Saudi announces over $6.4bn investments in future tech Saudi Arabia today (February 1) announced more than $6.4 billion in investments in future technologies and entrepreneurship that will further secure the kingdom’s position as the Mena region’s largest digital economy. The announcements were made during the opening day of LEAP, the international technology platform, which is taking place in Riyadh until February 3. The investments and initiatives include the launch of Aramco Venture’s Prosperity7 fund with $1 billion, and a billion dollar investment from Neom Tech & Digital Company with a focus on future technologies. As part of its investment, Neom announced the launch of the world’s first cognitive metaverse, XVRS that will serve residents and visitors of the smart giga-project, and M3LD, a personal data management platform that gives back control of data to the user. The kingdom's top telecom company stc has launched Mena Hub, a $1 billion investment in regional connectivity and infrastructure, which will support Saudi Arabia’s rapidly expanding digital and cloud sector. LEAP also saw the launch of The Garage, a new platform for start-ups, investment and entrepreneurship by King Abdulaziz City for Science and Technology (KACST). The Garage will create a full-service environment for local and international start-ups, to help them grow to become the leading technology companies of the future. J&T Express Group, one of the world's fastest-growing logistics companies, announced an investment of $2 billion with eWTP Arabia Capital and other partners. The investment will see J&T establish its Mena headquarters in Riyadh, and set up an extensive network of smart logistics and distribution facilities that will extend Saudi Arabia’s reach as the regional center for advanced logistics. Saudi Arabia is the largest technology market in the Mena region, with a technology sector worth more than $40 billion. The new investments announced at LEAP22 are part of the Kingdom’s ongoing plans to transform into an innovation-based economy, which have already seen the country become one of the fastest-growing new markets for Fintech and digital content in the region. Saudi Minister of Communications and Information Technology Engineer Abdullah Alswaha said: "These investments and initiatives are a manifestation of the Kingdom’s push toward the growth of the digital economy for the greater good of people, the planet and the prosperity of the Mena region." "They mark the next level of growth for the digital economy in Saudi Arabia, the Mena region’s largest technology and digital market," he added.  During his keynote address at LEAP22, the Minister noted that Saudi Arabia is the regional leader for technology talent, with over 318,000 jobs in the technology sector in the Kingdom, and with a rate of participation of women in the ICT workforce that has jumped to 28% in recent years. Saudi Arabia is also home to some of the largest investments in cloud technology, with leading hyperscale cloud providers including Google, Alibaba, Oracle and SAP investing over $2.5 billion in cloud in the Kingdom. Entrepreneurship is also flourishing in Saudi Arabia, with venture capital investment in Saudi Arabia in 2021 exceeding the total for 2019 and 2020 combined. Source: Trade Arabia  2022-02-02 06:19:28 https://www.ld-export.com/upload/ld-export-de2744-large.jpg
Saudi announces over $6.4bn investments in future tech

Publié le mercredi 02 février 2022. Temps de lecture : 4 minutes

Saudi announces over $6.4bn investments in future tech

Saudi Arabia today (February 1) announced more than $6.4 billion in investments in future technologies and entrepreneurship that will further secure the kingdom’s position as the Mena region’s largest digital economy.

The announcements were made during the opening day of LEAP, the international technology platform, which is taking place in Riyadh until February 3.

The investments and initiatives include the launch of Aramco Venture’s Prosperity7 fund with $1 billion, and a billion dollar investment from Neom Tech & Digital Company with a focus on future technologies.

As part of its investment, Neom announced the launch of the world’s first cognitive metaverse, XVRS that will serve residents and visitors of the smart giga-project, and M3LD, a personal data management platform that gives back control of data to the user.

The kingdom's top telecom company stc has launched Mena Hub, a $1 billion investment in regional connectivity and infrastructure, which will support Saudi Arabia’s rapidly expanding digital and cloud sector.

LEAP also saw the launch of The Garage, a new platform for start-ups, investment and entrepreneurship by King Abdulaziz City for Science and Technology (KACST). The Garage will create a full-service environment for local and international start-ups, to help them grow to become the leading technology companies of the future.

J&T Express Group, one of the world's fastest-growing logistics companies, announced an investment of $2 billion with eWTP Arabia Capital and other partners.

The investment will see J&T establish its Mena headquarters in Riyadh, and set up an extensive network of smart logistics and distribution facilities that will extend Saudi Arabia’s reach as the regional center for advanced logistics.

Saudi Arabia is the largest technology market in the Mena region, with a technology sector worth more than $40 billion.

The new investments announced at LEAP22 are part of the Kingdom’s ongoing plans to transform into an innovation-based economy, which have already seen the country become one of the fastest-growing new markets for Fintech and digital content in the region.

Saudi Minister of Communications and Information Technology Engineer Abdullah Alswaha said:

"These investments and initiatives are a manifestation of the Kingdom’s push toward the growth of the digital economy for the greater good of people, the planet and the prosperity of the Mena region."

"They mark the next level of growth for the digital economy in Saudi Arabia, the Mena region’s largest technology and digital market," he added. 

During his keynote address at LEAP22, the Minister noted that Saudi Arabia is the regional leader for technology talent, with over 318,000 jobs in the technology sector in the Kingdom, and with a rate of participation of women in the ICT workforce that has jumped to 28% in recent years.

Saudi Arabia is also home to some of the largest investments in cloud technology, with leading hyperscale cloud providers including Google, Alibaba, Oracle and SAP investing over $2.5 billion in cloud in the Kingdom.

Entrepreneurship is also flourishing in Saudi Arabia, with venture capital investment in Saudi Arabia in 2021 exceeding the total for 2019 and 2020 combined.

Source: Trade Arabia 

Contactez-nous

info@ld-export.com +352 264 59 378

Nos clients européens

Fettweis Packaging
CT Vlees Conserven
Sanders
Mark Dedrie
kersia
afix
airdeck
Early Birds
E-power
Fabié
Lacroix
Seaowl
albam
alotch
arem
ascania premium
awex
bc collection
belgian butters
berghoff
be matrix
brigitte ermel
beton de bonte
bm service
carconnex
carglass
centre européen du cheval
centre européen du cheval linalux
chameleon
clayton steam systems
cobel plast
conpalux
copex
covivins
creme de la creme
dalog
daucy
decathlon
decometa
delhez bois
denis fils
dumas
edialux
efc
egg event
electrominde
eleonor
equi4s
ett
europower
fruitsnack
flaxseed
fleurance nature
france macaron
gova plast
guilmin
gymna
harol
indigo care
jide
jodoca
kaasbrik
kakoon
krono spam
laborex
lanaform
lecluyse
lemmens
les délices du chef
lorbersa
macobo
maison colom
mdb profil
medical placement
metagenics
moments
multicom
nagi
night-orient
ng biotech
olympia
outlet avenue
oxylent
paiting with light
parkeon
peters autosport
plastic poo
pmc colinet
procell
qtee
rob
sabma
sag industry
seyntex
sweet pack
tein technology
the smiling cook
ulg
vandezande
waterpro
zenith

Contactez-nous


Nous rassemblons et traitons les données à caractère personnel reçues de votre part via ce formulaire dans le cadre de la gestion de nos clients, de notre comptabilité et de notre marketing direct. En remplissant ce formulaire, vous donnez expressément votre accord à ce traitement (cochez la case « opt-in » ci-dessous). Vos données à caractère personnel ne seront transmises et conservées que dans la mesure et la durée rendues nécessaires par les finalités susnommées. Vous avez un droit de consultation, rectification, suppression et regard sur ces données. Le responsable du traitement est l’entreprise LD Export (38/16, Duarrefstrooss , 9990 Weiswampach). Pour de plus amples informations, vous pouvez consulter notre Data Protection Notice sur notre site Internet https://www.ld-export.com/fr/mentions-legales.html.