Aligning with the BRICS focus, Saudi Arabia has made a huge announcement that is set to boost its digital economy. Indeed, the country is set to re-establish its digital finance infrastructure with the launch of open data programs. Moreover, this will also mean the arrival of a National Data Index.
Indeed, the initiative is the first of its kind for the country. Moreover, the launch arrives alongside upgrades to the Open Data Platform and Data Governance Platform. Additionally, Saudi Arabia reportedly hopes to “promote transparency, create a national data-based economy, and continue to data maturity in government entities,” according to sources.
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Saudi Arabia Announcement to Boost Digital Economy
For the last several months, the BRICS alliance has placed a renewed focus on digital finance. Amidst China’s rather impressive response to its digital yuan, the bloc has sought to establish its own initiatives. Brazil, India, and others have all sought to sort out their digital economies. Subsequently, many have pondered if a digital currency could be in the alliance’s future.
Still, amid that aligning focus, one of the bloc’s newest nations has also adjusted its attention. Specifically, the BRICS invitee, Saudi Arabia, has made a huge announcement that is set to boost its digital economy. Indeed, the country is poised to launch a National Data Index that will have massive implications for that sector of the kingdom.
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The National Data Index is described as “a dynamic result-based indicator for follow-up and evaluation.” Additionally, it will rack and asses government agency progress in the areas of data management, compliance, and other indicators.
Alongside the index will be an upgraded Open Data Platform. Indeed, that platform has already received more than 7,000 data sets from 19 publishers and 35 different use cases. Both launches were orchestrated by the Saudi Data and Artificial Intelligence Authority and the National Transformation Program. Indeed, both had signed a memorandum of understanding in 2022. Specifically, they sought to embrace and unveil new partnerships and business solutions aligning with the Vision 2030 initiative.