Saudi Arabia says tech giants to invest more than $9 billion in kingdom
Saudi Arabia says tech giants to invest more than $9 billion in kingdom/node/2245871/saudi-arabia
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)
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
Updated 06 February 2023
Reuters
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.
Balad Beast brings global beats to historic streets
‘MDLBEAST put us on the international map,’ say Saudi electronic duo Dish Dash
Updated 31 January 2026
Afshan Aziz
JEDDAH: The music festival Balad Beast concluded its fourth edition this weekend, having transformed Jeddah’s UNESCO World Heritage district of Al-Balad into an open-air celebration of music, culture and creativity that attracted thousands of music lovers over two nights.
The festival, organized by Saudi music platform MDLBEAST, featured more than 70 local, regional and international artists across four stages, offering audiences a diverse journey through electronic, hip-hop and global sounds.
French Haitian singer-songwriter Naïka performed on the second night of Balad Beast. (Supplied)
Speaking to Arab News, MDLBEAST chief creative officer Ahmad Al-Ammary, also known as DJ Baloo, described Balad Beast as a “cultural takeover” adding that finding the right spaces for dance floors was a challenge, “but Balad is constantly evolving and we work with that change.”
Addressing the challenges of working in a heritage area, he said: “Balad is sensitive and condensed, so logistics can be complex. In our first year, heavy rain flooded one of the planned squares and we had to relocate the Souq Stage to a much smaller space, but it worked and it has remained there ever since.
HIGHLIGHT
Reggae superstar Shaggy noted that the reality of playing live in Saudi Arabia often surprises those who arrive with preconceptions.
“Yes, the alleys are narrow and the district is old, but they’re full of ideas, patterns, colors and visuals. Everything flows here,” he continued. “As a festival, it’s hard to define Balad, because it gives so much of itself creatively. It’s incredibly generous with its ideas and details, and inspiration comes from everywhere.”
Balad Beast featured more than 70 local, regional and international artists across four stages, offering audiences a diverse journey through electronic, hip-hop and global sounds. (Supplied)
Balad Beast featured performances from international artists including US rapper Playboi Carti, making his first appearance in Saudi Arabia; US rapper Destroy Lonely; Swedish DJ and producer Alesso; and Bosnian-German DJ Solomun on the opening night. The following night saw French-Haitian singer-songwriter Naïka, reggae superstar Shaggy, Dutch DJ Franky Rizardo, British DJ Pawsa, and US rapper Tyga, and more take the stage, while Saudi and regional artists including Cosmicat, TUL8TE, Zeina, Vinyl Mode, Moayed, Dish Dash, Musab, Varoo and HiFi appeared across the festival, offering audiences a mix of global and local talent.
Saudi electronic duo Dish Dash reflected on the festival organizer’s impact for local artists.
As a festival, it’s hard to define Balad, because it gives so much of itself creatively. It’s incredibly generous with its ideas and details, and inspiration comes from everywhere.
Ahmad Al-Ammary, MDLBEAST chief creative officer
“MDLBEAST put us on the international map,” the brothers told Arab News. “It helped us get recognized by festivals, promoters and event organizers abroad. When we travel, people don’t expect this level of talent coming from Saudi Arabia, especially considering we didn’t have this scene before.”
Shaggy, who performed a hit-filled set during the festival, told Arab News: “I’ve been blessed with some incredible songs, and I see music as a gift and a tool for service. When I go on stage, I’m there to entertain people, to make them smile and feel good, but that service also supports many livelihoods from the people working at this festival to those who work with me. These songs have become part of people’s lives, and I don’t take that lightly.”
Balad Beast featured more than 70 local, regional and international artists across four stages, offering audiences a diverse journey through electronic, hip-hop and global sounds. (Supplied)
Shaggy also noted that the reality of playing live in Saudi Arabia often surprises those who arrive with preconceptions.
“I’ve performed in Saudi Arabia more than once, and while there are certain rules that are different, it’s not an issue for me. My focus is always on delivering the hits and giving the audience a great time,” he said.
“There’s a big misconception. People have more freedom than (outsiders) think. Everyone has been extremely nice.”
Asked what advice he would offer to aspiring artists, Shaggy said: “Understand that what you’re given is a gift and a form of service. Stay humble, do the work, and remember why you’re doing it.”
As Al-Ammary noted, there are many such aspiring artists now making a name for themselves in the Kingdom.
“Talent is emerging everywhere, at different levels,” he said. “The scene is still in a mysterious and surprising phase. There’s a rawness to it.”