Lokesh Choudhary · · 1 min readAnt International to partner with Saudi Arabia ministry for local entry
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Saudi Arabia’s Ministry of Investment (MISA) has entered into a partnership with Ant International to support the latter’s expansion into the country.
Under the terms of deal, MISA will help Ant International acquire the necessary licenses and permits to operate and establish an entity in Saudi Arabia.
According to a statement, the country will serve as launchpad for Ant International’s further ventures into the Middle East. The region offers an “enormous opportunity for expansion,” said Douglas Feagin, president of Ant International.
Meanwhile, Alipay+, the cross-border digital payments and marketing platform operated by Ant International, has teamed up with Pakistani fintech platform NayaPay to “boost global payments” into the country.
Alipay+ has also been expanding in Southeast Asia since last year. In September 2023, the platform announced integrations with digital payment providers in the Philippines. It has also set up integrations for its mobile wallet ecosystem in Thailand, among other countries.
See also: Mapping Middle Eastern investors fueling Asian tech firms
Editing by Miguel Cordon and Eileen C. Ang
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