News

Saudi attracts 184 foreign company headquarters in 2024

Saudi Arabia has attracted a record 184 foreign companies to relocate their regional headquarters to the Kingdom in the first half of 2024, according to the Ministry of Investment of Saudi Arabia.

Further analysis of the figures reveal that the first quarter of 2024 saw an exceptional tally of 127 companies secure licenses to establish their regional offices within Saudi Arabia. The second quarter...

03/09/24

Saudi Arabia introduces unified investment law amid further reform

Saudi Arabia recently unveiled a transformative update to its investment law, introducing a unified framework designed to offer investors unparalleled transparency, flexibility and confidence. This landmark reform, part of the Vision 2030 and National Investment Strategy initiatives, is set to revolutionize the investment and regulatory landscape in the Kingdom.

The updated law signifies a major...

20/08/24

Saudi Arabia permits 100% foreign owned businesses

Saudi Arabia is paving the way for unprecedented international investment with its groundbreaking policy allowing 100% foreign ownership across most business sectors. This progressive move is set to attract a wave of global capital and entrepreneurial talent.

At the recent Saudi-Korean Business Forum held in Seoul, South Korea, the Saudi Minister for Commerce highlighted how [Saudi Arabia's Vision...

06/08/24

Saudi Arabia to dominate world's construction market

Saudi Arabia is poised to become the world’s largest construction market as the Kingdom pours vast resources into projects aimed at diversifying the economy. The London based real estate consultancy group Knight Frank recently reported the country’s total construction output value is forecast to reach SAR 679 (USD 181.5 billion) by the end of 2028, up almost 30% from 2023.

It is predicted that...

23/07/24

Saudi women hold over 1,700 key posts in employment market

Saudi women leaders amounted to 1,707 thanks to the leadership training and guidance initiative by the Ministry of Human Resources and Social Development under the Vision 2030.

Importantly, the figure exceeded the target of 1,000 according to a recent report released by the Ministry. Further statistics revealed that the total number of women to benefit...

09/07/24

Saudi Arabia’s PIF launches company to enter space sector

Saudi Arabia’s space and satellite sector is set to receive a strategic boost with the Kingdom’s wealth fund establishing the Neo Space Group.

The wholly owned Public Investment Fund (PIF) company aspires to become a national champion in the sector by developing local capabilities and boosting its strategic position within the growing global space economy....

25/06/24

Saudi and IBM developing AI in several Arabic dialects

Saudi Arabia and IBM have joined hands to pioneer a transformative project - a generative AI programme designed to embrace the rich tapestry of Arabic dialects.

This innovative venture, spearheaded by the Saudi Data and Artificial Intelligence Authority (SDAIA), promises to revolutionise communication in the Arab world.

The cornerstone of this collaboration is the integration of SDAIA's Arabic...

04/06/24

Saudi Arabia to welcome European Chamber of Commerce

Saudi Arabia will see the first European Chamber of Commerce in the Gulf region open in Riyadh, according to the EU’s special representative for the Gulf region.

The inaugural European Chamber of Commerce is a pioneering venture poised to redefine Saudi Arabia's economic landscape. This landmark development promises to catalyse robust partnerships between Saudi and European enterprises, fostering...

21/05/24

Saudi Arabia's non-oil activity increasing in line with Vision 30

Saudi Arabia's non-oil business activity grew at a steady rate in April according to a recently published survey with domestic demand driving output.

The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index (PMI) stood at 57.0 in April, the same as March and well above the 50.0 mark denoting expansion in activity. The Output subindex was recorded...

07/05/24

Saudi Arabia attracting GCC companies to lucrative opportunities

Saudi Arabia is attracting an influx of companies from across the Gulf Cooperation Council (GCC) due to burgeoning prospects and transformative development sweeping through the Kingdom.

Moreover, the Saudi economy's increasing demands, from infrastructure to housing and energy, herald an imminent surge in employment opportunities,...

23/04/24