Saudi Arabian ministries sign strategic deal with Korean IT group Naver

By Shilpa Annie Joseph, Official Reporter
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Saudi Arabia signs deal with Naver
Officials during the signing ceremony.

Saudi Arabia’s Ministry of Municipal, Rural Affairs, and Housing (MOMRAH) and the Ministry of Investment have signed an agreement with Korean group Naver as well as its key units, Naver Labs and Naver Cloud.

Naver is a leading IT company in Korea that covers cutting-edge technology fields such as AI, robotics, cloud, self-driving, and digital twins.

According to the statement, “Under the MoU, the parties aim to enhance cooperation to develop investment in the Kingdom of Saudi Arabia and to unify efforts with relevant authorities to achieve common goals.”

Furthermore, Naver, Naver Labs, and Naver Cloud will cooperate with the MOMRAH and the Ministry of Investment in conducting comprehensive ICT projects for digital transformation at the national level, such as building various digital services that Saudi Arabians can use easily and conveniently. Naver has become a partner of the MOMRAH.

The MoU was signed in the presence of the Minister of Municipal, Rural Affairs, and Housing, Mr. Majid Abdullah Al Hogail, and the Minister of Investment, Engineer Khalid Abdulaziz Al Falih.

The agreement was inked by the Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for Digital Transformation and Smart Cities, Mr. Musaed bin Abdullah Al Otaibi and the Undersecretary of the Ministry of Investment for Investment Development, Mr. Fahd bin Jamal Al-Naim.

In addition to the Neom City Project, the world’s largest smart city, Saudi Arabia is making various efforts for an omnidirectional digital transformation at the national level. As a result, the Middle East kingdom is paying much attention to global technology giants.

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