02 Rabi' I 1444 - 27 September 2022
    
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Eye of Riyadh
Business & Money | Wednesday 30 March, 2022 1:42 pm |
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MONSHA’AT INKS MOU WITH AMAZON TO HOST 40,000 SMALL AND MEDIUM-SIZED BUSINESSES ON ITS SAUDI ARABIA STORE BY 2025

Amazon today signed a Memorandum of Understanding (MoU) with Monsha’at, Saudi Arabia’s General Authority for Small and Medium Enterprises, to enable independent businesses to sell their products to millions of customers across the kingdom on Amazon.sa. As part of the MoU, Amazon will work with Monsha’at to support small and medium-sized businesses (SMBs), and empower them by leveraging Amazon’s logistics capabilities, tools, services, programs, and people. 

 

The partnership was signed in attendance of Monsha’at Governor Engineer Saleh Ibrahim Al-Rasheed and Amazon Vice President for the Middle East and North Africa (MENA) Ronaldo Mouchawar on the sidelines of the Global Entrepreneurship Conference (GEC), which was held in Riyadh from March 27-30.

 

More than 200,000 licensed retail entities in the Kingdom will be able to benefit from this initiative, which aims to host 40,000 small and medium businesses onto the Amazon.sa store by 2025 and provide them with online selling guidance, education, and support growth.

 

Amazon will offer e-commerce training material to the Monsha’at SMBs, with a focus on how to sell to customers through the Amazon Marketplace. Monsha’at sellers will also be showcased on a dedicated landing page and receive support from Amazon via seller support tools and access. 

 

Monsha’at Governor Engineer Saleh Ibrahim Al-Rasheed said: “This MOU with Amazon will help bolster the success of Saudi Arabia’s small and medium sized enterprises, and will give 40,000 of them access to new opportunities and an additional potential source of income. This demonstrates how public-private partnerships can pave the way for businesses and entrepreneurs to succeed and thrive.”

 

Ronaldo Mouchawar, Vice President for Amazon MENA said: “We are pleased to join hands with Monsha’at to help SMBs in Saudi Arabia grow and succeed. At Amazon, independent sellers are a fundamental part of our customer-centric culture, and we remain absolutely committed to helping them reach more customers and pursue their entrepreneurial ambitions. Today, there are thousands of small and medium-sized businesses selling on Amazon.sa in the Kingdom and we are proud to be a part of their success.“ 

 

Globally, more than 50% of everything that Amazon sells comes from small and medium-sized sellers.

 

The number of SMBs since Saudi Vision 2030 was launched in 2016 has grown by 48% to 663,190 in Q3 2021. Saudi Arabia aims to increase SMB contribution to gross domestic product (GDP) from 20% to 35% by the year 2030. 

 

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