JEDDAH — The proposed council for e-commerce will increase online activities during the coming five years and will generate an income of SR60 billion to this sector, economic analysts here have said. They also stressed that this step has come to meet the international changes and will support the Saudi Vision 2030. Further it will provide an encouraging environment to investors and accelerate development in several sectors.

The council will be chaired by Minister of Trade and Investment Dr. Majed Al-Qasabi, and will have members of government agencies and three representatives of the private sector.

Tawfeeq Al-Suwailerm, director of Al-Khalij House for Economic Research and Consultation, said the 2017 Communications and Information Technology Commission (CITC) figures show that the value of online trade has reached 29.7 billion. The number is expected to increase by 20% a year, therefore it will reach 60 billion by 2030.