Vision 2030

Riyadh, the thriving capital of Saudi Arabia, is not only the country's largest metropolis but also a pivotal cultural and financial hub. Encompassing an area exceeding 1,500 square kilometers, Riyadh is a city that boasts year-round major sporting events, including high-profile boxing matches and Formula 1 races, positioning it as a city of international repute.The city's skyline, punctuated by towering...

The Development Authority of the Madinah Region extends an invitation to all visitors and pilgrims who have successfully completed their Hajj journey to immerse themselves in the historical grandeur and attractions that Madinah has to offer, along with a range of delightful activities. Under the patronage of Madinah Governor Prince Salman bin Sultan bin Abdulaziz, the official tourism platform known...

Saudi Arabia's Ascension in Global Debt Issuance signals a pivotal shift in economic strategies, as the kingdom's market size is notably smaller compared to China's, being approximately just 6.25% of the Asian giant's economy. The kingdom is ambitiously redefining its business landscape with the aim of becoming a formidable global commercial hub by the year 2030.Recent figures have highlighted a...

In a significant shift within the emerging markets, Saudi Arabia has overtaken China as the leading issuer of international debt, a position held by Beijing for more than a decade. This change underscores a dynamic shift in global borrowing practices and points towards the kingdom's aggressive funding strategy for its ambitious Vision 2030 plan.Recent figures show that Saudi Arabia has...

In an effort to reduce its dependency on petroleum, the Kingdom of Saudi Arabia (KSA) is now setting its sights on the metals sector, which is anticipated to elevate domestic nickel usage and underwrite global mining ventures. This move aligns with substantial investments in industries that are intensive users of nickel.Recognizing mining as a critical sector for its future, Saudi...

Thierry Rayer recently unveiled the 'Universæ Analysis' methodology, a novel approach for dissecting and interpreting artworks and historical landmarks. This technique strives to uncover the concealed layers and map out the historical and cultural threads that intertwine globally. We apply Universæ Analysis to masterpieces from Da Vinci, Brancusi, Kandinsky, and key cultural landmarks. Through a blend of biology, geometry, mathematics,...

RIYADH: Making strides in its economic diversification initiatives, Saudi Arabia has climbed to the 16th position in the World Competitiveness Index 2024, marking an improvement from its previous ranking. A report by a prominent Switzerland-based management institute indicates the Kingdom's jump from 24th in 2022 and 32nd in 2021, crediting the rise to its Vision 2030 agenda, which has bolstered...

Spanning over 14 centuries, Saudi Arabia's pivotal role in Islamic pilgrimage has drawn countless faithful to its revered cities of Makkah and Medina. The yearly Hajj and the continuous Umrah pilgrimages are not just spiritual journeys but are also instrumental to the nation's economic vitality.The influx of pilgrims translates to an impressive financial boost, with religious tourism injecting approximately $12...

Employees at Saudi state-supported firms have experienced unexpected budget reductions in recent times, with the onset of these austerity measures traceable to the first quarter of 2024. The impact has been widespread, touching various industries including the media and the nation's ambitious giga projects. This led to a significant slash in departmental budgets, job layoffs, and a concerted effort to...

The Kingdom of Saudi Arabia is poised to be at the forefront of scientific inquiry as it prepares to host the Asian Physics Olympiad in 2025, a major academic event attracting the brightest minds from across Asia. The Olympiad, which will welcome participants from 27 nations, is set to underscore the Kingdom's leading role in the realms of science and...

The Saudi Minister of State for Foreign Affairs, who also serves as a Member of the Cabinet and the Envoy for Climate Affairs, Adel Al-Jubeir, recently took part in a stimulating dialogue at the FII PRIORITY Rio de Janeiro Summit. This summit is a hallmark event organized by the Future Investment Initiative Institute, focusing on investment and international cooperation. While...

The National Competitiveness Center's Chairman and Saudi Minister of Commerce, Dr. Majid bin Abdullah Al-Qasabi, was present at the 60th-anniversary festivities of the UN Trade and Development Organization (UNCTAD) held in Geneva. This landmark event, under the theme 'Charting a New Development Course in a Changing World', saw the attendance of UN Secretary-General António Guterres along with distinguished government officials...

Renowned Swiss banking institution Edmond de Rothschild Group is poised to broaden its reach within Saudi Arabia by inaugurating a new office and establishing a funding platform dedicated to infrastructure projects, as announced by the bank.The initiative is anticipated to contribute to Saudi Arabia's ambitious Vision 2030 blueprint, which is designed to diversify the nation's economy beyond its traditional reliance...

In a warm appeal to global investors, the Tourism Minister of Saudi Arabia, Ahmed Al-Khateeb, has made a compelling case for investment in the Kingdom's rapidly expanding tourism industry. Addressing attendees at the Future Investment Initiative Institute's Priority Rio de Janeiro Summit, Al-Khateeb shed light on the significant growth prospects powered by the nation's strategic economic reform program, Vision 2030.While...

Anticipated to advance at a compound annual growth rate (CAGR) of 7.5 percent from 2023 to 2028, Saudi Arabia's hospitality sector is gearing up for significant growth. This trajectory aligns with the average for the Gulf Cooperation Council (GCC) and is largely attributed to government initiatives as part of the Vision 2030 strategy, as indicated in recent analysis. An investment...

The Diriyah Company has established an agreement with the Royal Institution of Chartered Surveyors (RICS) to advance the training and nurturing of Saudi professionals. The memorandum, which outlines a mutual understanding, is set to facilitate the sharing of knowledge and create a robust framework for learning, emphasizing RICS's esteemed standards in the realm of the built environment.Jerry Inzerillo, the Chief...

LTIMindtree, a prominent global player in technology consulting and digital solutions, has proudly announced the launch of its new regional headquarters in Riyadh, the capital city of Saudi Arabia. This key development is part of the company's strategic expansion in the Kingdom of Saudi Arabia (KSA) and the Middle East at large.The establishment of the Riyadh headquarters is in strategic...

LTIMindtree, a renowned entity in the technology consulting and digital solutions realm, has proudly announced the launch of its new regional headquarters in the vibrant capital of Saudi Arabia, Riyadh. This significant move is part of the company's broader expansion efforts within the Kingdom of Saudi Arabia (KSA) and the Middle East.The strategic establishment of the Riyadh headquarters aligns seamlessly...

The UAE-based telecommunications giant e& has revealed its expansion plans within Saudi Arabia, which include the establishment of a new contact centre expected to generate approximately 1,500 job opportunities.In a strategic move that aligns with Saudi Arabia's Vision 2030, e& has announced the inauguration of its new Contact and Customer Experience Centre in Riyadh. This development aims to revolutionize customer...

The Saudi Arabia’s Public Investment Fund (PIF) is in the midst of negotiations with significant figures in the boxing industry to set up a league, which could significantly alter the competitive dynamics of the sport.What Happened: Discussions are being held between the PIF and a number of influential boxing promoters, such as Matchroom Boxing and Golden Boy Promotions, with the...

The HR tech sector in Saudi Arabia is undergoing rapid expansion, with projections indicating it will grow from a valuation of US$ 1,231.71 million in 2023 to US$ 2,684.21 million by 2032, marking a CAGR of 9.25%. This growth trajectory is largely propelled by the country's ambitious Vision 2030 initiative, which aims to diversify the economy and revolutionize various sectors,...

The HR technology sector in Saudi Arabia is experiencing robust growth, propelled by the push for modernization and the aim to enhance employee involvement. With substantial capital inflow and a firm commitment to technological advancement, the country is poised to redefine its human resources framework, establishing new benchmarks within the region.The value of the HR tech industry in Saudi Arabia...

Investment Spotlight on Saudi Aramco’s Latest Share OfferingSaudi Arabia has made a striking move in the global investment scene by releasing a new batch of shares for its oil giant, Aramco, which garnered considerable international capital. This recent development marks a stark contrast to the tepid interest observed five years prior.International Investors Jump on Aramco SharesInvestors from a diverse array...

Under the leadership of Prince Fahd bin Mansour bin Nasser bin Abdulaziz, Saudi Arabia’s representatives are set to make a significant impact at the G20 Young Entrepreneurs' Alliance Summit (G20 YEA Summit) scheduled from June 12 to June 14. The Saudi delegation encompasses figures from governmental sectors, the business community, and a cadre of select Saudi entrepreneurs. Prince Fahd has...

In a stunning display of creativity and collaboration, the ROSHN Waterfront has introduced a visually striking mural, spanning its entire walkway, which measures an impressive 16,000 square meters. The artwork, a result of the combined efforts of local artists and volunteers, encapsulates the essence of Jeddah's vibrant culture and the distinctive characteristics of ROSHN. The initiative to beautify the waterfront...

In the midst of strategic advancements and upcoming global events such as Expo 2030, Saudi Arabia boasts an impressive $1.5 trillion in construction projects yet to be awarded. These projects are a direct reflection of the ambitious goals set forth in the nation's Vision 2030 initiative.The kingdom's construction initiatives make up a substantial 39 percent of the Middle East and...

Patria Investments Ltd., a prominent player in the alternative asset management space within Latin America, is actively pursuing the expansion of its portfolio companies into Saudi Arabia. This strategic move is aimed at capitalizing on the business-friendly initiatives of the kingdom, particularly those encapsulated in the ambitious Vision 2030 strategy.Key enterprises under Patria's umbrella, such as the fitness chain Smartfit...

ROSHN Group, a prominent real estate developer, has established collaborative agreements with four leading financial institutions in Saudi Arabia—Arab National Bank, Bank Albilad, Bank AlJazira, and Riyad Bank. These partnerships are geared toward providing a comprehensive suite of financial services to the group's associated sub-developers and contractors. The agreements are designed to supply specialized banking services, which underscore ROSHN Group's...

The travel and tourism industry in Saudi Arabia has seen a remarkable expansion, growing by over 32 percent in 2023, and injecting a historic SR444.3 billion (approximately $118.4 billion) into the nation's economy according to recent findings.A report from the World Travel and Tourism Council’s 2024 Economic Impact Research showcased the Kingdom’s significant contribution to GDP, job creation, and increased...

Hoffmann Green Cement Technologies, a pioneering French company, announced the commencement of construction for its very first Hoffmann cement facility in Rabigh, Saudi Arabia, known as H-KSA 1.The initiation of the Rabigh plant construction comes on the heels of a binding 22-year exclusive licensing agreement with the Shurfah Group, a prominent Saudi conglomerate with extensive real estate interests, including a...