Saudi Arabia: New e-Market System Looms in the Horizon

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May 10, 2018 
Dammam- Obeid al-Suhaimi

A senior official at the Saudi Ministry of Commerce and Investment confirmed that an e-commerce system will be launched soon in the Kingdom. The system has been completed by the ministry and is being approved by the competent authorities to become effective.

Saudi Arabia is seeking to create a regulatory environment for e-commerce to stimulate this promising market, which creates more investment and job opportunities.

Saudi Arabia is the largest e-market in the Middle East and North Africa region with sales worth USD8 billion (SAR30 billion), according to the latest report issued by Communications and Information Technology Commission (CITC).

Majid Al Bawardi, Saudi Deputy Minister of Trade and Investment, told reporters on the sidelines of the Smart Applications Exhibition organized by Asharqia Chamber yesterday evening that the objectives of the Ministry of Trade and Investment are to support the spread of e-commerce.

Bawardi stated that the applications’ market in Saudi Arabia provides practical solutions for several problems facing the SMEs, noting that the volume of presented applications in the fair reached 50 and they offer dozens of services in an innovative manner. The market of applications is a different smart market, but it is essential that it stands on innovative ideas, Bawardi added.

Deputy Minister of Commerce and Investment clarified that the commerce and investment backs such an approach in investment, which is investment in ideas.

Chairman of Asharqia Chamber Abdul Hakim bin Hamad Al-Ammar Al-Khalidi stated that the chamber is in quest of granting an opportunity for the applications’ owners, designers and programmers to show their work for the audience and specifically investors. He added that the exhibition happening for the first time goes in tandem with the world and local market, with a remarkable increase in the number of applications and e-programs.

This article was first published in  ASHARQ AL-AWSAT

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