The Kingdom of Saudi Arabia is set to undergo a digital transformation with the collaboration between Saudi Aramco and Samsung Electronics through a non-binding MoU. This deal comes just after Aramco launched a new digital firm during the In-Kingdom Total Value Add Forum (iktva).
Samsung Electronics will localize the industrial 5G communications network, while Aramco will leverage advanced 4G and 5G technologies to provide secure, fast, and reliable communication means to meet the critical requirements of businesses operating in various industries.
Amin Nasser, Aramco’s president, and CEO, said the company is planning to invest $1.9 billion over the next three years, making it the biggest Aramco investment in digital to date, while adding value to the Kingdom’s digital ecosystem. Ahmad A. Al-Sa’adi, Aramco executive vice president of technical services, said the launch of Aramco digital company is a great example of innovation in action, providing state-of-the-art AI and emerging technology expertise in a vital sector of the economy.
According to a UN report by the International Telecommunication Union, Saudi Arabia is ranked fourth globally in its level of preparedness in digital systems. It also ranked second in digital system preparedness among the G20 members. And a report published by OpenSignal, in September 2022, highlighted that Saudi Arabia’s 5G experience is one of the best among countries in the Gulf Cooperation Council.