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LEAP tech event to attract 11.9-bln-USD investments
By Xinhua Published: Mar 05, 2024 11:26 AM
People visit Huawei's booth at the LEAP 2024 in Riyadh, Saudi Arabia, on March 4, 2024. The LEAP Tech Conference 2024 kicked off here on Monday, aiming to attract 11.9 billion U.S. dollars in investments, according to the press release issued by the organizing committee.(Photo: Xinhua)

People visit Huawei's booth at the LEAP 2024 in Riyadh, Saudi Arabia, on March 4, 2024. The LEAP Tech Conference 2024 kicked off here on Monday, aiming to attract 11.9 billion U.S. dollars in investments, according to the press release issued by the organizing committee.(Photo: Xinhua)


 
A visitor talks with an exhibitor at the LEAP 2024 in Riyadh, Saudi Arabia, on March 4, 2024. The LEAP Tech Conference 2024 kicked off here on Monday, aiming to attract 11.9 billion U.S. dollars in investments, according to the press release issued by the organizing committee.(Photo: Xinhua)

A visitor talks with an exhibitor at the LEAP 2024 in Riyadh, Saudi Arabia, on March 4, 2024. The LEAP Tech Conference 2024 kicked off here on Monday, aiming to attract 11.9 billion U.S. dollars in investments, according to the press release issued by the organizing committee.(Photo: Xinhua)


 
A visitor looks at a robot at the LEAP 2024 in Riyadh, Saudi Arabia, on March 4, 2024. The LEAP Tech Conference 2024 kicked off here on Monday, aiming to attract 11.9 billion U.S. dollars in investments, according to the press release issued by the organizing committee.(Photo: Xinhua)

A visitor looks at a robot at the LEAP 2024 in Riyadh, Saudi Arabia, on March 4, 2024. The LEAP Tech Conference 2024 kicked off here on Monday, aiming to attract 11.9 billion U.S. dollars in investments, according to the press release issued by the organizing committee.(Photo: Xinhua)


 
A visitor looks at a robot at the LEAP 2024 in Riyadh, Saudi Arabia, on March 4, 2024. The LEAP Tech Conference 2024 kicked off here on Monday, aiming to attract 11.9 billion U.S. dollars in investments, according to the press release issued by the organizing committee.(Photo: Xinhua)

A visitor looks at a robot at the LEAP 2024 in Riyadh, Saudi Arabia, on March 4, 2024. The LEAP Tech Conference 2024 kicked off here on Monday, aiming to attract 11.9 billion U.S. dollars in investments, according to the press release issued by the organizing committee.(Photo: Xinhua)


 
The LEAP Tech Conference 2024 kicked off in the Saudi Arabian capital Riyadh on Monday, aiming to attract 11.9 billion U.S. dollars in investments, according to the press release issued by the organizing committee.

Saudi Minister of Communications and Information Technology Abdullah Alswaha said the event supports deep and emerging technologies, innovation, and cloud computing in the kingdom and worldwide.

The investments will go toward developing Saudi digital skills and supporting tech start-ups, said the minister, noting the kingdom expects the investments will help consolidate its position as the largest market and digital economy in the Middle East and North Africa.

Of the total investments, Amazon Web Services announced a 5.3-billion-dollar investment in a new cloud zone in Saudi Arabia; Datavolt announced a 5-billion-dollar investment in Saudi data centers with a capacity of more than 300 megawatts; IBM plans to invest 250 million dollars in a global software development center in the kingdom; ServiceNow will invest 500 million dollars to localize its regional services in Saudi Arabia.

Chinese companies including Huawei, Tencent, Alibaba Cloud SCCC (Saudi Cloud Computing Company), China Mobile International, DJI, J&T Express, and SenseTime MEA also participated in the exhibition.