LEAP conference set to showcase Saudi Arabia’s tech and entrepreneurial ambitions

Special LEAP conference set to showcase Saudi Arabia’s tech and entrepreneurial ambitions
Saudi Arabia is projected to spend over $24 billion on various technologies by 2025 in the pursuit of its Vision 2030 goals to diversify the economy. (Supplied)
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Updated 06 February 2023
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LEAP conference set to showcase Saudi Arabia’s tech and entrepreneurial ambitions

LEAP conference set to showcase Saudi Arabia’s tech and entrepreneurial ambitions
  • Over 100,000 innovators, investors and experts from around the world descending on Riyadh for four-day event 
  • LEAP will be co-located with DeepFest, an AI event organized by Saudi Authority for Data and Artificial Intelligence

RIYADH: Artificial intelligence, digital economy, and digital metaverses may be terms the average technology aficionado expects to hear at a conference in Seoul or Silicon Valley. This week, however, all things tech will be the talk of the town in the Saudi capital, Riyadh.

From Feb. 6 to 9, over 100,000 tech innovators and leading experts will gather for the second LEAP conference, a global platform for tech professionals from around the world.

Held alongside LEAP will be DeepFest, the inaugural AI event powered by the Saudi Authority for Data and Artificial Intelligence. Both events demonstrate the Kingdom’s aim to take its place among the world’s most technologically advanced nations.

The Kingdom is projected to spend over $24 billion on various technologies by 2025 — the highest in the world, according to the Saudi Press Agency.




Investing in data literacy training for public sector employees ensures that data is being used effectively. (Supplied)

At last year’s LEAP conference, Saudi Minister of Communications and Information Technology Abdullah Al-Swaha announced that the country would be investing $6.4 billion in future technologies and entrepreneurship to further solidify the Kingdom’s position as the Middle East and North Africa region’s largest digital economy.

The growth of the Saudi tech industry, in line with the goals of Saudi Vision 2030, is a way for the Kingdom to diversify its economy away from oil and gas revenues.

According to a 2022 Economist Intelligence report, Saudi Arabia was the world’s fastest-growing major economy in 2022, “outperforming the dynamic Asian giants of China, India, Indonesia and South Korea, as well as the struggling G7 and other major emerging economies.”

LEAP broke records last year when its inaugural conference became the world’s largest tech event ever held. This year looks to be just as big, if not bigger, than last, with top professionals in the tech industry traveling to Riyadh from across the world.

“Saudi Arabia’s recent investments in its digital economy, as well as its information and communications technology sector, helped consolidate its position as the leading information and communication technology market in the Middle East and North Africa,” Imad Abuizz, digital and technology platform leader at the business management consultant firm PwC Middle East, told Arab News.

Since the announcement of Saudi Vision 2030 seven years ago, the Kingdom has launched a series of initiatives that emphasize technology as a tool for social and economic reform.

Strategic agendas under Vision 2030 focus on regenerating the country’s digital infrastructure to boost economic growth, knowledge and enhance daily life. To this end, Saudi Arabia has committed to an annual investment of 2.5 percent of GDP in the sectors of development, research and innovation by 2040.

The Kingdom’s technological plans are supported by SDAIA, which was launched by royal decree in August 2019.

The same year, the Saudi government launched Absher, a smartphone application which enables citizens and residents of Saudi Arabia to access a variety of government services.

“Government spending demonstrates a big focus on digitalization,” Fadi Komati, a digital government consulting leader at PwC Middle East, told Arab News. “Why the sector is moving so quickly is because the majority of the population is young and eager to move forward and advance in cutting-edge technologies.




Fadi Komati

“The government’s digital transformation and continued investment in Information and Communication Technology (ICT) and innovation lay the groundwork for a lot of opportunities, both for the private and public sector.”

Komati underlines how government investment in tech is “encouraging the private sector to become more mature, thus also stimulating and incentivising international companies to visit and open in Saudi Arabia.”

“The increased progress in the private tech sector within Saudi Arabia is a result of government investment in the sector,” he said.

In the same vein, Saudi tech entrepreneur Hussein Attar, CEO at private investment firm Tech Invest Com, told Arab News: “In terms of Saudi Arabia, all the giga projects being launched, such as NEOM, have placed a strong focus on technological innovation. Every giga project has a funding side that is investing in tech. Saudi Aramco also has its own investment fund for technology.”




Hussein Attar

At last year’s LEAP conference, Saudi Aramco unveiled a billion dollars’ worth of investments in developing start-ups through entrepreneurship support fund Prosperity 7 Ventures. NEOM Tech & Digital Holding Co. stated it was investing $1 billion in future technologies and launching the new M3LD AI engine as well as the XVRS digital twin metaverse.

Technological investment in Saudi Arabia is also paramount to the country’s environmental goals. In October 2022, at the sixth edition of the Future Investment Initiative, Aramco unveiled a $1.5 billion sustainability fund, one of the world’s largest sustainability-focused venture capital funds.

Recent data demonstrates the rise of Saudi Arabia as a growing global center, both regionally and internationally, in both the private and public sectors. According to the 2022 Saudi Arabia Venture Capital Report produced by Magnitt, the Kingdom was one of the emerging markets that recorded year on year growth nearing the $1 billion mark.

Saudi Arabia’s tech evolution is a way for the country to connect with the wider region and the world. AI, which was a recent focus at this year’s World Economic Forum in Davos, Switzerland, is paramount to the Kingdom’s growth in the field of tech.




A scene from LEAP 2022. (File photo Supplied)

In September 2022, the Saudi Public Investment Fund’s Saudi Company for Artificial Intelligence announced an investment of $776 million in a joint venture with China’s SenseTime to develop the AI ecosystem in Saudi Arabia.

“The Kingdom’s advanced technological infrastructure, high-caliber developments in the field of AI, and high standards designed by government authorities encourage AI businesses to plug in and grow in a regionally leading market,” Dr. Turki Almugaiteeb, a Saudi expert in technological development and innovation, told Arab News.




Dr. Turki Almugaiteeb

Saudi Arabia has also signed a number of partnerships with global AI providers to find practical solutions to everyday problems, Komati said, adding: “AI is very high on the agenda in Saudi Arabia because it is considered a mechanism by which technology can provide much bigger benefits.”

Technological investment and the Kingdom’s numerous avenues being explored for technological growth and innovation are also about education and offering a better life for its citizens, residents, and all visitors to Saudi Arabia.

In the words of Almugaiteeb, the key ingredients in Saudi Arabia’s rise to tech giant status are “the great human resources being developed in the Kingdom, combined with educated young Saudis in the field, many of whom have gained experience abroad.”

 

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Symposium on fatwas to be held at Prophet’s Mosque

Symposium on fatwas to be held at Prophet’s Mosque
Updated 28 November 2023
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Symposium on fatwas to be held at Prophet’s Mosque

Symposium on fatwas to be held at Prophet’s Mosque
  • A fatwa is a legal ruling on a point of Islamic law

RIYADH: The head of religious affairs at the two holy mosques Sheikh Abdul Rahman Al-Sudais announced that royal approval had been issued to hold a symposium on fatwas at the Prophet’s Mosque in Madinah.

A fatwa is a legal ruling on a point of Islamic law, and the symposium will focus on rulings at the two holy mosques and their impacts on facilitating visitors to the religious sites.

Al-Sudais said the symposium is an extension of the efforts of the Saudi government to serve the two holy mosques and conveying their message to the world in accordance with the Kingdom’s moderate approach based on the Qur’an and the traditions of the Prophet Muhammad.

He explained that the approval to hold this symposium supports the shift in methods of issuing fatwas and their digitalization in a way that suits and meets the religious needs of the visitors of the mosques, while helping them perform their rituals.

Al-Sudais added that the approval of King Salman to hold the symposium reflected the Kingdom’s concern for fatwas, given their direct impact on the pilgrims to the Two Holy Mosques.


Saudi crown prince, Ukrainian president discuss Ukraine-Russia conflict

Saudi crown prince, Ukrainian president discuss Ukraine-Russia conflict
Updated 28 November 2023
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Saudi crown prince, Ukrainian president discuss Ukraine-Russia conflict

Saudi crown prince, Ukrainian president discuss Ukraine-Russia conflict
  • Crown prince affirmed the Kingdom's commitment and support for all international efforts aimed at resolving crisis

RIYADH: Saudi Crown Prince Mohammed Bin Salman received a phone call on Monday from the president of Ukraine Volodymyr Zelensky, Saudi Press Agency reported.

During the call, the crown prince affirmed the Kingdom's commitment and support for all international efforts aimed at resolving the Ukrainian-Russian crisis.

President Zelensky, in turn, acknowledged the efforts undertaken by the Kingdom in this regard.

The conversation also included a review of the bilateral relations between the two countries, as well as a discussion on various issues of mutual interest.


Greek Embassy hosts agri-food event in Riyadh on eve of Saudi Horeca exhibition

Greek Embassy hosts agri-food event in Riyadh on eve of Saudi Horeca exhibition
Updated 27 November 2023
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Greek Embassy hosts agri-food event in Riyadh on eve of Saudi Horeca exhibition

Greek Embassy hosts agri-food event in Riyadh on eve of Saudi Horeca exhibition
  • Attica Sense showcases Greek products with aim of enhancing Saudi-Greek cooperation and highlighting investment opportunities in the Kingdom and wider region
  • It takes place the day before the start of Saudi Horeca 2023, a 3-day annual international exhibition for food, beverage and hospitality companies

RIYADH: An event in Riyadh on Sunday offered visitors the chance to learn more about agri-food products from Greece and the history behind the flavors of Athens.

Attica Sense, presented by the Greek embassy and the government of the Hellenic Republic Region of Attica, took place the day before the start of Saudi Horeca 2023, a three-day, annual international exhibition that aims to encourage cooperation between food, beverage and hospitality companies around the world and businesses in Saudi Arabia.

“I think there are a lot of opportunities that you will see in the days to come; there is much more we can do together,” said Alexis Konstantopoulos, the Greek ambassador to Saudi Arabia, who hosted Attica Sense at the Radisson Blu Hotel Convention Center with Giorgios Patoulis, the regional governor of Attica.

The aim of the event on Sunday was to showcase Greek products and enhance Saudi-Greek cooperation by highlighting investment opportunities in the Kingdom and the wider Middle East region.

“Our countries enjoy excellent bilateral relations; our prime minister was here twice in the past few years,” said Konstantopoulos. “His royal highness the crown prince visited Athens in July 2022 and together established the Higher Strategic Council, which has different subcommittees.”

One of those subcommittees, the ambassador added, focuses on the commercial field with the aim of encouraging businesses from the two countries to work together, so that they can benefit from the support available from Saudi and Greek authorities, and help achieve ambitious bilateral commercial targets.

Some of the Greek companies that took part in Attica Sense gave presentations about their histories, operations and products. They included: the Greek Nut Company, which was established in 1952; Leo’s House of Bagels, which in addition to Greece delivers its products to France and now Saudi Arabia; Oliva Boutique, a producer of honey and oil products; Stalia, a manufacturer of extra virgin olive oil; and Kakias Dairy, which was established in 1935.

Saudi Horeca began on Monday, the day after Attica Sense, and continues until Wednesday at the Riyadh International Convention and Exhibition Center.


Saudi foreign minister meets Latvian, Cypriot counterparts

Saudi foreign minister meets Latvian, Cypriot counterparts
Updated 27 November 2023
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Saudi foreign minister meets Latvian, Cypriot counterparts

Saudi foreign minister meets Latvian, Cypriot counterparts
  • Officials discuss need for ceasefire in Gaza, humanitarian aid efforts

RIYADH: Saudi Foreign Minister Prince Faisal bin Farhan met his Latvian counterpart, Krisjanis Karins, on Monday on the sidelines of the Union for the Mediterranean Regional Forum in Barcelona.

The officials discussed the latest developments in Gaza, international efforts to provide humanitarian and medical aid, and the need to agree a ceasefire to protect civilians and prevent the situation from worsening.

Prince Faisal stressed the need for the international community to accept moral and ethical responsibility for upholding international legitimacy, including the UN Security Council resolution issued last week, in a way that achieves peace and security and prevents extremism and violence.

The ministers also discussed issues of mutual interest, including ways to boost relations between their countries.

Prince Faisal also held similar talks with Cypriot Foreign Minister Constantinos Kombos on Monday.

Saudi Ambassador to Spain Azzam Al-Qain attended the meeting.
 


‘Eltiqa’ show builds cultural bridges between Saudi Arabia, South Korea

‘Eltiqa’ show builds cultural bridges between Saudi Arabia, South Korea
Updated 27 November 2023
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‘Eltiqa’ show builds cultural bridges between Saudi Arabia, South Korea

‘Eltiqa’ show builds cultural bridges between Saudi Arabia, South Korea
  • Three-day show in Riyadh features spectacular performances, artistic exhibition

RIYADH: Saudi Arabia and South Korea came together at the Red Hall in Princess Noura University Theater on Sunday night for a series of performances blending the two cultures.

The show, which will conclude on Nov. 28, was launched by the Saudi Royal Institute of Traditional Arts in partnership with the Korea National University of Arts.

‘Eltiqa,’ held in riyadh from nov. 26-28, was a cross-cultural artistic experience comprising 10 performances, five from each Saudi Arabia and Korea. (Supplied)

Suzan Al-Yahya, CEO of the institute, said that the show aims to promote “global cultural exchange in the Kingdom and create a meeting point between the traditional arts of various countries.”

The show, titled “Eltiqa,” features 50 artists from both the Saudi institute and South Korean university performing dances that celebrate the diversity of the two cultures and reflect a fusion of artistic sensibilities.

FASTFACTS

• ‘Eltiqa’ was launched by the Saudi Royal Institute of Traditional Arts in partnership with the Korea National University of Arts.

• It included an indoor exhibition exploring the two countries’ wooden handicrafts, textile arts, traditional art, and clay works.

The show opened with a Korean and Saudi performer meeting each other halfway across the stage and exchanging a letter, symbolizing the story of how the two nations met.

‘Eltiqa,’ held in riyadh from nov. 26-28, was a cross-cultural artistic experience comprising 10 performances, five from each Saudi Arabia and Korea. (Supplied)

This was followed by a cross-cultural artistic experience comprising 10 performances, five from each country.

The Korean performances showcased traditional royal court music and dances including the Three-Drum Dance, known in Korean as Samgomu.

It was an amazing performance, exceeding my expectations, and I felt close to the Korean audiences attending and seeing the two cultures merge.

Abdulaziz Taher, Riyadh-based artist

The last of the Korean performances included a traditional dance influenced by modern movements and musical rhythms.

‘Eltiqa,’ held in riyadh from nov. 26-28, was a cross-cultural artistic experience comprising 10 performances, five from each Saudi Arabia and Korea. (Supplied)

The five Saudi performances showcased dances from different regions of the Kingdom, reflecting the nation’s cultural diversity: Al-Samari, Al-Daha, Al-Liwa, Al-Khatwa, and Al-Khabiti.

Abdulaziz Taher, a Riyadh-based artist, said it was “hard to pick one favorite performance.”

Traditional Korean hairpins known as Binyeo are ornaments made from metal or horn. (Supplied)

He added: “It was an amazing performance, exceeding my expectations, and I felt close to the Korean audiences attending and seeing the two cultures merge.”

In between dances, a short theatrical performance depicted Saudi Arabia and South Korea coming together to overcome obstacles and celebrate their differences. It received a standing ovation from the audience.

The Hahoetal masks, showcased at Riyadh exhibition, are iconic symbols of Korean culture. (Supplied)

Raghed Al-Qahtani, a Saudi pharmacy student at Princess Nourah University, said: “The ending was the best part for me. It was beautiful seeing Saudis and Koreans taking turns and dancing to traditional Saudi and Korean music.”

The show accompanies the “Eltiqa” indoor exhibition, which explores the four elemental forces of earth, wind, fire, and water as they symbolize wooden handicrafts, textile arts, traditional art, and clay works, respectively.

An outdoor food area also offers visitors from both countries the chance to sample each other’s traditional cuisines.

King SeJong Institute, a Korean learning institute in Riyadh, participated in the show with freshly cooked kimchi-fried pancakes and kimbap, giving visitors an authentic taste of some of Korea’s best street food.

“Eltiqa” is part of the royal institute’s initiatives aimed at promoting cultural exchange in the Kingdom and preserving heritage in line with the strategic goals of Saudi Vision 2030.