Saudi Arabia attracted more than SR7.5 billion ($2 billion) of investments in cloud computing during the past two years RIYADH: Saudi Arabia attracted more than SR7.5 billion ($2 billion) of investments in cloud computing during the past two years, Deputy Minister for Technology Development at the Ministry of Communication, Nawaf D. Al-Hoshan told Asharq on Monday. Saudi Arabia"s government implemented several initiatives to attract more foreign investments and encourage non Saudi companies including startups to invest in the Kingdom. Tax and investment incentives were some of these measures, he said. Many international companies announced plans to move their headquarters to Riyadh for investment opportunities. The names of these companies will be announced during LEAP 2022, Al-Hoshan added. Saudi Arabia launched the National Development Technology Program, or NTDP, with an estimated budget of SR2.5 billion. The program is the largest governmental program, to support startups, entrepreneurships, and investors in the information technology sector.