Crown prince is putting together a slew of deals to boost Saudi Arabia's tech hopes

  • Saudi Crown Prince Mohammed bin Salman's foray to New York has resulted in a slew of tech-related partnerships.
  • Several of the deals involve efforts between Saudi Aramco, the largest energy company in the world, and U.S. companies in technology initiatives.

A slew of deals has come out of the Saudi Crown Prince Mohammed bin Salman's foray to New York as part of the 2018 Saudi-U.S. CEO Forum.

Several of the deals involve Saudi Aramco, the largest energy company in the world, according to multiple memorandums of understanding released during the conference.

The deals entail:

  • An Aramco-Google partnership focused on national cloud services and other technology opportunities.
  • A five year-content-led initiative between ITHRA, or the King Abdulaziz Center for World Culture, and National Geographic to propel Saudi Arabia as the region's center for creativity and entertainment.
  • A partnership between Aramco and Raytheon to establish national cybersecurity services.
  • A memorandum between the Saudi Industrial Development Fund and J.P. Morgan Chase to explore collaboration in industrial financing in the Saudi kingdom.
  • A partnership between Alrushaid and International SOS to provide medical services in the kingdom with a focus on remote area clinics.

The crown prince has formulated Saudi Arabia's Vision 2030 as a plan to overhaul the economy that includes a greater focus on technology. A network of data centers is expected to provide the main framework for the plan's goals.

Vision 2030 aims to pave Saudi Arabia's path from an oil-dependent economy to a Middle East hub of international trade and commerce at the crossroads of Asia, Europe and Africa.