???? | 2024 Saudi Arabia Technology Policy Year in Review
Tahseen Consulting
We're a small team working on big things at the intersection of policy, development, and technology.
Tahseen Consulting revisited #SaudiArabia’s interesting #digitaleconomy policies, trends, and notable headlines from 2024. Here are our picks for the biggest #techpolicy developments:
JANUARY?
? Registered #ecommerce firms ▲ 24%
? Public Investment Fund (PIF) to establish #space company as the #GCC space race ??
? #Fooddelivery regulations overhauled
FEBRUARY
? Public Investment Fund (#PIF) launches #Alat to drive #techmanufacturing
? General Entertainment Authority - GEA launches #Arabic content fund
? 70% of the Public Investment Fund’s assets are now domestic
MARCH
? Digital economy ▲ 10% to $122B since Saudi Vision 2030 in 2016
? SDAIA | ????? unveils draft #DataSovereignty Policy
? $40B #AI fund announced
? FDI ▲ 2x+, driven by Chinese investment
APRIL
? #Ecommerce sales via mada | ??? cards hit $3.8B, ▲ 25% YoY
? #Epayments now 70% of retail transactions
? stc pay transforms into STC Bank after Saudi Central Bank – SAMA approval
? BlackRock expands presence to tap ▲ investment
MAY
? $2.5B committed to Middle East Green Initiative
? Ant International inks MoU with the Ministry of Investment for expansion
? Public Investment Fund (PIF) raises stake in 阿里巴巴集团 by 11%
JUNE?
? #Startups, #SMEs get 3-year commerce fees exemption
? Public Investment Fund (PIF)-backed Jadwa Investment launches #consumer growth fund
JULY
?? 12-year deal to host the #Esports #Olympics signed
? $12B+ raised from Aramco stake sale
? SDAIA | ????? launches #sustainable #datacenter project
? Space mission center will ▼ mission preparation 75%, costs by 50%
? Retirement age ▲ to 65
AUGUST
? 甲骨文 launches 2nd public #cloud region in $1.5B investment
? Lucid Motors gets $1.5B funding boost from Public Investment Fund (PIF)
领英推荐
? Visa partners with Saudi Tourism Authority | ?????? ???????? ??????? on Tourism Data Lab
? ?????? ?????? ????? | Roads General Authority develops #AV road code
? 184 companies established regional #HQs in H1
SEPTEMBER?
? General Entertainment Authority eyes $1B+ valuation, listing for webook.com We're All About Fun
? SDAIA | ????? issues Data Transfer amendments
? #OpenBanking payment initiation provisions released
? PIF transfers gaming holdings - like Nintendo - to Savvy Games Group
OCTOBER
? #Ecommerce sales to hit $70B in 2025 – Commerce Minister
? #Robotaxis could launch by 2027 – TASARU Mobility Investments
? Sanofi , National Unified Procurement Company "NUPCO" to establish insulin facility, share tech
? New #fooddelivery rules require municipal, vehicle licensing
? USB-C mandatory for mobiles starting in 2025
NOVEMBER
? Public Investment Fund acquires 54% of MBC GROUP for ~$2B
? Public transport use surges, bus use ▲176% YoY, train ▲ 33%
? Saudi Central Bank – #SAMA issues #ewallet rules
? R&D spending ▲ to $6B, up 17%+ YoY
? World’s biggest green hydrogen plant to launch in 2026
DECEMBER
? #IPO market tops GCC, $2.6B+ raised
? ???? awarded 2034 #WorldCup by FIFA
? PIF tells some portfolio companies to cut 2025 budgets
? PIF acquires a 15% stake in loss-making Heathrow airport
? #BRICS membership paused
In case you missed it, here are all of our 2024 year-end wrap ups …
???? | UAE ? https://www.dhirubhai.net/pulse/2024-united-arab-emirates-technology-policy-year-review-ncdhf
???? | Saudi Arabia ? https://www.dhirubhai.net/pulse/2024-saudi-arabia-technology-policy-year-review-tahseen-consulting-hsqhf
???? | Egypt ? https://www.dhirubhai.net/pulse/2024-egypt-technology-policy-year-review-tahseen-consulting-9k3yf/
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