DAVOS, Switzerland — Saudi Minister of Communications and Information Technology Abdullah bin Amer Alswaha has quite the story to tell. His government has poured billions of dollars into the country’s technology sector, which now has a workforce rivaling that of Silicon Valley.
The kingdom’s tech workforce has grown from 150,000 to 354,000 over the past seven years, nearly equal to that of the Bay Area, the global tech capital.
Riyadh’s early efforts to partner with tech giants have been integral to the growth of its venture capital market, which was up 33% in 2023 despite the global market being down by around 38%.
Saudi officials met with companies including Microsoft and IBM at the World Economic Forum in Davos this week.
