: “Would you invest in a company in which you cannot use the Internet safely? Of course not, so this is an incentive for countries to do something about enhancing and protecting their networks.”

Adding to the discussion, the former Indian Minister of Foreign Affairs, Shyam Saran, underlined the urgency of keeping pace with the quick advancements in cyber technology. 

“The speed of change is so rapid that states are constantly playing catch-up, both in terms of domestic laws and international agreements,” he said. 

Saran added: “Because of the speed of change that is taking second here you have a technology which is, in fact, in the nature of what I would call a multiplicator. That is, it has an impact across various domains.”

He highlighted that cybersecurity impacts multiple sectors, including defense and energy, making collaboration even more essential.

Al-Jubeir stressed the complexities of cybersecurity compared to other global challenges, such as trade or environmental issues. 

“With cyber, a single individual sitting in a dorm room can wreak havoc on a nation’s electricity system, banking system, or defense system,” he said. 

This global nature of cyber threats, he explained, necessitates a collaborative effort among nations to develop a unified framework of laws and procedures that protect cyberspace.

This proactive approach is part of Saudi Arabia’s broader strategy to position itself as a responsible global actor, connecting continents through its strategic geographic location. 

“Our policy has always been about connectivity — whether it’s data lines, sea lanes, or air traffic. We are cognizant of the responsibilities and opportunities our position offers the global community,” Al-Jubeir said. 

He added: “Saudi Arabia is all about bridge building. Just look at our geographic location cases between three continents: Asia, Africa, and Europe. The more bridges we build, the more connectivity we have, whether that connectivity is shipping, whether it’s data lines, whether it’s cyber, whether it’s thought connectivity.”

Additionally, the minister underscored the comprehensive nature of the Kingdom’s approach to cybersecurity, which aligns closely with its Vision 2030 initiative. 

This sweeping reform plan aims to diversify the economy and create a secure digital environment conducive to technological innovation and investment.

Al-Jubeir highlighted how the digital age has transformed global job creation and industries, making it easier for countries to benefit from outsourcing through cyber technologies.

“In the past, nations hosted call centers which created jobs and spin-off industries,” he said, adding that today’s technologies, such as 3D printing, enable production across borders, creating even more opportunities. However, he warned that these advantages will only be realized by countries that establish a solid legal framework and secure their networks from vulnerabilities.

Al-Jubeir pointed to Saudi Arabia’s Vision 2030 as a prime example of a comprehensive reform initiative that integrates economic and social development with a focus on cybersecurity.

“What we have done in Saudi Arabia when you look at Vision 2030 is very comprehensive,” he said. The minister emphasized the importance of ensuring every aspect of society is connected and protected from cyber threats, stressing that even a single weakness in the system could lead to widespread disruption.

Reflecting on the need for agility in the digital economy, Al-Jubeir urged nations to be quick and adaptable to maintain their competitive edge. 

“If you’re not quick on your feet and comprehensive, you’re going to lose, and you are going to forfeit opportunities,” he said. 

Al-Jubeir also emphasized the importance of global collaboration in cybersecurity, advocating for shared baselines and codes of conduct that will help create a secure international framework. 

He added: “Very optimistic that we can get there, but the key is to get globally everyone to think in terms of baselines.”


Saudi exchange leads GCC in foreign net buying in 2025, hits $5.5bn: Kamco Invest

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Saudi exchange leads GCC in foreign net buying in 2025, hits $5.5bn: Kamco Invest

RIYADH: Foreign investors poured $5.5 billion into the Saudi exchange in 2025, the highest net buying in the Gulf Cooperation Council, an analysis showed. 

In its latest report, Kamco Invest said the Kingdom was followed by the Abu Dhabi and Kuwait exchanges, which saw net foreign inflows of $3.4 billion and $1.5 billion, respectively, over the 12 months.

Dubai and Qatar also registered net buying in 2025, amounting to $1.3 billion and $171 million, respectively. 

The steady performance in the majority of exchanges in the region comes as GCC equity markets continue to attract global capital, buoyed by strong corporate earnings and ongoing economic reforms.

“The yearly trend indicated continued positive activity by foreign investors on GCC exchanges in 2025, although total buying declined over the course of the year,” said Kamco Invest in the report. 

According to the analysis, the Oman Exchange recorded the largest net sales by foreign investors in 2025 at $440 million, followed by Bahrain, which posted net sales of $10.3 million. 

In the fourth quarter of 2025, net buying by foreign investors in the Kingdom stood at $1 billion, followed by Oman at $86.6 million. 

All other exchanges, excluding the Kingdom and Oman, witnessed a net selling trend in the fourth quarter. 

“Quarterly trading data showed that foreign investors were net sellers in Q4-2025 on all exchanges barring Saudi Arabia and Oman. Saudi Arabia recorded net foreign buying of $1 billion, while Oman saw net inflows of $86.6 million during the (fourth) quarter, partially offsetting the overall net sales across the region,” added Kamco Invest. 

Foreign investors were the biggest sellers of Abu Dhabi stocks with net sales of $1 billion during the quarter, followed by Kuwait at $187.9 million, Bahrain at $45.6 million, and Qatar at $8.8 million. 

Saudi Arabia and Oman also recorded consecutive net buying by foreign investors across all three months of the fourth quarter, signaling rising investor interest in these countries. 

Dubai exhibited a net selling trend during the first two months of the fourth quarter, which subsequently reversed to net buying in the final month of the year. 

Qatar registered net buying in the first month of the quarter before shifting to net selling in the second month, and returned to net buying in the final month.

The UAE and Kuwait exchanges experienced consistent net selling by foreign investors across all three months of the fourth quarter.

Kamco Invest said that the key factors which affected the flow of foreign money in the region included regional market trends, economic health of individual countries and crude oil prices.