Saudi Arabia explores digital partnerships with Germany, Japan, France

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Vice Minister of Communications and Information Technology Haytham Al-Ohali held discussions with officials from the three nations. SPA
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Vice Minister of Communications and Information Technology Haytham Al-Ohali held discussions with officials from the three nations. SPA
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Updated 17 December 2024
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Saudi Arabia explores digital partnerships with Germany, Japan, France

  • Vice minister of communications and information technology held discussions to strengthen collaboration in the digital economy space
  • Kingdom is working to position itself as a global leader in AI and digital transformation under Vision 2030

RIYADH: Saudi Arabia is exploring partnership opportunities with Germany, Japan, and France in emerging technologies, artificial intelligence, and digital infrastructure, as officials convened in Riyadh during the 19th Internet Governance Forum. 

Running from Dec. 15 to 19 at the King Abdulaziz International Conference Center, the UN-organized forum convened global leaders to promote international digital cooperation and address emerging challenges in Internet governance. 

On the sidelines, Vice Minister of Communications and Information Technology Haytham Al-Ohali held discussions with officials from the three nations to strengthen collaboration in the digital economy space. 

This comes as Saudi Arabia is working to position itself as a global leader in AI and digital transformation under Vision 2030. Goals include increasing the digital economy’s gross domestic product contribution from 14 percent in 2022 to 19.2 percent by 2025, digitizing 92 percent of government services, and raising the ICT sector’s GDP share to 4 percent. 

At the forum’s opening, the Kingdom unveiled the Riyadh Declaration, a commitment to developing inclusive and responsible AI technologies to address global challenges and drive economic value. 

Saudi Minister of Communications and Information Technology Abdullah Al-Swaha highlighted the declaration’s focus on AI’s role in increasing digital accessibility, enhancing digital literacy, protecting the environment, and promoting economic inclusion. 

He underscored the importance of ensuring fairness, inclusivity, and safety in the development and deployment of AI technologies while leveraging data for societal advancement. 

“The Kingdom is committed to addressing key challenges such as unequal access to algorithms, data, and computing resources,” Al-Swaha said. 

As part of its Vision 2030 goals, the Kingdom plans to provide high-speed broadband access to 90 percent of households in densely populated cities, implement nationwide e-invoicing to enhance tax compliance, and rank among the world’s top 15 countries in AI by the end of this decade. 

Al-Ohali’s meeting with Stefan Schnorr, state secretary at Germany’s Ministry for Digital and Transport, focused on strengthening technical cooperation and promoting innovation. 

His talks with Takuo Imagawa, the vice minister for international affairs at Japan’s Ministry of Internal Affairs and Communications, explored Saudi-Japanese partnerships in AI and emerging technologies. 

Similarly, Al-Ohali’s meeting with French Ambassador for Digital Affairs Henri Verdier centered on advancing joint initiatives in technical innovation and the digital economy. 

Gulf Cooperation Council Secretary-General Jasem Al-Budaiwi underscored the significance of Saudi Arabia hosting the IGF, reflecting the Kingdom’s leadership in digital governance and commitment to Vision 2030’s objectives. 

“This enhances the Kingdom’s position as a key destination for global events aimed at achieving sustainable development across various sectors,” he said. 

Al-Budaiwi added that the event highlights Saudi Arabia’s communications, information technology, and digital government capabilities. 

The forum, attended by over 9,000 participants from 170 countries, features more than 300 sessions under themes such as Harnessing Innovation and Balancing Risks in the Digital Space, Advancing Human Rights and Inclusion in the Digital Age, and Improving Digital Governance for the Internet We Want. 

The event highlights Saudi Arabia’s growing influence in digital governance and its efforts to harness innovation to drive global sustainability and digital inclusion. 


Closing Bell: Saudi benchmark index closes lower at 10,540 

Updated 24 December 2025
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Closing Bell: Saudi benchmark index closes lower at 10,540 

RIYADH: Saudi equities ended Wednesday’s session lower, with the Tadawul All Share Index falling 55.13 points, or 0.52 percent, to close at 10,540.72. 

The sell-off was mirrored across other indices, with the MSCI Tadawul 30 Index retreating 5.79 points, or 0.41 percent, to close at 1,393.32, while the parallel market Nomu slipped 74.56 points, or 0.32 percent, to 23,193.21.  

Market breadth remained firmly negative, as decliners outpaced advancers, with 207 stocks ending the session lower against just 51 gainers on the main market. 

Trading activity moderated compared to recent sessions, with volumes reaching 123.5 million shares, while total traded value stood at SR2.72 billion ($725.2 million). 

On the sectoral and stock level, Al Moammar Information Systems Co. led the gainers after surging 9.96 percent to close at SR172.30, extending its rally following a series of contract announcements tied to data center and IT infrastructure projects.  

Al Masar Al Shamil Education Co. climbed 4.89 percent to SR27.48, while Naqi Water Co. advanced 3.36 percent to SR58.50. Al Yamamah Steel Industries Co. and Al-Jouf Agricultural Development Co. also posted solid gains, rising 3 percent and 2.86 percent, respectively. 

Losses, however, were concentrated in industrial names. Saudi Kayan Petrochemical Co. fell 3.67 percent to SR4.73, while Makkah Construction and Development Co. slid 3.44 percent to SR80.  

Saudi Tadawul Group Holding Co. retreated 3.28 percent to SR147.50, weighed down by broader market weakness, and Saudi Cable Co. declined 3.18 percent to SR143.  

Alkhaleej Training and Education Co. rounded out the top losers, shedding just over 3 percent. 

On the announcement front, BinDawood Holding announced the signing of a share purchase agreement to acquire 51 percent of Wonder Bakery LLC in the UAE for 96.9 million dirhams, marking a strategic expansion of its food manufacturing footprint beyond Saudi Arabia.   

The acquisition, which remains subject to regulatory approvals, is expected to support the group’s regional growth ambitions and strengthen supply chain integration.  

BinDawood shares closed at SR4.68, up 0.43 percent, reflecting a positive market reaction to the overseas expansion move.  

Meanwhile, Al Moammar Information Systems disclosed the contract sign-off for the renewal of IT systems support licenses with the Saudi Central Bank, valued at SR114.4 million, inclusive of VAT.   

The 36-month contract is expected to have a positive financial impact starting from fourth quarter of 2025, reinforcing MIS’s position as a key technology partner for critical government institutions. The stock surged to the session’s limit making it the top gainer. 

In a separate disclosure, Maharah Human Resources confirmed the completion of the sale of its entire stake in Care Shield Holding Co. through its subsidiary, Growth Avenue Investments, for a total consideration of SR434.3 million.  

The transaction involved the transfer of 41.36 percent of Care Shield’s share capital to Dallah Healthcare, with Maharah receiving the full cash proceeds.  

Despite the strategic divestment, Maharah shares closed lower, ending the session at SR6.12, down 1.29 percent.