The Saudi $8 billion e-commerce market may double or even triple in the next couple of years, Saudi Minister of Communication and Information Technology Abdullah Alswaha told Sputnik in an interview on Wednesday.
RIYADH (Pakistan Point News / Sputnik - 24th October, 2018) The Saudi $8 billion e-commerce market may double or even triple in the next couple of years, Saudi Minister of Communication and Information Technology Abdullah Alswaha told Sputnik in an interview on Wednesday.
"The e-commerce market in the Kingdom is the $8 billion opportunity, but doubling if not tripling in the next couple of years. We have started the journey by fixing logistics and launching ventures in digital payment to make sure that their [customers'] journey is customer-centric and focused on experience," Alswaha said on the sidelines of the Future Investment Initiative conference in Riyadh.
The minister stressed that Riyadh was "moving at light speed and becoming a tech hub of the region."
"We are starting from a very solid base with the 12 largest telecom markets globally, we are the number one in ICT [information and communications technology] in MENA [the middle East and North Africa] and one of the fastest growing markets when it comes to technologies. Where we see the future? The future is us redefining education and health care when it comes to engagement, experience and building the ecosystem powered by the right partnerships," Alswaha said.
The minister added that Saudi Arabia had already seen how telemedicine and tele-education could help boost the quality of service in both sectors. Meanwhile, data and artificial intelligence could help "build the right policies, make the right decisions, as well as power new economies," the minister said.
