Saudi Ministry of Investment seals pact with Amazon to support SMEs

Saudi Ministry of Investment seals pact with Amazon to support SMEs

Saudi Arabia’s Ministry of Investment (MISA) has signed a Memorandum of Understanding (MoU) with American eCommerce giant, Amazon, with the goal of creating a dynamic business environment that provides growth opportunities for small and medium-sized enterprises (SMEs) across the Kingdom.

As part of the MoU, MISA and Amazon will form a joint committee consisting of members from each party that will meet twice per month to explore ways to bring changes across several areas including development of skills, technology and infrastructure, supporting knowledge and trust in online shopping and e-payments, and working with relevant public sector entities to produce and deliver support and incentive programs to boost the growth and adoption of investments in digital services and eCommerce.

Khalid Al Falih

Minister of Investment

Saudi Arabia “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. Furthermore, we will learn from Amazon’s global practices and leverage its talents and expertise to bring world-class innovation and sustainable investment practices to the Kingdom.”

MISA’s MoU with Amazon Saudi Arabia also aims to explore investment opportunities, develop local capabilities, and contribute to the