Category: Economy

Saudi Arabia’s Council of Economic and Development Affairs reviews October 2024 global and local economic developments, cybersecurity recognition, and Vision 2030 progress.

Saudi Building Exhibition 2024 in Riyadh drew over 30,000 visitors and 600 companies from 31 countries, marking 30% growth and advancing Vision 2030 goals.

Biban24 Forum in Riyadh showcases digital innovation, e-commerce, and blockchain, empowering SMEs and aligning with Saudi Vision 2030 goals for economic growth.

Minister Bandar Alkhorayef tells Biban24 Forum that Saudi Arabia is on the threshold of a promising industrial future, highlighting 800+ investment opportunities.

SAMA reduces Repo rate to 5.25% and Reverse Repo to 4.75%, aiming to maintain monetary stability and support Vision 2030 economic growth.

Monsha’at signs MoU with Mukatafa at Biban24 to enhance Saudi retail through training, franchise development, and SME support, aligning with Vision 2030 goals.

The Fankha Dates Festival 2024 opens in Al Kahfa, Hail, showcasing 40 farmers and 15 cottage-industry families, supporting Saudi Vision 2030 and agricultural heritage.

Saudi Arabia’s Biban24 forum day three saw 23 agreements and projects worth SAR580 million signed by Monsha’at, SME Bank, Kafalah and the Tourism Development Fund.

Dr. Ahmed bin Abdullah Al-Maghames, CEO of SOCPA, has been appointed to the IFAC board for a three-year term, boosting Saudi Arabia’s global financial role.

Biban24 Forum in Riyadh continues with sessions on technology in fashion and modern retail, plus the Entrepreneurship World Cup finals featuring 100 startups.

Saudi Press Agency participates as media partner for Biban24 Forum in Riyadh, providing extensive coverage of entrepreneurship and SME developments from November 5-9.

Twenty-four companies advance to the Entrepreneurship World Cup finals at Biban24 in Riyadh, competing for $1 million in prizes and support from Saudi partners.

Riyadh Region Municipality sponsors Cityscape Global 2024, showcasing urban innovation and Vision 2030 progress from November 11-14 at the Riyadh International Convention and Exhibition Center.

Monsha’at launches the Ibtikar24 Award at Biban 24 in Riyadh, offering training, cash prizes up to SAR 300,000, and a path to the Entrepreneurship World Cup.

Thirty-six startups secured direct angel investments at Biban24 in Riyadh, with deals rising from six on day one to 20 on day three, Monsha’at confirms.

The eighth Women’s Economic Forum will be held in Dammam on November 19-20 under the patronage of Eastern Region Governor Prince Saud bin Naif bin Abdulaziz, the ECCI announces.

Kafalah signed 10 agreements at Biban 24 Forum, unlocking SAR 350 million in financing guarantees to support small and medium enterprises across Saudi Arabia.

Biban 24 Forum, organized by Monsha’at, concludes its fifth day with Entrepreneurship World Cup qualifiers, featuring 100 startups competing for $1 million.

Franchise Door at Biban 24 concludes, showcasing 1,000+ franchise opportunities from 70+ brands across eight sectors, organized by Monsha’at in Riyadh.

Biban 24 Forum in Riyadh attracted over 70 incubators and accelerators, strengthening ties between entrepreneurs and investors in line with Saudi Vision 2030.

Biban24 Forum, organized by Monsha’at, concluded with agreements exceeding SAR35.4 billion, attracting over 182,000 visitors and 1,300 startups from 72 countries.

The Agricultural Development Fund participates in BIOFACH SAUDI ARABIA, the first organic agriculture exhibition in the MENA region, showcasing sustainable farming initiatives.

The Sixth International Festival of Jordanian Dates opens in Amman with 65 exhibitors, including Saudi participants, highlighting innovation and regional cooperation.

The Agricultural Development Fund concluded its participation in the 7th China International Import Expo in Shanghai, promoting Saudi agricultural investment and food security.

Saudi startup MisMar wins Entrepreneurship World Cup at Biban24, taking home $200,000. Global competition featured 100 startups from over 50 countries in Riyadh.

Cityscape Global 2024 opens tomorrow in Riyadh under the theme ‘The Future of Living,’ welcoming 500+ experts and investors representing $1.3 trillion in assets.

SAMA licenses Mal for Finance Aggregator Service, bringing the total to four licensed providers. This move boosts financial inclusion and innovation in Saudi Arabia.

MODON signs first GCC private sector deal with Oman’s Osara to build 52 ready-built factories in Jeddah, boosting FDI and SME growth in line with Vision 2030.

The Housing Program, a Vision 2030 initiative, participates in Cityscape Global 2024 in Riyadh, showcasing achievements and fostering partnerships in the real estate sector.

Qassim Region Municipality participates in Cityscape Global 2024, showcasing over 200 investment opportunities and supporting Saudi Arabia’s Vision 2030 goals.

Saudi Reef organizes an international training program in Morocco for Saudi agricultural extension specialists, enhancing skills and food security under Vision 2030.

Prince Faisal bin Bandar bin Abdulaziz will inaugurate the 11th Riyadh Economic Forum under King Salman’s patronage, focusing on Vision 2030 economic goals.

Saudi Ministries of Sport and Investment announce the launch of the Sports Investment Forum, set for April 7-9, 2025, in Riyadh, aiming to boost global sports investment.

The MARKETS project, funded by the Islamic Development Bank and Saudi Arabia’s SDRPY, plants 5,870 Sidr trees in Yemen’s Shibam District to boost honey production.

The Global Labor Market Conference (GLMC) will host a workshop titled ‘Silver and Bold: Shaping Tomorrow’s Workforce Together’ at the Misk Global Forum on November 19, 2024, in Riyadh.

Saudi Arabia hosts the fifth International Dates Conference and Exhibition in Riyadh from Nov 19-28, 2024, showcasing innovation and Vision 2030 progress.

Saudi Finance Minister Mohammed Al-Jadaan reaffirms the Kingdom’s commitment to multilateral action and sustainable development goals through the G20, sharing Vision 2030 insights.

Saudi Ports Authority (Mawani) launches Emirates Shipping Line’s EJBS service at Jubail Commercial Port, linking Saudi Arabia with UAE and Kuwait to boost trade.

Saudi Ministry of Industry and Mineral Resources selects 150 SMEs for ISO 9001 certification support under the Future Factories Initiative, boosting Vision 2030.

A delegation of 72 Saudi companies led by the Federation of Saudi Chambers will visit Poland and Slovakia to explore investment opportunities and sign agreements.

The Islamic Corporation for the Development of the Private Sector participated in a high-level COP29 session on scaling up climate finance through public-private partnerships.

Saudi Ministry of Commerce reports a 68% increase in commercial records since the New Companies Law, reaching 389,413 by Q3 2024, boosting entrepreneurship and investment.

Saudi Arabia’s GAFT joined the GCC’s 9th economic integration session in Doha, highlighting the private sector’s role in diversification and Vision 2030 goals.

Saudi Arabia’s new commercial register law is projected to boost local investment by up to 8.8%, saving businesses SAR80-110 million annually and expanding branches nationwide.

Saudi Power Procurement Company signs PPAs for five projects totaling 9,200 MW, attracting $9.3bn investment and advancing Vision 2030 energy goals.

Saudi Ambassador to Egypt Saleh bin Eid Al-Husseini received a Makkah Chamber of Commerce delegation in Cairo to discuss trade and investment cooperation.

Saudi endowment investment funds reach a record SAR1 billion in net assets in 2024, with 34 licensed funds and 29.3% growth, aligning with Vision 2030 goals.

Saudi Minister Faisal Alibrahim met Djibouti’s Ilyas Dawaleh in Riyadh to strengthen economic and trade collaboration, aligning with Vision 2030 goals.

SAMA Governor Ayman Al-Sayari affirms Saudi Arabia’s pivotal role in supporting global economic recovery and financial stability through active G20 engagement.

Saudi Minister Ahmed Al-Rajhi chairs panel at 11th Riyadh Economic Forum, highlighting labor market achievements and Vision 2030 progress.

Prince Saud bin Naif inaugurates the 8th Women’s Economic Forum 2024 in Dammam, organized by the Eastern Chamber of Commerce and Industry to empower Saudi women under Vision 2030.

Riyadh hosts the fourth International Dates Council session tomorrow, reviewing the annual report and 2025 work plan alongside the World of Dates exhibition.

CIBAFI hosted a Jeddah symposium on AI and fintech in Islamic finance, drawing 100+ participants to discuss innovation, Sharia compliance, and financial inclusion.

The Islamic Development Bank participated in the fourth AfTIAS 2.0 board meeting in Doha, focusing on SME support and 23 approved projects across six Arab countries.

The 66th AIDSMO Executive Council session in Agadir, Morocco, gathered 11 Arab delegations to advance industrial integration, standardization, and SME support.

SEC, ACWA Power and KEPCO sign a SAR15 billion power purchase agreement for Rumah 1 and Nairyah 1, adding 3.6 GW of efficient gas capacity in Saudi Arabia.

The National Debt Management Center concludes its November 2024 SAR-denominated Sukuk issuance at SAR 3.415 billion, reinforcing Saudi Arabia’s economic strategy and Vision 2030 goals.

Saudi Minister Bandar Alkhorayef tells the Misk Global Forum that industry and mining offer promising opportunities for young entrepreneurs and innovators.

Saudi Economy Minister Faisal Alibrahim reaffirms the Kingdom’s determination to cooperate with international partners to achieve the Sustainable Development Goals.

ZATCA urges businesses with annual supplies over SAR40 million to file October VAT returns by November 30, 2024, via its website or mobile app to avoid penalties.

Capital Market Authority Chairman Mohammed Elkuwaiz encourages youth to start investing early at Misk Global Forum, highlighting financial literacy and Vision 2030.

GASTAT releases its Livestock Statistics Publication for 2023, revealing 2.8 billion liters of raw milk, 22 million sheep, and 7.9 billion table eggs in Saudi Arabia.

Saudi Minister of Economy and Planning Faisal Alibrahim highlights local content as key to economic diversification under Vision 2030 at the Local Content Forum in Riyadh.

Monsha’at launches the sixth Ebtker Award to foster innovation among Saudi SMEs, offering training, mentorship, and SAR300,000 in prizes. Register now.

Saudi Ambassador to Egypt Saleh Al-Husseini attends the Egypt International Dates Forum and Exhibition, highlighting Saudi dates and Vision 2030 export goals.

Saudi Arabia Railways and LCGPA launch a program to localize railway manufacturing, offering SAR 15 billion in investment opportunities and 3,000 jobs by 2030.

Saudi Minister Alfadley announces 11% growth in date production over five years, highlighting the International Date Council’s role in sustainability and food security.

CIBAFI convened its ninth Innovation and Technology Working Group meeting in Jeddah, highlighting the Digital Transformation Guide and Global Islamic Bankers’ Survey 2025.

ICIEC, a member of the IsDB Group, announces $2.35 billion in insurance coverage for 50 member countries, focusing on clean energy and climate resilience.

The Capital Market Authority invites public feedback on amendments to facilitate investment accounts for various investors, aiming to boost market attractiveness and align with Vision 2030.

Saudi Industry Minister Bandar Alkhorayef says competitive national products are key to local content goals under Vision 2030, speaking at the Local Content Forum 2024.

The Local Content and Government Procurement Authority launches a Gold Category for the Saudi Industry Label, boosting local content and Vision 2030 goals.

Mawani meets major feeder ship companies in Dubai to enhance Saudi port connectivity, boost competitiveness, and support Vision 2030 logistics goals.

Saudi Minister Abdulrahman Alfadley inaugurates the fifth International Dates Conference and Exhibition in Riyadh, showcasing innovation and Vision 2030 alignment.

Saudi Arabia hosts the inaugural International MICE Summit (IMS24) from December 15-17 in Riyadh, uniting 1,000+ global leaders to shape the future of business events.

Paper Middle East Saudi Arabia 2024 concluded in Jeddah after three days of exhibitions, partnerships, and sustainable solutions, supporting Saudi Vision 2030 industrial growth.

Global experts at the fifth International Dates Conference in Riyadh discussed climate change impacts on date palm cultivation, highlighting Saudi Arabia’s leading role in date production and export.

Saudi Rail 2024 concluded in Riyadh with over 16,000 visitors and key agreements signed, advancing Saudi Arabia’s rail sector and Vision 2030 goals.

Saudi Arabia joins the International Partnership for the Hydrogen and Fuel Cells in the Economy, advancing clean-energy leadership and Vision 2030 goals.

Saudi Vice Minister of Commerce Dr. Eman Al-Mutairi led a delegation to the UK to boost trade, investment, and education partnerships under Vision 2030.

Aseer’s Sidr honey season thrives after heavy rains, boosting local markets with premium honey priced SAR350-500/kg. Ministry supports sustainable beekeeping.

Moody’s Ratings upgrades Saudi Arabia’s credit rating to ‘Aa3’ with a stable outlook, citing economic diversification and non-oil sector growth, reinforcing Vision 2030 progress.

Saudi EXIM hosted the Berne Union’s Country Risk Specialist Meeting in Riyadh, gathering experts from 47 organizations across 33 countries to discuss global trade risks.

The ninth Al-Hariq Citrus Festival will run from January 1-10, 2025, showcasing premium citrus and agricultural products under the patronage of Prince Faisal bin Bandar.

Saudi Arabia will host the fourth Real Estate Future Forum in Riyadh from January 27-29, 2025, welcoming 500+ speakers and delegates from over 120 countries.

Saudi Arabia’s SCEGA delegation, led by Chairman Fahd Al-Rasheed, participated in the UFI Global Congress in Cologne, showcasing the Kingdom’s growing MICE sector and Vision 2030 ambitions.

The Royal Commission for AlUla showcases 12 farms at the 2024 International Dates Conference, highlighting Barni, Medjool, and Hilwah varieties and winning an innovation award.

Saudi Ministry of Environment, Water, and Agriculture reaffirms four enablers to strengthen local content and achieve food and water security under Vision 2030.

Under the patronage of HRH Crown Prince Mohammed bin Salman, Saudi Arabia hosts the 28th World Investment Conference in Riyadh from November 25-27, 2024, showcasing Vision 2030 investment opportunities.

Saudi Arabia’s GFSA approves licensed flour milling companies to export surplus flour to international markets, boosting Vision 2030 economic diversification.

GASTAT reports a 22.8% surge in Saudi non-oil exports for September 2024, highlighting Vision 2030 diversification success and growing global trade role.

SAMA licenses Bawabat Al-Umulat Exchange to trade foreign currencies in Saudi Arabia, bringing total licensed money exchangers to 65 and boosting financial inclusion.

The 28th annual World Investment Conference began in Riyadh on Nov 25, 2024, under Crown Prince Mohammed bin Salman, showcasing Saudi Arabia’s Vision 2030 investment successes and global cooperation.

Preqin report with SVC reveals 97% of Middle East institutional investors view Saudi Arabia as the most promising market for private debt funds in 2024.

WAIPA President Nivruti Rai commends Saudi Vision 2030 as a blueprint for economic, social, and tourism development at the 28th World Investment Conference in Riyadh.

Egyptian Minister of Investment and Foreign Trade Eng. Hassan El Khatib emphasizes boosting Saudi investments in Egypt at the 28th World Investment Conference in Riyadh.

Saudi Arabia ranks first in Arab region and 20th globally in QI4SD 2024, climbing 25 places. Achievement highlights Kingdom’s quality infrastructure advancements.

Saudi Arabia’s franchise registrations jump 866% to 1,788 by Q3 2024, led by tourism and restaurants, reflecting Vision 2030 economic diversification.

Saudi Cabinet, led by King Salman, will approve the 2025 state budget tomorrow, advancing Vision 2030 with strategic investments and fiscal discipline.

Minister of Finance Mohammed Al-Jadaan will announce Saudi Arabia’s 2025 budget at a government news conference tomorrow, detailing fiscal priorities and Vision 2030 alignment.