Announcement at LEAP sees Saudi public and private enterprises gain access to a network with annual trade transactions worth more than US$5 trillion
RIYADH, KSA — February 9, 2023 – At the LEAP technology event in Riyadh today, SAP announced the establishment of the SAP Business Network within Saudi Arabia. The move will enable Saudi public and private enterprises to trade, buy and sell on the world’s largest business digital network in 190 countries, with millions of trading partners conducting transactions worth more than US$5 trillion annually.
The announcement was made by Ahmed AlFaifi, Senior Vice President and Managing Director, SAP Middle East & Africa North, who said, “As part of our increased investment in Saudi Arabia, we are very pleased to launch the SAP Business Network in the Kingdom. This launch will contribute to achieving the objectives of Saudi Vision 2030 as it offers immeasurable trade and supply opportunities, positions KSA as global logistic hub, grows non-oil exports in addition to supporting the Kingdom’s sustainability efforts.
As part of the SAP Business Network, buyers, suppliers, logistic providers, financial institutions, and original equipment manufacturers will be connected on one trading platform. Bringing the SAP Business Network to be hosted in KSA will further position Riyadh to be a global digital and trade hub.