Technological spend in Saudi highest globally
The governor of Digital Government Authority (DGA) Ahmed Mohammed Al-Suwaiyan said the Saudi government technological spend is the world’s highest at 21.7 percent, with a value of 93 billion riyals by 2025.
According to Saudi Press Agency (SPA), this came during his participation in the Global Entrepreneurship Conference hosted by Riyadh, under the patronage Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, and Chairman of the Council for Economic and Development Affairs, and organized by Small and Medium Enterprises General Authority (Monsha’at).
Al-Suwaiyan stated that government initiatives are working to promote localization in the digital sector, saying that the volume of investments amounted to 73 percent of the total venture capital financing.
Also, regarding government demand in the coming years, Al-Suwaiyan expected that IT services would capture 74 percent of the total demand in cloud computing solutions, software, and big data.
He added that DGA has launched the Digital Government Investment and Procurement Program (SADAF) Initiative to improve financial planning and accelerate digital procurement in government agencies, increase the participation of the private sector in digital government projects, raise the quality of work of digital government service providers and operators, stimulate foreign and local investment and enhance local content.