Saudi minister highlights e-commerce growth at UNCTAD's 60th anniversary in Geneva

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GENEVA — Dr. Majid Al-Qasabi, Saudi Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center (NCC), participated in the 60th-anniversary celebration of the UN Trade and Development Organization (UNCTAD) held in Geneva.

Themed "Charting a New Development Course in a Changing World," the event was attended by UN Secretary-General António Guterres and representatives from over 120 countries, including global leaders and ministers.

The sessions discussed crucial topics such as industrial policy for trade and development, preparing for future economies, development strategies amid ongoing crises, restructuring foreign direct investment, and shaping a digital future beneficial for people and the planet.

Dr. Al-Qasabi emphasized the role of e-commerce in Saudi Arabia's Vision 2030 development strategy. He noted the sector's expected growth to SR260 billion by 2025.

Last year, Saudi delivery companies processed approximately 200 million orders, supported by 14,000 logistics warehouses across the country, and investment in new e-commerce ventures surged by 152% over two years, reaching SR1.6 billion.

He also discussed ongoing regulatory reforms to enhance e-commerce operations, including the establishment of the E-Commerce Council, which coordinates efforts among 17 government agencies, and the Saudi Center for Economic Business, aimed at improving the business environment online.