Saudi Arabia's ministry of investment recently signed a memorandum of understanding (MoU) with Amazon to develop the kingdom's e-commerce sector. The deal is part of the government's efforts to build domestic capabilities and attract sustainable investment practices to Saudi Arabia, the ministry said on Twitter. No further details were provided.The deal was signed in the presence of Saudi investment minister Khaled Al-Falih and Amazon vice president for Middle East and North Africa Ronaldo Mouchawar.
Amazon penetrated Saudi Arabia after acquiring Dubai-based marketplace Souq.com. In 2020, it rolled out a website, which is a re-branding for Souq.com customers in Saudi Arabia.
Saudi Arabia's ministry of investment recently signed a memorandum of understanding (MoU) with Amazon to develop the kingdom's e-commerce sector. The deal is part of the government's efforts to build domestic capabilities and attract sustainable investment practices to Saudi Arabia, the ministry said on Twitter. No further details were provided.#
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