eWTP Arabia Capital supported Alibaba Cloud to set up two data centers in Saudi Arabia

(Yicai Global) July 6 – eWTP Arabia Capital helped the cloud computing division of Chinese internet giant Alibaba Group Holding open two data centers in Saudi Arabia last month to boost the development of the Middle Country’s digital sector -East.

It marks the latest partnership between Chinese companies with a wealth of experience in the digital economy and the world’s largest oil exporter, which has become a regional leader in cloud technologies, as the digital economy becomes a new driver of global development.

The data centers are located in Riyadh and provide localized cloud services to customers. They are managed by a joint venture between the two parties and Saudi Telecom, called Saudi Cloud Computing Company (SCCC).

Saudi Arabia is currently the largest cloud services market in the Middle East and the Arab world. It is expected to be worth SAR 25 billion ($6.7 billion) by 2030 as the market is huge, the country’s Ministry of Communications and Information Technology said.

“Saudi Arabia has made great strides in providing a scalable and secure information technology infrastructure to meet the needs of powerful and secure cloud service products in the digital age,” the CEO said. of Saudi Telecom, Olayan Mohammed Alwetaid. “We are very pleased to partner with Alibaba Cloud, which will leverage its technical expertise and industry know-how to help us secure more customers through digital innovation,” he added.

“This partnership which is of major strategic importance has finally come to fruition after more than two years of effort,” Jerry Li, Founder and Managing Partner of eWTP Arabia Capital, told Yicai Global. “We believe Alibaba Cloud can provide mature services to Saudi Telecom customers with its world-class cloud technology and digital solutions,” Li said.

Alibaba Cloud, which operates in 84 areas in 27 countries and regions, has strong global operational capabilities and can provide the construction of Saudi cloud services with reliable guarantees. The Hangzhou-based company’s cloud computing infrastructure is the largest in Asia.

Investment Bridge

eWTP Arabia Capital is committed to serving as a gateway for Chinese companies seeking access to emerging markets. Backed by the Saudi Public Investment Fund in the Middle East and North Africa, the company aims to build a digital ecosystem in the region by investing in the latest digital and technology products and services available.

Founded in 2020, the company has already invested nearly $400 million, focusing on fifth-generation wireless networks, Internet of Things, cloud services, platform as a service, software as a service, logistics and fintech. It has helped 16 Chinese digital technology enterprises from various sectors to enter the Middle East and North Africa market, and 13 projects are already underway in the field.

Systemic opportunities in the Middle East and North Africa market represented by Saudi Arabia have long been ignored and neglected, Li said. Valuing local industrial transformation can lay the foundation for further expansion. global business from China and other regions other than the Middle East and North Africa.

As a notable example, the company brought Indonesian courier giant J&T Express to the region. J&T announced in February that it would establish its Middle East and North Africa headquarters in Riyadh and build the region’s largest smart logistics park. The company now employs over 1,000 people in Saudi Arabia.

Four of the projects in eWTP Arabia Capital’s portfolio are expected to go public next year, including two listed on the Saudi Tadawul Stock Exchange, he said.

Publishers: Chen Juan, Kim Taylor

Ramon J. Espinoza