Saudi Telecommunications Corporation (STC) and venture capital fund eWTP Arabia Capital jointly announced a partnership with cloud service provider Alibaba Cloud to provide Saudi Arabia with high-performance public cloud services.
Through cooperation, Saudi telecommunications companies will be able to use Alibaba Cloud’s proven cloud-based technologies and services to accelerate the growth of the local technology ecosystem.
Alibaba Cloud’s international headquarters is located in Singapore. It provides a comprehensive set of cloud computing services for global enterprises. Its rich and diverse ecosystem includes e-commerce, payment, logistics, and supply chain management solutions.
As part of the partnership, Alibaba Cloud plans to invest US$500 million in Saudi Arabia in the next five years. In addition, the company will set up a new office in Riyadh to provide better service and training to local customers.
In recent years, Saudi Arabia has taken major measures to become the center of cloud computing technology operations. Last week, Saudi Aramco Development Corporation, a subsidiary of oil producer Saudi Aramco, announced that it has partnered with Google Cloud to provide high-performance, low-latency cloud services to Saudi Arabia’s corporate customers.
The company said that Google Cloud will establish and operate a new cloud area in Saudi Arabia, and at the same time, after obtaining all necessary regulatory permits, it will establish a new company to provide cloud solutions and services to corporate customers, with a focus on Saudi Arabia’s domestic enterprise.
(Via)
