Jollychic inks deal with SAGIA to bolster Saudi digital economy

Global e-commerce platform Jollychic has signed a memorandum of understanding (MoU) with the Saudi Arabia General Investment Authority (SAGIA) to support the acceleration of digital transformation and enhancing economic diversification in Saudi Arabia, PR Newswire reported on Sunday.

The agreement was signed between Jollychic founder and CEO, Arron Li, and SAGIA Governor Ibrahim Al-Omar.

As the Kingdom steadily advances toward the realization of Vision 2030, the Saudi government has launched a series of ambitious industrial initiatives that aim to contribute to the development of a robust and diversified economic infrastructure.

Also read: Saudi e-commerce sales set to reach $11 bln by 2022: report

The initiatives include the National Industrial Development Program (NIDLP), the Riyadh provincial development plan and free zone construction plan, as well as the adoption of a "Cloud First Policy", which aims to accelerate the pace at which cloud computing is adopted within the public sector.

Meanwhile, emerging industries such as information technology, modern logistics and e-commerce platforms have received more strategic direction and guidance policies.

“Taking place at a transformative time for the Saudi economy, the MoU lays the foundation for Jollychic to establish a strategic relationship with SAGIA as well as relevant government sectors and stakeholders, thereby allowing for Jollychic to deepen its roots in the kingdom,” the statement on PR Newswire said.

According to the MoU, SAGIA will provide comprehensive support for Jollychic to contribute in promoting the local e-commerce industry and ecosystem in Saudi Arabia.

"Jollychic is a successful example of a company that is effectively stimulating employment and promoting social progress in the digital economy sector of Saudi Arabia." said Mazin M. Al Zaidi, Director of Innovation and Entrepreneurship at SAGIA.