ANT-INTERNATIONAL
The Ministry of Investment of Saudi Arabia (MISA) has signed a Memorandum of Understanding (MoU) with Ant International, to facilitate the business expansion into the Kingdom.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240507130337/en/
(Photo: Business Wire)
Ant International’s President, Douglas Feagin, met with Mr. Eng Saleh Khabti, Deputy Minister of Investment of Saudi Arabia during a signing ceremony held in Riyadh, to welcome the new partnership and sign an agreement outlining shared goals for technological innovation and economic growth opportunities in Saudi Arabia.
Through this partnership, MISA welcomes and supports Ant International’s expansion plan to establish an entity in Saudi Arabia, enabling assistance when acquiring licences and certificates to expand and enhance its service offerings.
Ant International will use Saudi Arabia as a key gateway into the Middle East to further expand the reach of its payment and financial services. Local merchants of all sizes will benefit from riding the wave of digitalization to achieve further growth.
Mr. Eng Saleh Khabti, Deputy Minister for Investment at MISA said “we have worked closely with Ant International on its expansion into the Kingdom which will not only benefit thousands of merchants across the country but potentially hundreds of thousands of businesses right across the Middle East. We are seeing tremendous growth in digital payments in Saudi Arabia and we expect this trend to continue with Ant International’s expansion which will further boost the financial services sector in the Kingdom.”
Douglas Feagin, President of Ant International, said “we see an enormous opportunity for expansion in the Middle East and in particular Saudi Arabia, which has been supportive of technological innovations and digitalization, empowering its businesses to thrive.”
“Through our agreement with MISA, Ant International enters an exciting new chapter of opportunity within Saudi Arabia. We’re delighted to build upon our progress in the Middle East to support merchants’ access to our world class payment solutions and inclusive financial services, providing Saudi businesses with various tools to grow and benefit from international travel and trade.”
Ant International’s strategy is comprised of four services for global merchants: (i) Alipay+ cross-border mobile payment and digitalization technology solutions, (ii) Antom merchant payment services, (iii) WorldFirst digital payment and financial services for cross-border trade, and (iv) ANEXT Bank, a digital wholesale bank regulated by the Monetary Authority of Singapore, and other embedded financial services.
About Ant International
Headquartered in Singapore, Ant International powers the future of global commerce with digital innovation for everyone and every business to thrive. In close collaboration with partners, we support merchants of all sizes worldwide to realize their growth aspirations through a comprehensive range of tech-driven digital payment and financial services solutions.
About the Ministry of Investment of Saudi Arabia (MISA)
The rapid economic growth and diversification of Saudi Arabia’s economy under the Vision 2030 plan is unlocking foreign direct investment (FDI) opportunities at an unprecedented pace. The Ministry of Investment of Saudi Arabia (MISA) is facilitating access to these opportunities by nurturing a vibrant cross-government investment ecosystem.
MISA coordinates across the Saudi government to create a competitive investment environment that provides stability and clarity for investors. It does so by spearheading business friendly policies and regulatory reforms, creating investment incentives, facilitating investment data, opening investment opportunities across diverse sectors, and supporting Saudi companies to partner with and attract investment from foreign counterparts.
MISA is responsible for overseeing the implementation of Saudi Arabia’s National Investment Strategy (NIS), an ambitious plan launched in October 2021 to make private sector investors – both local and international – true partners in development, with state investment helping to de-risk, enable and ‘crowd-in’ investment. The NIS aims to triple investment, increase FDI from SAR 17bn to SAR 338bn, and grow investment as a percentage of GDP to 30% by 2030.
For more information on MISA, please visit our website or connect with #MISA on Twitter and LinkedIn.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240507130337/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Europe’s Most Advanced Weather Satellite Is Now Fully Operational4.12.2024 14:26:00 CET | Press release
The first of EUMETSAT’s Meteosat Third Generation (MTG) satellites became fully operational today. MTG-Imager 1 also receives a new name – Meteosat-12 – to mark the occasion. The two main instruments on board Meteosat-12, the Flexible Combined Imager (FCI) and the Lightning Imager (LI), play a crucial role in enabling meteorological services to help protect lives and livelihoods by providing high-resolution, accurate data for predicting severe weather events. Data from Meteosat-12’s instruments are now being disseminated to national meteorological services and others for operational use and are expected to have a significant impact on weather forecasting and understanding of our climate. “MTG is one of the most innovative and complex meteorological satellite systems ever built,” EUMETSAT Director-General Phil Evans said. “We have been working with our member states’ meteorological services to ensure they can make the best use of the data, which is essential for one of the main challeng
IDC MarketScape Positions TreviPay as a Major Player in Worldwide Accounts Receivable Automation Applications for the Enterprise4.12.2024 14:00:00 CET | Press release
TreviPay, the most-trusted B2B payments and invoicing network, today announced it has been named a Major Player in the IDC MarketScape: Worldwide Accounts Receivable Automation Applications for the Enterprise 2024 Vendor Assessment1. TreviPay was one of the 14 vendors with a SaaS or cloud offering to be evaluated for their accounts receivable (A/R) strategy and capabilities. The IDC MarketScape report highlighted a selection of TreviPay’s strengths including: Robust APIs: “The TreviPay suite of APIs enables merchants to directly integrate invoicing into any ecommerce platform, point-of-sale environment, or order management platform. In addition, TreviPay enables a white-labeled solution that may be embedded within the checkout, giving buyers a line of sight into how much credit they have available in real time. Terms to buyer and settlement with client are both independently configurable, enabling guaranteed DSO.” Expanding/Expansive Ecosystem: “The most recent investments include a st
New Research from NetApp Finds One in Five Companies Unable to Recover Data After Cyberattack4.12.2024 14:00:00 CET | Press release
Survey of cybersecurity leaders highlights the importance of data classification in enhancing cyber resilience NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, today announced the release of its latest report analyzing the state of cybersecurity and offering actionable insights to help organizations strengthen their cyber resiliency. The Futurum Group study, "Cloud, Complexity, AI: The Triple Threat Demanding New Cyber Resilience Strategies" sponsored by NetApp, provides a comprehensive analysis of evolving cyber threats and resiliency strategies. The study, which surveyed over 1,300 cybersecurity leaders across industries worldwide, reveals that more than 54 percent of organizations experienced a cyberattack in the past 12 to 18 months, with one in five unable to recover lost data. The report highlights the urgent need for enterprises to leverage intelligent data infrastructure to address growing risks posed by sophisticated threats, operational complexity, and the
Curtiss-Wright and Sintavia Deliver First Submarine Component Utilizing an Additively Manufactured Impeller to be Installed in a U.S. Navy Vessel4.12.2024 13:59:00 CET | Press release
Curtiss-Wright’s EMS Division today announced that it has delivered the first submarine component with an additively manufactured (AM) impeller that will be installed in a U.S. Navy vessel. Curtiss-Wright’s Engineered Pump Division (EPD) in Bethlehem, PA, Bechtel Plant Machinery Inc. (BPMI) in Monroeville, PA, and Sintavia, LLC in Fort Lauderdale, FL, collaborated to develop, manufacture, test, and supply the first submarine component utilizing a qualified, metal additively manufactured part. Sintavia, a leader in designing and manufacturing critical additively manufactured defense components, provided the AM impeller after a thorough qualification process. This impeller was assembled into the pump and tested at Curtiss-Wright’s facility in Bethlehem, PA. Additive manufacturing technology offers a solution to the development of a product or component that historically has been difficult or costly to manufacture, often resulting in delays. The use of this technology is expected to provi
LR Health & Beauty Records Strong Sales Growth of 7.2%4.12.2024 13:43:00 CET | Press release
The social commerce company in the food supplements and cosmetics sector presents report for Q3 2024 LR Health & Beauty – the leading digital social commerce company in Europe – has published its quarterly report for Q3 2024 and was able to announce a confirmation of the growth trend. The company, which specializes in nutritional supplements and cosmetic products, increased its sales significantly by 7.2% to EUR 69.4 million in the third quarter. The high demand for the new decorative cosmetics line LR ZEITGARD Signature and the large influx of new sales partners thanks to the realignment of the career plan were the primary contributors to this result. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241204411818/en/ The company headquarters of LR Health & Beauty in Ahlen, Germany. (Photo: Business Wire) Launch of decorative cosmetics line supports growth trend In October, LR Health & Beauty expanded its product range to inclu
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom