Saudi: AlUla signs IBM to implement smart city project

Saudi: AlUla signs IBM to implement smart city project

Saudi Arabia - The Royal Commission of AlUla and US technology mega-giant IBM have signed an agreement to help implement AlUla’s Smart City policy at the Future Investment Initiative (FII6) in Riyadh.

The Saudi Ministry of Investment (MISA) also signed an agreement with Brazilian tech company Ocellott, aimed at collaborating to develop an innovative propulsion battery system for future projects of electric vehicles at the event.

During the final day of FII6, Minister of Investment Eng Khalid Al-Falih was a lead participant at Saudi Arabia’s premier international investment forum, sharing global economic and investment perspectives alongside leading CEOs and government leaders and other experts from around the world.

MISA officials also provided further details on the Global Supply Chain Resilience Initiative (GSCRI) launched October 23 to attract supply chains to Saudi Arabia in strategic sectors where the Kingdom has a competitive advantage.

A central pillar of the National Investment Strategy launched a year ago, GSCRI aims to enable global investors to create low-risk, low-cost and low-carbon supply chains leveraging the Kingdom’s natural resources, strong logistics infrastructure and untapped potential. In its launch phase, the initiative aims to attract more than US$10bn of industrial and service investments in global supply chains to the Kingdom in