Riyadh, July 6, 2024 — As the Hijri year 1445 AH drew to a close, the Kingdom of Saudi Arabia recorded unprecedented achievements across local, Arab, Islamic, and global levels, according to the Saudi Press Agency (SPA). Under the leadership of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, the Kingdom realized many of its strategic goals ahead of schedule, harnessing national resources for the benefit of citizens and residents.
The year was marked by a series of high-level summits, conferences, and diplomatic visits hosted on Saudi soil, alongside major economic and social initiatives that reinforced the Kingdom’s regional and international standing. The following report highlights the most notable events and achievements of the year 1445 AH, as documented by the Saudi Press Agency.
Context and Background
The year 1445 AH unfolded amid rapid transformation in Saudi Arabia, guided by Vision 2030, the national blueprint for economic diversification and social modernization. The Kingdom’s proactive foreign policy, combined with strategic investments and humanitarian initiatives, positioned it as a pivotal mediator and partner in regional stability and global cooperation. From deepening ties with international allies to launching pioneering domestic projects, Saudi Arabia demonstrated its commitment to inclusive growth and sustainable development.
The achievements of the year reflect the leadership’s focus on early realization of goals, ensuring that the benefits of progress are felt by all segments of society. This period also saw the Kingdom assume a greater role in addressing global challenges, from energy security to environmental sustainability and humanitarian relief.
Key Details
At the start of the year, in Muharram 1445 AH, the Gulf Cooperation Council (GCC) Consultative Meeting and GCC-Central Asia Summit convened in Jeddah, drawing leaders from across the region to strengthen cooperation. The Public Investment Fund (PIF) launched several companies, including Sawani for camel dairy, Al-Madinah Heritage Company for Ajwa dates, SRJ Sports Investments, and Kayanee for fitness and well-being, all aimed at unlocking new economic sectors. Saudi Aramco completed a $3.4 billion acquisition of a 10% stake in Rongsheng Petrochemical, while STC Group posted record semi-annual revenues of SAR 36.5 billion. The Ministry of Energy extended a voluntary oil production cut of one million barrels per day, supporting market stability.
Diplomatically, the Ministry of Foreign Affairs expressed the Kingdom’s condemnation of violations against Islamic sanctities and summoned the Danish Chargé d’Affaires in protest. Saudi Arabia also welcomed the UN’s completion of the FSO Safer tanker withdrawal and granted e-visas to citizens of eight new countries: Albania, Azerbaijan, Georgia, Kyrgyzstan, the Maldives, South Africa, Tajikistan, and Uzbekistan. In Safar, Crown Prince Mohammed bin Salman received Iranian Foreign Minister Hossein Amir-Abdollahian in Jeddah, signaling continued dialogue. The Kingdom joined the UN Convention on Contracts for the International Sale of Goods (CISG) and launched a master plan for logistics centers to establish itself as a global logistics hub. NEOM announced its global education, research, and innovation system, and the PIF, SABIC, and Al Rajhi Investment established a leading steel company. A Global Water Organization was announced, headquartered in Riyadh, to tackle water challenges worldwide.
Furthermore, Saudi Arabia and the United States signed a memorandum of understanding to develop green intercontinental transit corridors, and the Crown Prince signed a memorandum for an economic corridor connecting India, the Middle East, and Europe. The Kingdom agreed to host the 2024 World Environment Day, and KSrelief provided emergency aid to flood victims in Libya. In Rabi’ Al-Awwal, S&P Global Ratings affirmed Saudi Arabia’s sovereign credit ratings at ‘A/A-1’ with a stable outlook, reflecting confidence in the Kingdom’s economic resilience. The month also saw a FOX News interview with the Crown Prince in NEOM, highlighting the Kingdom’s modernization drive.
Implications and Impact
These developments underscore Saudi Arabia’s growing influence as a diplomatic bridge-builder and economic powerhouse. The hosting of major summits and the signing of international agreements enhance the Kingdom’s role in fostering regional stability and global partnerships. The establishment of new PIF companies and the expansion of non-oil sectors contribute to job creation and economic diversification, aligning with Vision 2030 goals. The humanitarian initiatives, such as aid to Libya and support for Sudan, demonstrate Saudi Arabia’s commitment to alleviating human suffering and promoting solidarity.
On the global stage, Saudi Arabia’s proactive stance on environmental issues, water security, and sustainable transit corridors positions it as a responsible leader in addressing shared challenges. The extension of oil production cuts, in coordination with OPEC+, reflects the Kingdom’s role in stabilizing energy markets, while the e-visa expansion boosts tourism and cultural exchange. The diplomatic engagement with Iran and the peace efforts in Yemen signal a pragmatic approach to regional conflicts, contributing to long-term stability.
Vision 2030 Alignment
The achievements of 1445 AH are a testament to the Kingdom’s unwavering commitment to Vision 2030, which seeks to transform Saudi Arabia into a diversified, innovative, and globally connected economy. Each milestone—from logistics and steel to education and water—advances the vision’s core pillars of a vibrant society, a thriving economy, and an ambitious nation. As Saudi Arabia continues to realize its goals ahead of schedule, it reinforces its position as a leader in the region and a trusted partner on the world stage, ensuring a prosperous future for generations to come.
20 Questions
Q1. What was the main focus of Saudi Arabia’s achievements in 1445 AH?
A1. The year focused on unprecedented progress across local, Arab, Islamic, and global levels, with many goals achieved ahead of schedule under the leadership of King Salman and Crown Prince Mohammed bin Salman, benefiting citizens and residents.
Q2. Which summit was hosted in Jeddah at the start of 1445 AH?
A2. The 18th GCC Consultative Meeting and the GCC-Central Asia Summit were held in Jeddah, bringing together leaders from the Gulf and Central Asia to enhance cooperation and regional ties.
Q3. What companies did the Public Investment Fund establish in Muharram 1445 AH?
A3. The PIF established Sawani for camel dairy, Al-Madinah Heritage Company for Ajwa dates, SRJ Sports Investments, and Kayanee for fitness and well-being, aiming to diversify the economy and unlock new sectors.
Q4. How did Saudi Aramco expand its international portfolio in 1445 AH?
A4. Saudi Aramco completed a $3.4 billion acquisition of a 10% stake in Rongsheng Petrochemical, strengthening its downstream integration and global refining capacity.
Q5. What record did STC Group achieve in 1445 AH?
A5. STC Group achieved the highest semi-annual revenues in its history, reaching SAR 36.5 billion, reflecting its robust performance and digital transformation leadership in the region.
Q6. What action did the Ministry of Energy take regarding oil production?
A6. The Ministry of Energy extended a voluntary cut of one million barrels per day for another month, including September, to support market stability in coordination with OPEC+.
Q7. Which new countries were granted visitor e-visas by Saudi Arabia?
A7. Saudi Arabia granted visitor e-visas to travelers from Albania, Azerbaijan, Georgia, Kyrgyzstan, the Maldives, South Africa, Tajikistan, and Uzbekistan, expanding tourism and cultural exchange.
Q8. What diplomatic engagement occurred between Saudi Arabia and Iran in Safar 1445 AH?
A8. Crown Prince Mohammed bin Salman received Iranian Foreign Minister Hossein Amir-Abdollahian in Jeddah, signaling continued dialogue and efforts to improve bilateral relations.
Q9. What international convention did Saudi Arabia join in Safar 1445 AH?
A9. The Kingdom officially joined the United Nations Convention on Contracts for the International Sale of Goods (CISG), becoming the 96th country to join, enhancing its global trade framework.
Q10. What major logistics initiative did Crown Prince Mohammed bin Salman launch?
A10. He launched the master plan for logistics centers, aimed at developing infrastructure, enhancing Saudi Arabia’s position as a leading investment destination, and establishing it as a global logistics hub.
Q11. What did NEOM announce regarding education in Safar 1445 AH?
A11. NEOM announced its global system for education, research, and innovation, including NEOM University, an Education, Research, and Innovation Foundation, a Talent Academy, and a comprehensive early childhood to 12th-grade program.
Q12. Which companies partnered to establish a steel industry leader in Saudi Arabia?
A12. The Public Investment Fund, SABIC, and Al Rajhi Investment announced the establishment of a leading company in the steel industries sector, boosting industrial diversification and local content.
Q13. What is the purpose of the Global Water Organization announced by Saudi Arabia?
A13. The Global Water Organization, headquartered in Riyadh, aims to develop and integrate efforts of countries and organizations to address water challenges comprehensively, promoting global water security.
Q14. What memorandum did Saudi Arabia sign with the United States regarding transit corridors?
A14. Saudi Arabia and the United States signed a memorandum of understanding to develop a protocol for green intercontinental transit corridors, enhancing sustainable connectivity and trade.
Q15. What economic corridor project did Saudi Arabia sign with world leaders?
A15. A memorandum was signed for an economic corridor project connecting India with the Middle East and Europe, aimed at boosting trade, connectivity, and regional integration.
Q16. What environmental event will Saudi Arabia host in 2024?
A16. The United Nations Environment Program announced that Saudi Arabia will host the 2024 World Environment Day, recognizing the Kingdom’s environmental efforts and commitment to sustainability.
Q17. How did Saudi Arabia support Libya in 1445 AH?
A17. King Salman and Crown Prince Mohammed bin Salman directed KSrelief to provide emergency food and shelter assistance to people affected by floods in Libya, demonstrating humanitarian solidarity.
Q18. What credit rating did S&P Global affirm for Saudi Arabia?
A18. S&P Global Ratings affirmed Saudi Arabia’s foreign and local currency sovereign credit ratings at ‘A/A-1’ with a stable outlook, reflecting confidence in the Kingdom’s economic resilience.
Q19. What did Crown Prince Mohammed bin Salman discuss in his FOX News interview?
A19. In an interview with Bret Baier in NEOM, the Crown Prince discussed Saudi Arabia’s modernization, Vision 2030 progress, and the Kingdom’s regional and global role, highlighting its transformation.
Q20. How do these achievements align with Vision 2030?</h3
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