STC CEO stresses on investment in digital infrastructure for economic transformation

STC Group CEO Khaled Biyari

STC Group CEO Khaled Biyari said the region is brimming with young people who are creative and capable of contributing to the positive transformation of the region’s economies when given the right environment.
Biyari was speaking at the opening session of the “Building Digital Economies in the Arab World” forum titled “The Digital Arab World, the Most Important Challenges and Opportunities” organized by the World Economic Forum (WEF) in the UAE.
He said both the government and the private sector in the Kingdom are focused on business incubators and the rapid development of the digital economy through young leaders, contrary to the prevailing view that the region is not attractive enough for talents and creators.
Biyari, who is a member of the Regional Business Council (RBC), said digital transformation provides many opportunities to speed up the region’s economies to cope with global transformation. This, he said, would help governments and companies to efficiently work hand in hand, and provide growth opportunities, which in turn would reduce dependence on natural resources.
He said investment in digital infrastructure such as advanced networks, data centers and platforms is important, given the large number of projects currently underway in the Kingdom.
Arab leaders from the public and private sectors who participated in the forum called for accelerating the shift in economic strategies in Arab countries in line with the digital and technical transformations taking place in the world’s economies. They pointed out that the leaders of public and private sectors are required to adopt new methodologies in education and economy to create an economic system that is suitable for the fourth industrial revolution, especially through investment in technology and digital infrastructure.