GEC NEWS WIREKingdom’s ICT Sector to exceed SAR 138 Billion by 2017, Driving New Investment Opportunities
Kingdom of Saudi Arabia will serve as the Official Country Partner for GITEX Technology Week 2015.
Demonstrating investment opportunities, the Kingdom’s ICT sector has expanded significantly over the past ten years and remains on a strong growth trajectory. Over the next five years, the Kingdom’s ICT market is expected to expand at a compound annual growth rate (CAGR) of 8.1% to exceed SAR 138 billion in 2017.
Public sector investment in ICT will play a key role in the Kingdom’s nationwide digital transformation, with the Kingdom’s public sector IT spending set to grow by 44% from 2014-2017, according to a report by IDC and Mobily.
“As the Official Country Partner for GITEX Technology Week 2015, the Kingdom will use this global platform to demonstrate best practices in government-led innovation to boost economic diversification, while encouraging foreign direct investment in the Kingdom’s ICT sector,” said Mohammed bin Abdullah Al Asiri, Official Spokesperson, National Information Center, Ministry of Interior, Kingdom of Saudi Arabia.
“For the 35th anniversary of GITEX Technology Week, the Kingdom is our ideal partner – a regional powerhouse for economic growth and technology innovation, and the region’s largest market for ICT investment.” said Ahmed Al Khaja, Senior Vice President, Dubai World Trade Centre, organisers of GITEX Technology Week 2015.
