Saudi Arabia, Greece agree to build data cable project
Saudi Arabia and Greece announced a strategic partnership between the private sectors in the two countries to build a data cable project linking the East and the West. The project would ensure the smooth digital supply of data worldwide at a time when the world is witnessing a growth of data traffic by more than 30 percent.
This partnership comes through leading the (EMC) project by the Saudi Telecom Company (STC) in partnership with the Greek Telecom Company; the General Energy Company in Greece and the Cyprus Telecom Company, as the agreements were exchanged during the visit of Crown Prince Mohammed bin Salman to Greece.
The agreement will contribute to strengthening the Kingdom’s position as a regional digital hub center in line with the goals of the Kingdom’s Vision 2030, and as Greece is the eastern data gateway to the European Union.
The project aims to position the two countries as an eastern digital station for Europe to reach the Middle East, the continents of Africa and Asia, and the submarine cable (EMC) comes as part of the strategic digital transformation plan of Greece, and is part of the Kingdom’s ambitions to consolidate its position as a digital hub center at the regional and global levels by taking advantage of its advanced digital infrastructure, and its developed cadres and institutions, in addition to its geographical location, which allows it to become a global digital hub center by linking East and West.
The project, if completed, will also contribute to accelerating the growth of the global digital economy, which is estimated to reach $15 trillion, in addition to supporting new industries and emerging markets based on innovative business models.
It is worth mentioning that the geographical position of the Kingdom and its possession of many ports have already qualified it to be a center of attraction for the digital economy and investment, as about 10 percent of the global capacities of submarine cables pass through the Saudi territory.