Saudi Arabia announces $9bn in future tech investment at LEAP23 : US Pioneer Global VC DIFCHQ Riyadh UAE-Singapore Norway Swiss Our Mind

Microsoft, Oracle, Huawei and Zoom among the big spenders at LEAP23 in Saudi Arabia

A Dawn of a New Era and Limitless Possibilities in #Saudiarabia!
As part of its Vision 2030 goal to raise non-oil GDP to 50%, Saudi Arabia is making substantial #investments to upgrade its digital environment and spur growth. The LEAPandInnovate which supports advancements in #technology such as #5G, #AI, 3D printing, #robotics, #fintech, #biotechnology, #IoT, and the #startups ecosystem, is an essential component of the nation’s aim to become a leading player in technology. By 2025, the country plans to allocate $24.7 billion towards driving its #digital agenda.
The modernization of the country’s infrastructure through network #investments and the deployment of 5G and other digital technologies is crucial for enhancing competitiveness and improving the global #market. Collaboration between the #government, private sector, and international partners offers valuable resources, expertise, and support for the advancement of Vision 2030. In the coming years, the focus will be on expanding network coverage, increasing accessibility to digital services, and providing equal #opportunities for all to benefit from #digitalization.
Highlights from the first day
📌Meta announces the first #Metaverse Academy in #MENA
📌Zoom partnering with aramco to expand cloud services to the kingdom
📌Huawei  announces  launching a #cloud area. 400 M investment value
📌Oracle expanding its buisness to the kingdom (1.5 b investment value)
📌Microsoft  plans to invest in a  global super scale cloud in Saudi (2.1 b)

Saudi Arabia has announced more than $9bn in technology investments on the sidelines of the LEAP23 event in Riyadh.

LEAP23 began in Riyadh on Monday with the announcement of more than $9bn in investments to support future technologies, digital entrepreneurship, tech start-ups, and enhance Saudi Arabia’s position as the largest digital market in the Middle East and North Africa.

https://www.arabianbusiness.com/industries/technology/saudi-arabia-announces-9bn-in-future-tech-at-leap23