According to the latest news from Xinhuanet on December 22, on December 20, Saudi Arabia and the Chinese technology company Huawei signed a memorandum of understanding and cooperation. According to the plan of both parties, Huawei will help Saudi Arabia cultivate information and communication technology talents and develop the digital economy. The above areas are important goals that Saudi Arabia hopes to achieve in its “Vision 2030”.
As we all know, Saudi Arabia has been trying to find other economic paths besides oil trading for many years to diversify its sources of income. Public information shows that in 2016, Saudi Arabia proposed three major economic goals to be completed by 2030. They are to become a global investment power and diversify the sources of economic income; to become a trade and economic hub between Asia, Europe and Africa, etc.
As of 2019, Saudi Arabia’s economic plan has achieved good results. Data show that in the four years from 2016 to 2019, Saudi Arabia’s non-oil revenue was 1.05 trillion riyals, a 105% increase from the 512 billion riyals in the previous four years (2012-2015).
However, affected by the spread of the new crown epidemic this year, Saudi Arabia’s important money-making tool-oil revenue has been hit hard. According to the latest data released by the Saudi General Authority for Statistics, the country’s oil revenue plummeted by nearly 40% in September this year to approximately 35 billion riyals (equivalent to approximately 61.1 billion yuan). Even revenue from non-oil commodities has been dragged down, with only 18 billion riyals earned in September, a year-on-year decrease of 9.3%.
Considering that the global epidemic will not subside for a while, Saudi Arabia has hired Huawei to jointly develop the digital economy, which is expected to successfully solve Saudi Arabia’s current economic dilemma. Currently, the world is in a period of accelerated development of commercial 5G. Whoever can occupy the high ground of 5G network first will be able to seize the opportunity in the future.
As the world’s leading communications equipment supplier, Huawei plays a “significant role” in driving the economy. Taking Shanghai, our country, as an example, Huawei contributed nearly 100 billion yuan in GDP to Shanghai from 2016 to 2020. According to my country’s economic development plan, it is expected that the 5G industry will bring 15.2 trillion yuan of digital economic growth to my country from 2020 to 2025. </p
