Saudi Arabia says tech giants to invest more than $9 billion in kingdom

Visitors observing the modern innovations during at LEAP, an international technology forum taking place in Riyadh, Saudi Arabia, on February 6, 2023. (Photo courtesy: @LEAPandInnovate/Twitter)
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Updated 06 February 2023

Saudi Arabia says tech giants to invest more than $9 billion in kingdom

  • US giants Microsoft and Oracle Corp are building cloud regions in the kingdom
  • Saudi officials have pressed international companies to move their regional headquarters to Riyadh

RIYADH: Saudi Arabia has attracted more than $9 billion in investments in future technologies, including by US giants Microsoft and Oracle Corp, which are building cloud regions in the kingdom, a government minister said on Monday.

Saudi Minister of Communication and Information Technology Abdullah Alswaha said Microsoft will invest $2.1 billion in a global super-scaler cloud, while Oracle has committed $1.5 billion to build a new cloud region in Riyadh.

"The investments... will enhance the kingdom of Saudi Arabia's position as the largest digital market in the Middle East and North Africa," Alswaha said at LEAP, an international technology forum taking place in Riyadh.

Alswaha did not give details on the timeframe. Oracle told Reuters the investment will be made over several years.

Saudi officials have pressed international companies to invest in the kingdom and move their regional headquarters to Riyadh in order to benefit from government contracts.

The kingdom has been pouring hundreds of billions of dollars into an economic plan, known as Vision 2030, led by Crown Prince Mohammed bin Salman, with the aim to diversify the economy away from oil.

The minister said China's Huawei will also invest $400 million in cloud infrastructure for its services in Saudi Arabia and another cloud region in partnership with oil giant Aramco.

An additional $4.5 billion was invested in global and local assets across multiple sectors at the forum, Alswaha added.

Tonomus, a subsidiary of the $500 billion signature NEOM project of the crown prince, said last year it invested $1 billion in 2022 in AI, including a metaverse platform.

Increased demand for cloud computing has pushed technology companies such as Oracle, Microsoft, Amazon  and Alphabet's Google to set up data centres across the world to speed up data transfer.


Saudi foreign minister urges developing cooperation with BRICS to achieve prosperity

Updated 03 June 2023

Saudi foreign minister urges developing cooperation with BRICS to achieve prosperity

  • The Saudi foreign minister attended on Friday a ministerial meeting of the Friends of BRICS in South Africa
  • In his speech, Prince Faisal bin Farhan said the Kingdom was keen to advance future cooperation with BRICS

CAPE TOWN: Saudi Arabia is keen to develop future cooperation with the BRICS group to achieve collective prosperity, Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah said on Friday.

The BRICS group consists of Brazil, Russia, India, China and South Africa.

The Saudi foreign minister participated on Friday in the ministerial meeting of Friends of BRICS in Cape Town, South Africa, held under the theme, “Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism.”

In his speech at the meeting, Prince Faisal bin Farhan said that the Kingdom was keen to advance its future cooperation with BRICS by benefiting from the potential and capabilities possessed by both sides.

This aimed to fulfill joint interests and achieve prosperity for all, the foreign minister said.

Saudi Arabia was the BRICS group’s largest commercial partner in the Middle East, Prince Faisal said, affirming that trade relations with the BRICS countries had witnessed great growth.

“This reflects the growing and developed relations with the countries of the group,” he said.

The total value of bilateral trade with the countries of the BRICS group increased from $81 billion in 2017 and $128 billion in 2021 to surpass $160 billion last year, the foreign minister said.

The Kingdom shared basic values with the BRICS countries, represented in the belief that relations between countries were based on the principles of respect for sovereignty, non-interference and adherence to international law, Prince Faisal said.

These principles also included the existence of multilateral frameworks and collective action as reference points in the face of mutual challenges.

Saudi Arabia, along with BRICS countries, also believed in the importance of peace, security and stability in order to refocus efforts toward national development and common prosperity, Prince Faisal said.

The Kingdom maintained its commitment to working with international partners to achieve the UN Sustainable Development Goals by 2030, he said.

He added that Saudi Arabia also worked on intensifying global efforts to enhance food and energy security amid recurring crises and supply-chain issues.

The Kingdom was a pioneering country worldwide in humanitarian and development aid and was among the top 10 donors to low- and middle-income countries, Prince Faisal said.

Dr. Abdulrahman Al-Rassi, undersecretary of the foreign affairs ministry for international multilateral affairs, and Saudi Ambassador to South Africa Sultan Al-Liwiahan Al-Anqary were also part of the Saudi delegation at the meeting.


Saudi foreign minister urges developing cooperation with BRICS to achieve prosperity

Updated 03 June 2023

Saudi foreign minister urges developing cooperation with BRICS to achieve prosperity

CAPE TOWN: Saudi Arabia is keen to develop future cooperation with the BRICS group to achieve collective prosperity, Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah said on Friday.

The BRICS group consists of Brazil, Russia, India, China and South Africa.

The Saudi foreign minister participated on Friday in the ministerial meeting of Friends of BRICS in Cape Town, South Africa, held under the theme, “Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism.”

In his speech at the meeting, Prince Faisal bin Farhan said that the Kingdom was keen to advance its future cooperation with BRICS by benefiting from the potential and capabilities possessed by both sides.

This aimed to fulfill joint interests and achieve prosperity for all, the foreign minister said.

Saudi Arabia was the BRICS group’s largest commercial partner in the Middle East, Prince Faisal said, affirming that trade relations with the BRICS countries had witnessed great growth.

“This reflects the growing and developed relations with the countries of the group,” he said.

The total value of bilateral trade with the countries of the BRICS group increased from $81 billion in 2017 and $128 billion in 2021 to surpass $160 billion last year, the foreign minister said.

The Kingdom shared basic values with the BRICS countries, represented in the belief that relations between countries were based on the principles of respect for sovereignty, non-interference and adherence to international law, Prince Faisal said.

These principles also included the existence of multilateral frameworks and collective action as reference points in the face of mutual challenges.

Saudi Arabia, along with BRICS countries, also believed in the importance of peace, security and stability in order to refocus efforts toward national development and common prosperity, Prince Faisal said.

The Kingdom maintained its commitment to working with international partners to achieve the UN Sustainable Development Goals by 2030, he said.

He added that Saudi Arabia also worked on intensifying global efforts to enhance food and energy security amid recurring crises and supply-chain issues.

The Kingdom was a pioneering country worldwide in humanitarian and development aid and was among the top 10 donors to low- and middle-income countries, Prince Faisal said.

Dr. Abdulrahman Al-Rassi, undersecretary of the foreign affairs ministry for international multilateral affairs, and Saudi Ambassador to South Africa Sultan Al-Liwiahan Al-Anqary were also part of the Saudi delegation at the meeting.
 


Malaysian minister lauds Saudi Arabia’s Makkah Route initiative

Updated 01 June 2023

Malaysian minister lauds Saudi Arabia’s Makkah Route initiative

RIYADH: Malaysian Interior Minister Saifuddin Nasution praised Saudi Arabia’s Makkah Route initiative, facilitating the travel procedures of Hajj pilgrims from Malaysia.

The statement was made during Nasution’s visit on Wednesday to a hall dedicated to the initiative at Kuala Lumpur International Airport, where he was briefed on its readiness to facilitate pilgrims’ journey.

The Makkah Route initiative enables Hajj pilgrims from six countries to complete immigration, cargo and travel procedures before departing for the Kingdom.
 


Kenyan defense minister meets Islamic Military Counter Terrorism Coalition chief

Updated 31 May 2023

Kenyan defense minister meets Islamic Military Counter Terrorism Coalition chief

RIYADH: Secretary-General of the Islamic Military Counter Terrorism Coalition Maj. Gen. Mohammed bin Saeed Al-Moghedi met Kenyan Defense Minister Aden Bare Duale in Nairobi on Wednesday to discuss counterterrorism and violent extremism-related issues.

During his meeting with Al-Moghedi, the Kenyan minister praised the coalition’s framework – for military, counterterrorism, anti-terrorism financing, as well as intellectual and media matters – as a strategic pillar in fighting terrorism and violent extremism.

He added that terrorism has its roots in intellectual and ideological orientations, which constitute the basis of the extremist approach.

“Working on preparing the mindset and integrating it within the proper framework constitutes one of the proactive action pillars aimed to repress and contain extremist thinking,” Duale said.

Al-Moghedi said that strategic initiatives by the coalition in its counterterrorism efforts have taken into consideration the hierarchy of terrorist tendencies.

The secretary-general also spoke about social media and communication platforms, and their role in influencing users. He also discussed countering illegal terror financing through military support and assistance services.

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Who’s Who: Hussain AbdRab Al-Nabi, vice president at SAP South Europe, Middle East and Africa

Updated 31 May 2023

Who’s Who: Hussain AbdRab Al-Nabi, vice president at SAP South Europe, Middle East and Africa

Hussain AbdRab Al-Nabi is an innovation and strategy marketing leader and expert who has worked in both marketing and finance fields. He is vice president and head of marketing strategy at SAP South Europe, Middle East and Africa.

He has contributed significantly to SAP throughout his more than decade-long experience with the company.

As VP, his responsibilities include developing and implementing cohesive marketing strategies for Europe, the Middle East and Africa, and managing relationships with regional and global stakeholders across all departments.

AbdRab Al-Nabi is also executive marketing director at SAP for Saudi Arabia, Kuwait, Bahrain, Iraq, Syria, Pakistan and Afghanistan. His responsibilities cover seven countries and more than 13 major cities.

Before that, he worked as head of marketing transformation at SAP, where he led a team for restructuring the scope of marketing within the targeted countries.

In 2016, he was appointed marketing director for the newly segmented market unit of Saudi Arabia, Bahrain and Yemen, and as a financial services marketing program head for the MENA region. During that time, AbdRab Al-Nabi developed marketing programs for the financial services industry.

Previously at SAP, he was assigned as marketing lead for the public services and energy, and natural resources industries, and he worked closely with industry principles to drive a focused marketing plan.

He first joined SAP in 2011 as a country marketing manager, handling the marketing and demand generation initiatives in Saudi Arabian operations.

In 2008, AbdRab Al-Nabi worked at Zain Group as a segment manager of corporate marketing and acting head of business marketing.

Before that, he was a relationship manager in the commercial markets division at SAMBA Financial Group.

AbdRab Al-Nabi started his career in 2001 as a credit and marketing senior officer at ORIX Leasing company, and later worked as a financial controller at Arab National Bank.

He holds a bachelor’s degree in finance from King Fahd University of Petroleum and Minerals. AbdRab Al-Nabi completed the Esade executive leadership program and the Misk leaders program last year. He has also obtained certifications from the Association of International Product Marketing and Management.

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