Saudi Arabia’s Ministry of Investment (MISA) announced that it has signed a Memorandum of Understanding (MoU) with Amazon Saudi Arabia. The aim is to create a dynamic business environment that promotes growth opportunities for small and medium businesses in Saudi Arabia. The signing took place at MISA’s offices 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.
A joint committee of members from MISA and Amazon will be formed and meet twice a month to explore reforms across a range of areas, including skills development, infrastructure improvement, trust building in online shopping and e-payments, and working with relevant public sector entities to develop and deliver programs to accelerate the growth and adoption of investments in digital services and e-commerce.
Investment Minister Eng. Khalid Al-Falih said: “At MISA, one of our goals is to create long-lasting partnerships with leading international organizations that will contribute to the local economy. Our partnership with Amazon will help SMEs grow and address the main challenges facing the sector, creating jobs across the Kingdom by harnessing new technology. Our efforts are aimed at bringing world-class innovation and sustainable investment practices to the Kingdom by learning from Amazon’s global practices.”
The Ministry of Investment aims to make investing easier. By offering a diverse range of services and opportunities to investors; providing representatives from relevant government agencies to finalize the necessary procedures; and assisting investors from the inception to the start of business, an investment climate characterized by high efficiency and ease of doing business is achieved.