Saudi Arabia Ranks 2nd Among G20 in ITU's ICT Regulatory Tracker Index
Saudi Arabia has achieved a significant milestone by ranking second among G20 countries in the 2024 ICT Regulatory Tracker issued by the International Telecommunication Union (ITU), a specialized agency of the United Nations.
This accomplishment reflects the Kingdom's substantial progress in the field of telecommunications and digital regulation. It highlights Saudi Arabia's commitment to regulatory innovation, the development of advanced digital infrastructure, and the implementation of effective market oversight. The result also underscores the Kingdom's dedication to fostering a regulatory environment that attracts investment and drives digital economic growth, reinforcing its standing as a global leader in regulatory excellence.
The ICT Regulatory Tracker is designed to support policymakers and regulators in navigating the rapidly evolving ICT sector. It evaluates the maturity of ICT regulatory frameworks in 194 countries, using 50 indicators grouped into four key pillars: regulatory authority, regulatory mandates, regulatory regime, and competition framework.
This recognition adds to a growing list of international achievements by Saudi Arabia in the telecom and technology sectors. The Kingdom has consistently maintained top-tier rankings, including second place among G20 nations in both the ICT Development Index for two consecutive years and the UN's Telecommunications Infrastructure Index (TII).
Related Topics :
Saudi Finance Minister Leads Delegation at G20 FMCBG Meeting in South Africa
Saudi Arabia Participates at G20 Trade and Investment Ministerial Meeting in Brazil
3.9 BILLION PEOPLE ARE USING THE INTERNET
Eastern Region Waterfronts: Top Ramadan Spots Offering Serene Spiritual Experience
Short link :
Post Views: 1 Related Stories
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Asharq Al-Awsat
21-05-2025
- Asharq Al-Awsat
Saudi Arabia Ranks Second in G20 for ICT Regulatory Progress
Saudi Arabia has secured second place among G20 countries in the UN International Telecommunication Union's 2024 ICT Regulatory Tracker, marking a significant milestone in the Kingdom's efforts to modernize its digital regulatory environment. The achievement underscores Saudi Arabia's progress in developing a robust regulatory framework for the telecommunications and information technology sectors. It reflects the country's commitment to fostering innovation, building advanced digital infrastructure, and implementing effective regulatory tools that support investment and fuel the growth of the digital economy. The Communications, Space and Technology Commission said the index is designed to assist policymakers and regulators in keeping pace with rapid changes in the sector. The index evaluates 194 countries based on 50 indicators across four key areas: regulatory authority independence, mandate, framework, and market competition. The Kingdom's performance in the ICT Regulatory Tracker adds to a string of international successes in the technology sector. It has maintained its position as the second-highest ranking G20 nation in the ITU's ICT Development Index for a second consecutive year. Saudi Arabia also ranked second among G20 countries in the UN's Telecommunication Infrastructure Index. Separately, the Ministry of Communications and Information Technology announced on Tuesday that Saudi Arabia was named 'Country of the Year' and topped the global rankings for the fastest-growing tech startup ecosystem in the 2024 StartupBlink Index. Riyadh was recognized as the world's fastest-growing city in this category. Saudi Arabia ranked first globally in healthtech, and second in both insurtech and investment tech, as well as in logistics and delivery applications. It placed third in digital payments, fifth in gaming, and seventh worldwide in edtech. Riyadh also posted the highest global growth rate in innovation and entrepreneurship ecosystems. The capital ranked first in nanotechnology and transportation technology, and second in fintech. As part of its broader strategic vision, the Saudi government is working to maximize the economic impact of the tech sector. The digital economy now contributes more than SAR495 billion ($132 billion) to GDP, representing 15% of the total. The ICT market size exceeded SAR180 billion ($48 billion) in 2024, creating over 381,000 quality jobs. Women's empowerment has been a cornerstone of this transformation. Female participation in the tech sector surged from 7% in 2018 to 35% in 2024, the highest in the region and above the G20 and EU averages. In the realm of digital government, Saudi Arabia ranked fourth globally for digital services, second among G20 nations, and first in the region.
Saudi Gazette
20-05-2025
- Saudi Gazette
Saudi Arabia ranks second among G20 in the ICT Regulatory Tracker Index
Saudi Gazette report RIYADH — Saudi Arabia achieved an exceptional accomplishment by securing second place among the G20 countries in the ICT Regulatory Tracker index issued by the UN International Telecommunication Union (ITU) for 2024. The achievement confirms Saudi Arabia's remarkable progress in telecommunications and technology regulations, enhancing regulatory innovation, building cutting-edge digital infrastructure, and implementing effective market oversight mechanisms. It also demonstrates Saudi Arabia's dedication to providing an attractive regulatory environment that stimulates investment and accelerates digital economic growth, solidifying its position as a global regulatory leader. The index aims to support decision-makers and regulatory entities in keeping pace with developments in the vital sector, as it measures the maturity of ICT regulatory frameworks across 194 countries. It is based on 50 criteria divided into four main pillars: regulatory authority, regulatory mandates, regulatory regime, and competition framework. The achievement extends Saudi Arabia's series of international successes in the telecom and technology sector, as it continues to enhance its global position by achieving the highest classifications and advanced rankings. Saudi Arabia maintained second place among G20 countries in the ICT Development Index for two consecutive years, and it achieved second place among the G20 countries in the United Nations' Telecommunications Infrastructure Index (TII).
Argaam
20-05-2025
- Argaam
Saudi stock market boosted regional, global standing in 2024: Elkuwaiz
Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA), said the Saudi stock market enhanced its standing both regionally and globally in 2024. He added that the market ranked first among G20 countries in several global indicators, including financial markets, market capitalization, shareholders' equity, and venture capital. Commenting on the CMA's 2024 annual report, Elkuwaiz noted that the market recorded a historic leap in assets under management, surpassing SAR 1 trillion by the end of 2024. Additionally, exchange-traded funds (ETFs) soared 935% compared to 2023, while funds of funds surged 126.5% to more than SAR 10 billion. As for the sukuk and debt instruments market, the Chairman highlighted that the value of issuances leapt 20% to SAR 663.5 billion, with total proceeds of SAR 40.4 billion. This reflects the growing role of the market in financing major national projects. Regarding investor protection, Elkuwaiz pointed out that the compensations awarded as per final rulings of the Committee for Resolution of Securities Disputes exceeded SAR 389 million, an increase of 59% compared to 2023. This coincided with a reduction in the average litigation duration to approximately four months.
