new-e-commerce-law-in-saudi-arabia-3

Saudi Arabia’s cabinet passed the e-commerce law in July 2019 to regulate the relationship between the parties in the sector in line with the growth of e-commerce in the country. The new regulation comes as part of the e-commerce council’s initiatives.

The ministry of commerce and investment is looking to benefit from the strong growth of e-commerce across the Kingdom under 39 initiatives to enhance infrastructure, payment systems, postal and logistic services. It will also provide a promising market for potential investments in the e-commerce sector.

The Kingdom is considered one of the 10 fastest-growing states in e-commerce around the world, with a growth rate exceeding 32 percent per year. E-commerce is also one of the pillars of the Kingdom’s Vision 2030 under the National Transformation Program and a major contributor to its economy.

Minister of Commerce and Investment Dr. Majid al-Qasabi said: “The e-commerce law bolsters the economy’s position and ability to keep pace with all the world’s changes and modern trading patterns”.

Requirements:

In this assignment you need to prepare essay about the new e-commerce law in Saudi Arabia.

▪ Introduce the main regulations in the new e-commerce law and who are involved?

▪ What are the impacts after applying the new law to customers, online business, society and the national economy?

▪ What are the benefits of the new regulations to both customers and e-commerce business?

▪ Conclude the essay with your opinion about the new e-commerce law.