Saudi Arabia’s Ministry of Investment has signed a Memorandum of Understanding (MoU) with US retail giant Amazon to develop the kingdom’s e-commerce sector, Zawya reports.
The deal is in line with the Gulf country’s efforts to build local capabilities and attract sustainable investment practices to Saudi Arabia, the ministry said on Twitter. The ministry however did not provide details about the deal.
Amazon established its presence in Saudi Arabia after the acquisition of Dubai-based marketplace Souq.com. In 2020, Amazon rolled out a website, which is a re-branding for Souq.com customers in the kingdom.
Saudi Arabia hires Amazon to develop e-commerce sector
