DCO member states to discuss state of digital economy in Riyadh

Thirteen members of the Digital Cooperative Organisation (DCO), along with their delegations, representatives from guest countries and international organisations will hold a General Assembly in Riyadh, Saudi Arabia, to discuss the state of the digital economy and the challenges facing all nations in achieving equitable global digital growth and development.

The DCO is a global multilateral organization founded in November 2020 that aims to enable digital prosperity for all by accelerating the inclusive growth of the digital economy. The thirteen member states include Bahrain, Cyprus, Djibouti, The Gambia, Ghana, Jordan, Kuwait, Pakistan, Oman, Nigeria, Rwanda, Morocco, and Saudi Arabia – that collectively represent nearly $2 trillion in GDP and a market of nearly 600 million people, more than 70 percent of whom are under the age of 35.

This is the first in-person meeting of the DCO member states since the international organisation was constituted in 2022. It was founded to help achieve social prosperity and growth by unifying efforts to advance and promote interest in the digit economy, a statement from the organisation noted.

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The event which is taking place at the Fairmont Hotel in Riyadh will also reflect the qualitative leaps made by the member states in its shift toward a tech-powered economy.

“Digital technologies have immense potential to transform economies and empower groups including women and entrepreneurs with new opportunities, especially that 70 percent of the new value created in the global economy over the next decade will be based on digitally enabled platforms so it is of critical importance that all nations have the same ability to leverage the power of digitalisation to achieve their goals,” said Deemah AlYahya, secretary-general of DCO. “The DCO was formed to accelerate digital transformation through collaboration and knowledge sharing among all stakeholders to empower nations to develop strategies and programs to drive their own digital development and equally participate in the global digital economy.