Minister of Commerce Majid Al-Kassabi
Minister of Commerce Majid Al-Kassabi said the Kingdom ranks among the top 10 developing economies in e-commerce, with total expected revenues of SAR 260 billion by 2025.
During his speech at the Northern Borders Investment Forum, Al-Kassabi added that the total orders amounted to SAR 190 million in 2022, noting that the Kingdom seeks to establish a logistics zone in Arar. Investors will be also granted land plots. Financing of up to 20 years will be also provided to serve exporters and beneficiaries in Saudi Arabia and Iraq.
The number of commercial registers at the Northern Borders Province leapt by 32% during the period from 2018 to 2023, reaching a total of 15,400, Al-Kassabi said.
He indicated that 485 conditions and requirements were canceled in 18 sectors to facilitate investments. In addition, more than 40 economic activities were created to develop investment opportunities in promising sectors.
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