Al-Swaha: SEZ to Promote Saudi Arabia's Regional Leadership as Global Investment Hub

Business

April 15th, 8:39am

Asharq Al-Awsat

Al-Swaha: SEZ to Promote Saudi Arabia's Regional Leadership as Global Investment Hub

Saudi Minister of Communications and Information Technology Eng. Abdullah Al-Swaha lauded the launching of the Cloud Computing Special Economic Zone (SEZ ), expressing his gratitude to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and the Crown Prince for launching it along other three zones across the Kingdom. Al-Swaha said that the Cloud Computing SEZ will promote Saudi Arabia's position and regional leadership as a global investment hub, opening new perspectives for development and supporting the growth of the digital economy. "The Cloud Computing SEZ, along with the other three zones, will diversify the national economy and increase non-oil resources and investment in emerging companies, thereby training and hiring national capacities and supporting entrepreneurs through cloud services, in addition to supporting innovation and academic research and the establishment of a regional developers community," state news agency SPA quoted Al-Swaha as saying. Also, Governor of Communications, Space and Technology Commission (CST) Dr. Mohammed Altamimi thanked "the wise leadership for launching the zone to be governed and managed by CST in collaboration with the Economic Cities and Special Zones Authority (ECZA) and success partners," affirming that the zone aims to attract global cloud computing companies, which will play a key role in stimulating the adoption of modern technologies and Industry X.O. "The zone will promote the Kingdom's reputation as an investment destination for technology companies in the region and as a vital centre with flexible systems, competitive advantages and special systems and regulations. The incentives and exemptions offered to companies will maximize the influence of the presence of small companies and establish an ecosystem of tech companies and jobs in specific tech majors such as AI, Machine Learning, quantum computing, Blockchain and other advanced technologies." According to SPA, Saudi Arabia is one of the first countries to adopt specific regulations and regulatory frameworks for cloud computing providers, which aims to encourage the public and private sectors to adopt Cloud services rather than traditional IT solutions. CST's role lies in regulating the ICT sector in Saudi Arabia by implementing policies, regulations, and approved programs to develop IT and Emerging Technologies, putting the appropriate procedures and proposing related regulations, and coordinating with the competent entities to adopt them. The commission ensures a competitive environment and issues the required licenses according to the Kingdom's regulations and conditions.

from Asharq AL-awsat https://english.aawsat.com/home/article/4274836/al-swaha-sez-promote-saudi-arabias-regional-leadership-global-investment-hub