Announced Saudi Telecom Company STC in cooperation with Alibaba Cloud Company and the eWTP Arabia Capital Investment Fund for providing high-performance public cloud services in the Kingdom of Saudi Arabia, so that Riyadh becomes a strategic and regional center for Alibaba’s cloud operations in the region.
The Alibaba Cloud Company intends to invest in the Kingdom up to $ 500 million over the next five years, as its investments include providing comprehensive, high-level resources to help build sustainability and ensure localization.
It is also supposed to open its center in Riyadh to provide better services to local and regional clients in the Kingdom, the Middle East and North Africa, which will be a regional center for training and management for the next stage.
Cloud computing is a major enabler of digital transformation and an essential tributary to building a strong digital economy, as Alibaba’s cloud partnership with the national operator STC is the culmination of the directives of His Highness the Crown Prince to facilitate procedures and expand the circle of electronic services in order to stimulate attracting the most prominent foreign investments to the Kingdom.
STC’s entry into the partnership with the Chinese technology giant is a practical translation of Prince Mohammed bin Salman’s pledges to open wider fields for the private sector, facilitate its business and encourage it to grow as a tributary of the national economy.
Alibaba Cloud Company is considered one of the best cloud service providers in the world, and the public cloud services it provides within the framework of the current partnership in the Kingdom include 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 small companies in the Kingdom to higher levels. .
Faisal bin Saud Al-Khamisi, Chairman of the Board of Directors of the Saudi Federation for Cybersecurity, Programming and Drones and a member of the board of directors of the eWTP Arabia Capital Fund said: The importance of robust cloud computing in 2020 is a fundamental factor for digital infrastructure parallels the importance of electricity in the basic infrastructure of any country, so we are pleased with our contribution to Ali Baba brought the cloud to the kingdom.
The CEO of Alibaba Cloud Company and the partner in the Alibaba Group confirmed that the Kingdom of Saudi Arabia has become a strategic market for the company, expressing the company’s commitment to providing the best services and digital solutions and the best business practices in digital transformation to partners and customers in the Kingdom, indicating that they are working to invest and provide a wide range of Resources to support partners.
Nasser bin Sulaiman Al-Nasser, CEO of STC Group, said: This cooperation is a major achievement for STC, which intends to invest up to $ 500 million in its efforts to contribute to achieving the Kingdom’s 2030 vision by providing a reliable partner for cloud services.
Abdullah bin Amer Al-Swahha, Minister of Communications and Information Technology, expressed his pride and pride in this strategic partnership to build the largest cloud computing center in the region, in order to establish the Kingdom’s position as the heart of the Arab and Islamic worlds of innovation, and connect the three continents digitally.
Khalid bin Abdulaziz Al-Falih, Minister of Investment, explained that attracting major technology companies to the Kingdom, including Ali Baba Al-Cloud, confirms the remarkable development that the investment environment has witnessed in the Kingdom.
He also stressed that attracting cloud computing services companies to build data centers in the Kingdom is one of the most important investment projects, whose impact goes beyond the communications and information technology sector to many other vital sectors, which represent a vital artery that nourishes and supports their activities.
He explained that these projects lead to maximizing the economic impact, creating new job opportunities, empowering entrepreneurs and start-ups, and supporting digital transformation initiatives.
The minister added that expectations indicate that the size of the cloud computing services market in the Kingdom will grow to more than 26 billion riyals by 2030, stressing that the Ministry of Investment is working to support this growth and provide economic incentives that maximize the returns of such qualitative investments on the Kingdom’s economy.
Fahd bin Abdul Mohsen Al-Rasheed, CEO of the Royal Commission for Riyadh, said: We welcome the Alibaba Cloud Company in Riyadh, which has become a global city that opens its doors to all visitors and investors, and where huge projects are held that contribute to strengthening and developing the economic system and the quality of life in the city.
He explained that Riyadh is the capital of the largest economy in the region and is the best seat for global and regional companies and institutions.
This new investment comes after the Kingdom’s adoption of policies and legislation that stimulate investment in the cloud computing sector, such as the policy of cloud computing first, an indication of the durability of the digital infrastructure in the Kingdom and the development of the regulatory environment and the environment for doing business.
The impact of the qualitative leaps achieved by the Kingdom in international digital indicators were also reflected in investor confidence.
Cloud computing drives innovation and provides creative platforms for entrepreneurs to enter the market quickly and at the lowest costs.