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The Kingdom Launches a “Digital Economy Policy” to Stimulate Competitiveness and Global Leadership

SCBC Team – Riyadh

The Cabinet approved a digital economy policy in the Kingdom, the provisions of which aim to achieve diversified and sustainable economic growth, create competitive advantages for the Kingdom, achieve global leadership in promising sectors, and support the development of the national economy.

The new digital economy policy consists of 7 principles, the first of which is:
1. Achieving a smart and connected digital structure that enables broadening the participation of all in the digital economy and maximizing the role of government digital data and platforms.
2. Supporting the applications of emerging technologies by employing emerging technologies to serve people, and increasing productivity, with interest with local content.
3. Prepare for future jobs, by training and qualifying national cadres, creating future jobs, and developing work methods
4. Support and encourage innovation, harnessing innovative solutions to serve society, and support scientific research and entrepreneurship.
5. Spreading digital culture, improving the quality of life using technology, and empowering women to participate in the digital economy
6. Secure a safe and reliable digital environment by developing systems and regulations and enhancing cybersecurity.
7. Create an attractive, competitive investment environment by promoting the growth of promising markets and enabling e-commerce applications.