Logistics

FedEx will invest more than US$400 million in Saudi Arabia

Seetao 2021-10-09 14:44
  • Since 1994, FedEx has been promoting Saudi Arabia’s trade in order to meet Saudi Arabia’s growing transportation needs.
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FedEx Express, a courier service company under FedEx Corp, has announced the transition to Saudi Arabia's direct service business to meet the country's growing international transportation needs.

The company’s goal is to invest more than 1.5 billion riyals ($400 million) in the Saudi economy through talent management, local operations and infrastructure in the next 10 years, reiterating its commitment to the country’s non-oil economic growth. Since 1994, FedEx Express has been promoting trade in Saudi Arabia, providing international solutions and connections through local service providers, most recently through SAB Express. A statement said that its direct presence will further help local companies to trade easily and expand their business scope to more than 220 countries and regions it serves.

Jack Muhs, President of FedEx Middle East, Indian Subcontinent and Africa, said: "Our customers will be able to take advantage of FedEx's digital tools and a broader service portfolio. This strategic expansion of Saudi Arabia will help Saudi companies connect with new markets and markets around the world. Clients establish contacts and support Saudi Arabia in achieving its 2030 vision of diversifying its national economy."

"In addition to our commitment to the Saudi economy, we also see FedEx Express playing an important role in developing Saudi Arabia's SME environment, which is the backbone of the Saudi Arabian economy and accounts for 99% of the private sector in Saudi Arabia." The statement added that FedEx will continue to work closely with SAB Express to provide pickup, delivery and customs clearance services nationwide.

"We are pleased to continue to support FedEx Express's development in Saudi Arabia and to play a key role with them in the development of Saudi Arabia's logistics infrastructure, which is in line with the country's coordinated efforts and strategy for economic diversification." Sheikh added road. SAB Express Chairman Salah Al Bluewi said: “The logistics industry is a key contributor to our country’s employment, investment and overall economic growth.” Key words: overseas engineering, international engineering construction, foreign engineering construction news

In 2020, FedEx opened a new route between the UAE and Israel to strengthen trade between the two countries.Editor/XuNing

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