Mobile Telecommunication Company Saudi Arabia (Zain Saudi
Arabia) has announced that a high order has granted it a 15-year license extension, which allows it to provide telecommunication services throughout the kingdom.
“This is clearly the most
significant development for the company since its inception,”
Prince Naif Al Kabeer, president of the board of Zain Saudi Arabia, said. “This
decision is aligned with the ‘Vision 2030’ of the kingdom, to diversify
the economy and significantly increase the contribution of private sector
companies.”
Al Kabeer noted the global importance of the
telecommunications industry, as the industry feeds the requirements of digital
connectivity in a modern economy. He believes Zain can play a strong role in
driving innovation in the kingdom.
“Only through effective
competition will this occur: to play our role effectively, the kingdom needs to
be strong,” Al Kabeer said. “Therefore, on behalf of
Zain Saudi Arabia and its shareholders, (we) sincerely thank our government vision
and leadership to reach this decision.”
Hassan Kabbani, CEO of Zain Saudi Arabia, also thanked
the government for its support, saying the decision will accelerate the growth
and transformation of the company.
“This is very positive news for the company and for the
telecommunications industry in Saudi Arabia,” Kabbani said. “This
decision brings us closer to our goal of achieving sustainable net benefits.”
