Saudi and Finland Collaborate To Propel Digital Economy


Saudi Arabia and Finland's digital economy sectors will provide new possibilities and spur innovation, with both countries intending to build opportunities and drive innovation. Both countries agreed to broaden the scope of the Internet of Things, cloud computing, and wireless network technology. The agreement was signed at the ministry's headquarters in Riyadh by Saudi Communications and Information Technology Minister Abdullah Al-Sawah and Finnish Foreign Trade and Development Minister Phil Tavio. 

The memorandum of understanding will also harness capabilities required to facilitate the digital transformation of the governments, said SPA.Additionally, the MoU will work toward devising joint programs, including capacity building and research projects. The programs will also feature joint research projects on technology forecasting and promoting the private sector’s participation between the Kingdom and Finland, as per arab news

In August, officials from the Federation of Saudi Chambers and the Finnish Chamber of Commerce formed Business Finland, a joint council. 

“With Vision 2030 now and this massive transformation, which is happening in the country, we believe these unlocked new areas of potential collaboration between the two countries and Finland can be an excellent partner to the Kingdom to achieve the Vision 2030 goals and objectives,” Nabil Mohamed, senior adviser of Business Finland added.

Mohamed and his colleague, Business Finland senior consultant Mudar Al-Ani, emphasized their goal of expanding finish enterprises in Saudi Arabia in areas such as digital transformation.  

“We are looking to see more Finish companies present here (Saudi Arabia) in the market and also more Saudi companies in Finland,” Mohamed said. 

Current Issue