Shipsy Signs MoU with Monsha’at, Commits to Accelerate Vision 2030 & Earmarks Investment of USD 10M in KSA
Dubai, United Arab Emirates — Shipsy, a leading global SaaS-based logistics management platform provider, announced that it had signed a memorandum of understanding (MoU) with Monsha’at, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, to support Saudi Vision 2030. This development took place at the sideline of Biban 23 Forum.
The MoU highlighted that Shipsy would offer its technology at a significant concession for all customers channelled through Monsha’at. The leading logistics SaaS provider also earmarked an investment worth USD 10 million over 5 years in the region to drive technology innovation and research and development.
The Kingdom’s small and medium enterprises (SMEs) are most important in supporting the national economy. SMEs in KSA will increase exports, create new job opportunities for Saudi youth, diversify sources of income and expand the production base in line with the Saudi Vision 2030.
Vision 2030 also aims to lower the unemployment rate from 11.6% to 7%, boost women’s participation in the workforce from 22% to 30% and ensure SMEs contribute 35% to KSA’s GDP in the coming 10 years.
This MoU’s objective will be to develop and support SMEs and entrepreneurship under the laws and regulations in force in the Kingdom of Saudi Arabia and commensurate with the available resources, aiming to drive growth and economic diversification.
“We are honoured to partner with Monsha’at and thrilled to be a part of KSA’s Vision 2030. We are committed to drive technology inclusion in the Kingdom’s rapidly growing supply chain and logistics industry. Technologies like AI, automation, ML, IoT, Blockchain and data analytics will create numerous employment opportunities and unlock efficiencies that will help logistics stakeholders build sustainable, agile and cost-efficient logistics processes,” said Soham Chokshi, CEO and Co-Founder, Shipsy.