Category: Economy

ICIEC’s supported highway project in Senegal wins two IFN Awards, highlighting Saudi Arabia’s role in promoting Islamic finance and sustainable development in Africa.

Saudi Arabia and Jordan strengthen land transport ties through a Joint Committee meeting aimed at streamlining cross-border procedures and boosting trade.

The Saudi Aerospace Connect Forum concluded with nine strategic MoUs and key announcements, strengthening Saudi Arabia’s role in the global aviation sector under Vision 2030.

Minister of Finance Mohammed Aljadaan led Saudi Arabia’s delegation at the G20 FMCBG meeting in Cape Town, discussing global economic issues and aligning with Vision 2030.

Saudi EXIM signs reinsurance agreements with Allianz Trade, Bpifrance, and AIG to enhance export confidence and mitigate risks, aligning with Vision 2030 goals.

Saudi Arabia’s NDMC successfully completes a EUR2.25 billion bond issuance, including its first green tranche, underscoring commitment to sustainability and Vision 2030.

The Makkah Halal Forum 2025 focused on innovation, technology, and blockchain to enhance halal product tracking, fostering global collaboration and trade in the halal industry.

The Makkah Halal Forum 2025 focused on advancing the halal industry through innovation, education, and global collaboration, aligning with Saudi Arabia’s Vision 2030 goals.

Madinah’s central dates market sees increased activity as Ramadan approaches, driven by high demand for Ajwa, Ruthana, Sukari, and Khalas dates. Learn how this aligns with Saudi Arabia’s Vision 2030.

Saudi Reef boosts fruit production to 367,000 tons, supporting rural growth and advancing Saudi Vision 2030’s food security and sustainability goals.

CIBAFI Secretary General meets SBP Deputy Governor to discuss Islamic finance cooperation, aligning with Saudi Arabia’s Vision 2030 goals.

Saudi Arabia’s ZATCA calls for excise tax returns for May and June 2026 by July 31, with penalties for late submissions. Learn how to comply and avoid fines.

The ITFC, part of Saudi Arabia’s IsDB Group, has signed a $100 million Shariah-compliant trade finance agreement with Uzbekistan’s Hamkorbank to support SMEs and green initiatives.

SAMA licenses Malaa Company for Information Technology to provide open banking services, enhancing Saudi Arabia’s financial ecosystem and supporting Vision 2030 goals.

The NDMC closed the July 2026 issuance under Saudi Arabia’s SAR-denominated Sukuk Program, allocating SAR5.349 billion in five tranches, supporting Vision 2030 goals.

Saudi Arabia and the US reviewed 31 initiatives to deepen economic ties through the TIFA Council, aligning with Saudi Vision 2030 goals for trade and innovation.

The Ministry of Commerce of Saudi Arabia has announced the 2026 Sales Season, running from August 1 to October 31, 2026, offering businesses and consumers new opportunities for growth and savings.

ZATCA calls on businesses in Saudi Arabia to submit VAT returns for June and Q2 2026 by July 31, 2026, emphasizing timely compliance to avoid fines.

The Talh honey harvest season in Tabuk, Saudi Arabia, has commenced with production exceeding 35 tons, supported by sustainable agricultural initiatives under Vision 2030.

The NDMC has successfully completed an early redemption of sukuk worth SAR17.1 billion and issued new sukuk valued at SAR17.2 billion, strengthening Saudi Arabia’s domestic debt market.

The Saudi-U.S. Business Council hosted an event in New York City to explore economic and investment partnership opportunities arising from the hosting of the 2026 and 2034 FIFA World Cups.

The International Dates Council will hold a virtual meeting on July 21, 2026, to discuss revisions to the global dates standard DDP-08, aligning with Saudi Arabia’s Vision 2030 goals.

GASTAT reports an 11.4% increase in Saudi Arabia’s operating revenues index for short-term businesses in May 2026, driven by growth in mining, manufacturing, and financial sectors.

Jeddah Islamic Port introduces a 60-day logistics incentive package to enhance supply chain efficiency and strengthen Saudi Arabia’s global trade competitiveness.

Al-Kharj Governorate produces 90,400 tons of dates annually, valued at SAR723 million, boosting Saudi Arabia’s agricultural sector and Vision 2030 goals.

Saudi Arabia’s Voluntary Carbon Market Company advances climate action and economic diversification, trading over 15M tons in credits since 2022. Learn how it supports Vision 2030.

Saudi Energy Efficiency Center extends submission deadline for Energy Efficiency Award to August 13, 2026, encouraging sustainable practices aligned with Vision 2030.

GACA participates in Farnborough International Airshow 2026 to enhance global aviation partnerships and showcase Saudi Arabia’s Vision 2030 advancements.

The AMAD Fintech Hackathon 2026 set a Guinness World Record as the largest fintech hackathon, attracting over 6,000 participants and advancing Saudi Arabia’s Vision 2030 goals.

Tuwaiq Academy and Alinma Bank successfully concluded the second edition of the AMAD Hackathon, Saudi Arabia’s largest fintech event, fostering innovation and national talent.

The U.S. Chamber of Commerce released a publication showcasing Saudi Vision 2030 achievements and the contributions of over 50 U.S. companies to its implementation.

Saudi Arabia and Greece convened a round table meeting in Riyadh to enhance trade and investment partnerships, focusing on the construction sector and aligning with Vision 2030 goals.

Al-Ahsa’s summer okra crop is in high demand due to its superior quality, supporting local farmers and aligning with Saudi Arabia’s Vision 2030 agricultural goals.

Saudi Arabia’s Minister of Economy and Planning, Faisal Alibrahim, participated in a round table meeting in Switzerland to strengthen trade and investment ties, aligning with Vision 2030.

Saudi Vice Minister Eng. Khalid bin Saleh Al-Mudaifer engages with global mining leaders at the BMO Conference, highlighting Saudi Arabia’s Vision 2030 goals for the mining sector.

Saudi drivers earn over SAR2 billion annually from ride-hailing apps, showcasing the sector’s rapid growth and alignment with Vision 2030’s economic diversification goals.

The Makkah Halal Forum 2025 brings together global halal brands under the theme ‘Sustainable Development Through Halal,’ fostering innovation and partnerships in Saudi Arabia.

The Saudi Ports Authority (Mawani) introduces the EXS6 shipping service, enhancing maritime connectivity between Saudi Arabia and Syria as part of Vision 2030.

Saudi Arabia’s Sustainable Building Program (Mostadam) achieves GRESB accreditation, reinforcing its commitment to sustainability and Vision 2030 goals.

Saudi Arabia’s Ministry of Industry and Mineral Resources urges factories to update their industrial register data via the Senaei platform by April 13, supporting Vision 2030.

SAMA has issued Close-out Netting and Related Collateral Arrangements Regulations to enhance risk management and financial stability in Saudi Arabia, aligning with Vision 2030.

Saudi Arabia’s non-oil exports grew by 18.1% in December 2024, highlighting the Kingdom’s economic diversification under Vision 2030.

Saudi Arabia’s Minister of Economy and Planning meets Swiss Federal Councillor to enhance cooperation in innovation, entrepreneurship, and SME support, aligning with Vision 2030.

Saudi Arabia has launched a 1.2 million square meter aviation industries cluster in Jeddah to enhance supply chains and localize advanced technologies, aligning with Vision 2030.

Saudi Exports and JEDCO signed an MoU to enhance bilateral ties and share expertise on non-oil exports, aligning with Saudi Arabia’s Vision 2030 goals.

Saudi Arabia’s Minister of Economy and Planning met with Switzerland’s State Secretary for Economic Affairs to discuss global economic developments and mutual interests.

The Saudi-Chinese Entrepreneurship Workshop in Riyadh brought together 200 companies to strengthen economic ties and explore cooperation opportunities, aligning with Saudi Arabia’s Vision 2030.

Saudi Arabia’s CMA invites stakeholders to provide feedback on its draft regulatory framework for clearing agreements, enhancing financial market transparency and efficiency.

The Saudi-Qatari Business Forum in Riyadh highlights investment opportunities and economic collaboration between Saudi Arabia and Qatar, aligning with Vision 2030 goals.

The Islamic Development Bank (IsDB) and FAO held a high-level meeting in Rome to accelerate agrifood systems transformation, aligning with Saudi Arabia’s Vision 2030.

Saudi Arabia’s Transport Minister Saleh Al-Jasser witnessed the signing of an agreement between DHL eCommerce and AJEX Logistics Services, boosting the Kingdom’s logistics sector.

Saudi Arabia issues new industrial licenses for aircraft maintenance and repair, boosting the aviation sector and aligning with Vision 2030 goals for economic diversification.

Thailand’s Ambassador Darm Boontham visited Qassim Chamber to explore investment opportunities, aligning with Saudi Arabia’s Vision 2030 goals for economic diversification.

The Saudi-Jordanian Joint Business Forum in Amman aims to enhance economic cooperation and trade ties, aligning with Saudi Arabia’s Vision 2030 and Jordan’s Economic Modernization Vision 2033.

Makkah hosts the second Makkah Halal Forum, reinforcing Saudi Arabia’s global leadership in the halal industry under Vision 2030, fostering innovation and international trade.

The 61st meeting of Directors General of Customs for the North of Africa, Near, and Middle East Region was held in Cairo, focusing on efficiency, security, and prosperity.

Saudi Arabia’s Housing Minister Majed Al-Hogail oversaw the $5 billion sukuk listing on the London Stock Exchange, advancing Vision 2030’s housing goals.

FII PRIORITY Miami 2025 summit brought global leaders to address economic challenges, emphasizing Saudi Arabia’s role in fostering resilience, sustainability, and innovation.

Arab Parliament Speaker Al-Asoumi and World Bank President Banga meet in Washington, D.C., to discuss development needs, human capital, and humanitarian aid for Gaza.

The Saudi Real Estate Refinance Company (SRC) priced its first $2 billion international Sukuk, listed on the London Stock Exchange, supporting Saudi Arabia’s Vision 2030 housing goals.

Saudi e-commerce sales via Mada cards reached SAR 44.42 billion in Q1 2024, a record 22% annual growth, driven by Vision 2030 digital transformation.

Saudi Minister Bandar Alkhorayef met Brazilian VP Geraldo Alckmin to enhance industrial and mining cooperation, boosting Vision 2030 goals and trade ties.

GCC Secretary General Jasem Albudaiwi highlights progress in economic and developmental integration, enhancing the region’s global economic status.

Saudi Arabia’s air transport sector achieved a historic milestone in 2024, with 128 million passengers, marking a 15% increase. Learn how this aligns with Vision 2030.

U.S. President Donald J. Trump addressed the FII PRIORITY Summit in Miami, emphasizing the role of purpose-driven investments in shaping the global economy.

Saudi Exports will participate in the Saudi-Jordanian Business Forum in Amman, aiming to enhance trade relations and export opportunities between Saudi Arabia and Jordan.

Saudi Arabia’s Finance Minister Mohammed Aljadaan sponsors Dhaman’s golden jubilee, celebrating 50 years of promoting Arab investment and trade. Learn how this aligns with Vision 2030.

Saudi Arabia will host the 2nd Multilateral Industrial Policy Forum (MIPF) in October 2024, marking the first time the UNIDO event will be held outside Vienna. The forum focuses on sustainable industrial policies.

Saudi Arabia has successfully implemented over 4,000 expenditure efficiency initiatives across various government entities, enhancing public services and supporting Vision 2030 goals.

The Zakat, Tax and Customs Authority (ZATCA) has called on commercial establishments subject to value-added tax (VAT) to submit their VAT statements for January 2025 by February 28, 2025. This applies to businesses with annual revenues exceeding SAR40 million on goods and services. ZATCA emphasizes the importance of timely submissions to avoid penalties ranging from […]

The second ARABCIIA conference in AlUla brings together 13 Arab countries to discuss internal auditing challenges and innovations, aligning with Saudi Vision 2030.

Saudi Arabia’s General Authority for Competition signs MoU with Iraq’s Competition and Antitrust Council to promote fair competition and prevent monopolistic practices.

King Salman approves the Saudi riyal symbol, a historic move reinforcing Saudi Arabia’s financial identity and aligning with Vision 2030 goals.

Saudi Finance Minister Mohammed Aljadaan and IMF Managing Director Kristalina Georgieva conclude the inaugural AlUla Conference for Emerging Market Economies, highlighting resilience, digitalization, and international cooperation.

The Qatar Export Office opened in Riyadh on February 20, 2025, enhancing Saudi-Qatari economic cooperation and aligning with Saudi Arabia’s Vision 2030 goals.

Saudi Arabia’s General Authority of Civil Aviation (GACA) launches Ajwaa digital platform and new corporate identity, aligning with Vision 2030’s economic diversification goals.

The Saudi Power Procurement Company has signed a Power Purchase Agreement for the expansion of the Qurayyah Independent Power Plant, adding 3,010 MW capacity and carbon capture units.

Saudi Electricity Company and ACWA Power sign Power Purchase Agreement for Qurayyah IPP Expansion Project, advancing Saudi Arabia’s sustainable energy goals under Vision 2030.

Saudi-Kazakh Business Forum in Almaty results in trade agreements across mining, renewable energy, and agriculture, boosting bilateral ties and Vision 2030 goals.

ITFC, a member of the IsDB Group, partners with SCOPI to boost sustainable coffee farming in Indonesia, aligning with Vision 2030 goals.

A delegation from the Saudi Development and Reconstruction Program for Yemen (SDRPY) met virtually with the World Bank’s Saudi office to enhance developmental cooperation and support reconstruction efforts in Yemen.

Saudi Aramco showcased investment opportunities in Al Ahsa at the 2025 forum, highlighting the Jafurah Field and Vision 2030’s economic diversification goals.

GASTAT reports 4.4% growth in Saudi non-oil activities for Q2 2024, as Vision 2030 diversification progresses despite a slight GDP dip.

Saudi Minister Bandar Alkhorayef held talks with Chilean ministers on boosting industrial and mining collaboration, focusing on lithium and phosphate fertilizers.

Saudi EXIM Bank and InvestChile sign MoU to strengthen economic ties, boost non-oil Saudi exports, and promote investments in Chile, supporting Vision 2030 diversification goals.

The Saudi Business Center concluded its successful participation in the Saudi-Korean Business Forum in Seoul, strengthening economic ties and showcasing Vision 2030’s business-friendly reforms.

Canadian Ambassador Jean-Philippe Linteau visited the Madinah Chamber of Commerce to enhance trade and investment cooperation between Canada and Saudi Arabia.

MODON signs nine contracts worth over SAR1 billion to develop industrial cities in Jeddah, Makkah, Dammam, Tabuk, and Hafar Al-Batin, supporting Vision 2030.

Aseer Municipality launches 7 investment opportunities through the Furas portal, covering commercial, sports, entertainment and industrial sectors to boost Vision 2030 goals.

Saudi Electricity Company reports 16.6% net profit rise to SAR5.2 billion in H1 2024, driven by higher regulated returns and growing electricity demand, with significant capital investments.

ITFC and ICESCO signed an MoU to enhance trade, education, and cultural preservation, aligning with Saudi Vision 2030 and global development goals.

The NDMC successfully closed the February 2025 SAR-denominated Sukuk issuance, allocating SAR3.071 billion to support Saudi Arabia’s economic diversification and Vision 2030 goals.

KAFD secures three LEED Platinum certifications, solidifying its status as the world’s largest LEED Platinum-certified destination and showcasing Saudi Arabia’s leadership in sustainable urban development.

The Aseer region is Saudi Arabia’s leader in honey production, beekeeping, and agricultural holdings, contributing significantly to Vision 2030 goals.

Saudi EXIM Bank and Brazil’s development bank signed an MoU to enhance economic cooperation, boost non-oil exports, and support Vision 2030 goals.

Reef Saudi expands support for small-scale livestock farmers, modernizing the sector, raising rural incomes and strengthening Saudi Arabia’s food security.

GCC Secretary General meets New Zealand’s minister to advance FTA, boosting investment and economic ties. Aligned with Vision 2030.

Diriyah hosts the Reef Valley exhibition on September 25-26, showcasing Saudi rural sectors, farmers, and Saudi Reef’s Vision 2030 countryside goals.

Monsha’at honors banks and companies for top SME funding and growth in 2023 at Biban24 Forum, supporting Saudi Vision 2030.

Saudi Arabia and UK deepen sports investment ties at London forum, aligning with Vision 2030 to grow market to SAR 84 billion by 2030.