FedEx Express to invest more than SAR 1.5 bln in Saudi Arabia

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

The company will invest more than SAR 1.5 billion ($400 million) into the Saudi economy over the next 10 years through talent management and local operations and infrastructure, the logistics services provider said in a statement.

The investment will reaffirm FedEx Express’ commitment to the country’s non-oil economic growth, in line with Vision 2030 goals, and the National Industrial Development and Logistics Program (NIDLP) that seeks to increase non-oil exports to more than SAR 1 trillion ($266 billion).

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, the statement said.

The company’s direct presence in the Kingdom will further help local businesses trade with ease and expand their reach into the more than 220 countries and territories that FedEx serves.

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