JD.com Partnering with Saudi Government. JD.com Inc. (NASDAQ:$JD), China’s second-largest e-commerce firm, plans to enter the Middle East Market through partnering up with the Saudi government.
Saudi Arabia’s “Vision 2030” economic reform plan is targeted at boosting the private-sector and developing non-oil industries. Winston Cheng, president of the firm’s international business, commented on the plan regarding it as “an incredible opportunity”.
Earlier this year the U.S. e-commerce firm Amazon.com purchased the Middle Eastern online retailer Souq.com.
Similarly, Chinese e-commerce peer Alibaba Group Holding Ltd’s cloud-computing subsidiary Aliyun has established a partnership with Dubai’s state-owned Meraas Group.
JD.com’s Cheng hopes to move in fast, as he foresees the potential partnership with the Saudi Government to be “the new next frontier”.
Featured Image: twitter
