Saudi Arabia Aims to Improve Investment Climate for E-commerce

Saudi Arabia is striving to enhance its investment climate for e-commerce, with the goal of attracting more local and international businesses. Improving the e-commerce sector is a key objective of the National Transformation Program, supporting the country's "Vision 2030".

Boosting National Economy

This effort is crucial for dynamizing the national economy, as Saudi Arabia ranks among the top 10 countries with the fastest-growing e-commerce markets. The program is essential for strengthening the private sector and improving government efficiency, thereby supporting the country's transformation and achieving the vision's objectives.

E-commerce Market Projections

The e-commerce market is expected to reach $44 billion by 2030, according to Mohammed bin Duleim Al-Qahtani, an economic analyst and academic at King Faisal University.

Digital Infrastructure and E-commerce

Al-Qahtani highlighted Saudi Arabia's emphasis on digital infrastructure and e-commerce, leveraging its strategic position. He also stressed the importance of expanding e-commerce and digital banking, suggesting the internationalization of local banks' branches.

Global Efforts for E-commerce Development

Al-Qahtani also emphasized the global efforts led by G20 nations, including Saudi Arabia, to address the challenges of e-commerce and ensure cybersecurity and financial security.