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  • Saudi-Greek Investment Forum Sees $3.7bn Deals On Energy, Economy And Technology

    Along with 21 investment agreements, Saudi Arabia and Greece also signed a deal to promote digital transformation and innovation in the fields of energy, including cybersecurity, while working to develop qualitative partnerships to localize materials, products and services related to all energy sectors and their associated supply chains and technologies.

  • Saudi-Greek Investment Forum Sees $3.7bn Deals On Energy, Economy And Technology

    During the investment forum, Saudi Arabia signed an agreement with Greece to extend a submarine cable to help the Kingdom become a “major player” in the digital economy, Saudi Minister of Communications Abdullah Al-Sawaha told Al-Sharq. “We seek for Saudi Arabia to be a magnet for cloud computing and building a new economy based on artificial intelligence,” Al-Sawaha said.

  • Impact of Technology Investment on the Economic Growth: the case of Saudi Arabia

    In order to ensure a realistic overview of the impact, the model runs for 31 years, with 1997 as the benchmark. This time span allows for the complete effect of introducing the technology progress into the economy. The results of the dynamic simulations, which cover the 13 years show that, overall, the economy does better when there is technology progress.

  • Saudi Arabia announces $6.4 billion investments in future tech

    Saudi Arabia has launched investments worth $6.4 billion in future technologies, the Saudi minister of communication and information technology said on Tuesday, as the kingdom races to diversify its economy from oil in the face of fierce regional competition. Wealthy Gulf countries have launched initiatives to boost non-oil growth and reduce dependence on crude oil as climate change campaigners and volatility in oil prices have put pressure on government finances.

  • Saudi Arabia announces $6.4 billion investments in future tech

    Saudi Arabia has launched investments worth $6.4 billion in future technologies, the Saudi minister of communication and information technology said on Tuesday, as the kingdom races to diversify its economy from oil in the face of fierce regional competition. Wealthy Gulf countries have launched initiatives to boost non-oil growth and reduce dependence on crude oil as climate change campaigners and volatility in oil prices have put pressure on government finances.

  • Public Investment Fund Grows, Bets Big on Tech

    The PIF signaled a serious interest in global technology investments with its massive $45 billion commitment to the SoftBank Vision Fund, the world’s largest technology investment fund, in 2018. A more modest $1.3 billion investment in Lucid Motors by the PIF in 2018 was nevertheless worth $41 billion after three years, owing to a successful initial public offering by the electric vehicle maker. The Saudi fund’s strategy for 2021-25 reaffirms the significance of local and international technology firms in its investment portfolio.

  • Where are the biggest investments in climate tech?

    Between 2016 and September 2021, venture capital investment into climate tech companies in the US surpassed $48 billion, according to a new report released today (Oct. 26) by not-for-profit London & Partners and Dealroom.co, a data provider on startups. China was a distant second, with VCs spending $18.6 billion.

  • Saudi Arabia’s Digital Technology Forum highlights investment opportunities in the Kingdom

    The IT and ET market segment size is predicted to grow at a rate of 10% CAGR, surpassing $27 billion by 2025. Similarly, the IoT market size is expected to grow at a rate of 26% CAGR by 2025.

  • SoftBank Vision Fund accelerating hi-tech investment, globally and in Saudi Arabia, says CEO

    “In Fund 1 we have 85 portfolio companies. In Fund 2 we have 70 or 80 companies. We take minority stakes in those companies. We don’t run those companies. We sit on the boards. We do keep an eye on them but we don’t day-to-day run those companies. “But we did make some mistakes and we learnt from it. Since then, we have undergone a major turnaround and now we make sure there are no conflicts of interest with the founder.”

  • Saudi-based sustainable AgTech firm Red Sea Farms, a salt-water growing specialist, receives $10m investment

    Red Sea Farms was established in 2018 with a vision to reduce food insecurity, carbon and freshwater use in the global and Gulf food sectors. The company’s unique, end-to-end growing system primarily uses saltwater, cutting fresh-water consumption by 85 to 90 percent. Through a patented system of new, more efficient solar and growth monitoring technologies, saltwater replaces freshwater typically used to cool greenhouses and irrigate crops.