海角直播

2024 marks 海角直播鈥檚 bold leap toward technological leadership

2024 marks 海角直播鈥檚 bold leap toward technological leadership
海角直播 is poised to continue shaping the future of technology, creating growth opportunities, and enhancing the quality of life for its citizens. Shutterstock
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Updated 31 December 2024

2024 marks 海角直播鈥檚 bold leap toward technological leadership

2024 marks 海角直播鈥檚 bold leap toward technological leadership
  • Kingdom launched ALLaM, a generative AI model tailored specifically for the Arabic language
  • Technology also played a critical role during the Hajj season

RIYADH: 海角直播鈥檚 digital transformation journey reached new heights in 2024, solidifying its position as a global leader in technology and innovation.聽

Guided by Vision 2030, the Kingdom continued to reshape its economic and social landscapes through extensive digital initiatives spanning government, the private sector, and international partnerships. From advancements in artificial intelligence to significant strides in the digital economy, 海角直播鈥檚 achievements over the past year set the stage for even bolder ambitions in 2025.

Revolutionary achievements

One of the standout accomplishments of 2024 was the consolidation of government data. The creation of a centralized data lake integrated 27 large systems with over 322 systems in the National Data Bank. This initiative not only enhanced the quality of national data but also automated data-sharing processes, fostering collaboration across entities and delivering substantial cost savings.

海角直播 also launched ALLaM, a generative AI model tailored specifically for the Arabic language. Integrated into IBM鈥檚 Watsonx platform, ALLaM was recognized as the leading generative AI model for Arabic, as measured by the Arabic MMLU benchmark. This innovation underscored the Kingdom鈥檚 commitment to preserving its cultural and linguistic heritage while advancing global AI standards.

鈥満=侵辈モ檚 digital transformation initiatives, driven by Vision 2030, have created a strong foundation for the Kingdom to emerge as a global leader in technology and innovation,鈥 said Louise Bou Rached, sales director for the Middle East, North Africa, and Turkiye region at Milestone Systems, in an interview with Arab News.聽




Louise Bou Rached, Sales Director, MENAT at Milestone Systems. Supplied

She continued: 鈥淭he strategic focus on AI, IoT (Internet of Things), 5G, and cloud infrastructure is enabling the development of smart cities, digital governance, and innovative industries.鈥

Bou Rached highlighted initiatives like NEOM and The Line, which combine cutting-edge technology with sustainability to redefine urban living and attract global attention. 鈥淭his transformation is enhancing the Kingdom鈥檚 international reputation and driving economic diversification, positioning 海角直播 as a model for other nations aspiring to achieve technological leadership,鈥 she said.

A key element in this transformation has been the integration of advanced video management systems across smart city projects, improving security, efficiency, and data-driven decision making. 鈥淰MS technology ensures the seamless operation of urban environments and aligns with the Kingdom鈥檚 broader vision of fostering a secure and intelligent ecosystem,鈥 Bou Rached added.

Technology also played a critical role during the Hajj season, with advanced AI solutions ensuring the safety and well-being of millions of pilgrims. Smart platforms like Basier and Sawaher deployed over 400 AI-linked cameras across key locations, including tunnels and the Jamarat facility. These systems provided real-time crowd density analysis, enabling authorities to address emergencies efficiently. This initiative marked a significant leap in combining AI with large-scale event management.

鈥淧rojects involving smart cities, artificial intelligence, and renewable energy are shaping new industries and lifestyles in 海角直播,鈥 said Arun Leslie John, the chief market analyst at Century Financial, in an interview with Arab News. Smart cities like NEOM, he noted, are redefining urban living with intelligent systems that optimize resource management, sustainability, and citizen engagement.

鈥淎I is reshaping industries, from health care to logistics, by enabling predictive analytics, automating processes, and improving efficiency,鈥 he added. John also pointed out that the implementation of Open RAN technology is 鈥渟eriously changing the scene of the country鈥檚 telecommunications sector, offering flexible and cost-efficient network infrastructure, essential for extending 5G and upcoming 6G networks.鈥澛

鈥淐ompanies specializing in such technologies can take advantage of the emergent demand for improved telecommunication solutions,鈥 John said.




Arun Leslie John, Chief Market Analyst at Century Financial. Supplied

AI discussions

海角直播 reinforced its position as a global AI leader by hosting the third Global AI Summit, which brought together world leaders, researchers, and industry experts to discuss ethics, developments, and the future of AI. The event emphasized the Kingdom鈥檚 commitment to becoming a hub for AI innovation.

The country also launched the Open Access National Gateway, providing scientists and researchers access to more than 1,000 advanced laboratories. This initiative bolstered 海角直播鈥檚 ability to attract top talent, foster innovation, and drive scientific breakthroughs across various fields.聽

The establishment of the National Semiconductor Hub marked a significant milestone in the Kingdom鈥檚 drive for technological independence. Launched in partnership with top institutions like King Abdullah University of Science and Technology, the hub supports multiple initiatives, including a joint master鈥檚 program with the University of California and Princess Nourah University. Over 850 professionals were trained to localize semiconductor technology, further cementing 海角直播鈥檚 place in the global tech landscape.

鈥満=侵辈モ檚 investment in space exploration is about exploring the cosmos and leveraging satellite technology to advance telecommunications, agriculture, and disaster management. These advancements are driving diversification away from oil dependency, creating a high-tech economy that attracts global investments and cultivates homegrown innovation,鈥 Bou Rached noted.

海角直播鈥檚 digital transformation efforts received global recognition in 2024. The Kingdom achieved several milestones such as securing the second place among G20 countries in the ICT Development Index and sixth place globally in the UN E-Government Development Index, climbing 25 positions.

These achievements underscored 海角直播鈥檚 progress in delivering efficient, accessible, and citizen-centric digital services.

In the space sector, 海角直播 celebrated the graduation of 15 startups from the Space Tech Entrepreneurship Program, which offered financial support, training, and mentorship. This initiative attracted both domestic and international investments, highlighting the Kingdom鈥檚 growing influence in the space industry.

The Kingdom also secured over SR41 billion ($10.9 billion) in foreign and domestic investments in technology and data centers in 2024. These investments were complemented by enhancements to digital infrastructure, including efforts to localize emerging technologies and establish a thriving innovation ecosystem.

Notable initiatives included the Cloud First Policy, which prioritized cloud-based solutions across government entities and the expansion of 5G networks, positioning 海角直播 among the top 10 countries globally for mobile Internet speeds.

In March, the Kingdom unveiled an updated Digital Transformation Index, designed to elevate public sector adherence to technological advancements. The revised standards, reduced from 125 to 96, aimed to improve the quality of e-government services in line with Vision 2030. More than 233 entities participated in workshops to refine methodologies, contributing to an 85.53 percent overall progress rate in digital transformation.

鈥業nto New Worlds鈥

Scheduled for February 2025 in Riyadh, LEAP 鈥 the Kingdom鈥檚 premier tech-focused conference and exhibition 鈥 will bring together 1,000 expert speakers, 680 startups, and over 215,000 global attendees. Under the theme 鈥淚nto New Worlds,鈥 the event will explore cutting-edge technologies and their practical applications. The 2024 edition of LEAP surpassed previous ones, with agreements worth more than $12 billion being signed.

Greater achievements on the horizon

海角直播鈥檚 roadmap for 2025 builds on the transformative momentum of 2024, with ambitious plans designed to further elevate the Kingdom鈥檚 global standing in technology and innovation. In AI and data advancements, efforts will focus on increasing the number of datasets in the National Data Bank to improve accessibility and foster greater collaboration.

The adoption of AI across government entities will be further strengthened to stimulate innovation and improve service delivery. Expanding the scope of the National Smart Cities Platform will be a key priority, with an emphasis on security, safety, and sustainability, while introducing new use cases to enhance quality of life and environmental conservation.

In space exploration, 海角直播 plans to manufacture and launch a satellite dedicated to investigating space weather as part of the Artemis 2 mission to the moon. Economically, the Kingdom aims to bolster the ICT sector鈥檚 contribution to its gross domestic product by introducing two additional multibillion-dollar companies, bringing the total number of such companies to eight.

As 2025 unfolds, 海角直播 is poised to continue shaping the future of technology, creating growth opportunities, and enhancing the quality of life for its citizens. By building on its 2024 achievements, the Kingdom is well-positioned to realize its Vision 2030 goals and establish itself as a global leader in the digital era.


Closing Bell: Saudi main index slips to close at 10,714

Closing Bell: Saudi main index slips to close at 10,714
Updated 17 June 2025

Closing Bell: Saudi main index slips to close at 10,714

Closing Bell: Saudi main index slips to close at 10,714
  • Parallel market Nomu聽shed 214.39 points to close at 26,458.24
  • MSCI Tadawul Index declined by 1.14% to 1,378.44

RIYADH: 海角直播鈥檚 Tadawul All Share Index slipped on Tuesday, as it shed 153.22 points or 1.41 percent to close at 10,713.82.  

The total trading turnover of the benchmark index was SR4.97 billion ($1.32 billion), with 20 of the listed stocks advancing and 228 declining. 

海角直播鈥檚 parallel market Nomu also shed 214.39 points to close at 26,458.24. 

The MSCI Tadawul Index declined by 1.14 percent to 1,378.44. 

The best-performing stock on the main market was Saudi Research and Media Group. The company鈥檚 share price increased by 6.88 percent to SR170.80. 

The share price of SABIC Agri-Nutrients Co. advanced by 4.82 percent to SR108.80.

Zamil Industrial Investment Co. also saw its stock price climb by 4.71 percent to SR40. 

Conversely, the stock price of media giant MBC Group Co. dropped by 6.56 percent to SR33.45. 

On the announcements front, Tadawul, in a statement, said that shares of Saudi low-cost air carrier flynas will begin trading on the main market under the symbol 4264 from June 18. 

The daily and static fluctuation limits for the company鈥檚 stocks will be set at 30 percent and 10 percent, respectively, during the first three days of trading.

On June 17, Saudi National Bank announced the issuance of US dollar-denominated Tier 2 debt instruments through a special purpose vehicle, targeting qualified investors both inside and outside the Kingdom.

The financial institution added that the final issuance value and offering terms will be determined based on market conditions, according to a Tadawul statement. 

The minimum subscription value is $200,000, with a 10-year maturity period. 

The debt instruments will be listed on the London Stock Exchange鈥檚 International Securities Market. 

The share price of SNB edged up by 0.58 percent to SR34.50. 

Advance International Co. for Communication and Information Technology announced that it completed the offering and subscription of SR-denominated Murabaha sukuk valued at SR6 million. 

Murabaha sukuk is a financial instrument based on Islamic finance principles, offering an interest-free investment option. 

In a Tadawul statement, AICTEC said that the offering aims to strengthen the company鈥檚 working capital as well as support capital expansions. 

The stock price of AICTEC rose by 3.57 percent to SR2.90. 


IsDB Group partners with Turkiye to drive green industrial growth

IsDB Group partners with Turkiye to drive green industrial growth
Updated 17 June 2025

IsDB Group partners with Turkiye to drive green industrial growth

IsDB Group partners with Turkiye to drive green industrial growth
  • Initiative supports Turkiye鈥檚 2053 net-zero emissions target

JEDDAH: The Islamic Development Bank Group has partnered with Turkiye鈥檚 Ministry of Industry and Technology to advance sustainable manufacturing and infrastructure as part of a broader push to modernize the country鈥檚 industrial zones and accelerate its green transition.

The initiative supports Turkiye鈥檚 2053 net-zero emissions target and aligns with the 12th National Development Plan (2024鈥28) and the 2030 Industry and Technology Strategy.

According to the Saudi Press Agency, the project aims to cluster industrial enterprises within designated zones, reducing environmental impact and promoting climate-conscious development.

While Turkiye has committed to peak emissions by 2038 and reach net zero by 2053, independent assessments question the feasibility of this goal.

Climate Action Tracker has rated the strategy as 鈥減oor,鈥 citing a lack of ambition and transparency, and warning that the 15-year window to net zero is overly compressed.

Still, some subsectors鈥攕uch as cement, iron and steel, aluminum, and fertilizers鈥攈ave set clearer reduction targets, although they remain exceptions, CAT notes.

Walid Abdelwahab, director of the IsDB Group鈥檚 regional hub in Turkiye, described the project as 鈥渁 vital step in fulfilling the IsDB鈥檚 commitment to supporting sustainable industrial transformation, enhancing economic resilience, and promoting climate-conscious development.鈥

A multidisciplinary team from IsDB鈥檚 Jeddah headquarters and Ankara office has been working closely with various government bodies and industrial zone authorities. Discussions have focused on collecting data, identifying challenges, and shaping the project in line with national investment and climate resilience goals.

According to SPA, the initiative will also address key areas such as wastewater management, improved water use efficiency, and green infrastructure, laying the groundwork for long-term sustainable industrial growth.


Energy security is not a luxury but key to inclusive growth, says Saudi minister

Energy security is not a luxury but key to inclusive growth, says Saudi minister
Updated 17 June 2025

Energy security is not a luxury but key to inclusive growth, says Saudi minister

Energy security is not a luxury but key to inclusive growth, says Saudi minister
  • Al-Jadaan warned the absence of reliable energy access undermines critical sectors
  • He underscored the far-reaching consequences of energy poverty

RIYADH: Energy security is not a luxury but 鈥渁 fundamental pillar for achieving development and inclusive growth,鈥 said 海角直播鈥檚 Finance Minister Mohammed Al-Jadaan.  

Delivering the opening remarks at the OPEC Fund for International Development Forum 2025 in Vienna, Al-Jadaan warned that the absence of reliable energy access undermines critical sectors, including healthcare, education, productivity, and food and water systems. 

鈥淲ith rising geopolitical tensions, market volatility, and surging global energy demand, it has never been more urgent to achieve a more secure and diversified energy landscape,鈥 Al-Jadaan said. 

He added: 鈥淭his requires a strategic push to diversify energy sources, scale up investment in clean technologies, and adopt innovative financing solutions to accelerate energy access and strengthen long-term energy security.鈥 

Four-point reform plan 

Al-Jadaan outlined four policy recommendations for multilateral development banks aimed at boosting global energy resilience. He stressed the need to support all energy sources without bias and cautioned against emissions policies that exclude major energy contributors. 

He said such policies risk destabilizing markets and disproportionately impact developing economies and vulnerable populations. 

 

 

His second recommendation focused on expanding concessional financing to underserved regions. The minister praised the World Bank鈥檚 鈥淢ission 300鈥 initiative, which aims to provide energy access to 300 million people in Africa, and acknowledged the contributions of the Islamic Development Bank and the OPEC Fund. 

Al-Jadaan also commended 海角直播鈥檚 Forward7 Clean Fuel Solutions for Food initiative under the Middle East Green Initiative, which promotes clean fuel deployment globally. The program has partnered with institutions including the OPEC Fund, the World Bank, the Islamic Development Bank, and the International Islamic Trade Finance Corp. 

De-risking and innovation

Al-Jadaan鈥檚 third point emphasized the need to de-risk investments in the energy sector to encourage private sector involvement.  

He cited mechanisms such as partial risk guarantees, political risk insurance, and blended finance structures as essential tools to mitigate risks and enhance the feasibility of energy projects, particularly in low-income and high-risk countries. 

鈥淭hese tools help mitigate expected risks and enhance the bankability of energy projects, especially in low-income and high-risk countries,鈥 the minister said. 

In his final point, Al-Jadaan called for stronger investment in technologies such as carbon capture and sustainable hydrocarbon applications to reduce emissions and maintain supply during the transition to net-zero. 

He underscored the far-reaching consequences of energy poverty, including economic instability, forced migration, and increased humanitarian pressures. 

Al-Jadaan reaffirmed the Kingdom鈥檚 aim to generate 50 percent of electricity from renewables by 2030 and achieve net-zero emissions by 2060. These goals are being pursued under the Circular Carbon Economy framework. 

鈥淚n the Kingdom of 海角直播, we are working with everyone to enhance energy security and eliminate energy poverty, while continuing efforts to combat climate change,鈥 he said. 

Development crisis warning 

OPEC Fund President Abdulhamid Al-Khalifa also addressed the forum, warning of a worsening global development gap.  

He said the world is facing what the UN secretary-general has described as a 鈥渄evelopment emergency,鈥 pointing out that only 18 percent of Sustainable Development Goals have made measurable progress since their inception in 2015. 

鈥淒eveloping countries face a $4 trillion annual funding gap, worsened by rising debt servicing costs that are draining resources from essential services,鈥 Al-Khalifa said. 

To address this, he said the OPEC Fund is ramping up efforts and leveraging momentum from previous forums. Among its recent actions, the fund has joined the 鈥淢ission 300鈥 initiative to expand energy access. 

It has also deployed $1 billion as part of its food security action plan, committed an additional $2 billion to support food supply chains in partner countries, and allocated $1 billion to combat desertification under the Arab Coordination Group's $10 billion Riyadh Global Drought Resilience Partnership. 

New trade facility 

Al-Khalifa also announced the launch of the OPEC Fund Trade Facility Initiative, a program designed to mobilize billions of dollars in support through 2030. 

The facility aims to help countries secure strategic imports, address trade-related liquidity gaps, and strengthen resilience against external economic shocks. 

鈥淭his is a direct response to an urgent need, and a reflection of our commitments to stand by our partners when it matters most,鈥 he said. 

Al-Khalifa emphasized the growing strain on trade as a development cornerstone, citing disrupted supply chains, rising costs, and foreign exchange volatility that are affecting the most vulnerable communities.  

Project milestones 

In 2024, the OPEC Fund committed $2.3 billion to 70 projects across the globe 鈥 a 35 percent increase compared to the previous year. 

These projects connected 300,000 households to electricity, built over 500 km of roads, and supported 75,000 farmers and 35,000 women. 

As the Arab Coordination Group marks its 50th anniversary this year, Al-Khalifa noted the significance of this milestone, saying the OPEC Fund is honored to stand alongside other member institutions in celebrating five decades of collaborative development efforts. 

鈥淲e know from experience, when partners align their resources, expertise, and approaches, the results are transformative,鈥 he said. 

Both Al-Jadaan and Al-Khalifa stressed that global cooperation and innovation are critical to overcoming current challenges and advancing toward a future of inclusive and sustainable development. 


海角直播, Panama sign air transport agreement to strengthen global connectivity

海角直播, Panama sign air transport agreement to strengthen global connectivity
Updated 17 June 2025

海角直播, Panama sign air transport agreement to strengthen global connectivity

海角直播, Panama sign air transport agreement to strengthen global connectivity
  • Deal signed during 55th edition of Paris Air Show
  • It reflects Kingdom鈥檚 broader efforts to expand its global aviation footprint

RIYADH: 海角直播 and Panama have signed a bilateral air services agreement to enhance air connectivity between the two countries and expand access to global aviation markets.

The deal was signed during the 55th edition of the Paris Air Show by Abdulaziz Al-Duailej, president of the General Authority of Civil Aviation, and establishes a regulatory framework for safe, efficient, and fair air services, according to the Saudi Press Agency.

The new agreement complements the 1944 Chicago Convention on International Civil Aviation, the legal foundation for global air travel. It includes provisions on traffic rights, airline designation, and licensing, as well as the enforcement of international safety and security standards.

It is also designed to promote fair competition and support the long-term commercial interests of national carriers in both countries.

The deal aims to serve the common economic interests of national carriers and enhance their participation in the air transport market by applying modern market-entry models and supporting all forms of air traffic, SPA reported.

It reflects the Kingdom鈥檚 broader efforts to expand its global aviation footprint in line with Vision 2030. As part of its National Aviation Strategy, the country is building international partnerships, strengthening regulatory frameworks, and increasing air connectivity to link to 250 global destinations and transport 330 million passengers annually by 2030.

鈥淭he organization鈥檚 participation aims to highlight the role of the civil aviation sector in the Kingdom as an important driver of the national economy, the promising investment opportunities it offers, and to learn more about the latest innovative global technologies in the sector,鈥 the report added.

海角直播, represented by GACA, concluded its participation at the Paris Air Show with a wider range of strategic announcements aimed at bolstering its aviation sector. Key outcomes included a memorandum of understanding with Airbus on environmental sustainability and aviation safety, a leasing deal for 77 new aircraft by Avilease, and Riyadh Air鈥檚 order for 50 Airbus A350-1000 jets, increasing its future fleet to 182 aircraft in line with Vision 2030鈥檚 goal of positioning Riyadh as a global air hub.

The Saudi delegation was led by Saleh Al-Jasser, minister of transport and logistic services and chairman of GACA, accompanied by GACA president and senior executives from across the Kingdom鈥檚 aviation ecosystem. Their participation focused on strengthening partnerships with leading aerospace companies, attracting investment into the Saudi aviation sector, and advancing bilateral cooperation.

During the show, Al-Jasser and the delegation toured various pavilions showcasing innovations in advanced air mobility, aerospace, sustainability, and smart manufacturing.

They observed emerging solutions featuring high levels of automation and digitization across both commercial and military aircraft.

In addition to the MoU with Airbus, the show saw key commercial signings. Avilease, a Public Investment Fund-owned leasing firm, agreed to purchase 77 new-generation aircraft, including A350 freighters and A320 narrow-body jets. Riyadh Air confirmed an order for 50 A350-1000 aircraft, part of its plan to turn Riyadh into a global aviation hub.

A separate agreement was signed between Cluster 2 Airports Co. and Airbus to explore collaboration opportunities in training, development, and investment.

Al-Duailej also met with several global aviation leaders, including Damien Caze, director general of the French Civil Aviation Authority; Arjan Meijer, CEO of Embraer; and Bahrain鈥檚 Minister of Transportation and Telecommunications Sheikh Abdulla Al-Khalifa, to discuss regional cooperation.

The Kingdom鈥檚 presence at the Paris Air Show underscored its commitment to civil aviation as a driver of economic growth, innovation, and international connectivity. The event is one of the world鈥檚 most prominent in the aerospace industry, attracting thousands of participants and showcasing the latest in aviation, defense, and space technologies.


SIC, Investindustrial forge alliance to drive Saudi industrial expansion鈥

SIC, Investindustrial forge alliance to drive Saudi industrial expansion鈥
Updated 17 June 2025

SIC, Investindustrial forge alliance to drive Saudi industrial expansion鈥

SIC, Investindustrial forge alliance to drive Saudi industrial expansion鈥
  • Deal aims to catalyze new industrial investments in the Kingdom

RIYADH: SIDF Investment Co., the financial arm of the Saudi Industrial Development Fund, has entered into a strategic partnership with European private equity firm Investindustrial, marking its first international private equity commitment.

The agreement is aimed at catalyzing new industrial investments in the Kingdom by localizing advanced manufacturing and integrating Saudi small and medium-sized enterprises into Investindustrial鈥檚 global value chains.

The partnership is a significant milestone for SIC as it broadens its international engagement and supports 海角直播鈥檚 Vision 2030 objectives. These include attracting institutional capital, localizing industrial expertise, and contributing to the National Industrial Strategy, which targets increasing the number of factories to 36,000 by 2035.

The announcement follows a previous agreement in March between SIC and Ashmore Investment 海角直播 to launch a private closed-end industrial fund. The SR400 million ($106.6 million) initiative 鈥 the first of its kind in the Kingdom 鈥 is managed by a global asset manager and aims to support a wide array of industrial assets. That move laid the foundation for SIC鈥檚 private equity strategy to stimulate domestic investment and expand global partnerships.

鈥淭his agreement represents a new chapter for SIC,鈥 said Fahad Al-Naeem, CEO of SIC. 鈥淏y partnering with Investindustrial, we鈥檙e bridging global reach, operational depth, and industry specialization into our ecosystem, positioning 海角直播 as the platform for regional and international manufacturing growth.鈥

The targeted sectors include machinery and equipment, automation, medical devices, and sustainable consumer products, with an emphasis on local value creation and industrial innovation.

This move comes as the Kingdom ramps up efforts to strengthen its industrial base and draw international investment into strategic sectors. In April, 海角直播鈥檚 Industrial Production Index rose 3.1 percent year on year, led by gains in manufacturing and mining. Manufacturing activity alone climbed 7.4 percent annually, with a 0.5 percent uptick month on month.

Adding to this momentum, the government launched the Standard Incentives for the Industrial Sector program in May, offering up to 35 percent financing on initial capital expenditure per project, capped at SR50 million. The initiative supports facility development and operations over a seven-year term.

鈥淪IC will utilize its local market expertise to pave the way for global manufacturers to establish a footprint in 海角直播 and connect with international supply chains, benefiting from the Kingdom鈥檚 competitive position,鈥 Al-Naeem added.

Investindustrial, which has raised 鈧17 billion and operates across eight global offices, focuses on mid-market companies with a mission to drive sustainable value creation and support global expansion.

鈥淭he Kingdom of 海角直播 has emerged as a key strategic growth region for Investindustrial鈥檚 portfolio companies,鈥 said Andrea Bonomi, chairman of Investindustrial.
鈥淢any of our investments align closely with the goals of 海角直播鈥檚 Vision 2030, fostering strong and natural synergies for long-term value creation,鈥 Bonomi added.

The signing ceremony was attended by Prince Sultan bin Khaled, vice chairman of SIC, and Italy鈥檚 Ambassador to 海角直播, Carlo Baldocci, reflecting the high-level support backing the agreement.

The deal further advances SIC鈥檚 role as a gateway for institutional-grade industrial investment into 海角直播, reinforcing its mandate to help build a globally competitive and resilient manufacturing sector.