$9 billion investment by tech giants in Saudi Arabia

Minister of Communications and Information Technology Saudi Arabia During the second Riyadh technology conference, LEAP 2023, he announced that large technology companies such as Microsoft And oracleThey invest more than 9 billion dollars in this country.

At the Riyadh International Technology Forum, it was pointed out that such investments could boost Saudi Arabia’s position as the largest digital market in the Middle East and North Africa.

The Minister of Communications of this country also confirmed during LEAP Microsoft It wants a figure of 2.1 billion dollars and Oracle also invests 1.5 billion dollars in Saudi Arabia to build new cloud computing centers in Riyadh.

Investment of large technology companies in Saudi Arabia

Tech companies seem to have big plans to expand their operations in Saudi Arabia. A specific schedule for these activities has not yet been proposed, however oracle In an interview with Reuters, he mentioned that the company has been making such investments for several years.

Saudi authorities have pressured some international companies to invest in this country and set up their headquarters in this country. Riyadh transfer so that they can benefit from the benefits of government contracts. The country is following plans for 2023 in the field of technology and has set aside hundreds of billions of dollars for the economic plan known as Vision 2023. One of the parts of this plan is to attract foreign investors, which apparently this country wants to take good steps in this field.

The Minister of Communications and Information Technology of Saudi Arabia has also pointed out that Huawei will also invest 400 million dollars in the cloud infrastructure sector and to provide its services in Saudi Arabia, and will invest in a joint project with the oil giant Aramco.

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