Saudi Arabia jumps 16 places on ICT pillar of Global Competitiveness Index

The spread of broadband and improvements in the country’s digital infrastructure boosted its international rating. (File/AFP)
Updated 10 October 2019

Saudi Arabia jumps 16 places on ICT pillar of Global Competitiveness Index

  • Saudi Arabia now ranks 38 globally on ICT pillar
  • The Kingdom is placed 11th globally on IT governance

DUBAI: Saudi Arabia improved by 16 places its information and communications technology adoption (ICT) pillar for the Global Competitiveness Index 2019, state news agency SPA reported on Wednesday.

The Kingdom now ranks 38, from 54th place during last year’s index reading, owing to the spread of broadband technology and improvements in the country’s digital infrastructure.

Saudi Arabia also placed third among G20 countries, and 11th globally, in terms of IT governance which rates a country’s ability to adapt digital technologies such as e-commerce and financial technology.

The annual Global Competitiveness Report, issued by the World Economic Forum, measures the strength of 141 countries through 103 key indicators – lumped in 12 index pillars – such as inflation, digital skills and trade tariffs.

The competitiveness developments signify the Saudi leadership’s support for the Ministry of Communications and Information Technology and their drive to fulfil the goals of Vision 2030, the Minister of Communications and IT Abdullah Al-Swaha said.


G20 ready to limit effects of coronavirus on global economy, Saudi finance minister

Updated 19 min 51 sec ago

G20 ready to limit effects of coronavirus on global economy, Saudi finance minister

RIYADH: Finance officials from the Group of 20 major economies agreed on Sunday to continue monitoring the risk from the coronavirus outbreak and to adopt appropriate policies to limit the global economic impact, Saudi Arabia's finance minister said.
The two-day gathering in Riyadh was dominated by growing concern over the widening fallout from the coronavirus outbreak, with the International Monetary Fund predicting it would shave 0.1 percentage point off global growth. 
During the meeting, which also included central bank governors heads of international and regional organizations, under the Saudi G20 Presidency, was chaired by Saudi finance minister Mohammed Al-Jadaan and the Saudi Central Bank
governor Ahmed Al-Kholifey.
They also discussed the global economic outlook and possible policy responses to support growth and safeguarding against downside risks, as well as the priorities of the Saudi G20 presidency, under the theme of “Realizing Opportunities of the 21st Century for All.” 
They also addressed the tax challenges arising from the digitalization of the economy, utilizing the benefit of technology for infrastructure, developing domestic capital markets, and framing supervisory and regulatory issues for the digital era.