Saudi Arabia all set to be the epicenter of operations for cloud computing technologies STC, eWTP Arabia Capital and Alibaba Cloud forge partnership

Saudi Arabia all set to be the epicenter of operations for cloud computing technologies STC, eWTP Arabia Capital and Alibaba Cloud forge partnership

Riyadh, Dec 28, 2020, SPA -- Saudi Telecom Company (STC), the largest telecom operator in the Kingdom, and eWTP Arabia Capital, one of the largest venture capital funds in the region, jointly announced today that they will partner with Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group to provide the high-performance public cloud service in the Kingdom of Saudi Arabia.

The company views the Kingdom as the strategic epicenter of its operations in the region and is keen to make its contribution to Saudi Arabia's Vision 2030.

Under this partnership, STC will be able to leverage the proven cloud-based technologies and services of Alibaba Cloud to accelerate the growth of local technology ecosystem.

Alibaba Cloud is planning to invest in the Kingdom, up to USD 500 million over the next five years. The investment will including provide world-class comprehensive resources to help build sustainability and ensure localization.

In addition, a new office will be set up in Riyadh, to provide better services to local customers, also be the regional training and management center for next chapter.

As one of the world's top cloud providers, Alibaba Cloud's public cloud offerings will cover the latest advancements