Saudi Telecom Company (STC) and eWTP Arabia Capital, a leading venture capital fund, said that they will partner with Alibaba Cloud, the digital technology backbone of Alibaba Group to provide high-performance public cloud service in the Kingdom.
Under the partnership, STC will be able to leverage the proven cloud-based technologies and services of Alibaba Cloud to accelerate the growth of local technology ecosystem, reported Saudi Press Agency (SPA).
Alibaba Cloud is planning to invest up to $500 million in the Kingdom over the next five years. The investment will including provide world-class comprehensive resources to help build sustainability and ensure localization.
In addition, a new office will be set up in Riyadh, to provide better services to local customers, also be the regional training and management centre for next chapter.
As one of the world’s top cloud providers, Alibaba Cloud’s public cloud offerings will cover the latest advancements on the public cloud platform which have been used to support the business of Alibaba Group, taking the digitalization of local enterprises and SMEs to the next level.
“Saudi Arabia is a strategic market for us. Alibaba Cloud is committed to delivering our best-in-class services, solutions as well as our business practices in digital transformation to the partners and customers we work with in the Kingdom,” said Jeff Zhang, CEO of Alibaba Cloud Intelligence, Partner of Alibaba Group.
“We will invest and provide a wide range of resources to support our partners locally.”
Abdullah Amer Al-Swaha, Minister of Communications and Information Technology (MCIT), commented that MCIT would like to support companies with wise foresight such as Alibaba Cloud, and they look forward to Alibaba Cloud’s future performance and contribution to Saudi Arabia’s Vision 2030.
“This collaboration is a significant milestone for STC in our efforts to contribute to Saudi Arabia’s Vision 2030 by introducing a trusted cloud service partner,” said Nasser Bin Sulaiman Al Nasser, CEO of STC Group.
“It’s pivotal for companies to deploy and maintain an elastic, scalable and secure IT infrastructure to keep competitive and innovative in the digital era. We are excited to partner with Alibaba Cloud to bring their expertise to our customers.”
Jerry Li, Managing Partner of eWTP Arabia Fund said: “eWTP Arabia Capital is committed to ensure that this partnership makes a strong effort towards realization of Vision 2030 goals. We are very proud and thankful to bring both these great companies together with the support of Saudi Federation for Cybersecurity Programming and Drones.
“We believe that this would support our portfolio companies as well as local startups, local ecosystem become more competitive in the future.”
Faisal Al-Khamisi, Chairman of Saudi Federation for Cybersecurity Programming and Drones, said: "Together we can make a difference and working with our local partners in Saudi will support the Kingdom to become one of the most innovative countries in the world."
Copyright 2021 Al Hilal Publishing and Marketing Group