LEAP 2025: A Digital Transformation for Saudi Arabia
Saudi Arabia is making a major play in the global tech arena. The LEAP 2025 tech conference saw an impressive $14.9 billion in investment pledges on its opening day. This cash injection highlights the country’s commitment to economic diversification and its Vision 2030 plan.
These investments are not just about throwing money around; they’re aimed at specific goals. The focus is on developing digital skills, supporting the growth of tech startups, and fueling innovation across the Kingdom, according to Abdullah Alswaha, Saudi Arabia’s Minister of Communications and Information Technology.
Alswaha emphasized that these initiatives are key to empowering the tech sector and accelerating Saudi Arabia’s shift toward an economy driven by innovation and artificial intelligence (AI). This direction is directly aligned with the goals outlined in Vision 2030, spearheaded by Crown Prince and Prime Minister Mohammed bin Salman Al Saud.
MENA’s Digital Boom & Saudi’s Central Role
The digital industry in Saudi Arabia, and the wider Middle East and North Africa (MENA) region, is booming. The digital economy in MENA has grown by 73% from 2021 to 2024, reaching a massive $260 billion. Notably, Saudi Arabia accounts for half of that figure. This growth has also led to a surge in jobs. The number of tech jobs in Saudi Arabia jumped from 150,000 in 2021 to a considerable 381,000 in 2024.
LEAP 2025: A Hub for Innovation
With the theme “Into New Worlds”, the conference showcased the latest advancements in various sectors. Over 1,800 global tech brands, 680 startups, and 1,000 expert speakers were present, highlighting next-generation solutions in areas like space, gaming, education, and smart cities.
Tencent Cloud, a subsidiary of Tencent Holdings, announced a plan to establish its first Middle East data center in Saudi Arabia. They plan to invest over $150 million in the region, driving digital economy innovation. Dan Hu, VP of Tencent Cloud International for MENA, noted that this expansion supports Saudi Arabia’s aim to attract foreign investment.
The goal is for Saudi Arabia to become a major global technology hub under Vision 2030. Hu stated that cloud computing will be the underlying infrastructure to support the prosperity of AI applications in the Kingdom.
Furthermore, Alat, a company owned by Saudi Arabia’s Public Investment Fund, is partnering with Lenovo to build an advanced manufacturing and technology center focused on AI and robotics. The Chinese tech giant Alibaba is also getting involved, planning to launch an AI empowerment program in collaboration with Tuwaiq Academy.
Smart City Solutions and Collaboration
The King Abdullah Financial District Development and Management Company signed a memorandum of understanding with Huawei to implement smart city solutions, AI, and other advanced technologies.
Avoiding Digital Division
Alswaha also addressed the importance of avoiding division in the tech sector. He pointed out the current value of the digital economy is $16 trillion, yet 2.6 billion people still lack access to it. He highlighted that 100 million of those excluded are in the Global North while 2.5 billion are in the Global South.
The minister stressed the need to celebrate all advancements in AI without polarization, such as the advancements of ChatGPT and DeepSeek.
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