Amazon eyes partnerships with Saudi SMEs, tech startups
- Date: 26-Jul-2021
- Source: Zawya
- Sector:Technology
- Country:Saudi Arabia
Amazon eyes partnerships with Saudi SMEs, tech startups
DUBAI: Global conglomerate Amazon is looking to partner with more entrepreneurs and technology startups in Saudi Arabia, as it aims to boost the dedicated Saudi retail site it launched a year ago and interact more with the local ecosystem.
The Global Entrepreneurship Monitor (GEM) annual report released this year found that entrepreneurial activity in the Kingdom increased by 24 percent year-on-year in 2020, while a third of Saudis surveyed said they were keen on launching a business within the next three years.
At the same time, research platform Magnitt reported that the value of investment deals in the technology startup sector in Saudi Arabia last year soared by 55 percent year-on-year to $152 million.
Amazon is aiming to capitalize on this fast-growing entrepreneurial ecosystem. "We're working with the local entrepreneurs and we see a lot of those in the Kingdom. I think the space has changed drastically," Ronaldo Mouchawar, vice president of Amazon Middle East and North Africa, told Arab News.
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