Saudi to transform telecoms sector
Cabinet approves plan to boost the country's telecom and IT industries.
Saudi Arabia’s Council of Ministers has approved a plan to develop the country’s telecom and information technology sectors Arab News reports.
The council of ministers said the move would transform the Kingdom into a knowledge-based society and digital economy, and create a major source of income.
Some plans are already underway for the development of the sector. Saudi Arabia’s first Knowledge Economic City is under construction in Madinah. KEC will have a technological and economic information centre, campus for medical research and biosciences and a centre for studies in Islamic civilization. The project is expected to attract investments worth more than $6.7 billion and create 25,000 new jobs.
KEC will also include a retail zone, business district and residential areas and a 10,000 capacity mosque.