Saudi Arabia has announced more than $9 billion investments in its technology sector, as part of efforts to bolster digital transformation in preparation for the future economy. The investments are led by a $2.1 billion commitment from Microsoft , which will build a super-scaler cloud in the kingdom, Abdullah Alswaha, Saudi Arabia’s Minister of Communications and Information Technology, said at the Leap 2023 conference in Riyadh on Monday. They also include Oracle’s plans to invest $1.5 billion to boost the kingdom’s cloud-computing capacity and $400 million from China’s Huawei to enhance Saudi Arabia’s cloud infrastructure, he said. An additional $4.5 billion has also been invested in global and local assets across a number of technology sectors, the minister said. The investment was announced by the Arab world’s largest economy surpasses the $6.4 billion announced at the inaugural Leap last year . They are part of Crown Prince Mohammed bin Salman’s plans for the "empowerment of the technology sector, which is one of Saudi Arabia’s most promising sectors amid unprecedented growth in the kingdom’s digital economy", Mr Alswaha said at the opening of Leap. Some of the areas on which the kingdom will focus are financial and health technology, Internet […]
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