National Parking Company (Mawgif), which is indirectly owned by BATIC Investment and Logistics Co., signed on October 31, 2019, a four-month memorandum of understanding (MoU) with Saudi Huawei to form a strategic partnership.
The MoU will be valid until March 1, 2020, BATIC said in a bourse statement.
The MoU aims to build and manage smart cities using state-of-the-art solutions, including the internet of thigs (IOT), Big Data analysis, and artificial intelligence (AI), where smart parking spaces in the Eastern Province represent the company’s nascent operations.
The preliminary deal aims to empower the Saudi market through setting up a joint innovation center for smart city solutions, in cooperation with specialized research centers.
It also looks forward to empowering national cadres through establishing a specialized academy for smart cities, to qualify these cadres in the fields of IOT, Big Data and AI.
The partnership will also localize manufacturing of smart city solution requirements through Chinese partnerships with Saudi Huawei.
Mawgif is owned by BATIC’s affiliate Arabian Security & Safety Services Co. Ltd (AMNCO).
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