Future Investment Initiative Reviews Global Technology Policy

Thursday 1442/6/15 - 2021/01/28
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Riyadh, January 27, 2021, SPA -- Minister of Communications and Information Technology, Eng. Abdullah Al-Swaha, said that the Kingdom of Saudi Arabia has ranked 7th in the world in terms of the speed and quality of the Internet, and the quality of 5G coverage. He pointed out that the "THE LINE" project in NEOM that was announced by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense, will exceed 150 years of the industrial revolution for the sake of individuals. He confirmed that this special model for renewable energy will have zero emissions, in addition to innovations in the field of gas and oil by exploiting data to improve cost optimization.
This came during his participation in the session entitled "Cracking the code: What is the future of global technology policy?", within the sessions of the 4th edition of the Future Investment Initiative, with the participation of President and CEO of Saudi Aramco, Eng. Amin Nasser and the Executive Chairman of the Raytheon Technologies Board of Directors, Dr. Thomas A. Kennedy.
Eng. Al-Swaha pointed out that there are many fluctuations, ambiguity and complexity in the future, and that the future will be for those who have resilience, flexibility and resistance. He affirmed the importance of investment and innovation in the field of digitization, indicating that the digitization in 2020 showed that it is not the largest multiplying economy for the continuous social and economic balance, especially on environment preservation.
He said that the transition now is not only to be the pioneer of thermal energy in the world, but also in renewable and sustainable energy, as investments worth SAR 5 billion in hydrogen were announced.
For his part, President and CEO of Saudi Aramco, Eng. Amin Nasser, indicated that Aramco has benefited from the acceleration of technology in discovery, recovery and maximizing the benefit from cost, efficiency and reliability as well as in carbon emissions.
"we have an advanced level of digitization and we move our various tools using satellites from our center in Dhahran. We care about our equipment and our reliability, and our reliability is at the highest levels for 2020 which represent 99%", Eng. Amin Nasser said.
--SPA
03:58 LOCAL TIME 00:58 GMT
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