The National Competitiveness Center’s Chairman and Saudi Minister of Commerce, Dr. Majid bin Abdullah Al-Qasabi, was present at the 60th-anniversary festivities of the UN Trade and Development Organization (UNCTAD) held in Geneva. This landmark event, under the theme ‘Charting a New Development Course in a Changing World’, saw the attendance of UN Secretary-General António Guterres along with distinguished government officials from over 120 nations, inclusive of heads of state and cabinet members.
Throughout the event, participants addressed a multitude of critical topics. High-level ministerial discussions revolved around stimulating industrial policies for trade and development, preparing for emerging economies, crafting development strategies in an era of constant crises, and the transformation of foreign direct investment. A special session was also dedicated to the topic of Shaping a digital future that serves people and the Earth
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In his address, Dr. Al-Qasabi underscored the pivotal role of e-commerce within the strategic framework of the Kingdom’s Vision 2030. He projected that by the year 2025, the e-commerce sector in the Kingdom is expected to surge to an estimated SAR260 billion. This figure indicates the sector’s dynamic expansion.
Last year, Saudi-based delivery companies processed close to 200 million orders, supported by an extensive network of 14,000 logistics warehouses. Additionally, there has been a staggering 152% increase in investments in nascent e-commerce enterprises over a span of two years, with a cumulative investment of SAR1.6 billion.
Dr. Al-Qasabi also shed light on the Kingdom’s proactive approach in reevaluating e-commerce-related regulations and streamlining the associated procedures and criteria. In a bid to foster a conducive online business environment, Saudi Arabia has initiated entities such as the E-Commerce Council, consisting of 17 governmental bodies, and the Saudi Center for Economic Business, which renders government services to the commercial sector.