Saudi Arabia announced an investment of 11.9 billion dollars in ‘Leap 24’

Saudi Arabia has announced an investment of $11.9 billion to develop digital skills and promote technology startups in the country.

According to the official news agency Saudi Press Agency (SPA), in the statement of the management committee of the exhibition, it is stated that the Minister of Communication and Information Technology of Saudi Arabia, Engineer Abdullah Al-Sawaha, on the occasion of the opening of the ‘Leap 24’ exhibition, said that this capital Kari announced.

The exhibition, which will continue until March 7 in Riyadh, aims to support complex and emerging technologies, innovation and cloud computing in Saudi Arabia and around the world.

Al-Sawaha highlighted Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman’s unwavering support for the Saudi and global technology sectors to support the growth and prosperity of the digital economy under Saudi Arabia’s Vision 2030.

The announcement said the investment will position Saudi Arabia as the largest market and digital economy in the Middle East and North Africa (MENA) for leading technology companies such as Amazon Web Services, IBM, DataVolt and ServiceNow. It will help to stabilize.

According to the announcement, on the first day of Leap 24, Amazon Web Services announced an investment of $5.3 billion in a new cloud zone in Saudi Arabia. Datavolt also announced an investment of $5 billion in Saudi data centers with a capacity of more than three hundred megawatts.

IBM plans to invest $250 million in a global software development center in Saudi Arabia. ServiceNow will invest $500 million to localize its regional services in Saudi Arabia. The project includes development programs to train Saudi Arabian talent.

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Computer maker Dell will open a manufacturing and distribution center in Saudi Arabia, the first of its kind in the region.

Oil company Aramco announced the establishment of the Saudi Accelerator Innovation Lab (SAIL). Aramco and MCIT jointly founded SAIL to strengthen Saudi Arabia’s digital capabilities and launch a ‘mate brain’ gene AI model. The company also announced the world’s first industrial grade GNAI ‘Aramco LLM’.

Datadog will establish the first cloud application security solutions academy in Saudi Arabia. UIPath announced the establishment of its first Automation Academy in the region to train, skill and develop talented Saudi nationals.