Amazon and Apple Wants to Invest in Saudi Arabia

Giant technology groups Apple and Amazon are in discussions with Riyadh as they have plans to invest directly into Saudi Arabia. It seems that kingdom seeks to pull itself from economic recession and wants to give itself a high-tech look. Amazon and Apple Wants to Invest in Saudi Arabia.

It has been confirmed by third source that Apple was in talks with SAGIA, Saudi Arabia´s foreign investment authority. Apple and Amazon sell products through third parties, but now they are looking for the establishment of direct presence. Both companies have been in discussion with Saudi government for more than year.

Amazon and Apple Wants to Invest in Saudi Arabia

Apple to establish flagship retail outlets and Amazon to expand cloud-computing services in the first quarter of next year, it is confirmed by both companies.

However, Amazon is in earlier stages of discussion and the specific date for investment is not revealed yet. While according to market researcher Euromonitor, that Apple already holds second place in the Saudi mobile phone market.

Sam Blatteis, chief executive of The MENA Catalysts, a public policy advisory firm said:

Saudi Arabia aims to have technology as a key enabler and driver of the numerous changes envisaged by [Prince Mohammed’s reform programme] Vision 2030, with the goal of developing the nation’s digital infrastructure and stimulating related economic sectors, industries and businesses

Huawei, China based company has became the first overseas retailer to be granted a licence to operate in the kingdom last year. Apple is looking to open one or two of its “town square” stores in 2019. Amazon is also about to expand its cloud-computing arm, Amazon Web Services in 2019.

Read Next: Apple Starts Offering its $29 Battery Replacements Earlier than Expected

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