LEAP 2023 In Riyadh Sees US$9 Billion Worth Of Investments Made In Saudi Arabia’s Tech Sector – Entrepreneur

LEAP 2023 In Riyadh Sees US$9 Billion Worth Of Investments Made In Saudi Arabia’s Tech Sector – Entrepreneur

More than US$9 billion will be invested to enhance Saudi Arabia's position as the largest digital market in the MENA region, it was announced at the launch of the second edition of LEAP, which is running at the Riyadh Front Exhibition and Conference Centre from February 6-9, 2023.

The investments were revealed by H.E. Eng. Abdullah Alswaha, Saudi Arabia's Minister of Communications and Information Technology, with it including Microsoft's $2.1 billion to establish in a global super-scaler cloud in the Kingdom, Oracle's $1.5 billion to expand its MENA business by launching new cloud areas in KSA, Huawei's $400 million in cloud infrastructure for its services in the Kingdom, as well as the launch of a Zoom cloud area in the Kingdom, in partnership with Aramco. An additional $4.5 billion has also been invested in global and local assets across multiple sectors at the event.