Saudi Arabia Could Create Up to 124,000 Jobs in Tech Sector

      Published on Saturday, 26 October , 2019      270 Views     
Saudi Arabia Could Create Up to 124,000 Jobs in Tech Sector


A recent study estimated that Saudi Arabia‘s economy could create 124,000 jobs by 2030 through its tech activities and technology industries.



It said this will be reflected on the Kingdom’s GDP with an impact of not less than SAR15 billion ($4 billion) for the same period.

The estimates were made by a strategic study conducted by Virgin Hyperloop One (VHO) and Saudi Arabia’s King Abdullah Economic City (KAEC) to build the world’s first pathway for testing and adopting Hyperloop technology in Saudi Arabia.

It revealed plans to establish a research and development center to manufacture a facility to support the development of Hyperloop technology.

The study said that a Center of Excellence, if approved, would support the technology sector by incorporating advances in robotics and ArtificiaI Intelligence.

The VHO Center of Excellence could break ground in KAEC in 2020 and include an integrated test track,

as well as explore the feasibility of creating a manufacturing center and operating facility that would propel the Kingdom to the forefront of VHO development worldwide.

The VHO project is expected to significantly support a number of the economic and social pillars of the country’s 2030 Vision, including the expansion of transportation, the development of urban infrastructure and the growth of a technology-enabled modern economy.

According to a statement issued on Thursday, Chairman and CEO of DP World and Chairman of VHO Sultan Ahmed bin Sulayem explained that the study highlights that hyperloop is more than high-speed connectivity for passengers and cargo.

“The findings have shown a positive alignment between the project and Saudi Arabia’s ambitious national economic and social development agenda.”

“With this in mind, we are delighted to highlight this vision at the Future Investment Initiative and continue our talks with a multitude of stakeholders,” he added.

“Saudi Arabia had set out a clear strategy for economic diversification and development through its Vision 2030 reform plan,” said Ahmed Linjawy, GCEO of KAEC, adding that attracting world-class technology companies like VHO was an important indicator of momentum.



“Establishing a center of excellence will drive job creation, connect our cities and people while stimulating research and development and tech investment that will be the foundation of our future economy.

Keywords:
Category Business, Technology | 2019/10/26 latest update at 10:23 PM
Source : Aawsat | Photocredit : Google
271 Views
Comments Add comment



Gulf Media

Related Articles

The editorial staff of Saudi Arabia Today would like to give all of its readers from Gulf and Saudi Arabia and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Saudi Arabia Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.


Sponsored Publications



Saudi king hosts CIA chief Gina Haspel for talks King

Saudi king hosts CIA chief Gina Haspel for talks

Saudi Arabia’s King Salman hosted the Central Intelligence Agency’s director Thursday, state media said, after three people were…

Saudi Arabia, Palestinians Agree on Joint Business Council Events

Saudi Arabia, Palestinians Agree on Joint Business Council

Saudi Arabia and the Palestinians agreed on Thursday to establish a joint economic committee and a business council,…

Pakistani Prime Minister Imran Khan in Riyadh after Tehran visit Government

Pakistani Prime Minister Imran Khan in Riyadh after Tehran visit

Pakistani Prime Minister Imran Khan met Saudi Arabia’s King Salman on Tuesday, Saudi state media reported, two days…

What did Putin gift King Salman and Sheikh Mohamed Bin Zayed? King

What did Putin gift King Salman and Sheikh Mohamed Bin Zayed?

On his visit to Saudi Arabia and UAE this week, the Russian President brought along a rare and expensive gift…

GULF TV

Popular in GULF TV

PIRELLI “DREAMING” – THE CAL 2019 making of Full Version | Fashion Channel

2506 Views

A photographic tale of the aspirations of four women and their determination to achieve their goals, each one…

Latest videos in GULF TV

Events

Lifestyle

Culture

Sport

Science & Technology

Government