Apple and Amazon In Talk With Riyadh Over Investment

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Apple and Amazon

IT Giant Apple Inc And Amazon are in talk with Saudi Arebia for Opening their stores in Saudi.

At present both the parties are selling their products in the cou try via third party.

This discussion is a sign that the Crown Prince Mohammed bin Salman is taking efforts to give kingdom a high-tech look.

A reliable sources has confirmed that Apple is in talks with SAGIA (Saudi Arabia’s foreign investment authority).

Amazon’s discussions with the kingdom are being conducted by Amazon Web Services (AWS). Amazons entry will challenge the dominance of existing small local service providers like STC and Mobily.

Around three years ago the kingdome came to know that depending on oil will not be helping the economy in future. Since then, the kingdom is gradually easing its laws and terms for foreign businesses.

Saudi Arebia is a huge market for these companies are around 70 % of the Saudi population is below 30 and is active on social media.

Apple is expected to get the licence for its stores by February, and will start retail operations by 2019, while Amazon is still in a earlier stage of discussions with Saudi authorities.

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