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FINANCIAL NEWS
Saudi investment in ICT to climb to USD13.33b: Minister
17 May 2011
(MENAFN) Saudi Minister of Economy and Planning, Khaled Al-Gosaibi, stated that he estimated the Kingdom’s investment in the sector of Information and Communication Technologies (ICT) to reach USD13.33 billion during the coming 4 years, reported Saudi Gazette.
Al-Gosaibi also said that the plan is for the total investment in the sector to reach USD9.9 billion in 2013, which would support the expected future growth.
The Minister added that the Kingdom’s investment in the ICT sector reached USD5.94 billion in 2009, and saw a growth rate of 18.5 percent between 2001 and 2009.
It is worth noting that Saudi is the largest region for ICT market as Al-Gosaibi stated, and its Gitex Information Technology Exhibition 2011 is host to 400 exhibitors from 16 countries.
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