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Hong Kong welcomes Aramco to its stock exchange


$9 billion in technology giants’ investments in Saudi Arabia

John Lee, Chief Executive of Hong Kong, announced yesterday that the city will support oil giant Aramco if it wants to list its shares on its stock exchange.

John Lee said, in a post on his official Facebook page after a meeting with Amin Nasser, CEO of the Saudi group, that Hong Kong can deal with any investment opportunities and future financing arrangements for Aramco, according to Reuters.

On the other hand, Eng. Abdullah Al-Sawaha, the Saudi Minister of Communications and Information Technology, revealed, at the opening of the “LEAP 2023” conference in Riyadh yesterday, that some of the world’s top technology giants have invested more than $9 billion in the Kingdom.

He explained that Microsoft has invested $2.1 billion in a global super-wide cloud in the Kingdom, Oracle has invested $1.5 billion to expand its business by establishing a number of new cloud regions in Saudi Arabia, and Huawei has invested $400 million in cloud offerings in the Kingdom. And the establishment of a cloud area for “Zoom” services in the Kingdom, in partnership with “Aramco”, with investments amounting to $ 434 million, in addition to global and local investments of $ 4.5 billion in various fields.

Al-Sawaha pointed out that these huge investment packages came with the support of Prince Mohammed bin Salman, Crown Prince and Prime Minister, and his empowerment of the technology sector. Believing in the importance of benefiting from the open horizons and qualitative fields in its various digital economic forms.
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