Vision 2030

The Kingdom of Saudi Arabia is on track to fulfill its ambitious objective of reaching 130 gigawatts in renewable energy capacity by the year 2030, provided that it continues to fortify its green initiatives and secure their rigorous execution, as indicated by a recent analysis. A study by analytics firm GlobalData reveals that Saudi Arabia's renewable energy sector is picking...

In the heart of Saudi Arabia, a significant shift is underway within the mining sector, which is set to become an instrumental component of the country's economic diversification strategy as part of Vision 2030. The Kingdom's vast mineral resources, valued at approximately SAR 9.4 trillion ($2.5 trillion), are being eyed as an alternate revenue source to complement the traditional oil...

The Business Continuity Institute (BCI) has recently announced the establishment of a new chapter in Saudi Arabia, aimed at strengthening the business continuity and resilience sector in the region.Comprising a dedicated committee, the BCI Saudi Arabia Chapter includes the following individuals:Atiq Bajwa - LeaderMohamed Abuelqroush - Vice-LeaderDavid Bollaert - Committee MemberDarrshan Manukulasooriya - Committee MemberAsma Alsobhi - Committee MemberIbrahim Alhamdan...

The Kingdom of Saudi Arabia is taking bold strides towards sustainable solutions within the transport sector, with electric vehicles (EVs) taking center stage. This shift is a signal of impending transformation within the Middle East's approach to mobility. The crucial question is: are EVs on the brink of becoming an everyday reality?Last year, the unveiling of Saudi Arabia's inaugural automotive...

The landscape of transportation in the Middle East is on the brink of a revolution, with electric vehicles (EVs) at the forefront, particularly in Saudi Arabia. The Kingdom is actively engaging in the transition to more sustainable solutions, leading to speculation about when EVs will become commonplace in our everyday lives.With the introduction of Ceer, Saudi Arabia's first automotive brand...

The metaverse, characterized by virtual and augmented reality, is poised to dismantle traditional geographical limitations, ushering in an era of heightened collaboration and connectivity. Its influence will be substantial, reshaping everything from work and leisure to commerce and living.As a commercial entity, the metaverse will soon offer companies and consumers a novel platform for interaction. In the Middle East, it's...

The metaverse, an expansive virtual realm enriched by virtual and augmented reality, is poised to erase physical boundaries, paving the way for unparalleled collaboration and interconnectivity. This digital universe is expected to reshape various aspects of daily life, from work and leisure to shopping and travel.More than just a social space, the metaverse is predicted to evolve into a vital...

The metaverse, a virtual realm enhanced by augmented and virtual reality, is set to break down geographical constraints and elevate collaboration and connectivity to new heights. It is not only reshaping the way we work, live, and play but is also emerging as a commercial arena for businesses and consumers alike.Particularly in the Middle East, the metaverse holds the promise...

Saudi Arabia's economy has reached a new milestone with its non-oil sector revenues hitting an unprecedented $453 billion.The nation's economic diversification efforts have paid off, with the non-oil sector now accounting for half of the country's gross domestic product (GDP) in 2023, according to the Saudi ministry of economy and planning.Growth in exports, investments, and consumer spending have been the...

Experts in the economic sphere are signaling a bright future for Saudi Arabia's investment environment, driven by its robust equity and debt markets. Prominent individuals from the kingdom's sector of the investment bank J.P. Morgan, the financial news service Bloomberg, and Saudi tourism finance entity ASFAR have highlighted the transformative effects of the Vision 2030 plan for economic diversification. The...

Saudi Arabia has become a magnet for investors and partners looking to support startups and entrepreneurs, thanks to its robust economy, strategic location, and robust governmental encouragement.The nation boasts one of the most significant expenditures on technology in the Middle East and North Africa, amounting to roughly 2.5 times that of its closest regional competitor, with continued growth each year.Management...

With an estimated 1.5 billion students worldwide affected by school closures during the pandemic, educational institutions rapidly embraced smart technologies to maintain academic continuity. This shift toward digitalization promises enduring advantages that extend well beyond the rise of remote learning.The role of education is pivotal in achieving the objectives set out in Saudi Vision 2030. The Kingdom's economic revitalization, driven...

Saudi Arabia continues to forge ahead with the development of its groundbreaking Neom megacity, a project that embodies the nation's grand aspirations for a futuristic urban life. The construction in Tabuk, at the northern edge of the Red Sea, is moving forward with a significant amount of resources, reportedly moving 'millions of cubic meters of earth and water' weekly.The promotional...

Recent reports highlight that Saudi Arabia has tempered its high-reaching objectives for a state-of-the-art megacity dubbed 'The Line,' grappling with postponements and financial uncertainties that cloud the project's future.Saudi Arabia's Blueprint for the Future'The Line' constitutes a pivotal segment of the expansive 'Neom' initiative. This undertaking aligns with Saudi Arabia's Vision 2030, a strategic framework that aims to wean the...

The Kingdom of Saudi Arabia is witnessing a substantial rise in demand for online delivery services, as confirmed by recent statistics from the nation's commerce ministry.These new insights reveal an impressive 61 percent surge in registered e-delivery enterprises within the Kingdom, with figures climbing from 2,903 in the last quarter of 2023 to 4,699 in the first quarter of 2024.The...

Saudi Arabia's once grandiose plans for the Neom megacity have been significantly curtailed, with the projected population by 2030 now set at 300,000, a sharp decrease from the previously anticipated 1.5 million. The extensive urban development, touted as The Line, is now expected to see only a 2.4km stretch completed by the target year, calling into question the feasibility of...

The Saudi Authority for Industrial Cities and Technology Zones, commonly known as MODON, recently published its annual review for the year 2023, shining a light on the remarkable strides made in the realm of industrial development. The report aligns with the strategic objectives set forth in Saudi Vision 2030, demonstrating considerable achievements in investment attraction, infrastructure enhancement, and the promotion...

The non-oil sector in Saudi Arabia is showing signs of robust growth, marking a significant milestone in the Kingdom's strategic push towards economic diversification. Recent data reveals a positive trajectory, indicating a shift away from the traditional dependency on oil revenue.Strong demand has been a driving force behind the surge in Saudi Arabia's non-oil business activity for March, reaching a...

Canoo Inc., a trailblazer in the advanced mobility sector, has recently unveiled that its lineup of electric vehicles (EVs) will be trialed by Red Sea Global (RSG), the mastermind behind the eco-conscious tourism hubs, The Red Sea and AMAALA.The pilot program will incorporate Canoo's Lifestyle Vehicle (LV), Lifestyle Delivery Vehicle (LDV) 190, and the Bulldog pickup truck. These vehicles will...

The Saudi Data and Artificial Intelligence Authority (SDAIA) is at the forefront of delivering intelligent solutions and robust digital services, particularly aimed at enhancing the experience of those visiting the Two Holy Mosques during the Umrah season. This initiative is part of SDAIA's broader strategy to promote research in data and AI to improve service offerings at these religious sites,...

Amidst the global economic challenges, the business media sector has been closely monitoring the evolution of foreign direct investment (FDI) trends. The latest 2024 Kearney Foreign Direct Investment Confidence Index has brought forward a story of resilience and optimism in the investment domain, with a clear focus on markets poised for stability, innovation, and growth opportunities.The central figure in this...

In a significant move to expand its mineral sector, Saudi Arabia has launched the Mining Exploration Enablement Program, targeting international companies and explorers to join the initiative. The undertaking is set to enhance exploration, maximize the mining sector's value, and amplify surveying of untapped areas.The Kingdom's Ministry of Industry and Mineral Resources, alongside the Ministry of Investment, has opened registration...

King Abdullah University of Science and Technology (KAUST), renowned for its early embrace of artificial intelligence (AI), stands at the forefront of academic leadership in Saudi Arabia and the surrounding region. This preeminence is underpinned by its solid infrastructure, cutting-edge technologies shepherded by industry authorities, and strategic alliances with pivotal entities in both the public and private sectors.Aligning with the...

Saudi Arabia has revised its population forecasts for the ambitious Neom megacity project, aiming for a smaller number of residents by the year 2030.Originally, the plan was to have 1.5 million people take up residence in the project's advanced urban center known as 'The Line.' However, a report has indicated that this figure has been adjusted to less than 300,000...

Jeddah Islamic Port has proudly announced the arrival of the maiden vessel from Saudi container line, Folk Maritime, marking a significant milestone for the Kingdom's maritime sector. The port celebrated this key event with the crew of the ship, dubbed Sunset X, to honor the collaborative efforts of the Saudi Ports Authority (MAWANI) and Folk Maritime in escalating the Kingdom's...

Recent strategic maneuvers by the Public Investment Fund of Saudi Arabia, via its gaming arms Savvy Games Group and ESL FaceIt Group (EFG), have sparked a global dialogue about the kingdom's intentions and its potential sway over the esports landscape. Current trends in sports and leagues indicate a shift beyond geopolitical considerations. A prime example is the relocation of the...

In a significant development within the Saudi Arabian financial sector, stc pay has been officially sanctioned by the Saudi Central Bank (SAMA) to progress into its next evolutionary stage as STC Bank. An announcement from the company indicated that this move is currently in a beta phase, with access provided exclusively to a select group of customers, paving the way...

The asset management domain within Saudi Arabia has demonstrated a notable surge in activity revenues, reaching SR4.2 billion ($1.12 billion) in 2023, marking a significant 58.6 percent increase over the span of four years.Abdullah bin Ghannam, the deputy for listed companies and investment products at the Kingdom's Capital Market Authority (CMA), has shed light on the unprecedented expansion of this...

King Abdullah University of Science and Technology (KAUST) recently marked a significant stride in research and development (R&D) within Saudi Arabia by hosting the inaugural SABIC Day. The event stands as a testament to the fortified partnership between educational and industrial sectors, particularly targeting initiatives such as the circular economy, achieving carbon neutrality, and creating distinct solutions. Dr. Bob Maughon,...

The 'Saudi Vision 2030' has set an audacious goal of attracting 150 million visitors per year, and the burgeoning air transport sector in Saudi Arabia is currently one of the most talked-about developments in the industry. With innovative airlines and airports emerging, they are poised to redefine what excellence means in this space. One such example is flyadeal, a digital-first,...