Public Investment Fund (PIF), which is the Kingdom of Saudi Arabia’s sovereign wealth fund, has entered into a Memorandum of Understanding (MoU) with the Saudi Information Technology Company (SITE), and Microsoft, to explore the delivery of Microsoft’s sovereign-cloud services in Saudi Arabia.
In a press release, PIF said that under the MoU, Microsoft will work alongside PIF and SITE to assess how its sovereign-cloud model can further support Saudi Arabia’s security, compliance and data residency priorities, while providing access to advanced cloud and AI technologies.
The initiative aims to enhance the security, confidentiality and sovereignty of data within Saudi Arabia and to access cutting-edge cloud and AI technologies. The MoU also aims to strengthen collaboration in areas such as joint research, development and innovation, and knowledge transfer.
The MoU is part of PIF’s wider strategy to empower the kingdom’s information and communication technology sector so that it can help position Saudi Arabia as a globally competitive technology hub. PIF’s investments prioritize innovation and building capacity, in its mission to enable the development and diversification of the domestic economy.
SITE, a PIF-owned company, is a national technology operator advancing secure digital transformation across Saudi Arabia. Since 2017, SITE has been delivering secure-by-design solutions in cybersecurity, cloud services, systems integration and human capital development to support the needs of Saudi organizations in both public and private sectors.
The non-binding MoU is subject to satisfying certain necessary requirements and regulatory approvals, as applicable.
