Ministry of Investment inks MoU with Amazon

Logo of Ministry of Investment 

The Ministry of Investment signed a memorandum of understanding (MoU) with Amazon Saudi Arabia, to support the promising investment opportunities and e-commerce growth through the initiatives offered by the ministry.

Minister of Investment Khalid Al-Falih said the move aims to explore the investment opportunities, build the local capabilities and contribute to developing the e-commerce infrastructure in the Kingdom.

“One of our objectives at the ministry is to create long-lasting partnerships with leading international organizations that will provide the local market with economic value and global expertise,” said Al-Falih.

He added that the ministry looks forward to continuing its efforts to establish a partnership with the leading entities, which will provide the local market with knowledge and abundance of resources, in line with Vision 2030 goals.

The partnership with Amazon will provide more growth opportunities and address the main challenges facing the sector, which will lead to offering more job opportunities across the Kingdom, in addition to developing technology and knowledge in this sector.

“The Kingdom is keen to attract international companies to benefit from global talents, experiences and best practices,” said Al-Falih.

Amazon Vice President for MENA Ronaldo Mouchawar said the partnership will contribute to providing customers with a wide range of products that are based on the latest technologies and artificial intelligence.

In addition, the deal will help create better tools for local sellers to develop their business through overcoming challenges and benefiting from the great growth opportunities in the Kingdom, Mouchawar said.

He stressed that Amazon’s commitment to the Kingdom will contribute to accelerating the digital economic growth.

The ministry aims to enable investors to benefit from the growth opportunities available in the Kingdom through providing them with the largest possible number of facilities and flexibility in licensing procedures and investor service.