FPT and THIQAH Progressing Digital Transformation in Saudi Arabia
In a significant move toward bolstering Saudi Arabia’s digital landscape, leading technology powerhouse FPT has forged a strategic partnership with THIQAH, a prominent provider of smart business solutions within the Kingdom.
Signed under the auspices of Vietnam’s Prime Minister Pham Minh Chinh, this Memorandum of Understanding (MoU) heralds a new era of digital innovation, with the collaboration designed to accelerate the digital transformation across various sectors in Saudi Arabia. Not only does this partnership align with Saudi Arabia’s Vision 2030, but it also reinforces the Kingdom’s position as a digital leader in the region, reflecting a deepening technological bond between Vietnam and Saudi Arabia.
Let’s delve into the specifics of this ground-breaking collaboration and its potential impact on industries across Saudi Arabia.
A Synergistic Alliance
This partnership unites FPT’s globally acclaimed digital transformation expertise with THIQAH’s deep-rooted presence and knowledge of the Saudi market. Headquartered in Vietnam, FPT has earned its stripes on the world stage, offering comprehensive technology services that cater to diverse sectors, from telecommunications to education. With over 48,000 employees and a Made-by-FPT ecosystem that delivers innovative products and platforms, FPT is a driving force in the global tech arena.
On the other hand, THIQAH, established in 2012 and backed by Saudi Arabia’s Public Investment Fund (PIF), is renowned for delivering tailored smart solutions across the public and private sectors. With its robust digital transformation infrastructure, THIQAH empowers businesses in the Kingdom to achieve operational efficiency and adapt to an evolving technological landscape.
Through this strategic alliance, FPT and THIQAH aim to offer tailored digital solutions designed to meet the specific needs of various Saudi industries. Key focus areas include:
- Artificial Intelligence (AI): Harnessing AI to automate processes, improve efficiency, and enhance decision-making across industries.
- Automation: Streamlining operations with cutting-edge automation solutions that reduce manual workloads and improve productivity.
- Data Analytics: Providing data-driven insights to enable better forecasting, trend analysis, and customer understanding.
By combining their strengths, FPT and THIQAH will address the surging demand for digital innovation within the Kingdom, fostering operational excellence and driving sustainable growth across industries.
A Step Toward Vision 2030
Saudi Arabia’s Vision 2030 is an ambitious national blueprint aimed at diversifying the Kingdom’s economy, reducing its dependence on oil, and establishing itself as a global hub for innovation. This vision emphasizes digital transformation as a key pillar for economic diversification and long-term growth. In fact, the partnership between FPT and THIQAH directly supports these goals by enhancing the technological capabilities of Saudi businesses, ultimately making the Kingdom a digital economy leader.
This collaboration represents more than just a business partnership; it’s part of a larger vision to foster technological cooperation between Saudi Arabia and Vietnam. Vietnam has become one of Saudi Arabia’s key economic partners in the Middle East, with trade volumes between the two nations reaching USD 2.21 billion in the first nine months of 2024. The partnership between FPT and THIQAH signifies Vietnam’s rising stature as a global technology hub and underscores the mutual commitment to advancing tech-driven growth.
Voices of the Leaders
Both FPT and THIQAH’s leadership expressed their commitment to transforming the region’s digital landscape through this partnership.
Rimah Ghaddar, CEO of FPT Software Middle East, stated: “Through our partnership with THIQAH, we achieve a synergy between our global expertise and the Kingdom’s ambitious vision. This collaboration not only supports business growth but also advances the future of technology in the region, strengthening the bonds between our two countries.”
Rimah’s words highlight the unique synergy between FPT’s global digital prowess and THIQAH’s regional expertise. Together, they aim to catalyse Saudi Arabia’s digital transformation journey, which will positively impact businesses and consumers alike.
Ayman Al Fallaj, CEO of THIQAH, added: “We are proud of our partnership with FPT Group to enhance digital transformation in the region, which reflects our leadership in delivering smart solutions that meet modern demands. This partnership is not only a step toward accelerating technological development within the Kingdom and achieving operational efficiency across sectors, but it also opens the door for exporting our smart solutions, enhancing our regional and global presence.”
This sentiment from Al Fallaj underscores THIQAH’s commitment to bringing modern solutions to the forefront of Saudi industries while setting the stage for international expansion and recognition.
Regional Headquarters License
In a major milestone, FPT Middle East recently obtained a Regional Headquarters license for its Saudi operations, solidifying its long-term commitment to the Kingdom. This recognition is not just a testament to FPT’s dedication to Saudi Arabia’s innovation agenda but also positions it as a trusted partner in the Middle East.
With this license, FPT aims to deliver seamless services that align with the Kingdom’s economic diversification goals, ensuring the region remains at the cutting edge of digital transformation.
Enabling Business Growth and Technological Evolution
FPT’s broader mission is to drive sustainable growth through digital solutions that address industry-specific challenges. Its Made-by-FPT ecosystem exemplifies this approach, delivering a suite of products, platforms, and solutions that empower businesses to scale and adapt.
This ecosystem will serve as the backbone of the partnership with THIQAH, allowing Saudi businesses to leverage tools and technologies that enable operational efficiency, competitive advantage, and market adaptability.
Pioneering Smart Solutions in Saudi Arabia
Founded in 2012, THIQAH has become a beacon of digital innovation within Saudi Arabia. With a strong focus on enabling businesses to navigate technological change, THIQAH has carved out a leading role in delivering smart solutions across sectors.
Supported by a team of digital transformation experts, THIQAH partners with organisations to integrate advanced digital strategies that drive long-term value.
Public Investment Fund (PIF) Backing and Regional Ambitions
With the backing of Saudi Arabia’s PIF, THIQAH is not only focused on domestic transformation but also harbours ambitions of regional and global expansion.
This partnership with FPT serves as a stepping stone to achieving these aspirations, giving THIQAH the platform to export its smart solutions beyond Saudi borders.
Paving the Way for the Future of Digitalisation
The FPT-THIQAH partnership is more than just a business deal; it’s a powerful symbol of cross-cultural cooperation aimed at shaping the digital future of Saudi Arabia. By merging FPT’s global technological insights with THIQAH’s market knowledge and presence, this collaboration embodies the spirit of Saudi Arabia’s Vision 2030.
Together, these two industry giants are poised to redefine what digital transformation means for the Kingdom’s key sectors, from AI-powered automation to advanced data analytics.
The future is bright for Saudi Arabia’s digital landscape. This partnership not only lays the groundwork for transformative change but also builds bridges between nations, creating a digital legacy that will benefit generations to come.
