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FinancialNews
10-04-23
OneWeb NEOM Joins Digital Cooperation Organization as Observer Member
(MENAFN) OneWeb NEOM, a joint venture between OneWeb and NEOM's satellite company, has become an Observer Member of the Digital Cooperation Organization (DCO), a global multilateral body focused on accelerating the inclusive growth of the digital economy. The DCO comprises 13 member states representing a population of over 600 million. This membership will allow OneWeb NEOM to learn about and share insights into the initiatives launched by the DCO in its member nations, which include Saudi Arabia, Bahrain, Jordan, Morocco, and Pakistan.
The inclusion of OneWeb NEOM in the DCO as an Observer Member is a testament to the company's shared vision with the DCO and its leadership to provide sustainable and inclusive connectivity for those hardest to reach, according to Latih Hamad, CEO of OneWeb NEOM JV. Through its membership in the DCO, OneWeb NEOM aims to work with member states and other partners to leverage its low Earth orbit constellation to help bridge the digital divide across the DCO member states.
This achievement demonstrates the rising need for connectivity in the MENA region, as well as its vision and skills to promote digital transformation through a robust partnership with local infrastructure and service providers. OneWeb's collaborative approach will ensure even the remotest communities, individuals, and economies can realize their full potential, said Latih.
OneWeb NEOM is on track to launch its coverage solutions in the area and throughout the world in 2023. This is in line with the DCO's mission to promote connectivity, which is crucial for nations to create and leverage inclusive digital economies that benefit all. Low earth orbit constellations can deliver high-performance satellite connectivity services across underserviced areas and will play an important role in overcoming the connectivity gap, according to Deemah AlYahya, Secretary-General of the DCO.
In October 2021, OneWeb NEOM JV was formed with a USD200 million investment to offer high-speed satellite communication to NEOM, Saudi Arabia, the entire Middle East, and neighboring countries. OneWeb's membership in the DCO will help the company achieve its goal of providing sustainable and inclusive connectivity for all, even in the remotest areas.
MENAFN10042023000045014228ID1105970307
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