RIYADH: The Kingdom will now promote technological products and innovations thanks to a new subsidiary label established by the Saudi Exports Development Authority. Saudi Technology, launched during the second edition of the “Made in Saudi” exhibition in Riyadh, focuses on promoting tech products, strengthening their presence in global markets, and elevating local and international status for domestic companies and their products. The label will also support Saudi businesses and entrepreneurs to gain a competitive edge by documenting their technology advancements, according to the Kingdom’s state-run news agency. Additionally, it encourages Saudi technology companies to boost their value and penetrate other markets. Saud Al-Gublan, vice president of Services Export at SEDA, praised the collaborative efforts of the stakeholders in the technology sector, recognizing it as one of the most promising fields. Collective efforts increase the reach of national technology companies and products locally and internationally. This reflects a favorable image of the Kingdom to the rest of the world, reported SPA. Furthermore, Raed Al-Fayez, deputy governor for IT and emerging technologies at the Communications, Space, and Technology Commission, also emphasized the significance of utilizing the label’s membership to strengthen the position of technology companies and products. He also noted that the region’s initiatives will increase their competitiveness and raise local, regional and global credibility. Al-Fayez extended an invitation to entrepreneurs and tech firms to obtain the label’s membership and take advantage of the benefits it offers. This is done to market their products globally and expand international sales, contributing to raising non-oil exports and diversifying the national economy’s income sources. Notably, over 100 Saudi companies are participating in the “Made in Saudi” exhibition in the presence of Transport and Logistics Minister Saleh bin Nasser Al-Jasser and Industry and Mineral Resources Minister Bandar Alkhorayef. The event is expected to create opportunities for companies to boost their profiles and attract international investors. It will feature workshops and panel discussions and welcome government and industry representatives.