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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”
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.