According to the Ministry of Communications and Information Technology (MCIT), the new Saudi ICT law has been approved by the Cabinet.
Targeting to consolidate the Kingdom's position as a regional center for technology and innovation and achieve global leadership, the new Saudi ICT law will help accelerate the growth of the digital economy and qualitative markets such as digital content and emerging technologies, worth SAR 11 billion, and cloud computing, worth SAR 10 billion.
Furthermore, the newly introduced law will help increase the flexibility of digital infrastructure as a backbone of digital transformation; improve the demand, experience, and quality of national services and products; and provide an attractive environment for IT investment.
The new Saudi ICT law will also create 318,000 jobs and boost technology adoption for a digital society with an innovative future as it promotes clarity and transparency of procedures as well as frequency spectrum regulations.
The economic impact represented in expanding the ICT market, which size is estimated at SR144 billion — the largest in the Middle East and North Africa (MENA) region — is well considered for the new Saudi ICT law.