FedEx Express to invest over $400m in Saudi Arabia

Delivery services company FedEx Express, a subsidiary of FedEx Corp, has announced its transition to a direct-serve presence in Saudi Arabia to meet the country’s growing international shipping demands.

The company aims to invest more than SAR1.5bn ($400m) into the Saudi economy over the next 10 years through talent management and local operations and infrastructure, reaffirming its commitment to the country’s non-oil economic growth.

FedEx Express has been facilitating trade in Saudi Arabia since 1994, offering international solutions and connectivity through local service providers, most recently through SAB Express. Its direct presence will further help local businesses trade with ease and expand their reach into the more than 220 countries and territories that it serves, a statement said.

We have officially launched our direct presence in Saudi Arabia, offering easier access to our global network and solutions. We’re ready to bring the largest economy in the Gulf Cooperation Council (GCC) even closer to the rest of the world!
Learn more: https://t.co/fuJc7wv2xJ pic.twitter.com/knHcPz4iPX

— FedEx (@FedEx) October 6, 2021

Jack Muhs, regional president of FedEx Express Middle East, Indian Subcontinent, and Africa, 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 per cent of Saudi Arabia’s private sector.”

FedEx Express will continue to work closely with SAB Express to provide pickup, delivery, and customs clearance services across the country, the statement added.

“We’re happy to continue supporting FedEx Express in Saudi Arabia with their growth journey, and join them in playing a critical role in developing Saudi Arabia’s logistics infrastructure, in line with the country’s coordinated efforts and strategy in diversifying the economy,” added Sheikh Salah Al Bluewi, chairman of SAB Express. “The logistics sector is a key contributor towards employment, investment, and overall economic growth in our nation.”

Last year, FedEx Express launched a new route between the UAE and Israel to strengthen trade between the two countries.

Read: FedEx Express launches new route between UAE and Israel to strengthen ties