Saudi Downtown, a wholly owned company of the Public Investment Fund (PIF), is to join hands with the country’s Ministry of Communications and Information Technology (MCIT) to implement digital infrastructure and communication technologies in company projects.
The PIF company projects are being developed in 12 cities across Saudi Arabia.
Saudi Downtown signed a memorandum of understanding (MoU) with the ministry on the tie-up at the ‘LEAP’ conference in Riyadh on Monday.
The MoU envisages the two sides exploring cooperation opportunities to encourage investments in digital infrastructure and activate modern communication technologies.
The MoU was signed by a member of the board of directors and acting CEO of Saudi Downtown, Nayef bin Saleh Al-Hamdan, and the Undersecretary of the Ministry of Communications and Information Technology for Communications and Infrastructure, Bassam bin Abdullah Al-Bassam.
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