Oracle brings $1.5bn of cloud investment to Saudi Arabia
Oracle's plan to expand its cloud services in the Middle East. They plan to open a third public cloud region in Riyadh, Saudi Arabia as part of a $1.5 billion investment. The new cloud region will join the existing cloud region in Jeddah and the planned region in the city of NEOM.
Oracle has signed a Memorandum of Understanding (MoU) with the Ministry of Communications and Information Technology (MCIT) in Saudi Arabia to help local businesses adopt cloud technology. As part of the MoU, Oracle will invest in the country and expand the capacity of its cloud region in Jeddah. The MoU was signed during a visit to Riyadh by Oracle CEO Safra Catz, in the presence of Haitham AlOhali, Vice Minister of MCIT.
The Minister of Investment of Saudi Arabia, His Excellency Khalid Al-Falih, announced that the country is committed to creating digital infrastructure to support future economies. Oracle's expansion of cloud computing capacity in Saudi Arabia will play a significant role in this effort. The Minister also stated that MISA (Ministry of Investment) will work to create an attractive environment for such investments by establishing special economic zones for industries like cloud computing and digital transformation.
As part of the MoU, Oracle will assist in setting up a new cloud region in the country and aligning it with government regulations and local data residency laws. Oracle will also help in promoting the growth of the cloud industry in Saudi Arabia in partnership with MCIT.
Oracle Cloud Infrastructure (OCI) offers customers choice in deploying their cloud services based on their regulations, data residency, and latency requirements. This includes options such as public regions, Dedicated Region, Oracle Exadata Cloud@Customer, and multicloud offerings. Oracle's investment is expected to accelerate cloud transformation in Saudi Arabia, support economic growth and contribute to the country's digital transformation as part of its Vision 2030.
Reference : totaltele , arabnews, nationalnews