Riyadh – Mubasher: FedEx Express, a subsidiary of FedEx Corp. listed on the London Stock Exchange (LSE), announced its transition to a direct-serve presence in Saudi Arabia to meet the kingdom's growing international shipping demands.
The world’s largest express transportation company will invest over SAR 1.5 billion ($400 million) in the kingdom over the coming 10 years through talent management, local operations, and infrastructure, according to a statement.
This step affirms the delivery services firm’s commitment to driving the Saudi non-oil economic growth, in line with Saudi Arabia’s Vision 2030 goals and the National Industrial Development and Logistics Program (NIDLP) aiming at boosting non-oil exports to above SAR 1 trillion ($266 billion).
The Regional President of FedEx Express Middle East, Indian Subcontinent, and Africa, Jack Muhs, said, “Our customers will be able to take advantage of FedEx digital tools and a wider service portfolio. This strategic expansion in the kingdom will help Saudi-based businesses connect to new markets and customers around the world, supporting Saudi Arabia’s Vision 2030 goals to diversify the national economy.”
“In addition to our commitment to the Saudi economy, we see FedEx Express playing an important role in developing the small and medium enterprise environment in Saudi Arabia, which forms the backbone of the economy, and represents 99% of Saudi Arabia’s private sector,” Muhs noted.
FedEx Express has been operating in Saudi Arabia since 1994, providing international solutions and connectivity through local service providers, most recently through SAB Express. The company’s direct presence in the country will help local businesses trade and expand their reach into more than 220 countries and territories.
