Market Intelligence
eCommerce Industry Saudi Arabia

Saudi Arabia Information Communication Technology Sector

In  August, the Kingdom of Saudi Arabia announced the launch of a major program that supports the country’s Information Communication and Technology (ICT) sector through three major ICT, including artificial intelligence, focused projects. The first and largest of these projects called “Himma” valued at $666 million USD, aims to boost the technology market with twenty innovative products developed by entrepreneurs and startups.  The other two projects are “Qimma” and “Tuwaiq” – these aim to support AI training and capacity building.

Over the summer, one of Saudi Arabia’s most visible government agencies –  the Saudi Zakat, Tax & Customs Authority – launched the “FATOORAH” project, considered one of the most ambitious national projects to date that aims to reduce paper consumption across the public sector, which will be an intense undertaking for the Saudi market.
These recent developments demonstrate the Kingdom’s commitment to develop its digital infrastructure and overall ICT sector.  The U.S. ICT sector is encouraged to seek opportunities through these various projects in Saudi Arabia, a relatively untapped market with the largest ICT market in the Middle East and North Africa region, and estimated at $17.06 billion USD. 

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