Islamophobia threatens global peace and coexistence, not just Muslims, says MWL chief at UN    Power bank likely caused South Korea plane fire, investigators say    Gold prices hit $3,000 for the first time as investors push the panic button    Hungary drops veto and agrees to prolong EU sanctions on Russian individuals    China hits out at 'threats of force' on Iran as Trump pushes for new nuclear deal    Makkah Lanterns Festival returns for the eighth year as part of Ramadan activities    Crown Prince receives Yazeed Al-Rajhi after historic Dakar Rally 2025 victory    SR17 million fines slapped on 16 individuals and companies convicted of violating Capital Market Law    Saudi Arabia welcomes border agreement between Tajikistan and Kyrgyzstan    Saudi ambassadors take oath before Crown Prince    16 endangered species released into AlUla's Protected Areas    Saudi Crown Prince reaffirms support for a political solution to Ukraine crisis in call with Putin Putin praises Saudi Arabia's constructive role and mediation efforts    NCM forecast: Thunderstorms to hit most Saudi regions until Monday    Saleh Al-Shehri's late penalty rescues Al Ittihad against Al Riyadh    Grand Mufti rules against posting prayers and preaching in mosques on social media    Man lives for 100 days with titanium heart in successful new trial    Argentinian court begins trial of seven healthcare professionals over Maradona's death    Al Hilal crushes Pakhtakor to storm into AFC Champions League quarter-finals    Singer Wheesung who wooed Korea with his ballads, found dead at 43    Prince Frederik of Luxembourg dies from rare disease    Real-life shipwreck story wins major book award    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Emphasis on technology during Muhammad's visit
Published in The Saudi Gazette on 23 - 06 - 2016

In a bid to translate the promises to develop and advance Saudi Arabia's digital infrastructure as part of the ambitious Vision 2030 plan, Deputy Crown Prince Muhammad Bin Salman, second deputy premier and minister of defense, has been busy meeting technology giants in California.
As of Tuesday, Prince Muhammad met with executives and signed memorandums of understanding with Microsoft and Cisco Systems.
Under an agreement with Microsoft, the company is set to train young Saudis and support Saudi Arabia in its ambitious digital and knowledge-based innovation transformation under Vision 2030.
"One of the things we have found is when you have a broad agenda like the Kingdom has around human capital development it has to start right in your primary to middle schools all the way into the industry," Microsoft's CEO Satya Nadella told Al Arabiya's correspondent Muna Shikaki.
Saudi Arabia's "Vision 2030" reform plans unveiled in April set out a specific goal of improving high-speed broadband access in the Kingdom and to exceed housing coverage of 90 percent in densely populated cities and 66 percent in other urban zones.
In order to achieve that goal, Saudi Arabia has also partnered with Cisco Systems, the largest networking company in the world at a market cap of $146 billion.
Following a meeting between Cisco executive members and Prince Muhammad, a memorandum of understanding was signed with Cisco Systems to help develop digital infrastructure in the Kingdom.
Enabling the Saudi private sector is an important objective under the Vision 2030 as it only contributes less than 40 percent of the GDP. "In technology, we will increase our investments in, and lead, the digital economy," a line in the plan read.
"Additionally, we will improve our regulations and establish an effective partnership with telecom operators to better develop this critical infrastructure. We will also support local investments in the telecommunications and information technology sectors," another line in the plan read.
Analysts say the focus on technology plays into the wider picture of realizing the goal of diversifying Saudi Arabia's oil-dependent economy. That is why Saudi Arabia are also looking to invest in start-up companies, in the hopes that future partnerships will play closer to home once they truly go global.
Looking to the future
A key example is Saudi's massive $3.5 billion cash input into Uber earlier this month. Uber, a private firm, has an estimated value of between $51-61 billion. Saudi's fund is likely hoping for a large payout when – or if – Uber goes public.
"In order to realize Saudi Vision 2030, Silicon Valley technology offers the Kingdom a number of platforms and remedies to not only help push the National Transformation Program (NTP) along, but also to make tech-savvy Saudi youths a part of the effort," said Gulf-based analyst Dr. Theodore Karasik in an op-ed published on Al Arabiya English.
"The point is to corral the potential talent of Saudi youths, who are some of the most impressive users of social media in the world, and give them employment," Karasik added.
"At least 80% of our riders in Saudi Arabia are women who can get around the cities and have access to everything that Saudi cities have to offer and we are proud of that and that was apparent to the people investing," Uber CEO Travis Kalanick told Al Alarabiya News Channel's Muna Shikaki. "We are a global company, we serve 500 cities and over 70 countries and so as Saudi Arabia looks to go global to connect to the world and look for the most innovative technologies, Uber was a natural choice," he added.
Washington observers also agreed, saying that the Deputy Crown Prince's visit to California posed a win-win situation for both sides. "In California, the technology capital is primed to showcase its futuristic plans to the man who decided that his country must join the technological revolution as a partner and contributor," columnist Raghida Dergham said in an opinion piece on Al Arabiya English.
At the US-Saudi CEO Summit held in earlier January, Thomas Donohue, head of the US Chamber said: "There are incredible opportunities for competitive American companies to bring their technology, knowledge, and financing to the Kingdom and to partner with and support key Saudi companies."


Clic here to read the story from its source.