Saudi telecom industry is a unique one
Ahmed Farroukh, CEO of Mobily talks about the telecom market in Saudi Arabia.
imported 2024-03-17 17:43:08
Ahmed Farroukh, CEO of Mobily talks about the telecom market in Saudi Arabia.
Ahmed Farroukh, CEO of Mobily talks about the main challenges in the Saudi telecom market.
The Islamic finance industry has evolved in the direction of complying with the conventional system. Islamic finance industry has to rethink its philosophy. The latest trend in the industry is the emergence of innovations from Islamic institutions that are derived from the principals of the Islamic finance philosophy, not from the motive of providing solutions or mimicking the conventional finance systems.
Interview with Hani O. Baothman, Managing Director & CEO of Al Murjan Holding.
With over 27 million consumers and a number of global enterprises, Saudi Arabia is the largest ICT market by far in the Middle East. For example, the Saudi telecoms and information technology industry represents about 51 to 55% of the total Middle Eastern market.
Our focus in investment will definitely be on 4G. It will take almost two years of testing for 5G to see the light. For us, LTE will be our main investment.
I think this is a transit period and that probably over the next 6 to 9 months it will recover again. However I see big potential in the African and North African market. This will be our focus for next year.
We have two issues here. As you said, there are many new laws, but there is also development. There has been substantial development of the e-platforms in Saudi Arabia for interacting with the government and that has substantially eased the burden when it comes to operations. Most of the materials that we deal with here in Saudi Arabia are available locally.
The market for IT services grew at about 12 to 13%.
L’Azurde started in Saudi Arabia 35 years ago. We have expanded to become the largest gold and jewelry manufacturer in the Middle East and North Africa region. We are the fourth largest in the world. This has happened thanks to continuous investments in technology, innovation, and manufacturing. Today, we invest in talented people and machines. We have more than 2,500 craftsmen and more than 600 different kinds of machines developing jewelry.