Category: Economy

The Coastal Highway in Jazan, spanning 112.5 km, enhances tourism, economic development, and connectivity, supporting Saudi Vision 2030 goals.

Over 12,000 cartons of Al-Baha pomegranates shipped to Riyadh, Jeddah, and Makkah in 4 weeks via refrigerated trucks, boosting Saudi agriculture and Vision 2030 goals.

The Ministry of Environment, Water, and Agriculture grants the first commercial aeroponics license in the Middle East to Green Dunes Company, advancing sustainable agriculture and Vision 2030.

Madinah Dates Season 2024 launches today with 10 days of workshops on agriculture, AI, and financing to boost Saudi date production and exports.

The 13th National Pomegranate Festival in Al-Baha generated SAR2 million and attracted 60,000 visitors, highlighting Saudi Arabia’s agricultural and tourism success.

The AlUla Dates Festival sees a surge in high-quality date offerings, supported by an electronic tracking system, boosting local farmers and Vision 2030 goals.

Saudi Ministry of Commerce reports 62% increase in commercial registrations for Q3 2024, reaching 135,000 new registrations and over 1.5 million total.

ZATCA calls on establishments to submit September withholding tax forms by October 10, 2024, to avoid penalties. Learn more about compliance and support.

At the Madinah Dates Season exhibition, 72-year-old farmer Talal Abu Ouf shares over 55 years of date cultivation experience, highlighting Saudi Arabia’s rich agricultural heritage and Vision 2030 alignment.

AgriServ issued 9,683 agricultural licenses in Q3 2024, covering fish, plant, livestock, veterinary, and market sectors, advancing Saudi Vision 2030 food security goals.

The General Food Security Authority grants its fourth wheat import tender for 2024, securing 307,000 tons to maintain strategic reserves and support Vision 2030.

The third seasonal dates exhibition in Riyadh, organized by AgriServ, attracts over 113,000 visitors, showcasing high-quality Saudi dates and supporting Vision 2030.

SRC and Damanat signed an MoU to guarantee residential mortgage portfolios, aiming to reduce financing costs, increase homeownership, and attract investors in line with Vision 2030.

Saudi Arabia’s fish farm production jumps 56.4% since 2021, reaching 140,000 tons in 2023, boosting food security and Vision 2030 goals.

SOCPA will host the Accounting Technologies Conference in Riyadh from October 16-19, 2024, focusing on AI and technology in accounting, alongside the Accounting Solutions Hackathon 2.

The ITFC and Central Bank of Nigeria concluded a workshop on Islamic banking and trade finance, enhancing skills and promoting sustainable economic development.

Saudi Arabia successfully concluded its participation in the Startup20 Summit in São Paulo, Brazil, signing three strategic agreements and showcasing 30 entities.

The Digital Cooperation Organization and GCC Commercial Arbitration Centre signed an MoU in Manama to promote a fair, inclusive digital economy through reliable arbitration.

Saudi Arabia’s cement exports exceeded 8.48 million tons in 2023, with production capacity over 80 million tons annually, supporting Vision 2030 and global markets.

Mawani reports a 7.82% surge in cargo tonnage at Saudi ports in September 2024, reaching 28.1 million tons, driven by export and import container growth.

Almarai and Algharbia Farms sign MoU to localize egg powder production in Saudi Arabia, enhancing food security and aligning with Vision 2030 goals.

Saudi Arabia and Egypt deepen technology and investment ties at Riyadh forum, fostering digital economy growth, entrepreneurship, and innovation in line with Vision 2030.

Indian commercial delegation meets Eastern Province Chamber of Commerce to explore electronics manufacturing and IT sectors, strengthening Saudi-India trade ties.

Saudi Minister of Economy and Planning Faisal Alibrahim met Vietnamese Deputy Prime Minister Ho Duc Phoc in Hamburg to discuss economic cooperation and Vision 2030 alignment.

Saudi-Egyptian Joint Committee meets in Cairo to boost trade and investment, with trade reaching $8 billion in H1 2024, up 41%.

The Islamic Development Bank raises $1.25 billion through its second public Sukuk issuance of 2024, supporting sustainable development in 57 member countries.

Estidamah conducts a workshop in Jazan on sustainable mango cultivation amid climate change, promoting knowledge transfer and modern techniques to boost productivity.

Japanese stocks closed higher on October 9, 2024, with the Nikkei rising 0.87% to 39,277.96 points, driven by technology shares and Chinese stimulus hopes.

The Saudi Industrial Development Fund will host a two-day training camp for the third Industrial Hackathon, with 206 participants competing for SAR1.4 million in prizes.

The Transport General Authority reports over 85 million postal shipments delivered in H1 2024, averaging 472,000 daily, handled by 70+ logistics companies in Saudi Arabia.

The Saudi Real Estate General Authority (REGA) participates in Restatex exhibition at Jeddah Superdome from October 10 to 13, showcasing housing solutions and investment opportunities.

Mohammed bin Abdullah Elkuwaiz inaugurates the third Financial Academy Forum 2024 in Riyadh, highlighting sustainable talent growth and global partnerships to empower Saudi Arabia’s financial sector.

Over 20 Canadian tech firms show interest in Saudi Arabia’s digital transformation, targeting the Kingdom’s 166 billion riyal telecom and tech market.

The steering committee for the MARKETS project, funded by IsDB and SDRPY, held its second meeting in Riyadh to review progress on enhancing market access for Yemeni coffee, honey, and onions.

Saudi Real Estate General Authority concludes successful participation in EXPO REAL 2024 in Munich, showcasing regulations and digital platforms to global investors.

Jazan City for Primary and Downstream Industries achieves LEED Platinum certification from USGBC, marking a milestone in sustainable industrial development in Saudi Arabia.

Estidamah launches saffron localization project in Riyadh, Qassim, Tabuk, and Al-Baha to double domestic production and support Vision 2030.

GASTAT reports Saudi Arabia’s Industrial Production Index increased by 1.0% in August 2024, driven by a 7.0% surge in non-oil activities, aligning with Vision 2030.

Japan’s Nikkei 225 rose 0.26% to 39,380.89 points, with Topix up 0.2% to 2,712.67. SPA reports as investors await US inflation data.

Madinah Dates Season supports 35 families in the cottage industry through expert-led workshops, enhancing skills and preserving heritage in line with Saudi Vision 2030.

Biban 24’s Start Door offers 16,000+ training opportunities in 370+ sessions, empowering entrepreneurs in Saudi Arabia and aligning with Vision 2030.

Official data reveals Qassim’s mineral wealth at SAR122.3 billion, boosting Saudi Vision 2030 economic diversification efforts.

Saudi Ports Authority (Mawani) signs MoU with Hamburg Port Authority and Hamburg Port Consulting to enhance port efficiency, digital transformation, and sustainability.

Saudi Central Bank licenses BOUABA TSHIL for consumer microfinance via fintech, raising licensed microfinance firms to six and total financing companies to 61.

The third Financial Academy Forum in Riyadh concludes, highlighting sustainable talent growth, AI integration, and Vision 2030 alignment with over 3,000 participants.

President Zardari receives Saudi Investment Minister Al-Falih in Islamabad to discuss investment in agriculture, minerals, and IT, strengthening Saudi-Pakistani ties.

Saudi Arabia and Oman sign a five-year MoU to enhance cooperation in economic planning, green economies, and sustainable development, aligning with Vision 2030.

Saudi GAFT launches anti-dumping probe into Chinese titanium dioxide imports, reinforcing fair trade practices and Vision 2030 economic diversification.

The 2024 Saudi-Pakistani Business Forum in Islamabad brought together officials and business leaders to sign cooperation agreements and boost economic ties.

Saudi Arabia and Egypt deepen economic ties at the Saudi-Egyptian Joint Committee follow-up meeting in Cairo, boosting trade and strategic cooperation.

Saudi Arabia hosts the Multilateral Industrial Policy Forum in Riyadh, focusing on sustainable industrial policies, digital technologies, and global supply chain resilience.

Reef Saudi launches an international training program for farmers, featuring study tours and FAO collaboration, to enhance skills and promote sustainable agriculture in line with Vision 2030.

Pakistani Prime Minister Shehbaz Sharif received Saudi Minister of Investment Khalid Al-Falih to discuss expanding investment in agriculture, mining, and infrastructure.

Egyptian Minister of Investment and Foreign Trade Eng. Hassan Al-Khatib met with Saudi General Authority of Foreign Trade Undersecretary Abdulaziz bin Omar Al-Sakran in Cairo to strengthen bilateral trade and investment ties.

The Future Investment Initiative Institute will hold a news conference on October 15 to unveil details of the 8th FII conference, themed ‘Infinite Horizons’, taking place in Riyadh from October 29-31.

SOCPA hosts the Accounting Technologies Conference in Riyadh from October 16-19, focusing on AI and technology in accounting, with Saudi Aramco as strategic sponsor.

Estidamah collaborates with Dutch Greenhouse Delta and NEOM Topian to launch a four-week greenhouse crop management program, training 75 professionals in sustainable agriculture.

Biban24, from Nov 5-9 in Riyadh, will host over 40 public and private entities to support entrepreneurs and SMEs, aligning with Saudi Vision 2030.

Ministry of Environment, Water, and Agriculture hosts workshop to boost broiler pigeon breeding, targeting 16 million birds annually to enhance food security and support Vision 2030.

GCC Secretary General Jasem Albudaiwi highlights the region’s promising economic and trade prospects as a focal point for countries worldwide.

KSIADC and ewpartners sign MoU to establish a special economic zone for e-commerce and logistics at King Salman International Airport, advancing Vision 2030.

The second Madinah Buildex exhibition for real estate, construction, and design concluded successfully, attracting 120 exhibitors and widespread attendance.

The General Entertainment Authority and Social Development Bank sign an agreement to support cottage industry families and entrepreneurs during Riyadh Season 2024, aligning with Vision 2030.

Saudi Minister Bandar Alkhorayef concluded a visit to Spain to boost industrial and mining cooperation, inviting Spanish leaders to the Future Minerals Forum in Riyadh.

The Agricultural Development Fund participates in the 41st Saudi Agriculture exhibition, showcasing financing programs and farmer success stories in Riyadh.

PIF establishes sarcc to develop and operate high-quality staff accommodation for major projects in Saudi Arabia, aligning with Vision 2030 goals and international standards.

ZATCA calls on businesses to submit VAT returns for September and Q3 2024 by October 31. Learn about deadlines, penalties, and how to comply via digital channels.

Monsha’at announces Biban24 Forum from Nov 5-9 in Riyadh, featuring international agreements and billion-dollar initiatives to boost SMEs and Vision 2030.

Ministries of Industry and Investment announce first batch of companies for Saudi Arabia’s Exploration Enablement Program, targeting strategic minerals and Vision 2030 goals.

The 41st Saudi Agricultural Exhibition opens in Riyadh, showcasing global innovations and investment opportunities in agriculture from October 21-24, 2024.

MODON launches first Excellence Award with 12 prizes for factories and individuals in Saudi Arabia’s industrial sector, supporting Vision 2030 and sustainable development.

Saudi Minister of Finance Mohammed Aljadaan heads the Kingdom’s delegation to the IMF-WBG annual meetings and 4th G20 FMCBG meeting in Washington, D.C., underscoring Saudi Arabia’s global economic leadership.

Saudi Aramco CEO Eng. Amin Al-Nasser proposes Transition Plan 2.0 at SIEW, focusing on Asia’s needs and equitable energy transition.

The Capital Market Authority invites public feedback on draft amendments to Investment Funds Regulations, aiming to enhance investor protection for retail clients in private and foreign funds.

One hundred companies from 52 countries will compete in the Entrepreneurship World Cup finals in Riyadh from November 5-9, part of the Biban 24 Forum, for $1 million in prizes.

Saudi Power Procurement Company announces shortlisted consortiums for four solar projects under the fifth phase of the National Renewable Energy Program, totaling 3,700 MW and SAR 8 billion in investment.

Saudi Finance Minister Mohammed Al-Jadaan participates in PIIE Macro Week in Washington, D.C., emphasizing multilateral action and support for low-income nations.

Saudi Arabia’s ARDARA signs strategic contracts with Parsons and OBMI to develop AlWadi, a 2.5 million sqm waterfront destination in Abha, boosting Vision 2030 tourism and economic goals.

Saudi delegation led by Fareed Al-Asaly participates in the fourth G20 Trade and Investment Working Group meeting in Brasilia, focusing on trade, sustainability, and WTO reform.

Beekeepers in Taif boost honey production while preserving natural properties, leveraging the region’s rich flora to meet high standards and support Vision 2030 goals.

Monsha’at allocates E-Commerce Door at Biban24 Forum, November 5-9 in Riyadh, connecting entrepreneurs with 59 service providers to drive digital retail growth.

Riyadh hosts the Multilateral Industrial Policy Forum on Oct 23-24, 2024, marking the first time the UNIDO-affiliated event is held outside Vienna.

The Islamic Corporation for the Development of the Private Sector signs a €15 million financing deal with Sampa to build a 21 MW solar plant in Türkiye, advancing renewable energy and Vision 2030 goals.

IsDB President Muhammad Al Jasser met Libya’s Finance Minister Khaled Al-Mabrouk in Washington to discuss expanded financing and strengthening Libya-IsDB ties.

IsDB President Dr. Muhammad Al-Jasser met Rwanda’s Finance Minister Yusuf Murangwa and State Minister Linda Rusagara in Jeddah to discuss sustainable development and scholarships.

The National Debt Management Center closes October 2024 sukuk issuance, allocating SAR7.830 billion across five tranches, reinforcing Saudi Arabia’s Islamic finance leadership and Vision 2030 goals.

Saudi Arabia’s FDI inflow reached SAR96bn ($25.5bn) in 2023, exceeding the National Investment Strategy target by 16%, according to official SPA data.

Saudi Arabia showcases agricultural innovations at the 41st Saudi Agriculture exhibition in Riyadh, drawing 370+ companies from 29 countries to advance sustainable farming.

Discover how Jazan’s jasmine, with over 1,000 farms and 500,000 trees, is transforming from a cultural symbol into a key economic driver aligned with Saudi Vision 2030.

Saudi Arabia’s GAC approved 60 economic concentration requests in Q3 2024, a record quarterly high and a 53% increase year-on-year, official figures show.

Saudi Arabia’s Ministry of Environment, Water, and Agriculture announces SAR37 billion in private investments for sustainable agriculture, aligning with Vision 2030 and the National Agriculture Strategy 2034.

Global industrial leaders gathered in Riyadh for the Multilateral Industrial Policy Forum (MIPF) to discuss future skills development and sustainable industrial growth.

Saudi Arabia’s NIDLP participates in the 2024 Multilateral Industrial Policy Forum in Riyadh, showcasing industrial achievements and Vision 2030 alignment.

Estidamah highlights latest technologies and research at the Saudi Agriculture Exhibition, signing MoUs to advance sustainable agriculture and Vision 2030 goals.

The Islamic Development Bank participated in the 112th G-24 meeting in Washington, D.C., focusing on global economic challenges, debt crises, and climate initiatives.

Islamic Development Bank President Dr. Muhammad Al Jasser met IFSB Secretary-General Dr. Ghiath Shabsigh in Washington to discuss sukuk, green finance, and Islamic finance regulation.

The 41st Saudi Agriculture exhibition in Riyadh showcased global innovations from 28 countries, highlighting smart farming and Vision 2030 alignment.

The Islamic Development Bank participated in ACG-WBG meetings in Washington, focusing on joint financing for infrastructure, climate action, women and youth.

Royal Commission for AlUla to present its sustainable development vision and investment opportunities at the FII Forum in Riyadh from October 29-31, 2024.

Madinah Dates Season concludes with over 215,000 visitors and SAR633 million in sales from 53 million kilograms of dates, showcasing Saudi Arabia’s agricultural success.