RIYADH: Saudi Arabia’s investment arm has signed an agreement with tech and e-commerce giant Amazon, the official Saudi Press Agency (SPA) reported yesterday.
The new MoU is expected to boost opportunities for small and medium enterprises across the kingdom, SPA reported.
Saudi Arabia’s Ministry of Investment will also repotedly form a joint committee that will focus on “development of skills, technology and infrastructure, supporting knowledge and trust in online shopping and e-payments,” according to the report.
The signing took place in the presence of Minister of Investment Khalid bin Abdulaziz Al Falih and vice president of Amazon for the Middle East and North Africa Ronaldo Mouchawar.
“In line with the kingdom’s Vision 2030, our partnership with Amazon will open growth opportunities for SMEs and address the main challenges facing the sector, creating job opportunities across the kingdom by harnessing new technologies,” WAM quoted Al Falih as saying.
The kingdom’s Vision 2030 plan includes provisions to develop digital infrastructure with the aim of improving quality of life and attracting investment.
Building and enabling local talent is another focal point of the MoU.
“This partnership underscores our commitment to the kingdom and our customers in it, and will contribute to accelerating the growth of the e-commerce sector, as well as enabling businesses to take advantage of the great growth opportunities that the kingdom offers,” Mouchawar said.
Last year, Amazon announced a major expansion in Saudi Arabia that it says will create at least 1,500 new jobs across the kingdom in 2021.
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