Saudi Arabia’s Ministry of Investment (MISA) has signed a MoU with Amazon in a major step towards creating a dynamic business environment that affords growth opportunities for small and medium enterprises across the kingdom.

As per the deal, Amazon will form a joint committee with the Saudi ministry that will have members from each party who will meet twice per month to explore reforms across a range of areas including development of skills, technology and infrastructure, supporting knowledge and trust in online shopping and e-payments, and working with relevant public sector entities to produce and deliver support and incentive programmes to accelerate the growth and adoption of investments in digital services and e-commerce.

The signing took place at Misa’s office in the presence of Minister of Investment Engineer Khalid bin Abdulaziz Al Falih and Amazon's Vice President (Mena) Ronaldo Mouchawar.

Al Falih said: "One of our objectives at Misa is to create long-lasting partnerships with leading international organizations that will provide the local market with economic value and global expertise. In line with the Kingdom’s Vision 2030, our partnership with Amazon will open growth opportunities for SMEs and address the main challenges facing the sector, creating job opportunities across the Kingdom by harnessing new technologies."

"Furthermore, we will learn from Amazon's global practices and leverage its talents and expertise to bring world-class innovation and sustainable investment practices to the kingdom," stated the minister.

The signing of the MoU with Amazon aims to explore investment opportunities, build local capabilities and contribute to the efforts of the various authorities in the kingdom to develop e-commerce infrastructure across the country.

Mouchawar said: "At Amazon, we always look to innovate on behalf of our customers. Underpinned by our customer-centric culture, we are focused on ensuring our third-party sellers have the tools, technology, and skills to reach more customers in more convenient ways."

"This partnership underscores our commitment to the Kingdom and our customers in it, and will contribute to accelerating the growth of the e-commerce sector, as well as enabling businesses to take advantage of the great growth opportunities that the Kingdom offers," he added.

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