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

Updated 08 February 2025
Nirmal Narayanan

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.

Topics: LEAP2025 technology AI

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Tabuk entrepreneurs, freelancers receive $61.2m from Social Development Bank in 2024

Updated 7 sec ago
MOHAMMED AL-KINANI
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Tabuk entrepreneurs, freelancers receive $61.2m from Social Development Bank in 2024

Updated 7 sec ago
MOHAMMED AL-KINANI

JEDDAH: Entrepreneurs and freelancers in Tabuk received over SR230 million ($61.2 million) in funding from the Social Development Bank in 2024, boosting established businesses and independent work in the region.

The government-owned financial institution announced that in 2024 it provided over SR75 million in financing to more than 200 businesses in the northwestern region and helped 4,000 freelancers with funding, totaling over SR155 million, according to the Saudi Press Agency.

SDB’s Regional Director Hamed Al-Anzi highlighted that this support is part of the bank’s efforts to enhance entrepreneurship and help individuals achieve financial independence through their own businesses.

The support aligns with Saudi Arabia’s Vision 2030 objectives, which includes raising the contribution of small and medium enterprises to 35 percent of the gross domestic product by the end of the decade. 

Speaking during a discussion panel at the “Diwaniya of the Chamber” event organized by the Tabuk Chamber of Commerce, Al-Anzi emphasized that SDB is working to offer a range of financial products targeting youth of both genders who wish to launch their own businesses, as well as specialized programs to support SMEs, which, he said, play a vital role in the development of the national economy.

He also emphasized that SDB and the National Entrepreneurship Institute, known as Riyadah, are partnering to empower young entrepreneurs to launch their businesses, creating job opportunities for the local community.

The regional director further encouraged aspiring business owners to make use of the digital platforms provided by supporting entities, which offer easy access to financing, training programs, and specialized consultations.

The session, attended by several regional businesspeople, concluded with a discussion on the challenges of freelancing and the requirements for starting new companies, highlighting the positive impact these initiatives have on Tabuk’s growing economy.

Supporting freelancers is crucial for the nation’s economy. In 2023, independent workers contributed SR72.5 billion to the GDP, representing 2 percent of the country’s total economic output.

As freelancing continues to grow, with over 2.25 million individuals registered on freelance platforms as of September, it plays an increasingly vital role in diversifying income sources and strengthening the national economy.

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Fitch affirms Qatar’s rating at AA, outlook stable

Updated 31 min 10 sec ago
Nirmal Narayanan
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Fitch affirms Qatar’s rating at AA, outlook stable

Updated 31 min 10 sec ago
Nirmal Narayanan

RIYADH: Qatar has retained its AA credit rating from Fitch Ratings, with a stable outlook, supported by the country’s expanding liquefied natural gas production capacity and high per capita income. 

The US-based agency highlighted Qatar’s strong fiscal position, citing one of the world’s highest gross domestic product per capita figures and a flexible public finance framework that bolsters the country’s resilience.

An AA rating signals very low credit risk and a robust ability to meet financial commitments, even in the face of foreseeable economic pressures.

Qatar’s strong credit rating aligns with the broader trend in the Middle East, where countries are steadily diversifying their economies to reduce reliance on crude revenues.

In February, Fitch affirmed Saudi Arabia’s IDR at A+ with a stable outlook, while the UAE received a rating of AA-. The agency also affirmed Kuwait’s AA- rating in March. 

“Qatar’s ‘AA’ rating reflects one of the world’s highest GDP per capita, our expectation that additional gas production will strengthen public finances and a flexible public finance structure,” said Fitch Ratings. 

The report highlighted Qatar’s plans to expand LNG production capacity from 77 million tonnes per annum to 110 mtpa in 2026 and 126 mtpa by 2027, eventually reaching 142 mtpa by 2030. 

According to Fitch, state-owned Qatar Energy’s North Field projects will support both hydrocarbon and non-hydrocarbon growth from 2025 to 2030. 

North Field, which holds nearly 10 percent of the world’s known LNG reserves, lies off the northeast shore of the Qatar peninsula, covering more than 6,000 sq. km — roughly half the country’s land area. 

“Funding plans for the 2030 phase will depend on hydrocarbon prices at that time but we expect it is likely that most of the project will be funded with internal resources,” added Fitch. 

The agency also projected that Qatar’s government debt-to-GDP ratio will fall to about 43 percent by 2027, down from 49 percent in 2024 and a peak of 85 percent in 2020. 

Fitch noted that Qatar’s government is expected to refinance most upcoming external market debt maturities and pay down external loans using a moderate budget surplus, excluding income from its sovereign wealth fund investments. 

Qatar’s sovereign net foreign assets per GDP reached $398 billion in 2024, up from $347 billion in 2023, reaffirming the country’s strong financial standing. 

However, the report also outlined key constraints that could impact Qatar’s rating in the future, including its heavy reliance on hydrocarbons, higher government debt-to-GDP ratio compared to regional peers, and regional stability risks. 

“Qatar has broadly normalized its relations with the GCC in recent years, although points of tensions remain. Qatar continues to position itself as a mediator in relations between Western powers and Iran and Hamas, among others,” Fitch noted. 

It added: “High tensions in the region and uncertainty around US Middle East policy contribute to the persistence of regional geopolitical risks, which could impact Qatar, although it has so far not been directly affected.” 

Topics: Qatar Fitch Ratings

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Egypt Suez Canal monthly revenue losses at around $800m, El-Sisi says

Updated 18 March 2025
Reuters
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Egypt Suez Canal monthly revenue losses at around $800m, El-Sisi says

Updated 18 March 2025
Reuters

CAIRO: Egypt’s President Abdel Fattah El-Sisi has announced that the monthly losses of the Suez Canal revenues reached around $800 million due to the regional “situation,” as Yemen’s Houthis have been attacking vessels in the Red Sea.

The Iran-backed Houthis have attacked vessels in the Red Sea area since November 2023 in support of Palestinians in Gaza during the war with Israel, disrupting global shipping by forcing vessels to avoid the nearby Suez Canal and reroute trade around Africa, raising shipping costs.

The Egyptian presidency statement did not directly refer to the Houthis, but El-Sisi said in December the disruption cost Egypt around $7 billion in less revenue from the Suez Canal in 2024.

The Yemeni group recently vowed to resume attacking US vessels in the Red Sea, in response to deadly US strikes on Yemen that killed at least 53 people on Saturday, in the biggest US military operation in the Middle East since President Donald Trump took office in January.

They also said last week they would resume attacks on Israeli ships passing through the Red Sea if Israel did not lift a block on aid entering Gaza.

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Oil Updates — crude gains on Mideast risks, China stimulus plan and data

Updated 18 March 2025
Reuters
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Oil Updates — crude gains on Mideast risks, China stimulus plan and data

Updated 18 March 2025
Reuters

BEIJING/SINGAPORE: Oil prices rose slightly on Tuesday, supported by instability in the Middle East as well as China’s stimulus plans and data, although global growth concerns, US tariffs and Russia-Ukraine ceasefire talks curbed gains.

Brent futures rose 36 cents, or 0.5 percent, to $71.43 a barrel by 10:00 a.m Saudi time, while US West Texas Intermediate crude futures rose 32 cents, or 0.5 percent, to $67.90

“Along with US strikes on the Houthis in Yemen, several factors provided support to the market,” ING analysts said in a research note.

“China unveiled plans to revive consumption, while Chinese retail sales and fixed asset investment growth came in stronger than expected.”

The state council, or cabinet, unveiled on Sunday a special action plan to boost domestic consumption, with measures such as boosting incomes and offering childcare subsidies.

On Monday, Chinese economic data showing that retail sales growth quickened in January-February also gave investors reasons for optimism, although factory output fell and the urban jobless rate reached its highest in two years.

Crude oil throughput in China, the world’s biggest crude importer, rose 2.1 percent in January and February from a year earlier, supported by a new refinery and holiday travel, official data showed on Monday.

Prices also gained support from President Donald Trump’s vow to continue the US assault on Yemen’s Houthis unless they end their attacks on ships in the Red Sea.

On the Israel-Palestinian conflict, Israeli air strikes in Gaza killed at least 200 people, Palestinian health authorities said, as attacks on Tuesday ended a weeks-long standoff over extending a ceasefire that halted fighting in January.

Highlighting persistent concerns about demand, a key downside risk for oil, the OECD said on Monday that Trump’s tariffs would drag down growth in the US, Canada and Mexico, which would weigh on global energy demand.

“With global supply surging and tariffs and trade wars set to hit global demand, we remain of the view that prices will head lower and eventually reach the mid $60s,” said Robert Rennie, head of commodity and carbon strategy at Westpac.

Further adding to global supply, Venezuela’s state-run PDVSA has put together three operational scenarios indicating it plans to continue producing and exporting oil from its joint venture with Chevron after the

US major’s license expires next month, according to a company document reviewed by Reuters on Monday.

Talks on Tuesday between Trump and Russian President Vladimir Putin about ending the Ukraine war were also in focus.

Markets believe a potential peace negotiation would involve the easing of sanctions on Russia and the return of its crude supply to global markets, weighing on prices.

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MSC launches service to boost Saudi-East Asia trade

Updated 17 March 2025
MOHAMMED AL-KINANI
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MSC launches service to boost Saudi-East Asia trade

Updated 17 March 2025
MOHAMMED AL-KINANI

JEDDAH: A new shipping service by Mediterranean Shipping Co. is set to strengthen trade links between Saudi Arabia and key ports in East Asia, bolstering the Kingdom’s global logistics network.

Saudi Ports Authority, known as Mawani, announced that MSC will launch the new “Clanga” line at the Jubail Commercial Port, adding that it will strengthen the Kingdom’s position in investment and logistics, according to the country’s official press agency.

The service will connect Jubail Commercial Port with King Abdulaziz Port in Dammam, Port of Singapore, and Port of Shanghai in China, as well as Port of Colombo in Sri Lanka, with a handling capacity of up to 6,000 twenty-foot equivalent units.

This move is expected to boost foreign investment and improve supply chain efficiency. It also aligns with Mawani’s efforts to enhance the competitiveness of Saudi ports and support national exports, as well as the National Transport and Logistics Strategy’s goal of establishing the Kingdom as a global logistics hub connecting three continents.

Mawani said in a statement that the addition of the service to the Jubail port highlights its strategic role in enhancing maritime transport and logistics while supporting economic activities in the Eastern Province.

The authority added that the port’s proximity to production hubs, coupled with advanced infrastructure, allows it to accommodate vessels of various types and sizes, further strengthening Saudi Arabia’s connectivity with global terminals. 

As a key facilitator of national exports, particularly industrial and petrochemical products from Jubail Industrial City, the port plays a crucial role in boosting the Kingdom’s global trade competitiveness, Mawani emphasized.

In August, MSC introduced the service at the King Abdulaziz Port, connecting the city with major terminals in China, including Ningbo, Shanghai, and Shekou, as well as Singapore.

Mawani announced at that time that the service would operate weekly voyages with a capacity of up to 15,000 TEU.

In a statement, MSC said the service was designed to address terminal congestion issues in the Middle East and enhance connectivity for Asia-Middle East cargo.

The shipping company, which won the “Best Shipping Line – Asia-Africa” award at the 2024 Asian Freight, Logistics, and Supply Chain Awards, further said that Clanga would offer a unique and competitive service for Saudi exports to the Far East through its direct call in Shanghai from Dammam.

Topics: Mediterranean Shipping Co Saudi Ports Authority (Mawani)

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