Igniting innovation to spur Saudi Arabia’s economic growth
- Date: 22-Sep-2020
- Source: Wamda
- Sector:Technology
- Country:Saudi Arabia
Igniting innovation to spur Saudi Arabia’s economic growth
BIAC, a subsidiary of the Saudi Technology Development and Investment Company (TAQNIA), wholly owned by the Public Investment Fund (PIF), recently announced a new operating model in its business functions. Nawaf Al-Sahhaf, the chief executive officer of BIAC outlines these new developments.
Saudi Vision 2030 supports and promotes innovation. The Kingdom is fostering a sound environment conducive to stimulating entrepreneurship and creativity to enhance its impact and competitiveness in the dynamic global landscape.
Digital transformation is the central pivot of the Vision 2030, encouraging the public and private sectors to work faster to keep up with such change and boost SME contribution to gross domestic product (GDP) from 20 per cent to 35 per cent, localise edge technology and knowledge, and ensure the Kingdom is in the top 10 countries on the
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