stc Launches ‘MENA Hub’ with an Investment of 1 Billion USD
stc announced the launch of its initiative to establish a major digital hub “MENA Hub” for the Middle East and North Africa with an investment of 1 billion USD, which ensures the leading position of KSA across the ICT sector and stc’s role as leading player in the region, and aims to enable the Kingdom’s economy growth and gross domestic product. The launch came in on the sideline of LEAP International Conference, which kicked off today in the capital, Riyadh. This comes in cooperation with regional and international partners. The hub will link three continents, benefiting from the strategic location of the Kingdom, and promoting investment in international communication services and data centers. The hub will include the installation of a number of highly efficient cables to meet the future requirements of cloud services, by investing in an advanced fiber optic network that ensures continuous availability of services.
“stc is committed to be the digital pioneer to achieve KSA Vision 2030 by developing digital business so the Kingdom will be the regional hub and link the three continents. In addition to attracting direct and indirect foreign investments and stimulating more local investments. Hence, our goal is to build this property for the region and turn our goals to reality.”
Olayan AlWetaid, Group CEO, stc
Technologies such as 5G, artificial intelligence and augmented reality are used in stc’s innovative products and services, while new technologies such as the Internet of Things and cloud technology are accelerating in achieving sustainability goals. Therefore, stc provides 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.
“We are proud to contribute to transforming the digital industry in the Kingdom into a leading industrial power and a global logistics center, and the development of the local industrial sector, which puts Saudi Arabia at the forefront of global countries among data-dependent economies, stressing the transformation of business environments and the local community to be digitally connected in order to achieve an advanced digital economy.”
Olayan AlWetaid, Group CEO, stc
