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Saudi Arabia signs memorandum of understanding with Amazon

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The Saudi Arabian Ministry of Investment in Riyadh signed a memorandum of understanding with Amazon, to support promising investment opportunities and the growth of e-commerce through the initiatives and capabilities provided by the Ministry of Investment.
Saudi Arabian Investment Minister Ing. Khalid bin Abdulaziz Al-Falih said in a statement on Saturday: “The signing of the memorandum of understanding with Amazon is aimed at exploring investment opportunities, developing local capacities and contributing to the efforts of the Kingdom to develop e-commerce infrastructure and the accelerated momentum of the transition to the Fourth Industrial Revolution.”

Al-Falih expressed his aspiration to “continue to establish a partnership with the leading entities in their field who will provide the local market with knowledge and a wealth of resources in line with the Kingdom Vision 2030”, noting that “partnership with Amazon open growth opportunities and address the main challenges facing the sector that will lead to the creation of opportunities.” He has worked throughout the Kingdom, as well as developing technology and knowledge in this sector, and the Kingdom is keen to attract international companies to benefit from global skills, experience and best practices.

Amazon Vice President for the Middle East and North Africa, Ronaldo Mouchawar, indicated that this association will help bring many products closer to customers, taking advantage of our technologies and artificial intelligence, as well as creating better tools for local sellers to grow their businesses surpassing many challenges, and taking advantage of great opportunities for growth and prosperity.

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