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Ministry of Investment Signs MOU with Amazon Saudi Arabia

Ministry of Investment Signs MOU with Amazon Saudi Arabia

Saturday, 19 March, 2022 - 06:00
MISA and Amazon will form a joint committee to explore reforms across a range of areas including development of skills. SPA

The Saudi Ministry of Investment (MISA) announced Saturday that it has signed a Memorandum of Understanding (MoU) with Amazon Saudi Arabia to create a dynamic business environment for growth opportunities for small and medium enterprises across the Kingdom.


MISA and Amazon will form a joint committee 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 support and incentive programs to accelerate the growth and adoption of investments in digital services and e-commerce, the Saudi Press Agency (SPA) reported.


The signing took place at the ministry in the presence of the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, and the Vice President of Amazon for the Middle East and North Africa, Ronaldo Mouchawar.


“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,” said Al-Falih.


“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,” he said.


“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."


As for Mouchawar, he said that Amazon always looks to innovate on behalf of its 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,” he added.


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