Saudi Arabia plans to establish two billion dollar companies by the end of 2025 as part of its efforts to drive the development of its communication and information technology industry. These new technology companies are one of a series of measures proposed in the budget report of the Ministry of Finance, which also includes a plan to launch a Saudi satellite for space weather research under the Artemis 2 mission.  

The budget report also shows that 42 billion Saudi riyals (11.2 billion US dollars) will be allocated for the infrastructure and transportation sectors by 2025. The main functions of this industry include the development of roads, ports, airports, and real estate. It also covers communication, information technology, data and artificial intelligence, as well as digital government. In addition, it is responsible for regulating postal services, space programs, and industrial cities.

Digital and Infrastructure Development

The government will strengthen data management by promoting national data indices, encouraging responsible adoption of artificial intelligence, and expanding national databases. The smart city plan that focuses on safety and sustainability is also given priority attention. In terms of transportation, the planned development includes issuing new air transport licenses for Dammam Airlines and Riyadh Airlines, expanding public transportation services, and establishing six new logistics zones in Saudi ports. These efforts are in line with the Kingdom of Saudi Arabia's "Vision 2030" strategy, which aims to create a modern, efficient, and innovation driven economy.Editor/XuNing