“Ignite” to boost digital content creation and media production in Saudi Arabia with US$1.1 billion investment
RIYADH, Saudi Arabia, February 2, 2022 /CNW/ – Saudi Arabia today announced Ignite, a new program for the creation and production of digital content, new investments and support for next-generation connectivity and communications infrastructure; and a partnership that will see Trend Micro open its regional headquarters to Riyadh. The announcements were made during LEAP22, the global technology platform taking place at Riyadh.
The new program and investments are all part of Saudi Arabia plans to accelerate its digital ecosystem and leverage its position in the MENA region to become a leading international digital economy.
The Digital Content Council has announced Ignite, a new program that will transform Saudi Arabia in a leading digital entertainment and multimedia production center. The program aims to create a comprehensive ecosystem that will attract digital content companies and grow the local media and content creation sector.
Ignite aims to triple Saudi Arabia digital content market size in games, audio, video and advertising. The program is supported by a US$1.1 billion investment, with incentives including financial support for local, regional and international companies and start-ups; infrastructure development; talent development programs and improved policies and regulations.
The program includes funds to support local film and game industries. Saudi Arabia will also strengthen intellectual property protections and provide a one-stop shop to streamline processes for investors.
LAUNCH OF CITC WiFi 6E AND LEO SATELLITE TECHNOLOGY
The Kingdom has announced the launch of WiFi 6E, backed by the largest amount of spectrum available for WiFi of any country in the world. The combination of state-of-the-art technology and a record amount of spectrum will allow Saudi Arabia to benefit from the fastest Wi-Fi speeds in the world (2.4 Gbit/s). Enabling this advanced connectivity is expected to quadruple Wi-Fi’s overall contribution to Saudi Arabia GDP rising from US$4.7 billion in 2021 to more than 18 billion US dollars by 2030.
The Kingdom’s WiFi upgrade is supported by other initiatives, including the first regional trial of Low Earth Orbit (LEO) satellite technology to extend reliable coverage to remote areas of the Kingdom. The CITC will also hold a spectrum auction in the first half of this year, a development that is expected to put Saudi Arabia first in the world for available spectrum for 5G networks.
TREND MICRO ANNOUNCES LOCAL DATA LAKE AND OPENS ITS Riyadh HQ
Trend Micro has announced the opening of its Middle East & Africa (MEA) headquartered in Riyadha security data lake, a cybersecurity center of excellence and other investments in Saudi Arabia totaling more $50 million. The investments are intended to amplify Trend Micro’s ongoing commitment to protecting public and private organizations in the Kingdom and across the region.
LEAP is poised to become the world’s largest technology platform, shining a light on the global innovation ecosystem, connecting pioneers and disruptors with business and government leaders, entrepreneurs and investors to discover and learn more about the technologies of the future.
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