The agreements or memorandums of understanding were signed with various companies, including communications technology company Zoom…reports Asian Lite News
Saudi Aramco has signed over 100 deals valued at about $7.2 billion to help advance a diverse, sustainable and globally competitive industrial ecosystem in Saudi Arabia.
The agreements or memorandums of understanding were signed with various companies, including communications technology company Zoom, fintech business Taulia Inc and logistics company DHL, Xinhua news agency reported.
The signing took place during the 7th edition of the In-Kingdom Total Value Add (iktva) Forum and Exhibition. The iktva initiative encourages international companies to establish regional headquarters in Saudi Arabia.
“I am proud to announce a major new initiative in digital transformation with the launch of the Aramco Digital Company today. We are 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,” Arab News quoted Saudi Aramco’s president and CEO Amin Nasser as saying.
Another agreement signed by Aramco during the event was with Accenture to accelerate system integration and digital solution services, Arab News reported.
It also reached a deal with Achilles to develop and localise environmental, social, and governance rating services.
The Aramco chief told the audience that the iktva program achieved 63 percent local content in 2022, up from 35 percent in 2015 when it was initially launched. Saudi Energy Minister Prince Abdulaziz bin Salman later said he hoped that the local content would reach 85 percent by 2030, it was reported.