Saudi Crown Prince Signs Bunch of Deals to Boost Saudi Arabia’s Tech Hopes

A slew of deals has come out of the Saudi Crown Prince Mohammed bin Salman’s foray to New York as part of the 2018 Saudi-U.S. CEO Forum, CNBC informs. Some of the deals involve Saudi Aramco, the largest energy company in the world, according to multiple memorandums of understanding released during the conference.

Among the deals that the Saudi royal signed are: an Aramco-Google partnership focused on national cloud services and other technology opportunities; a five year-content-led initiative between ITHRA, or the King Abdulaziz Center for World Culture, and National Geographic to propel Saudi Arabia as the region’s center for creativity and entertainment; and a partnership between Aramco and Raytheon to establish national cybersecurity services.

A memorandum between the Saudi Industrial Development Fund and J.P. Morgan Chase to explore collaboration in industrial financing in the Saudi kingdom was signed as well. Another deal includes a partnership between Alrushaid and International SOS to provide medical services in the kingdom with a focus on remote area clinics.

The crown prince has formulated Saudi Arabia’s Vision 2030 as a plan to overhaul the economy that includes a greater focus on technology. A network of data centers is expected to provide the main framework for the plan’s goals, CNBC adds.

Vision 2030 aims to pave Saudi Arabia’s path from an oil-dependent economy to a Middle East hub of international trade and commerce at the crossroads of Asia, Europe and Africa.

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