Saudi Arabia’s Digital Economy Surpasses $100 billion
Saudi Arabia's Digital Economy Surpasses $100 billion
Asia’s 2023 Digital Economy Report released on Thursday revealed that Saudi Arabia’s digital economy has surpassed $100 billion, reported Maal.
According to the Xinhua News Agency, China has made significant progress in the digital economy in terms of volume. It reached a value of $7.47 trillion in 2022.
Li Baodong, the Secretary-General of Boao Forum for Asia issued a report during an event in Beijing. The report ranked Japan second with $2.37 trillion, followed by South Korea with $952.3 billion.
“China is one of the countries where the digital economy enjoys the most development-friendly environment, the strongest growth momentum, and the widest applications,” said Baodong.
Moreover, he explained that the recent Central Economic Work Conference in China emphasized the need to make efforts to enhance new manufacturing and develop the digital economy.
” It can be expected that the digital economy will continue till it becomes an important driving force for China’s economic growth,” added the Secretary-General.
He urged Asian countries to work together to enhance the sharing of digital economic development benefits, promote network building and research cooperation, and strengthen the connection of information infrastructure.
Saudi-Japanese Digital Economy Partnership
The Saudi- Japanese partnership focused on advancing the digital economy. Furthermore, it aims to use of the latest technologies in businesses. With a memorandum of understanding (MoU) formalizing their commitment, the two countries will embark on a collaborative journey towards digital transformation.
The MoU encompasses a wide range of cooperative efforts aiming at fostering digital innovation and enhancing digital government services.
Moreover, this partnership will serve as a platform for collaborative initiatives in research and innovation. A dedicated team will work on developing cutting-edge digital services for the government. By exchanging best practices and policies, both countries aim to leverage the power of digital platforms and e-signatures.
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