Category: Economy

Governor of the Northern Border Region Prince Faisal bin Khalid congratulates Saudi beekeeper Satam Alshammari on winning the Gold Shield at the Paris International Honey Awards.

Saudi Minister of Economy and Planning Faisal Alibrahim meets Canadian Ambassador Jean-Philippe Linteau to discuss strengthening economic cooperation and mutual interests.

GASTAT reports Saudi women’s labor force participation reached 36.2% in Q3 2024, with unemployment at 7.8% as Vision 2030 reforms expand economic opportunity.

Saudi Arabia’s Wage Protection Program safeguards 8.5 million workers and processes SAR35 billion monthly, enhancing labor market integrity and Vision 2030 goals.

The ninth Al-Hariq Citrus Festival opens January 1, 2025, showcasing over 20 local citrus varieties under the patronage of Riyadh Governor Prince Faisal bin Bandar.

SAMA licenses Tal Finance for debt-based crowdfunding, bringing total authorized companies to 12 and SAMA-licensed finance companies to 62, boosting financial inclusion.

Saudi public investment fund assets rose 37% to SAR160.087 billion at end of Q3 2024, with 84% domestic. Subscribers up 51% to 1.57 million, funds total 310.

SAMA licenses HIBERBAY INK AL-SAOUDIA For IT Systems to provide e-wallet solutions, bringing licensed payment service companies in Saudi Arabia to 27.

Saudi Venture Capital invests in Global Ventures III, a $150M early-stage fund targeting tech startups in Saudi Arabia, MENA, and Sub-Saharan Africa.

Mawani adds Milaha’s MIX 2 shipping service to King Abdulaziz Port in Dammam, linking Iraq and India, boosting trade and Vision 2030 logistics goals.

Saudi Arabia’s Human Resources Development Fund facilitated employment of 169,000 Saudis in Q3 2024, investing SAR1.4 billion in training and empowerment programs.

Coffee cultivation in Rijal Almaa has reemerged as a key economic activity in Aseer, with 286 farms and over 93,000 trees supporting Vision 2030 goals.

Taif Governorate will host the Rose and Aromatic Plants Global Forum in April 2025, aiming to boost production to over 2 billion roses annually by 2030.

Global Student Entrepreneur Awards Saudi 2024/25 begins tomorrow in Jeddah, supporting young entrepreneurs and aligning with Saudi Vision 2030 goals.

Saudi Arabia’s trade surplus reached SAR 20.769 billion in October 2024, up 30% monthly, as total trade volume hit SAR 164.794 billion, official data shows.

The National Debt Management Center finalizes a $2.5 billion Shariah-compliant revolving credit facility to support Saudi Arabia’s general budgetary needs and Vision 2030.

Mawani’s 2024 achievements: improved global rankings, SAR 2.9bn logistics zones, 34 new shipping services, and Vision 2030 alignment. Saudi Arabia’s logistics hub status grows.

Aseer’s fish production exceeds 4,000 tons annually, valued at SAR155 million in 2024, driven by Ministry of Environment, Water, and Agriculture initiatives.

Saudi Investment Promotion Authority signs MoU with Japan’s Mizuho Bank to boost investment opportunities, supporting Vision 2030 economic diversification.

Saudi Central Bank launches trial phase of eSAMA portal, offering 23 digital services to individuals, government entities, and businesses in a secure online platform.

Saudi Arabia’s Ministry of Industry and Mineral Resources introduces 15 enablers and incentives for companies under the Saudi Authorized Economic Operator Program, boosting exports and global market access.

Saudi Finance Minister Mohammed Al-Jadaan participated in the Islamic Development Bank Group’s Board of Governors’ retreat in Madinah to shape the bank’s 2026-2035 strategy.

Saudi and Omani finance ministers signed an MoU in Madinah to boost financial cooperation, exchange expertise, and coordinate on international financial issues.

GCC Secretary General Jasem Albudaiwi leads participation in the 2025 Asian Financial Forum in Hong Kong, highlighting cooperation on global economic challenges and Vision 2030 alignment.

The General Entertainment Authority and Ministry of Investment launch 29 new entertainment investment opportunities on Invest Saudi, boosting Vision 2030 economic diversification.

Mada e-commerce sales reached SAR17.44 billion in November 2024, up 29.4% year-on-year, with 98.7 million transactions, per Saudi Central Bank data.

Saudi Reef has provided SAR 2.4 billion in support to rural beneficiaries since launch, reaching over 77,400 people including 57,400 women, in line with Vision 2030.

The U.S.-Saudi Business Council leads eight North American companies to the 4th Future Minerals Forum in Riyadh, boosting Saudi Arabia’s mining sector and Vision 2030.

Saudi Ministry of Industry and Mineral Resources awards six exploration licenses to local and international bidders, advancing Vision 2030 mining goals with SAR126m exploration commitment.

Aramco’s North Ghawar Oil Producing Complex becomes the fifth Aramco facility in the World Economic Forum Global Lighthouse Network, highlighting Saudi leadership in industrial digitalization.

Over 250 Portuguese companies complete specialized training in Lisbon to enter the Saudi market, supported by the Saudi-Portuguese Business Council and Vision 2030.

Saudi Arabia signed mining agreements with Djibouti, Jordan, UK, Zambia, Austria, and France at the fourth Future Minerals Forum, advancing Vision 2030 goals.

Saudi Minister Faisal Alibrahim meets Finnish Minister Wille Rydman to discuss economic collaboration and global developments, advancing Vision 2030 goals.

GCC Secretary-General Jasem Albudaiwi highlights the Gulf’s economic strength at the Asian Financial Forum 2025 in Hong Kong, showcasing opportunities for cooperation.

Saudi Arabia’s annual inflation rate reached 1.9% in December 2024, the lowest among G20 countries, according to GASTAT’s latest Consumer Price Index report.

Saudi Arabia’s date production exceeded 1.9 million tons in 2023, with 37.1 million palm trees nationwide, according to the Ministry of Environment, Water, and Agriculture.

Saudi Arabia’s broad money supply (M3) reached SAR2,945,656 million by November 2024, up 10.3% annually, reflecting robust economic growth and Vision 2030 progress.

SAMA and Google sign agreement to launch Google Pay in Saudi Arabia during 2025 through mada, advancing Vision 2030 digital payments goals.

Saudi Finance Minister Al-Jadaan tells Future Minerals Forum that investment and private-sector partnership are key to developing the Kingdom’s mining sector under Vision 2030.

Saudi Ports Authority (Mawani) reports 14.45% increase in cargo throughput for 2024, reaching 320.7 million tons, advancing Vision 2030 logistics goals.

Saudi Arabia’s fourth Future Minerals Forum in Riyadh yields four strategic announcements, including Aramco-Ma’aden JV, new gold finds, steel investments, and Baosteel plant.

Saudi Arabia and Nigeria agree on joint strategy to boost Saudi investments in mining, agriculture, banking, and fintech, strengthening economic ties and Vision 2030 goals.

SAMA licenses Nama United Financing to offer real-estate, SME, and consumer finance, bringing total licensed finance companies to 64 and advancing Vision 2030 goals.

Prince Saud bin Naif launches the 10th Al-Ahsa Processed Dates Festival, highlighting Saudi Arabia’s agricultural innovation and Vision 2030 economic diversification.

The Makkah Chamber of Commerce hosted the second general-assembly meeting of the Saudi-Moroccan Business Council, discussing trade and investment collaboration.

Saudi EXIM Bank commits over $1.5 billion to support global mineral flows, signing a $15 million credit line with Pakistan’s Habib Metropolitan Bank at the Future Minerals Forum.

Saudi Minister of Economy and Planning Faisal F. Alibrahim met with Slovenian Deputy Prime Minister Klemen Boštjančič to discuss enhancing economic and investment relations.

The Saudi-Thai Economic and Trade Committee held its first meeting in Bangkok on January 16, 2025, aiming to boost trade, investment, and economic cooperation.

Saudi Arabia signs trilateral agreement with Deutsche Messe and Riyadh Exhibitions Company to host Industrial Transformation Hannover Messe 2025 in December.

The fourth Future Minerals Forum in Riyadh concluded with 126 agreements worth SAR107 billion, advancing Saudi Arabia’s mining sector and Vision 2030 goals.

The Royal Commission for Jubail and Yanbu marks 50 years at WEF 2025 in Davos, showcasing Saudi industrial cities and Vision 2030 investment opportunities.

GASTAT’s Q4 2024 Real Estate Price Index shows a 3.6% annual rise, with commercial property up 5.0%, residential up 3.1%, and agricultural up 2.8% in Saudi Arabia.

SME Bank announces financing programs to empower small and medium enterprises, driving economic growth and sustainability in line with Saudi Vision 2030.

The Saudi-Portuguese Business Council’s successful visit to Portugal enhances economic cooperation, with over 260 Portuguese companies ready to enter the Saudi market.

Saudi Ministry of Commerce reports 60% increase in commercial registrations in 2024, with 521,969 new registrations and total active registrations reaching 1.6 million.

Saudi Arabia participates in WEF Annual Meeting 2025 in Davos as a top-20 economy, highlighting Vision 2030 investment opportunities and global engagement.

The first Al-Kharj Festival of Saudi Dates and Coffee sees sales exceed SAR10 million, with high turnout for dates and coffee ahead of Ramadan.

Saudi Arabia produces over 3 billion tons of dates annually, with 37 million palm trees and exports reaching 1.5 billion tons in 2024, says NCPD.

Saudi Minister of Economy and Planning Faisal Alibrahim met HD Hyundai CEO Chung Ki-Sun at WEF 2025 to discuss industrial innovation, maritime sustainability, and Vision 2030 opportunities.

Saudi Ministry of Commerce served over 7 million customers in 2024 through digital platforms, call centers, and collaborative branches with the Saudi Business Center.

Saudi bank credit reached a record SAR2.93 trillion by November 2024, growing 13.3% annually and adding over SAR345 billion, per the Saudi Central Bank.

Saudi Minister of Economy and Planning Faisal Alibrahim met with Professor Lars-Hendrik Röller, Chair of the Berlin Global Dialogue, at the 2025 World Economic Forum to discuss multilateral cooperation and global economic development.

Saudi EXIM signs $15 million credit line with Bank Alfalah to boost Saudi non-oil exports in Pakistan, advancing Vision 2030 trade diversification goals.

Kuwait Oil Company announces a significant offshore hydrocarbon discovery at Al-Jlaiaa field, estimated to hold 800 million barrels of oil and 600 billion cubic feet of gas.

Saudi Minister of Economy and Planning Faisal Alibrahim met HSBC Chairman Mark Tucker at WEF 2025 to discuss global finance and investment in Saudi Arabia.

Kingdom Holding Company resumes construction of Jeddah Tower, set to exceed 1,000 meters and become the world’s tallest building, aligning with Saudi Vision 2030.

Saudi Arabia’s Ministry of Industry and Mineral Resources and Ministry of Investment qualify six companies for the first wave of the Exploration Enablement Program, boosting mining investment.

Abdulaziz Al-Atharbani from Aseer showcases premium Saudi coffee at the inaugural Al-Kharj Festival, highlighting the Kingdom’s agricultural heritage and Vision 2030 goals.

Japan’s Nikkei 225 rose 0.32% to 39,027.98 points as investors anticipated a possible postponement of US tariffs, while the TOPIX closed flat at 2,713.5.

Saudi Arabia’s Real Estate Registry surveys 22,000 sq km, advancing a national map of over 8.2 million properties to boost transparency and investment.

Saudi Arabia’s Ministry of Commerce reports a 20% rise in arts and entertainment commercial registrations in 2024, supporting Vision 2030 economic diversification goals.

Saudi Economy Minister Faisal Alibrahim met Portugal’s Pedro Reis at Davos 2025 to boost economic ties, review Joint Committee work, and discuss global trends.

The National Debt Management Center closes January 2025 sukuk issuance at SAR 3.724 billion, supporting Saudi Arabia’s Vision 2030 and economic diversification.

Saudi Minister of Economy and Planning Faisal Alibrahim met State Street CEO Ronald O’Hanley at WEF 2025 to discuss global markets and Vision 2030 investment opportunities.

Saudi Arabia’s Capital Market Authority invites public feedback on proposed amendments to brokerage firm licensing, covering capital requirements and legal form. Consultation ends August 21, 2025.

Saudi Minister Faisal Alibrahim met BBVA leaders in Davos to discuss collaboration under Vision 2030 and financing services, reinforcing Saudi Arabia’s global economic engagement.

Saudi Arabia achieved a record 178 VC deals in 2024, capturing 31% of MENA’s total and maintaining first rank in funding for the second year, per MAGNiTT and SVC.

The first Al-Kharj Festival of Saudi Dates and Coffee concluded with over 700,000 visitors and SAR10 million in sales, showcasing Saudi agricultural heritage and Vision 2030 progress.

Saudi Arabia’s Ministry of Commerce reports 19% growth in information and communications commercial registrations in 2024, advancing Vision 2030 digital economy goals.

Madinah date production exceeded 343,000 tons in 2024, a 31% rise over 2023, boosting Saudi food security and Vision 2030 agricultural goals.

Saudi Arabia’s GACA highlighted strategic aviation investments and Vision 2030 innovation at the World Economic Forum 2025 in Davos, showcasing global leadership.

Saudi Arabia’s trade in services reached SAR 540 billion in 2023, growing 7% annually, Minister of Commerce Dr. Majid Al-Kassabi announced at the World Economic Forum in Davos.

GCC Secretary-General Jasem AlBudaiwi met South Korea’s trade minister at Davos to advance a free-trade agreement and strategic cooperation across vital sectors.

Saudi Minister of Economy and Planning Faisal Alibrahim met Alibaba Group President J. Michael Evans at Davos to discuss digital transformation and e-commerce cooperation.

Saudi EXIM Bank named Best Export Financing Solutions Provider and Best Export Credit Insurance Provider at the 2024 International Finance Awards in Dubai, boosting Vision 2030 non-oil export goals.

Saudi Arabia’s Global Labor Market Conference opens with 31 MoUs and agreements signed, boosting training and job opportunities in line with Vision 2030.

Saudi Arabia’s real GDP grew 4.4% in Q4 2024, the fastest in two years, with non-oil activities up 4.6%, according to GASTAT flash estimates released in Riyadh.

Saudi Reef’s pavilion at IPM Essen 2025 in Germany attracted visitors with traditional Saudi coffee, honey, and aromatic plants, showcasing rural development success.

Second edition of the Saudi National Products Expo opens in Kuwait, showcasing Saudi goods across industry, food, health, technology, and commerce to strengthen bilateral trade and Vision 2030 goals.

Saudi Ministry of Industry and Mineral Resources participates in the second Saudi National Products Expo in Kuwait City, promoting exports and Vision 2030 goals.

The fourth annual Real Estate Future Forum in Riyadh concluded with participation from 120 countries, 500 speakers, and over 400 million digital views, highlighting Saudi Arabia’s leadership in sustainable urban development.

The FSB Regional Consultative Group for MENA met in Sharm El-Sheikh under Saudi and Egyptian co-chairmanship, reviewing the 2025 work program and financial stability outlook.

Saudi Arabia’s non-oil commodity exports to GCC states reached SAR9.469 billion in November 2024, up 43% annually, per GASTAT data reported by the Saudi Press Agency.

Saudi National Products Expo in Kuwait signs 14 agreements worth over SAR200 million on day two, boosting Vision 2030 trade goals and Saudi-Kuwaiti economic ties.

Saudi Ports Authority (Mawani) wins Logistics Hub of the Year at ShipTek 2025, recognizing SAR10bn+ logistics investments and 14.45% cargo growth in 2024.

New Murabba, a PIF company, presented its vision for future urban living at the Real Estate Future Forum in Riyadh, outlining plans for 18 communities and 100,000 homes.

Second annual Saudi National Products Exhibition in Kuwait hosts panels and workshops on export industry challenges, opportunities, and Vision 2030 alignment.

Saudi Arabia’s coffee sector has grown from 60,736 trees in 2013 to over 400,000 trees producing 1,000+ tons annually. The International Saudi Coffee Exhibition 2025 in Jazan celebrates this Vision 2030 success story.

Fitch Ratings affirms Saudi Arabia’s credit rating at ‘A+’ with a Stable Outlook, citing strong fiscal buffers, high Sovereign Net Foreign Assets, and Vision 2030 reforms.

Saudi Coffee Company awards 12 winners of the second Sip of Excellence Competition, distributing over SAR200,000 to farmers from Jazan, Al-Baha, and beyond.