Riyadh, February 8, 2024, stc Group sealed a series of new agreements with domestic partners during the Public Investment Fund’s (PIF’s) Private Sector Forum in Riyadh, aiming to bolster the local economy. Prince Mohammad Bin Khalid Al Abdullah Al-Faisal, the chairman of the Board of Directors of stc Group, graced the signing ceremonies with his presence.
Represented by its Rawafed program, stc Group actively participated in the forum, which also featured a dedicated workshop focusing on enhancing the localization of procurement and supply chains.
The annual event serves as a convergence point for policymakers, influential local private-sector entities, visionaries, and industry leaders, aiming to deliberate on and expedite economic growth prospects within the Kingdom’s private sector.
Expressing his views on stc’s engagement, CEO Olayan Al-Wetaid remarked, “We are delighted to once again partake in the PIF Private Sector Forum – a platform par excellence to reaffirm our commitment to advancing the Kingdom's economic agenda. At stc Group, we are steadfast in delivering top-tier connectivity, spearheading digital transformation, and fostering sustainable development.”
Al-Wetaid emphasized that the executed agreements underscore stc Group’s dedication to collaborating with diverse local partners, fostering innovation, and bolstering local content in alignment with the objectives of Vision 2030.
The signed agreements encapsulate a spectrum of strategic objectives for stc Group, ranging from sustainability to digital transformation. Among them is a partnership with Al Jazea Contracting & Trading Company for the establishment of a grey water treatment plant, aimed at curbing water consumption and achieving broader sustainability targets.
Additionally, an agreement with Master Works was inked to augment the customer experience by expanding stc’s capabilities in monitoring new key performance indicators.
Moreover, a pact with Gazal, a portfolio company of PIF, was forged to introduce eco-friendly mobility solutions at stc Group’s headquarters. Furthermore, an agreement with Simah was signed to develop a system for integrating and validating partner data, thereby enhancing the onboarding process in an initiative termed “Partner Hub Enhancement.”
At the forum, stc Group also sealed contracts with Middle Sea for Telecommunication Establishment, Prime Gate Company, and Awnas Contracting Company to modernize infrastructure and advance sustainability endeavors, with a specific focus on the offloading of stc OSP (outside plant) infrastructure.
Concluding its engagement, Rawafed, representing stc Group, participated in the "Maximizing Local Content in Procurement" workshop and exhibition. The platform allowed direct registration for local partners, enabling them to showcase investment opportunities in technology and highlight stc Group's exemplary leadership in localization practices within the Kingdom.
The workshop served as a forum for exchanging experiences and insights on enhancing local procurement and supply chain localization efforts.
The PIF Private Sector Forum draws elite policymakers, esteemed local private-sector institutions, as well as prominent figures and specialists in the sector. It serves as a pivotal platform for dialogues aimed at bolstering local content and amplifying opportunities for private sector growth in the Kingdom.
