Alibaba plans to partner with local companies in Saudi Arabia, UAE
Alibaba Group, the Chinese e-commerce behemoth, is expanding its Gulf presence by collaborating with businesses in Saudi Arabia and the UAE.
At the World Governments Summit in Dubai, Alibaba President Michael Evans shared the company's plans to deepen ties within the Gulf Cooperation Council, building on recent achievements in Saudi Arabia.
Evans noted Alibaba's unique approach as a Chinese firm to form local partnerships, a strategy they're bringing to the UAE and have recently implemented in Saudi Arabia.
After facing regulatory fines and missteps, the company is now focusing on recovery, with Co-founder Jack Ma calling for a strategic realignment last November.
Emphasizing the value of local collaborations, Evans stated they foster close integration and awareness within regional markets. Both the UAE and Saudi Arabia were invited last year to join the BRICS group, an initiative led by China, reflecting their global economic engagements.
Saudi Arabia's ambitious Vision 2030 has opened its economy to foreign investment. Alibaba Cloud has seized this opportunity, setting up a joint venture with Saudi Cloud Computing Co. to deliver quality services and support Vision 2030's objectives.
They've chosen the King Abdullah Financial District (KAFD) in Riyadh as their base, highlighting KAFD's status as a premier financial hub.
Selina Yuan, Alibaba Cloud's International Business President, recognized KAFD's global repute and its fitting choice for the joint venture. Alibaba Cloud's expansion in Saudi Arabia promises enhanced cooperation, innovative solutions, and support for the digital transformation in the Middle East.
Evans noted Alibaba's unique approach as a Chinese firm to form local partnerships, a strategy they're bringing to the UAE and have recently implemented in Saudi Arabia.
After facing regulatory fines and missteps, the company is now focusing on recovery, with Co-founder Jack Ma calling for a strategic realignment last November.
Emphasizing the value of local collaborations, Evans stated they foster close integration and awareness within regional markets. Both the UAE and Saudi Arabia were invited last year to join the BRICS group, an initiative led by China, reflecting their global economic engagements.
Saudi Arabia's ambitious Vision 2030 has opened its economy to foreign investment. Alibaba Cloud has seized this opportunity, setting up a joint venture with Saudi Cloud Computing Co. to deliver quality services and support Vision 2030's objectives.
They've chosen the King Abdullah Financial District (KAFD) in Riyadh as their base, highlighting KAFD's status as a premier financial hub.
Selina Yuan, Alibaba Cloud's International Business President, recognized KAFD's global repute and its fitting choice for the joint venture. Alibaba Cloud's expansion in Saudi Arabia promises enhanced cooperation, innovative solutions, and support for the digital transformation in the Middle East.
