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.

A Federal Express truck is shown on deliver in La Jolla, California, U.S., May 17, 2017. Image used for illustrative purpose.

REUTERS/Mike Blake
 
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).

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Construction