Riyadh – Mubasher: The Saudi telecommunications and information technology (IT) sector has achieved around SAR 130 billion in revenues during the full-year 2018, the kingdom’s telecommunications and IT minister said on Sunday.

The sector also participated with SAR 90 billion, or 4%, in the kingdom’s gross domestic product (GDP) last year, Al Eqtisadiah newspaper reported, citing Abdullah Al-Swaha.

The Saudi top official further noted that nine e-payment firms submitted requests to start operation in the GCC nation over the coming period.

These companies included three firms which launched their services, namely STC Pay, Bayan Payments, and Halalah Payments.

On a separate note, STC Pay is a joint venture (JV) between the Saudi Telecom Company (STC) and Western Union, while Halalah Payments is a JV between Mobile Telecommunication Company Saudi Arabia (Zain) and Saudi pioneers.

Abdullah Al-Swaha said that the rate of implementing Saudisation in the telecommunications sector reached 80% currently.