Strategic project aims to enhance IoT industry in Saudi Arabia
China Telecom Global (CTG) and STC Group of Saudi Arabia have signed a memorandum of understanding (MoU) to strengthen their joint IoT business and pursue shared goals. The primary focus of this agreement is to foster the development of IoT industries.
By leveraging their IoT services and expertise, both companies aim to facilitate the advancement of connected transportation and vehicles in the next generation. The collaboration will provide a platform for promoting growth in strategic areas and capturing synergies that align with the obligations outlined in the MoU. The collaboration will enable the scaling up of IoT services in Saudi Arabia and the region, using various technologies and digital solutions, initially focusing on connected cars but with the potential for additional IoT prospects in the future.
Furthermore, the MoU aligns with the kingdom’s Vision 2030 plan, which among others seeks to accelerate the innovation and implementation of connected cars in the region.