FedEx Express to invest over $400mln in Saudi Arabia
The investment will go into talent management, local operations and infrastructure
A Federal Express truck is shown on deliver in La Jolla, California, U.S., May 17, 2017. Image used for illustrative purpose.
By Staff Writer, Arab News
RIYADH: FedEx Express will invest more than SR1.5 billion ($400 million) into the Saudi economy over the next 10 years to meet the country's growing international shipping demands.
The investment will go into talent management, local operations and infrastructure, the company said in a statement.
The world’s largest express transportation company is moving to a direct-serve presence as part of its commitment to the Kingdom's non-oil economy.
The company's investment, in line with Saudi's Vision 2030 goals and the ‘National Industrial Development and Logistics Program’, seeks to increase non-oil exports to more than SR1 trillion (approximately $266 billion).
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