According to reports in foreign media, Saudi Telecom Company, Aliyun and eWTP Capital, a fund supported by Saudi Arabia and Alibaba, have established a cooperation partnership to provide public cloud services in Saudi Arabia, with an investment of USD500 million in the next five years.
Aliyun will set up a new office in Riyadh.
It is said that the introduction of Aliyun is a part of Saudi Arabia's "2030 Vision Framework" published in 2016. This framework aims to reduce the country's dependence on oil through economic diversification.
Prior to this, Saudi Arabia also signed an agreement with Google Cloud for the provision of new data center regional and cloud services.