FedEx Express to invest over $400 million in Saudi Arabia

Web Desk BOL News

08th Oct, 2021. 01:35 pm

RIYADH: FedEx Express will invest more than SR1.5 billion ($400 million) into the Saudi economy over the next 10 years to meet the country’s growing international shipping demands, Arab News reported.

The investment will go into the talent management, local operations and infrastructure, the company said in a statement.

The world’s largest express transportation company is moving to a direct-serve presence as part of its commitment to the kingdom’s non-oil economy.

The company’s investment, in line with the Saudi Arabia’s Vision 2030 goals and the “National Industrial Development and Logistics Programme”, seeks to increase non-oil exports to more than SR1 trillion (approximately $266 billion).

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