E-commerce in Saudi Arabia expected to hit over $13bln by 2025

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RIYADH — Electronic commerce in Saudi Arabia is expected to witness growth and prosperity with total revenues reaching SR49 billion by 2025, Deputy Minister of Commerce and General Supervisor of the Saudi Center for Economic Business Dr. Eman Al-Mutairi has said.

She said e-commerce constituted 8% from the total commerce in Saudi Arabia during 2022.

Dr. Al-Muraiti made the remarks while participating in the opening session of the Entrepreneurship Forum and Exhibition 2023 (Rad), held in the Eastern region.

The commercial registers of the Eastern region have increased in 2023 by 17% compared to 2018, Dr. Al-Muraiti noted, adding that the number of commercial registers in Saudi Arabia exceeded 1,386 million, of which, more than 213,000 are in the Eastern region. The number of commercial registers back in 2018 was 181,144.

She said the most prominent promising economic sectors whose commercial registers recorded growth in the Eastern region during Q4 of 2023 were the logistics services (71%), marine clubs sector (70%), artificial intelligence (46%), and port docks and marine construction (44%).

The deputy minister also spoke during the session about the reforms that were implemented to improve the business environment, including the preparation and development of more than 70 pieces of legislation over the past 7 years, in addition to procedural reforms, such as obtaining feedback from the public on draft laws and regulations before approving them.

She also indicated that more than 370 legislative projects were floated through the survey platform (Istitlaa) of the National Competitiveness Center, while 485 conditions and requirements were canceled in 18 sectors with the aim of facilitating the investor’s journey. This is in addition to the creation of more than 40 economic activities to develop investment opportunities in promising sectors.

Dr. Al-Muraiti shed light on the efforts of the Saudi Business Center in facilitating business in Saudi Arabia through more than 900 services affiliated to over 60 government agencies provided in the center’s 17 spatial branches located in 14 cities, in addition to its affiliated business platform, where the number of its beneficiaries reached 1 million this year.

She also touched on the role of the National Program to Combat Commercial Concealment (Tasattur), stating that it aims to enhance compliance and adherence to approved market rules, and create opportunities for young Saudi men and women in a fair and competitive environment.