Saudi Arabia Secures Position as the MENA Region’s Largest Digital Economy With $6.4bn Investment

Saudi Arabia Secures Position as the MENA Region’s Largest Digital Economy With $6.4bn Investment

The investments and initiatives include the launch of Aramco Venture ’s Prosperity7 fund with $1billion, and a billion dollar investment from NEOM Tech & Digital Company with a focus on future technologies. As part of its investment, NEOM announced the launch of the world’s first cognitive metaverse , XVRS that will serve residents and visitors of the smart giga-project, and M3LD , a personal data management platform that gives back control of data to the user. stc announced MENA HUB , a $1billion investment in regional connectivity and infrastructure, which will support Saudi Arabia’s rapidly expanding digital and cloud sector . LEAP also saw the launch of The Garage , a new platform for start-ups, investment and entrepreneurship by King Abdulaziz City for Science and Technology (KACST). The Garage will create a full-service environment for local and international start-ups, to help them grow to become the leading technology companies of the future. J&T Express Group , a logistics company, announced an investment of $2billion with eWTP Arabia Capital and other partners. The investment will see J&T establish its MENA headquarters in Riyadh, and set up an extensive network of smart logistics and distribution facilities that will extend Saudi Arabia’s reach