(MENAFN- Trend News Agency)
Saudi Arabia has attracted more than $9 billion in investments
in future technologies, including by U.S. giants Microsoft and
Oracle Corp, which are building cloud regions in the kingdom, a
government minister said on Monday, trend reports citing reuters .
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.
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