As part of the investment, the US-based technology major plans to launch a third public cloud region in Saudi Arabia
Oracle to launch a third public cloud region in Saudi Arabia. (Credit: M.O. Stevens/Wikimedia Commons)
Oracle has announced an investment of $1.5bn in Saudi Arabia to expand cloud infrastructure capabilities in the country.
In this regard, Oracle has signed a memorandum of understanding (MoU) with the Ministry of Communications and Information Technology (MCIT) to help businesses in the country benefit from the latest innovations in the cloud.
As part of the investment, the US-based technology major plans to launch a third public cloud region in Saudi Arabia.
Dubbed Oracle Cloud Riyadh Region, the new cloud infrastructure will join the existing Oracle Cloud Jeddah Region and the planned Oracle Cloud Region to be located in the NEOM smart city.
Oracle said that it will also increase the capacity of the Oracle Cloud Jeddah Region to more swiftly fulfil the demands of its expanding cloud business in Saudi Arabia.
Oracle EMEA technology executive vice president Richard Smith said: “Oracle’s investment will rapidly accelerate the cloud transformation across Saudi Arabia’s business and public sector.
“Oracle Cloud delivers pioneering innovation in technologies like AI, Machine Learning, and IoT, and it will help fuel the economic growth and digital transformation that is an integral part of the Saudi Vision 2030.”
Under the MoU, Oracle will collaborate with MCIT and the Communications and Information Technology Commission (CITC) to develop a commercial and operational model for an additional cloud region in the country.
The new cloud region will be in line with the requirements of the Saudi government and local data residency regulations.
Besides, the technology major will work together with MCIT to support the growth of Saudi Arabia’s cloud industry.
Saudi Arabia Minister of Investment Khalid Al-Falih said: “Oracle’s decision to expand its cloud computing capacity in the Kingdom will play a key role in unlocking the opportunities that rapid technological advancements are creating.
“MISA will continue in its quest to enable the building of a robust digital infrastructure, by creating an attractive environment for these investments—for example, by establishing special economic zones that are tailored to particular industries such as cloud computing and digital transformation.”