FedEx Express to invest over $400m in Saudi Arabia

FedEx Express to invest over $400m in Saudi Arabia

Delivery services company FedEx Express, a subsidiary of FedEx Corp, has announced its transition to a direct-serve presence in Saudi Arabia to meet the country’s growing international shipping demands. The company aims to invest more than SAR1.5bn ($400m) into the Saudi economy over the next 10 years through talent management and local operations and infrastructure, reaffirming its commitment to the country’s non-oil economic growth. FedEx Express has been facilitating trade in Saudi Arabia since 1994, offering international solutions and connectivity through local service providers, most recently through SAB Express. Its direct presence will further help local businesses trade with ease and expand their reach into the more than 220 countries and territories that it serves, a statement said. Jack Muhs, regional president of FedEx Express Middle East, Indian Subcontinent, and Africa, said: “Our customers will be able to take advantage of FedEx digital tools and a wider service portfolio. This strategic expansion in the kingdom will help Saudi-based businesses connect to new markets and customers around the world, supporting Saudi Arabia’s Vision 2030 goals to diversify the national economy.” “In addition to our commitment to the Saudi economy, we see FedEx Express playing an important role in developing the small