stc Group, the digital enabler in the Kingdom and the region, reviewed, during its participation in the Public Investment Fund and Private Sector Forum, the growing opportunities offered by stc’s “rawafed” to develop local content in a sustainable manner in the ICT sector and contribute to the development of national capabilities.
During the forum, stc signed several agreements with local companies aimed at increasing local content, including an agreement with “Ebtikar” company, which provides recycling services and preservation of raw materials to support sustainability efforts, and “Solutions” company, to provide smart solutions for conference rooms and private offices.
This cooperation is an extension of the group’s efforts to support local content in the Kingdom, which is one of the main pillars of the Kingdom’s Vision 2030, which aims to maximize its contribution and enable it to create quality products and services.” This is why stc realizes the importance of concerted efforts by major Saudi companies to provide opportunities that enable entrepreneurs and local small and medium-sized companies to raise their efficiency, which will reflect positively on the business sector in the Kingdom, as stc is committed to supporting companies and developing promising talents to accelerate the pace of transformation digital content in the Kingdom of Saudi Arabia, and to provide more opportunities for local content to be part of the group’s journey towards achieving more successes and growth.Eng. Emad Al-Awda, CEO, Shared Services at stc Group
The group had launched “Rawafed” from stc in 2018 with the aim of developing local content in a sustainable manner in the communications and information technology sector and contributing to the national product. The program is based on 4 strategic axes: supporting small and medium enterprises, localizing industries, digitization and innovation, and developing the local workforce.
In 2022, the program injected investments worth 5 billion riyals into the national economy, which raised annual domestic spending by 13.4 billion riyals, which contributed to the program reaching a rate of 40.75% in the local content development index.
In addition, stc held workshops on the sidelines of the forum, and presented the available opportunities to increase the localization of the information and communication technology sector through the investment opportunities guide, which shows the opportunities available through increasing investment in the manufacturing sector.