The Chamber of Commerce and Industry in Riyadh said it would launch a set of new initiatives to promote e-commerce in the Saudi market. Those would pertain to protectionist legislation, technology development and expansion of electronic commercial transactions, logistical requirements and electronic payment solutions.
In remarks to Asharq Al-Awsat, Abdullah Al-Ajlan, member of the Board of Directors of the Riyadh Chamber and chairman of the E-Commerce Committee, said that the volume of e-commerce was witnessing high growth, noting that it grew by 74 percent during the months of March and April.
This rate has been achieved in electronic payments in the Kingdom’s market, he said, noting that since mid-2019, Saudi Arabia has exceeded the target of 28 percent, set in Vision 2030. He also expected e-commerce to grow at a rate of 10 percent next year, underlining the positive impact of the Covid-19 pandemic on this type of trade.
“The Riyadh Chamber, through the e-commerce committee, will work on addressing challenges by planning to implement a number of initiatives, including studying the obstacles that prevent the international expansion of Saudi commercial sites and contributing to developing financial technology solutions for e-commerce platforms and logistical support for commercial sectors,” Al-Ajlan said.
He continued: “The Chamber will also seek to provide the necessary advice and training for the transformation to electronic stores and to establish specialized sub-committees to support and enable e-commerce in several areas.”
Regarding the challenges facing the e-commerce sector in Saudi Arabia, Al-Ajlan said: “There are some challenges pertaining to the legislation, including the logistical requirements related to e-commerce... This requires more work, whether at the level of legislation or regulation.”
“Technical transformation has become a necessity… The coronavirus pandemic has rearranged company priorities and raised interest in technological advancement and e-commerce,” he stated.
