Saudi Investment Ministry and Amazon Saudi Arabia Sign MoU

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Ministry of Investment signed a Memorandum of Understanding with Amazon Saudi Arabia which intends to create a dynamic business environment.

MISA announces signing a Memorandum of Understanding with Amazon Saudi Arabia.

Riyadh — Saturday. MISA, the Ministry of Investment, announced it had signed a Memorandum of Understanding with Amazon Saudi Arabia. The MoU intends to create a dynamic business environment for the growth opportunities of SMEs across the Kingdom.

A joint committee MISA and Amazon will meet twice a month to explore reforms across various areas. These reforms include developing skills, technology, and infrastructure, supporting learning and trust in online shopping and e-payments.

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They will also work with appropriate public sector entities to produce and deliver support and incentive programs. These programs will accelerate the development and adoption of investments in digital services and e-commerce.

The signing took place at MISA’s offices. The Minister of Investment Eng. Khalid Bin Abdulaziz Al-Falih oversaw the signing. The Vice President of Amazon for the Middle East and North Africa, Ronaldo Mouchawar, was also present.

The Minister of Investment Al-Falih said: “One of our ideals at MISA is to create long-lasting partnerships with prominent international organizations. Such partnerships will provide the local market with economic value and global expertise.”

“In line with the Kingdom’s Vision 2030, our collaboration with Amazon will open growth possibilities for SMEs and address the sector’s challenges. The partnership will develop job opportunities across the Kingdom by harnessing new technologies.”

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

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He added the Amazon MoU would explore investment opportunities. It will build local capabilities. Contribute to the various efforts in the Kingdom to develop e-commerce infrastructure across the country.

For his part, Mouchawar said: “At Amazon, we always look to innovate on behalf of our customers. Underpinned by our customer-centric culture, we focus on ensuring our third-party sellers have the tools, technology, and skills to reach more customers conveniently.

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“This partnership underscores our commitment to the Kingdom and our customers. We will contribute to accelerating the growth of the e-commerce sector and enabling businesses to take advantage of the Kingdom’s great growth opportunities.”

The Ministry of Investment seeks to enable ease of access for investors. This ease provides many facilities and flexibility in licensing procedures and investor services.

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