Apple and Amazon are in licensing discussions with Riyadh on investing in Saudi Arabia, two sources told Reuters, part of Crown Prince Mohammed bin Salman’s push to give the conservative kingdom a high-tech look.
Both companies already sell products in Saudi Arabia via third parties but they and other global tech giants have yet to establish a direct presence.
Luring Apple and Amazon would further Prince Mohammed’s reform plans and raise the companies’ profile in a young and relatively affluent market, which already boasts some of the highest internet and smartphone use in the world.
Amazon’s talks are in earlier stages and no specific date has been set for investment plans, they said.
Both companies declined to comment, while SAGIA was not immediately available to answer questions about the discussions.Both companies declined to comment, while SAGIA was not immediately available to answer questions about the discussions.