Saudi Arabian Oil Company (“Aramco”) and Advanced Electronics Company (“AEC”), a SAMI company, are collaborating to promote the localization of digital businesses in Saudi Arabia.
The two companies have signed a memorandum of understanding (MoU) to accelerate the Kingdom’s digital ecosystem development.
The partnership aims to support wider efforts to enable Internet of Things (IoT) technologies, computing and communication, robotics, drones, and semiconductors that complement the expansion of the digital ecosystem at large in the Kingdom.
Aramco has included the Industrial Digital Business (IDB) under the industrial investment program, Aramco Namaat, which aims to complement the establishment of various digital hubs in Saudi Arabia.
The program aims to maximize local content, contribute to GDP growth, create new jobs, accelerate digital talent development, and enhance Aramco’s reliability and operational efficiency.
Ahmad Al Sa’adi, Aramco SVP Technical Services, said: “This partnership aims to help us to develop technologies and local talent as we work with leading technology providers to add value to the company and wider economy.”
Ziad Al-Musallam, AEC President and CEO, said: “The cooperation with Aramco is expected to contribute to the efficiency and value of the supply chains in the industrial digital businesses, especially at the engineering, manufacturing, and services level, across many systems and products used in the ICT, security, and energy sectors.”
The program is designed to drive increased investment, economic diversification, job creation and workforce development within the Kingdom.