German software maker SAP expects to generate fresh business inside Middle East as a result of Saudi Arabia’s “Vision 2030” plan, a senior executive at the company told CNBC.
There can be a big push toward cloud computing in Saudi Arabia, according to Luka Mucic, chief financial officer at SAP.
“Companies both inside private sector as well as inside public sector are actually looking for the agility in which you can gain inside cloud, to quickly adopt fresh business processes, fresh applications,” he told CNBC’s “Capital Connection” on Monday.
“Therefore, our investment into a local data center right inside Kingdom absolutely was strategic, along with we have a great growth plan behind This particular,” he added. “We have strong hopes for our business in Saudi Arabia.”
Last year, SAP said in which was launching a cloud hub inside country by partnering with the Saudi Ministry of Communication along with Information Technology. The goal of in which project can be to help with Kingdom’s digital goals, the company said.
The project will unfold over a period of four years along with include the establishment of a public cloud data center inside country, an open platform for local developers, along which has a center to support Saudi start-ups along with different companies.
Vision 2030 was formulated by Saudi Crown Prince Mohammed bin Salman to overhaul the country’s economy along with make in which less dependent on oil. The plan includes a greater focus on technology, including a network of data centers.
Last month, Saudi Arabia signed memorandums of understanding with U.S. companies including Google, Raytheon along with J.P. Morgan Chase. Social media platform Snap can be also reportedly in talks to set up shop inside Kingdom.