KPMG signs MoU with Saudi ICT ministry to establish Insights centre

13 August 2018 3 min. read

KPMG has continued its growth push in Saudi Arabia with yet another signing – this time with the Ministry of Communications and Information Technology to establish a data analytics and artificial intelligence insights centre in the Kingdom.

Following the recent promotion of Ismail Alani to the head of its Public Sector practice, and an earlier announcement on the establishment of a dedicated Research and Economic Studies unit, KPMG Al Fozan & Partners has signed a fresh agreement with Saudi Arabia’s Ministry of Communications and Information Technology (MCIT) to set up a new Insights Centre.

The center, the firm says, will act as the gateway for the delivery of digital transformation solutions and services in the Kingdom, with a further focus on developing local tech capacity in the domains of artificial intelligence (AI) and advanced data analytics through the provision of job and training opportunities – in line with the Kingdom’s bold Vision 2030 agenda.

“This center represents the key component of KPMG’s global innovation strategy for data and analytics, which combines the principles of collaborative and stimulating learning environments and cutting-edge technology, to deliver creative solutions for challenging business needs,” the firm said in a press statement.KPMG Saudi Arabia signs MoU with ICT ministry to establish AI and data analytics centreThe Memorandum of Understanding (MoU) was signed in a ceremony by KPMG MESA and Saudi Arabia Chairman Abdullah Al-Fozan and the Deputy Minister of Technology Industry and Digital Capacities, Ahmed Al-Theneyan, with the Vice Minister for Haitham Al-Ohali in attendance. Al-Ohali later praised KPMG’s ongoing contribution to national development.

Al-Fozan in turn said that the agreement was a strategic fit with the digital aspirations of the national transformation agenda – which seeks to diversify the Saudi economy away from a reliance on resources by developing world-class expertise in a variety of emerging sectors – with Al-Fozan adding that KPMG’s investment will help build a thriving economy and stimulate jobs.

Recently, KPMG in Saudi Arabia outlined plans to create more than 700 jobs over the next five years, citing the impact of the VAT rollout on the local economy and firm’s own significant growth, which was regionally booked at 12.7 percent for previous fiscal year and is at record levels in the Kingdom due to increasing demands from both the private and public sectors.

The employment drive, too, will focus on local talent. As it stands, KMPG Al-Fozan has a headcount of approximately 1,200 across its offices in Jeddah, Al Khobar, and Riyadh – the latter which is set for a fresh 11,000 square metre location in the Business Front project to accommodate the growth spurt – with roughly 500 of those employees being Saudi nationals.