Jul 10 2010 |
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Saudi Arabia ranks 40th in IT sector worldwide
Saudi Arabia is ranked 40th in the IT sector worldwide and fifth in the Arab world, according to a study conducted recently in Riyadh, reports Khaleej Times.The study issued by Riyadh Chamber of Commerce and Industry said the north of the capital had 55 per cent of IT installations, while the city's downtown had about 33 per cent, amounting to SR100,000. The study recommended the establishment of a fund to support the IT industry.
According to another report released last month Saudi Arabia has the biggest IT market in the Gulf, with a forecast value of $ 3.3 billion in 2010 expected to rise to $4.6bn by 2014.
In August 2009 the Saudi Council of Ministers approved the establishment of a new joint stock company called Saudi Electronic Information Exchange Company (Tabadul).
Meanwhile, a report released in July 2009 by Arab Advisers' Group ranked Saudi Arabia first among Arab countries for e-commerce growth.
This report valued e-commerce transactions in Saudi Arabia at SR12b with 14.26 percent of the population engaging in such transactions.
The report identified government support as key factor behind the growth.
© Bahrain Tribune 2010
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