ICT as a Direction for Diversifying the Economy of Saudi Arabia

The article examines one of the main directions of the implementation of a large-scale program of economic reforms in Saudi Arabia (Saudi Vision-2030), aimed at ridding the Kingdom’s economy of an alarming dependence on oil export revenues – the digital transformation of society, governing structure...

Descripción completa

Guardado en:
Detalles Bibliográficos
Autor principal: A. A. Rogozhin
Formato: article
Lenguaje:EN
RU
Publicado: Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”) 2021
Materias:
5g
Acceso en línea:https://doaj.org/article/ef472b52ef744c538da41908020bea48
Etiquetas: Agregar Etiqueta
Sin Etiquetas, Sea el primero en etiquetar este registro!
id oai:doaj.org-article:ef472b52ef744c538da41908020bea48
record_format dspace
spelling oai:doaj.org-article:ef472b52ef744c538da41908020bea482021-11-07T14:45:05ZICT as a Direction for Diversifying the Economy of Saudi Arabia2542-02402587-932410.23932/2542-0240-2021-14-4-8https://doaj.org/article/ef472b52ef744c538da41908020bea482021-08-01T00:00:00Zhttps://www.ogt-journal.com/jour/article/view/831https://doaj.org/toc/2542-0240https://doaj.org/toc/2587-9324The article examines one of the main directions of the implementation of a large-scale program of economic reforms in Saudi Arabia (Saudi Vision-2030), aimed at ridding the Kingdom’s economy of an alarming dependence on oil export revenues – the digital transformation of society, governing structures, and the economy as a whole. In the past few years, the information and communication technology (ICT) sector, which has become the largest in the Middle East, is increasingly visible not only in this region. Its development is particularly dynamic due to large investments in the latest technologies. The success of the ICT sector was also facilitated by the creation of new supervisory bodies and the improvement of the regulatory framework for various areas of digitalization. The country’s leadership aims to make Saudi Arabia one of the world’s leading countries in the field of ICT by building a digital economy based on the principles of the Fourth Industrial Revolutionanddigitalgovernanceofsociety. The five-year digital development strategy (2019–2023) provides for the growth of the ICT sector by 50% and an increase in the rate of “Saudization” of this sector to 50% by 2023. This strategy is expected to increase the contribution of the ICT sector to the economy by at least $13.3 billion. Assessing the prospects for the development of digitalization in Saudi Arabia, the author found four factors that make it possible to assess them as very favorable – sufficient funding, acceleration of the privatization process, the impact of the COVID-19 pandemic, and the inevitability of the diversification of the national economy, which is impossible without digitalization.A. A. RogozhinАссоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)articlesaudi arabiaeconomic reforms«vision-2030»diversification of economic activitydigitalizationinstitutional dimensionlegal instrumentsmobile communicationinternet access5ge-moneycybersecuritye-governmentartificial intelligencee-tradeInternational relationsJZ2-6530ENRUКонтуры глобальных трансформаций: политика, экономика, право, Vol 14, Iss 4, Pp 122-141 (2021)
institution DOAJ
collection DOAJ
language EN
RU
topic saudi arabia
economic reforms
«vision-2030»
diversification of economic activity
digitalization
institutional dimension
legal instruments
mobile communication
internet access
5g
e-money
cybersecurity
e-government
artificial intelligence
e-trade
International relations
JZ2-6530
spellingShingle saudi arabia
economic reforms
«vision-2030»
diversification of economic activity
digitalization
institutional dimension
legal instruments
mobile communication
internet access
5g
e-money
cybersecurity
e-government
artificial intelligence
e-trade
International relations
JZ2-6530
A. A. Rogozhin
ICT as a Direction for Diversifying the Economy of Saudi Arabia
description The article examines one of the main directions of the implementation of a large-scale program of economic reforms in Saudi Arabia (Saudi Vision-2030), aimed at ridding the Kingdom’s economy of an alarming dependence on oil export revenues – the digital transformation of society, governing structures, and the economy as a whole. In the past few years, the information and communication technology (ICT) sector, which has become the largest in the Middle East, is increasingly visible not only in this region. Its development is particularly dynamic due to large investments in the latest technologies. The success of the ICT sector was also facilitated by the creation of new supervisory bodies and the improvement of the regulatory framework for various areas of digitalization. The country’s leadership aims to make Saudi Arabia one of the world’s leading countries in the field of ICT by building a digital economy based on the principles of the Fourth Industrial Revolutionanddigitalgovernanceofsociety. The five-year digital development strategy (2019–2023) provides for the growth of the ICT sector by 50% and an increase in the rate of “Saudization” of this sector to 50% by 2023. This strategy is expected to increase the contribution of the ICT sector to the economy by at least $13.3 billion. Assessing the prospects for the development of digitalization in Saudi Arabia, the author found four factors that make it possible to assess them as very favorable – sufficient funding, acceleration of the privatization process, the impact of the COVID-19 pandemic, and the inevitability of the diversification of the national economy, which is impossible without digitalization.
format article
author A. A. Rogozhin
author_facet A. A. Rogozhin
author_sort A. A. Rogozhin
title ICT as a Direction for Diversifying the Economy of Saudi Arabia
title_short ICT as a Direction for Diversifying the Economy of Saudi Arabia
title_full ICT as a Direction for Diversifying the Economy of Saudi Arabia
title_fullStr ICT as a Direction for Diversifying the Economy of Saudi Arabia
title_full_unstemmed ICT as a Direction for Diversifying the Economy of Saudi Arabia
title_sort ict as a direction for diversifying the economy of saudi arabia
publisher Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)
publishDate 2021
url https://doaj.org/article/ef472b52ef744c538da41908020bea48
work_keys_str_mv AT aarogozhin ictasadirectionfordiversifyingtheeconomyofsaudiarabia
_version_ 1718443324825665536