The Ministry of Investment signs an agreement with Amazon

The Ministry of Investment in Riyadh signed a memorandum of understanding with Amazon, in the presence of the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, and the Vice President of Amazon for the Middle East and North Africa, Ronaldo Mouchawar, to support promising opportunities for investment and the growth of e-commerce through the initiatives and capabilities provided by the Ministry of Investment.

The Minister of Investment stressed that the signing of the memorandum of understanding with Amazon aims to explore investment opportunities, build local capabilities, and contribute to the Kingdom’s endeavors to develop e-commerce infrastructure, and the accelerating momentum for the transition towards the Fourth Industrial Revolution, looking forward to continuing to establish a partnership with leading entities in their field that will supply the market. He pointed out that the partnership with Amazon will open up growth opportunities and address the main challenges facing the sector that will lead to the creation of job opportunities throughout the Kingdom, in addition to the development of technology and knowledge in this sector, and the Kingdom is keen to attract Global companies to benefit from global skills, experience and best practices.

Amazon Vice President for the Middle East and North Africa indicated that this partnership will contribute to bringing many products closer to customers, taking advantage of our technologies and artificial intelligence, in addition to creating better tools for local sellers to grow their businesses by overcoming many challenges and taking advantage of the great opportunities for growth and prosperity that they own. The Kingdom, stressing their commitment to the Kingdom will contribute to accelerating the growth of the digital economy. It is noteworthy that the Ministry of Investment seeks, in light of the increase in investment opportunities, to enable investors to access them by providing the largest possible number of facilities and flexibility in licensing procedures and investor service, by providing representatives from the relevant government agencies to finalize the required procedures, in addition to providing support to investors during all procedures. The stages of their work, from incorporation until starting a business, in order to achieve an investment environment characterized by high efficiency and ease of doing business.