The Communications and Information Technology Commission (CITC) revealed that the monthly average value of orders placed through delivery apps rose to one billion riyals in the first quarter of 2021, representing a growth rate of 45% compared to the first quarter of 2020, as a result of providing a secure regulatory environment that safeguards the rights of all parties and fosters an attractive, dynamic, and sustainable investment climate since it assumed responsibility for regulating the postal sector in the second half of 2019.
The Authority noted that enabling and certifying delivery apps through the regulatory sandbox it recently launched contributed to a 33% increase in the monthly average number of orders, bringing the total to nearly 9.2 million orders. Additionally, the monthly average number of electronic payments processed through delivery apps rose to 8.1 million transactions, representing a growth rate of 128%.
As part of its plans, the Authority has worked to stimulate investment and support entrepreneurship and innovation in the delivery app sector through online platforms by attracting foreign investment and supporting its growth, thereby increasing its impact on the digital economy and contributing to the gross domestic productnon-oil GDP.
The Authority recently held a series of workshops with the Saudi Stock Exchange “Tadawul” and other entities to encourage delivery app companies in the Kingdom to list on the financial markets, explain the listing requirements, and highlight the resulting benefits. In partnership with the Saudi Stock Exchange “Tadawul,” the Authority also supports all efforts aimed at facilitating the listing procedures for four delivery app companies on the Saudi market.