LEAP 2025: Saudi Arabia’s tech ambitions take center stage

Under the theme “Into New Worlds,” LEAP 2025 aims to expand business networking and investment opportunities in the tech sector. Supplied
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Updated 08 February 2025
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LEAP 2025: Saudi Arabia’s tech ambitions take center stage

RIYADH: Saudi Arabia is set to host its flagship technology event, LEAP 2025, in Riyadh from Feb. 9, bringing together visionaries, innovators, and investors from around the world. The latest edition follows last year’s record-breaking LEAP 2024, which saw $13.4 billion in investments and project commitments.

Under the theme “Into New Worlds,” LEAP 2025 aims to expand business networking and investment opportunities in the tech sector. The event plays a critical role in Saudi Arabia’s ambition to become a global technology hub, aligning with its Vision 2030 plan to diversify the economy. As part of this initiative, the Kingdom has pledged $100 billion toward advancing its technology sector.

This comes as a World Economic Forum report projected that investment in research, development, and innovation will add $16 billion to Saudi Arabia’s GDP by 2030.

The government has committed to investing 2.5 percent of the nation’s annual GDP in the sector by 2040.

LEAP 2025 is co-organized by Tahaluf and the Ministry of Communications and Information Technology, in partnership with Informa PLC, the Saudi Federation for Cybersecurity, Programming and Drones, and the Events Investment Fund.

According to the event’s website, this year’s LEAP is expected to host more than 680 tech startups, 1,100 speakers, 1,800 technology brands, and over 170,000 visitors.

Driving tech aspirations

Industry leaders view LEAP as a catalyst for Saudi Arabia’s technological ambitions. 

“The future of technology is being shaped by ecosystems that blend digital innovation with real-world transformation. Saudi Arabia’s journey, highlighted at LEAP, showcases how technology is driving giga-projects such as NEOM, Red Sea Global, and Qiddiya,” said Mamdouh Al-Doubayan, managing director of Globant in the Middle East and North Africa.




Mamdouh Al-Doubayan, managing director of Globant in the Middle East and North Africa. Supplied

“These initiatives demonstrate that building a knowledge-based economy is not just about deploying cutting-edge tools — it’s about fostering environments where innovation solves tangible challenges and drives societal progress,” he added.

Globant is among the companies supporting the Kingdom’s Vision 2030 through tech-driven collaboration.

In December, Saudi Minister of Communications and Information Technology Abdullah Al-Swaha underscored the conference’s role in realizing the Kingdom’s economic transformation.

“The decision to move to a ticketed format this year makes LEAP more of an exclusive experience for attendees and relevant to today’s global technology elite,” Al-Swaha said.

“LEAP 2025 will showcase exceptional technology innovations, business opportunities, and content — ensuring Saudi Arabia becomes the world’s undisputed technology aggregator,” he added.

Thibault Werle, managing director and partner at Boston Consulting Group, emphasized LEAP’s role in positioning Saudi Arabia as a regional tech leader.




Thibault Werle, managing director and partner at Boston Consulting Group. Supplied

“In only three years, LEAP has become a flagship event uniting tech leaders, investors, and entrepreneurs, cementing the Kingdom’s role as a hub for transformative technologies shaping industries and economies alike,” Werle said.

Werle added that Saudi Arabia is not merely adopting technology but actively reshaping its future by building a dynamic ecosystem that fosters innovation and entrepreneurship.  

Programs and speakers

LEAP 2025 will feature the return of DeepFest, the region’s leading forum on artificial intelligence, as well as new segments such as the SportsTech Track and Tech Arena.

The SportsTech Track will highlight cutting-edge innovations in sports technology, featuring live demos, industry announcements, and insights from leading figures. Notable speakers include Patrice Evra, former Manchester United forward; Mathieu Flamini, co-founder of GF Biochemicals and former French international; and Iker Casillas, ex-Real Madrid and Spain goalkeeper.

Tech Arena, another new addition, will offer hands-on experiences with prototypes and live product demonstrations. The Startup Stage will serve as a platform for emerging entrepreneurs to pitch groundbreaking ideas in the technology sector.

LEAP 2025 will kick off with an opening address by Al-Swaha, followed by keynote speeches from Charbel Aoun, smart city lead at NVIDIA for Europe, the Middle East, and Africa, and Arvind Krishna, chairman and CEO of IBM.

Other prominent speakers include Prince Faisal bin Bandar bin Sultan Al-Saud, chairman of the Saudi Esports Federation; Alison Wagonfeld, chief marketing officer of Google Cloud; Kam Ghaffarian, executive chairman of Axiom Space; and Javier Tebas, president of La Liga.

Industry heavyweights such as Saudi Aramco, PepsiCo, Logitech, Lucid, NEOM, and the Royal Commission of AlUla will be among the key participants.

“We are thrilled to join LEAP 2025, a pivotal event that provides a unique platform highlighting the latest advancements in technology and innovation. We look forward to engaging with industry leaders, exploring new partnerships, and showcasing our innovations that empower users to create, collaborate, and bring their creative visions to life,” said Rocky Tang, general manager of enterprise development at Wondershare.

Håkan Cervell, vice president and head of Saudi Arabia at Ericsson Middle East and Africa, said the company’s presence at LEAP reflects its commitment to supporting Vision 2030.

“Like every year, we are truly excited to showcase Ericsson’s innovative technologies at LEAP 2025 and how they are empowering a sustainable, connected future for Saudi Arabia and beyond,” Cervell said.

Expanding opportunities 

Beyond panel discussions and keynotes, LEAP 2025 will provide a wide range of networking and investment opportunities. The conference will include investor matchmaking programs, exclusive networking lounges, and specialized workshops tailored to startups and enterprises looking to scale in Saudi Arabia’s burgeoning tech ecosystem.

Another highlight of this year’s event is the Future Mobility Pavilion, where companies specializing in electric vehicles, autonomous driving, and smart transportation solutions will showcase their latest developments. Industry leaders from Tesla, Lucid Motors, and Saudi Public Transport Company are expected to participate in discussions about the future of mobility in the Kingdom.

LEAP 2025 will also emphasize advancements in cybersecurity and blockchain technology, with dedicated panels on data privacy, digital identity, and decentralized finance. Experts from Microsoft, IBM, and Saudi Arabia’s National Cybersecurity Authority will provide insights into emerging threats and strategies for safeguarding digital assets.

Additionally, the conference will serve as a platform for universities, research institutions, and tech incubators to showcase cutting-edge research and development projects. Attendees will have the opportunity to engage with scientists and developers leading breakthroughs in artificial intelligence, biotechnology, and quantum computing.

The last edition was reportedly the world’s most attended technology conference, drawing over 215,000 visitors and driving Riyadh’s hotel occupancy rates to 99 percent.

With an agenda packed with industry-leading discussions, networking opportunities, and hands-on tech experiences, LEAP 2025 is poised to further cement Saudi Arabia’s position as a leading force in global technology.


Fitch lifts Oman’s credit rating to BBB- amid stronger finances

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Fitch lifts Oman’s credit rating to BBB- amid stronger finances

JEDDAH: Fitch Ratings has upgraded Oman to investment-grade status, raising its long-term foreign-currency rating from BB+ to BBB-, citing the Sultanate’s stronger public finances, improved external position, and continued commitment to prudent fiscal management.

The agency noted that Oman has successfully strengthened fiscal discipline, reducing government debt significantly to around 36 percent of gross domestic product in 2025, down from about 68 percent in 2020, according to the Oman News Agency.

With the outlook remaining stable, Fitch expects the budget deficit to stay at a safe level of approximately 1 percent of GDP in 2026–2027, assuming an average Brent crude price of $63 per barrel, while the fiscal breakeven oil price is estimated at around $67 per barrel for the same period.

The upgrade reflects Oman’s sustained fiscal and external recovery since 2020, underpinned by sharp debt reduction, disciplined budgeting, and stronger external buffers.

Government debt has fallen to around 36 percent of GDP from nearly 68 percent five years ago, while the sultanate has turned into a net external creditor for the first time in years, according to Fitch’s report.

The agency added that the rating also factors in steady non-oil growth, rising foreign investment, and reforms aimed at widening the tax base, even as it cautioned that Oman’s heavy reliance on hydrocarbons and state-owned enterprise leverage remain key structural risks.

“Domestic consumption, robust foreign investment and tourism will maintain non-oil growth above 3.5 percent in 2026 and 2027,” the rating agency’s release stated.

On the economic front, Fitch expects Oman’s GDP to grow by around 4 percent in 2025, up from a 1.6 percent expansion in 2024, supported by strong non-oil sector growth of 3.8 percent.

“Domestic spending, continued foreign direct investment inflows, and expanding tourism are likely to sustain non-oil growth above 3.5 percent over 2026–2027,” ONA reported.

The report also underscored a major turnaround in Oman’s external finances, with the country becoming a net external creditor in 2024, equivalent to 2 percent of GDP, compared with its net debtor position in 2021.

This improvement, ONA said, was driven by government debt repayments, reduced liabilities at state-owned firms, stronger foreign assets, and higher reserves.

Fitch emphasized that Oman’s rating could be upgraded further if the government strengthens its resilience to oil price volatility by broadening non-oil revenues, sustaining fiscal gains through continued debt reduction, and bolstering external reserves and sovereign wealth fund assets, as per ONA.