Technology

Riyadh — Rqeem for Smart Solutions, the digital arm of the Royal Commission for Jubail and Yanbu (RCJY), has signed a memorandum of understanding (MoU) with Torry Harris Business Solutions to develop an AI-powered digital marketplace aimed at accelerating industrial transformation and attracting investment into Saudi Arabia.

The agreement was announced during the Industrial Transformation of Saudi Arabia event held in Riyadh. The partnership positions Rqeem as RCJY’s technology enabler, establishing a government-backed digital ecosystem designed to connect small and medium-sized enterprises (SMEs), major industrial players, and global investors through a single integrated platform.

Under the MoU, Torry Harris will act as Rqeem’s digital transformation partner, delivering a configurable, white-label marketplace powered by artificial intelligence and API-led integration. The platform is designed to match supply and demand across industrial sectors in real time, expanding access to advanced digital tools traditionally available only to large enterprises and supporting the Ministry of Industry’s Vision 2030 objectives.

Bader Abdullah Alanazi, Sales and Marketing Director at Rqeem for Smart Solutions, said the partnership opens new avenues for collaboration in information technology and artificial intelligence, while reinforcing digital transformation across the industrial sector.

Shivdayal Charan, Director of Torry Harris Middle East, said the initiative aims to bridge the technology gap between large enterprises and SMEs by providing smaller industrial firms with AI-driven insights, real-time intelligence, and seamless integration capabilities needed to compete and grow in the digital economy.

At the event, Rqeem highlighted its role as RCJY’s digital arm, delivering scalable smart solutions aligned with Saudi Arabia’s national digital transformation agenda. The marketplace is built around three core priorities: narrowing the SME technology gap, enabling AI-driven network-effect ecosystems, and creating a 24/7 digital gateway for global investment into Saudi industrial clusters.

The AI-powered marketplace will function as a global portal allowing investors to search, filter, and be algorithmically matched with qualified Saudi partners for joint ventures, technology collaboration, and specialised industrial services. Investors will be able to access a unified recommendation engine that identifies local companies based on niche expertise, capacity, and readiness, regardless of location.

For SMEs and local industrial players, the platform provides a government-backed space to showcase capabilities and connect with larger manufacturers. As participation expands, network effects are expected to enhance matching accuracy and strengthen the overall competitiveness of Saudi industrial clusters.

The marketplace model is also designed to be configurable and white-label, enabling deployment across sectors such as logistics, clean energy, advanced manufacturing, smart cities, and technology services. In this approach, the platform becomes a single digital entry point for vetted SMEs, supporting national competitiveness and entrepreneurial growth.

The Riyadh MoU highlights how collaboration between government-linked entities and specialised technology integrators can create digital ecosystems where global capital, local innovation, and industrial policy reinforce one another, delivering long-term benefits for investors, SMEs, and the wider economy.

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