Riyadh: As part of its contribution to the digital transformation strategy in the Kingdom, the Advanced Electronics Co. of Saudi Arabia has signed eight agreements, memorandums of understanding, and deals to increase cooperation with governmental organisations and foreign businesses.

One of the agreements made by the company, a division of Saudi Arabian Military Industries, involved the provision of support for digital transformation in relation to smart stadiums, digital solutions, cybersecurity, and infrastructure, to the Ministry of Sports.

A Memorandum of Understanding (MoU) was signed by Advanced Electronics and Saudi Arabia Railways to provide security solutions, managed services, and IT infrastructure solutions. Advanced Electronics also signed a cooperation agreement with the Ministry of Environment, Water, and Agriculture to support initiatives to improve digital infrastructure.

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Additionally, a Memorandum of Understanding (MoU) was signed with the Saudi Electricity Company to transfer and localise technologies, provide infrastructure solutions, and operate digital technical infrastructure. A contract was also signed with the General Authority for Survey and Geospatial Information to provide technical support.

Following the company's participation in the LEAP 23 International Technical Conference, which took place in Riyadh from February 6 to 9, the deals were made public.

According to a statement on the Saudi Press Agency, Ziad Al-Musallam, CEO of Advanced Electronics Co., said the agreements will help the Kingdom's digital infrastructure develop in a number of sectors and represent a quantum leap in the digital transformation process as an enabler to achieve the goals of the Kingdom's Vision 2030.

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Cooperation agreements with Chronolife, Intelligent Security Systems, and Advanced Technology and Cybersecurity were among the other transactions. These agreements provide assistance with infrastructure development, government infrastructure projects, and the development of smart cities.

For LEAP 23, more than 250,000 people registered, which is more than twice as many as for 2022.

Following the $9 billion in deals announced by the Kingdom's Minister of Information Abdullah Al-Swaha at the event opening, a number of investment announcements were made, with programmes totaling $2.43 billion made public on day three of the event.

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Additionally, eight additional investment funds totaling $646 million that were launched during the event to promote innovation and digital entrepreneurship are included.