RIYADH — The 21st annual meeting of the Saudi Economic Association (SEA) kicked off on Monday under the theme “Digital Economy”. The meeting is held under the aegis of Minister of Communications and Information Technology Eng. Abdullah Al-Swaha at the Saudi Press Agency (SPA) headquarters in Riyadh. Saudi Aramco and Saudi Basic Industries Corporation (SABIC) are supporting the event.

SEA Chairperson Dr. Nourah bint Abdulrahman Al-Yousef, in her opening speech, stressed that holding the annual meeting under the patronage of the Minister of Communications and Information Technology, who is among the young leaders who crowned their efforts in the prosperity and growth of the digital transformation in our age, played the main role in the development of investment and realizing the highest standards of economic growth at the local and international levels.

She said we live at a time full of speedy developments and changes in all walks of life, mainly what we live today of a cognitive boom for modern technologies, especially in the economic field.

Dr. Al-Yousef noted that the novel coronavirus pandemic (Covid-19) has changed the world’s view on technology and its use as an alternative to the traditional means in several transactions, which directly reflects on increasing demand on technological applications and services. The payment methods and conventional procedures are replaced with quick technological means that meet demand and provide confidence among users, which reflected on expanding services for various categories and beneficiaries.

The chairperson stressed that in light of the Saudi Vision 2030 that supported and expedited the development of the necessary infrastructure, and preparing Saudi Arabia’s environment for the public, private and non-profit sectors in the National Transformation Program, there are several achievements and initiatives related to digital projects that were realized by various sectors in the fields of health, education and security, among others.

She explained that among important points in the association is connecting its targets and events with the Saudi Vision 2030, where SEA pledged commitment, since announcing the vision, to be a connecting point between the existing movement in the public and private sectors and issued decisions and their impacts on the welfare of citizens so that they can see the impacts of the vision and its influence on the economy and society.

She noted that such procedures lead to having the citizen as a partner in the vision and part of it. In this respect, the association was honored to host several ministers, governors of commissions and senior officials in the public and private sectors, she added.

The one-day meeting included discussions on several aspects and subjects that will review the role of digital transformation in the growth and prosperity of the economy.

The sessions will be held in the presence of Acting SPA President Dr. Fahd Al Aqran and several officials at the Ministry of Communications and Information Technology, Ministry of Finance, Ministry of Industry and Mineral Resources, Communications and Information Technology Commission, Digital Government Authority, and the elite of academia and specialists in the economy field.

The meeting aims at focusing on digital economy research papers as an element that was emphasized at the National Transformation Program and the Saudi Vision 2030 out of the fact that the innovative digital technologies have resulted in immense economic opportunities that can realize welfare for the society, and, at the same time, the many challenges that need thoughtful consideration.

The meeting sought to highlight the concept of digital economy and solutions suggested to face the digitization challenges, such as building a local and international legal environment, in addition to highlighting the new digital transformations in the private sector, discussing contents of the sustainable development goals related to digital transformation, and issues related to commercial exchange and relevant investment with the participation of specialists and experts in the field from inside and outside Saudi Arabia. — SPA