SCBC Team – Riyadh
A partnership agreement between the “Alibaba Cloud” company, a subsidiary of the “Alibaba” group, the technology giant in China, and the Saudi Telecom Company “STC”, and the eWTP Arabia Capital Fund, entered into force to make the Saudi capital Riyadh, a regional center for digital cloud computing operations in the Middle East and North Africa with an investment of one billion dollars.
This Saudi-Chinese digital partnership, led by the Saudi Federation for Cybersecurity, Programming, and Drones, in accordance with the terms of the partnership agreement, seeks to establish the largest cloud service to provide high-performance digital services locally and regionally, in order to achieve the goals of the Kingdom’s 2030 vision in supporting the digital transformation system and enabling bold capital innovative investments that provide the best digital solutions according to the highest international practices and work to build a solid digital economy.
The agreement between Alibaba and Saudi Telecom also stipulated the contribution to training and developing local talent, achieving sustainability and ensuring localization of technology, accelerating the growth of the local economic system for business, and the latest developments in the public cloud platform used to support the business of the Alibaba Group, while advancing the digitization of local institutions and companies Small to higher levels.
This “agreement” comes after the signing of a memorandum of understanding between the Saudi Authority for Data and Artificial Intelligence “SADAYA” and “Alibaba Cloud Computing” to establish a strategic partnership to lead innovation in smart cities in the Kingdom, using artificial intelligence technologies.
The memorandum of understanding serves the Kingdom’s efforts in implementing the “Quality of Life” program, one of the programs of Vision 2030, regarding the construction of smart cities with global specifications and competitiveness, based on enhancing innovation, security, and safety, employing artificial intelligence in various sectors, and stimulating investment to achieve the aspirations of the population and create comprehensive and sustainable development.