Over 20 Canadian Companies Eager to Invest in Saudi Arabia’s Digital Transformation
More than 20 Canadian companies are eager to invest in Saudi Arabia’s digital transformation sector and capture opportunities in the Saudi telecommunications and technology market.
According to the Saudi Press Agency (SPA), the Saudi-Canadian Business Council has met with a delegation of Canadian technology companies to foster the bilateral cooperation.
Organized by the Federation of Saudi Chambers, the meeting saw the convergence of Director for the Middle East and Africa at the Ontario Ministry of Economic Development Job Creation and Trade Eyad Qudsi, alongside representatives from the federation’s national communications and information technology committee, various government entities, and investors.
The meeting highlighted the communications and information technology sector in both the Kingdom and Canada and the available investment opportunities, notably in the cities of “Neom” and “Ontario”.
The participants also discussed the business environment and facilities provided by the Kingdom for foreign investments, as well as ways to provide Canadian investors with access to the opportunities in the Saudi market.
During the meeting, Chairman of the Saudi-Canadian Business Council, Mohammed bin Nasser Al-Dulaim, underscored the remarkable growth of the information technology sector in the Kingdom and its successful initiatives.
The Chairman also noted that Saudi Arabia’s information technology sector is one of the largest markets in the region with over 57% of the total telecommunications market in the Middle East and 53% of the region’s information technology industries.
Meanwhile, the Canadian delegation shed light on the noticeable progress of Ontario’s technology sector, emphasizing its position as a home to over 22,000 high-tech companies with 420,000 employees.
Moreover, the sector contributes nearly US$53 billion in annual GDP, with exports surpassing US$9 billion.
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