Chinese tech giant Huawei has signed an agreement with Kaden investment to launch its largest store in Saudi Arabia outside of China, set to be operational in 2022.
During the signing ceremony at the Ministry of investment headquarters in Riyadh, Saudi Investment Minister, Khalid al-Falih highlighted the importance of investing in information and communications technology, as well as energy and Entertainment, which are key pillars of the kingdom's Vision 2030 development plan. Al-Falih noted that the agreement with Huawei is a symbol of the prosperity that comes from long-term partnerships in this regard.
Terry He, CEO of Huawei Tech Investment in Saudi Arabia, said that the kingdom is a very important market for the Chinese company, expressing his pleasure in announcing the next step in Huawei's commitment to Saudi Arabia, opening its largest flagship store in the overseas market.
Huawei has signed an agreement with Kaden Investment Saudi Arabia to open a store that will allow the Chinese company to reach consumers directly in light of the growing demand for digital products and services in the kingdom, the Ministry of investment said in a statement.
Last year, the Saudi data and artificial intelligence Authority signed a memorandum of Understanding (MoU) with Huawei to support the use of Arabic language and its symbols in artificial intelligence technology with the help of researchers from the Kingdom and Huawei.