Riyadh, December 19, 2023 - The Minister of Media, Salman bin Yousef Al-Dosari, who also serves as the Chairman of the Board of Directors of the General Authority of Media Regulation, unveiled the strategic roadmap and identity of the regulatory body on Monday. This comes in the wake of the Cabinet's approval of the reorganization of the authority, signifying a significant milestone in the evolution of media governance in the Kingdom.
The newly launched strategy is geared towards positioning the General Authority of Media Regulation as a regional and international leader in the media sector. By fostering a conducive environment for growth and development, the authority aims to elevate the Kingdom's media industry to new heights, making it a key player on the global stage.
Among the key objectives outlined in the strategy is the enhancement of the media sector's investment attractiveness. By implementing measures to bolster investor confidence and streamline regulatory processes, the authority seeks to attract both local and international investments, thus contributing to the economic diversification goals of the Kingdom.
Moreover, the strategy places a strong emphasis on nurturing and developing national talent within the media sector. Efforts will be directed towards enhancing the efficiency of the Kingdom's media professionals, ensuring they are equipped with the skills and knowledge required to thrive in a rapidly evolving industry.
A pivotal goal of the General Authority of Media Regulation's strategy is to significantly increase the media sector's contribution to the country's Gross Domestic Product (GDP). With a targeted goal of SAR 47 billion by 2030, the strategy recognizes the untapped potential and rich opportunities within the media sector that can be harnessed to diversify the national economy.
Minister Al-Dosari highlighted that the strategy aligns with the Kingdom's Vision 2030, emphasizing the role of the media sector in driving economic growth and reducing dependence on oil revenue. The concerted efforts outlined in the strategy are expected to not only bolster the media industry but also play a pivotal role in increasing the non-oil GDP of the Kingdom.
As the General Authority of Media Regulation embarks on this ambitious journey, its strategic vision sets the stage for a dynamic and thriving media landscape in Saudi Arabia, reflecting the nation's commitment to innovation, excellence, and global competitiveness.