The ICT sector is one of the fastest growing sectors in Saudi Arabia as it leads the whole Arab and Middle East region in the spending on ICT infrastructure and projects, said an expert at a meeting of business executives in Riyadh.

Dr Ahmad Al-Yamani, CTO Saudi Arabia General Investment Authority (Sagia), was addressing executives from Saudi companies, who gathered recently to discuss innovative IT solutions for the Kingdom’s continued business growth.

"The Kingdom sits at the hub of the world's most dynamic economies, and a launch-pad to 250 million consumers,” said Dr Al-Yamani.

“Due to its location and reach, Saudi Arabia offers unparalleled access to a diverse portfolio of international markets,” he added.

“Saudi Arabia offers the best business environment in the region. According to the World Bank's Ease of Doing Business Index, Saudi Arabia currently holds 13th place globally.”

According to UNCTAD (United Nations Conference on Trade and Development), SAP, the world’s leading provider of business software and organiser of the Riyadh event, is currently ranked number 62 among all foreign-owned companies investing in Saudi Arabia.

This is a very high ranking considering SAP trades in the intellectual property-heavy IT sector, as opposed to more capital-intensive industries such as manufacturing or energy, a statement said.

Sergio Maccotta, managing director, SAP Mena, said: “As an emerging market, Saudi Arabia is experiencing rapid development, and as a result the SME sector is on the brink of a massive core enterprise resource planning (ERP) wave.”

“Industries in demonstrating impressive growth in the emerging markets include public sector, healthcare, and financial services, all of which have a strong presence in the Kingdom,” he added.

Market forces affecting emerging economies include an increased need for business insight to enable end-to-end best-run business processes, incremental innovation to compensate for market shifts, and changing customer needs, fast return on investment and ‘quick wins’ with commensurate value, and tactical solutions to specific challenges, he said.

Saudi companies must holistically manage economic, social, and environmental opportunities, as organisations are focusing on business solutions that optimise performance, and offer the insight and agility needed to close the gap between strategy and execution, said Maccotta.

Abdul-Raheem Bawazeer, managing director, SAP KSA, said: “SAP is working with its customers and partners in the Kingdom to show how the innovative use of IT can promote end-to-end visibility within their organizations, in line with sustainable business practices. Businesses with the clarity to act effectively and decisively are able to cement a strong competitive position among their peers.”

The SAP executives were in Riyadh to meet with customers and deliver the keynote addresses at the 2010 SAP World Tour, “See Your Way Clear: Strategies for Success in the New Reality”, to an audience of C-level executives, IT decision makers, and business managers from leading Saudi companies. – TradeArabia News Service