MENA Hub Investment Valued $1bln Launched by stc, to boost Digitization & Support Economic Growth

On the sidelines of the LEAP International Conference, kicked off in Riyadh, stc launched an initiative to establish, across the Middle East and North Africa (MENA) region’s hub, with an investment worth $1 billion, as an affirmation of Saudi Arabia’s leadership, in the ICT sector, in the region, and the enormous-cum-exciting potentials, it possesses.

As the largest telecommunications company in the Middle East, with the aim of enabling growth, stc is functioning as a main driving force, to augment the Kingdom’s economy and GDP.

Such a move is a result of collaboration with regional and international partners.

The center will link 3 continents, benefiting from the strategic location of the Kingdom, and promoting investment in international communication services and data centers.

It will include the installation of several highly efficient cables to meet the future requirements of cloud services, by investing in an advanced fiber optic network, that ensures continuous service availability.

“stc is committed to being a pioneer in digital empowerment to achieve the Kingdom Vision 2030, by developing digital businesses, so that the Kingdom will be the hub of the region and link the three continents.

In addition to attracting foreign direct as well as indirect investment and stimulating more local investments.

From this standpoint, we have built a major center in the region to turn our goals into reality,” stc CEO Olayan Al Wetaid remarked.

Modern technologies such as 5G, artificial intelligence and augmented reality are used in stc’s recent products and services, while innovative technologies, such as the Internet of Things and cloud technology, which are accelerating achieving sustainability goals.

Thus, we provide impartiality and transparency to the products of the Saudi market, in line with business sustainability, through the diversity and flexibility of its assets.

This comes by creating the right environment for an open market concept that enriches the ecosystem, in developing countries, where all customers and partners (content providers, cloud providers, international and national carriers) can communicate directly or through other means of communications.