Saudi Arabia has recently announced a range of initiatives and technological programmes worth over $1 billion.
The move is in line with the Kingdom’s vision to seize the opportunities of the digital economy and become a destination for local and global entrepreneurs, innovators and programmers.
The billion-dollar announcement was made during the Launch event, which was hosted by the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), as well as the Ministry of Communications and Information Technology (MCIT), and the Saudi Data and Artificial Intelligence Authority (SDAIA).
Saudi Arabia Announces Biggest Tech Launch of Programs, Investment Funds worth SAR4 Billion.https://t.co/VyntOtUibi#SPAGOV pic.twitter.com/jsR10IR6BQ
— SPAENG (@Spa_Eng) August 25, 2021
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Leading technology companies including Google, Amazon, IBM, Cisco, Oracle, Microsoft, Trend Micro and Avance Security have affirmed their support for the initiatives and have agreed to launch training programmes in centres specialising in raising the digital capabilities of young Saudis.
At the event, three major initiatives namely Tuwaiq, Hemmah and Qemmah were also unveiled to raise the digital capabilities of female and male youths in the fields of programming, enhance trust between technological companies and funding agencies and encourage innovation and creativity through central gatherings and platforms.
The event also saw the launch of the Saudi-Chinese eWTP Arabia Capital Fund, which seeks to support emerging technology companies in the Kingdom with a capital of SAR1.5 billion, in partnership between the Chinese eWTp backed by Alibaba and the Public Investment Fund with the support of the Saudi Federation for cybersecurity, programming and drones to contribute to supporting a solid economic system for digital business in the Kingdom.
Under the partnership, Alibaba Cloud will cooperate with local partners in the region over the coming five years in academies, training and innovation centres in the Kingdom to build and develop capabilities in technological fields, to support the Kingdom of Saudi Arabia’s Vision 2030.
Furthermore, it was announced that the Kingdom will organise and host the global tech event ‘Leap’ next year. Saudi Arabia will host the RiseUp Summit in Riyadh, the biggest of its kind in the Middle East and North Africa for entrepreneurs and start-ups.
