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Saudi Arabia To Welcome Google Pay In 2025 As Part Of Vision 2030

by THEFUTURE.TEAM

January 17, 2025

Google Pay is preparing for its launch in Saudi Arabia in 2025, offering users a secure and convenient way to make payments in stores, apps, and online. This move follows the signing of an agreement between Google and the Saudi Central Bank (SAMA), which will see Google Pay integrated into the national payment system, mada.

The partnership aligns with SAMA’s ongoing initiatives to strengthen the Kingdom’s digital payment ecosystem as part of Saudi Arabia’s Vision 2030. This commitment aims to reduce the reliance on cash and promote the adoption of advanced digital payment solutions that adhere to international standards.

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AI Hub To Boost Saudi Arabia’s Tech Ecosystem

In addition to Google Pay, the tech giant revealed plans in October 2024 to establish an advanced Artificial Intelligence (AI) hub in Saudi Arabia. This move is designed to contribute to the nation’s economic growth and technological advancement, aligning with Vision 2030’s goal to diversify the economy through technology.

The AI hub is expected to generate up to $71 billion for the Saudi economy. This figure highlights the significant potential of advanced AI applications in sectors like healthcare, retail, and finance, not only in Saudi Arabia but across the Middle East, Africa, and beyond. According to Ruth Porat, President and Chief Investment Officer of Google and Alphabet, the hub will fast-track AI integration, particularly in Arabic, to meet the specific needs of the region.

Collaboration With Local Stakeholders To Drive Industry Innovation

The AI hub is the result of collaboration between Google and key stakeholders in Saudi Arabia’s technology and investment sectors. It will focus on developing AI-powered solutions tailored to industries such as oil and gas, finance, healthcare, and logistics, helping to optimize processes and enhance economic resilience.

Yasir Al Rumayyan, Governor of Saudi Arabia’s Public Investment Fund (PIF), emphasized that this partnership demonstrates the PIF’s commitment to building a tech-friendly ecosystem, investing in human capital, and equipping Saudi professionals with advanced tools for sustainable development.

Fostering Local Talent And Entrepreneurship

Central to this initiative is the focus on nurturing homegrown talent. The AI hub will offer training programs, research opportunities, and platforms for local developers, researchers, and startups, potentially benefiting millions of people. This ecosystem will not only drive innovation but also foster entrepreneurship, ensuring that economic benefits are felt throughout the Kingdom.

As global tech leaders shift their focus to localized solutions, Google’s initiative exemplifies a forward-looking approach that taps into regional strengths. With the AI hub’s potential to contribute billions to the economy and boost digital capabilities, Saudi Arabia is well-positioned to become a regional leader in AI innovation.

Kuwaiti Ambassador Advocates For Strengthened Ties Between Cyprus And GCC Nations

by THEFUTURE.TEAM

February 5, 2025

The Kuwaiti Ambassador to Cyprus, Abdullah Musaed Al-Khorafi, has underscored the vital need to deepen dialogue between Kuwait, Cyprus, and the Gulf Cooperation Council (GCC) nations, as well as the broader Arab world. He made these remarks during a luncheon held at his Nicosia residence on February 4, which brought together key diplomatic figures.

The event was hosted in honor of Annita Demetriou, President of the House of Representatives of Cyprus, and was part of a series of high-level diplomatic gatherings organized by the Kuwaiti Embassy in Cyprus. Among the attendees were the ambassadors and heads of Arab diplomatic missions in Cyprus, as well as representatives from the U.S. and Swiss embassies.

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Ambassador Al-Khorafi took the opportunity to lead an expanded discussion on pressing regional and international developments, focusing particularly on the Middle East. Topics included the ongoing crises in Syria, Lebanon, and Palestine, with a strong emphasis on how these events affect regional stability.

The luncheon also served as a platform for talks on enhancing cooperation between Cyprus and GCC countries, as well as broader Arab nations. The discussions highlighted opportunities to strengthen ties in key sectors such as education, culture, trade, investment, and tourism. The aim is to build closer connections between people and foster mutual benefits.

In his opening speech, Ambassador Al-Khorafi stressed the importance of promoting dialogue at both governmental and societal levels, not only between Kuwait and Cyprus, but across the entire GCC and Arab world. He expressed his gratitude for the presence of President Demetriou, noting that her participation symbolized Cyprus’ commitment to advancing relations with Kuwait and its regional partners.

President Demetriou, in turn, thanked the ambassador for his hospitality, reflecting on the fruitful discussions and shared goals for enhancing Cyprus’ relations with Kuwait and the wider Arab world. She reaffirmed the importance of cooperation and strategic partnerships between Cyprus and the GCC countries, especially in areas of mutual interest and concern.

This meeting, according to Demetriou, was a testament to the strong diplomatic relations between Cyprus and Kuwait, as well as the ongoing efforts to broaden and deepen ties with the Arab world.