RIYADH: Saudi e-commerce management company Zid plans to expand its business to other Gulf countries by the end of 2022 as it looks to grab 5 percent of the region's 1 million worth of small and medium enterprises market, its CEO told Asharq.
The Saudi holding company seeks to transform its activity from traditional to electronic commerce within the next three years, Sultan Al-Asmi added.
Established in 2017, Zid provides solutions that enables retailers to enter the electronic retail world by activating digital payment gateways and connecting them with shipping companies.
In a previous interview with Asharq, an Amazon official forecasted that the volume of e-commerce in the Kingdom will exceed SR57 billion ($15.2 billion) by 2025.
He noted that e-commerce in Saudi Arabia grew by 42 percent during the last two years.
