Rashid Al Balla MANAGING DIRECTOR, NATIONAL TECHNOLOGY GROUP

How do you see Saudi Arabia’s future in developing the knowledge locally to build its own IT technology?

If we look at emerging technologies such as blockchain, IoT, and AR, there is no leader in the world. These are areas where we can easily build and lead with the right team. We have many talented people in Saudi Arabia who can help with that. When it comes to traditional factories and manufacturing, we have big family-owned businesses that are into manufacturing, so there is local experience. In this area, we see huge opportunities for mergers and acquisitions. Establishing new lines of business, utilizing technology in a better way, and making something that can support the region is feasible for Saudi Arabia. This is in line with Vision 2030, and the government’s support has been nothing short of extraordinary, so we are very optimistic about the future.

What new lines of business are you eyeing at the moment?

NTG is eyeing new models of doing business more than it is eyeing new technologies. We are looking at adapting emerging technologies to certain areas such as smart cities and the cloud. We are still making hardware purchases as opposed to leasing, outsourcing, and subcontracting. The government’s decision to introduce new purchasing systems, entities, and regulations has created numerous opportunities for us. We are looking at how we can consolidate the market instead of competing with each other. If Saudi Arabia can create a giant IT company by consolidating the market, we can compete on a regional level.