Saudi Arabia sees nearly 50% surge in investment licenses in Q2 amid rising investor confidence

RIYADH: Saudi Arabia has made significant progress in sustainability by harnessing technology and creating strategic partnerships, completing 13 successful projects in 16 public and private entities, according to a recent report.

The UK's Communications, Space and Technology Commission unveiled these successes, showing their impact on environmental, economic and social sustainability.

In its latest digital and spatial sustainability report, the commission highlighted several technological advances, including Aqua-Fi bidirectional lasers. Led by the King Abdullah University of Science and Technology, this project enables high-speed and reliable communication between underwater devices. The report showed that Aqua-Fi achieved data rates of 2.11 megabits per second over 20 meters, facilitating real-time data transmission for ocean monitoring related to aquaculture, energy, environmental and security concerns.

Another key project featured in the report involves the King Abdulaziz City for Science and Technology and the Taqnia Space. This initiative uses satellite imagery and field validations to compile comprehensive agricultural data for the Kingdom. Using geospatial and remote sensing technologies, the project saves 9 billion cubic meters of groundwater in sedimentary shelf areas, catalogs 40,000 agricultural activities and researches 400,000 agricultural records in Saudi Arabia.

Saudi Minister of Communications and Information Technology Abdullah Al-Swaha underlined the Kingdom's commitment: “The Kingdom of Saudi Arabia is committed to harnessing technology, innovation and science to empower people, protect the planet and shape new frontiers for all. We believe in the essential role of green technologies and sustainability efforts to achieve prosperity in all economic sectors.” He added: “Today, the Kingdom is leading initiatives that cross borders to help countries adopt the most effective solutions to shape a more sustainable future for all.”

Sustainability is a cornerstone of Saudi Arabia's Vision 2030. The Kingdom's commitment to net zero emissions by 2060 highlights its proactive stance against climate change, integrating environmental, social and governance principles into its societal and economic frameworks.

The report also highlighted Saudi Arabia's Optimal PV project, which automates the design of rooftop solar systems using advanced algorithms and machine learning. This innovation improves solar power installations by improving efficiency, accuracy and scalability, achieving a 40% increase in profitability and an 80% reduction in design costs.

The NanoPalm project, which uses machine learning and deeptech nanotechnology, was another highlight. This technology aims to accelerate pharmaceutical research and development, significantly reducing the average R&D cost from $100 million to $4.54 billion and increasing effectiveness from 10% to 85%.

King Faisal Hospital and Research Center's use of 3D printing technology to improve patient care was also presented. This technology reduced surgical time by up to 30%, creating 5,158 virtual models and 1,168 printed models for accurate diagnosis and surgical planning.

The launch of SDM's SAARIA, the Middle East's first AI technology for chronic disease diagnosis, was noted as a significant achievement. SAARIA, with 97% accuracy, is designed for the early detection of diabetic retinopathy, a condition that can lead to irreversible blindness. This initiative aims to protect the 7 million people with diabetes in the Kingdom.

The report highlighted Saudi Arabia's ongoing investment in digital infrastructure as a key factor in its emergence as a global leader in digital sustainability. Supported by a comprehensive strategy, visionary leadership and a forward-looking regulatory framework, the Kingdom is well positioned to reduce its environmental footprint.

In addition to the ICT strategy of the Ministry of Communications and Information Technology, which aims to boost emerging technologies by 50%, CST is preparing to tackle future challenges with increased resilience. The report also highlighted a focus on promoting the space sector to drive technological innovation and sustainability.

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