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EXPLAINED: Ministry of investment - The Real Truth

Omani-Saudi Committee to Develop Dhahirah Economic Zone

The Public Authority for Special Economic Zones and Free Zones in the Sultanate of Oman (OPAZ) issued a decision to form an executive committee that would include representatives from Oman and Saudi Arabia to supervise a project to develop an integrated economic zone in Al-Dhahirah governorate. Chaired by Ahmed bin…

Asharq Al-Awsat

Saudi Arabia Signs Agreement to Develop Aviation-Grade Titanium Alloy Value Chains

The Saudi Ministry of Investment signed on Monday an investment cooperation agreement with Saudi Arabia’s Tasnee and Boeing to explore the potential investment and development collaboration opportunities to advance the aviation-grade titanium alloy value chain in the Kingdom for mid and downstream applications. Tasnee CEO and board member Mutlaq al-Morished…

Asharq Al-Awsat

Saudi Arabia Supports Companies to Enter Cameroon, Togo Markets

The Saudi Ministry of Investment is currently working on listing all national companies interested in investing in Cameroon and Togo as part of its support for Saudi investment abroad and addressing its challenges with the relevant authorities. Several Saudi government agencies aim to stimulate and support the private sector to…

Asharq Al-Awsat

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Saudi Investment Ministry Signs 2 MoUs at Riyadh Global Medical Biotechnology Summit

The Ministry of Investment signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology at Riyadh Global Medical Biotechnology Summit 2023, the Saudi Press Agency reported Friday. The MoUs were signed in the presence of Minister of…

Asharq Al-Awsat

Saudi Arabia to Expedite Opening of Accounts for Foreign Companies

The Saudi Central Bank (SAMA) has called on local banks to facilitate and speed up the procedures for opening accounts for foreign companies, in order to encourage them to transfer their regional headquarters to the Kingdom. The step is aimed at strengthening the country’s economy, providing employment opportunities, and boosting…

Asharq Al-Awsat

Saudi Arabia Registers Jump in Foreign Direct Investment Inflows

Foreign direct investment flows recorded a growth of 46.5% during the second quarter of this year, compared to the same period of 2021, after excluding the Saudi Aramco deal amounting to 46.5 billion riyals ($12.4 billion). Last year, Aramco forged a pipeline infrastructure deal worth 46.5 billion riyals ($12.4 billion)…

Asharq Al-Awsat

Industry and Mineral Resources Minister Inaugurates Saudi Pavilion at IMARC in Sydney

Minister of Industry and Mineral Resources Bandar Al-Khorayef has opened the Saudi Pavilion at the International Mining and Resources Conference (IMARC) held in Sydney, Australia between November 2 and 4 . The pavilion is part of the "Invest Saudi" program with the participation of the Ministry of Industry and Mineral…

Asharq Al-Awsat

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UAE’s Burjeel Holdings to Invest $1 Billion in Saudi Arabia Health Sector

The UAE-based healthcare provider Burjeel Holdings signed on Wednesday a memorandum of understanding (MoU) with the Saudi Ministry of Investment that includes working with local institutions. The company, which owns and operates hospitals and other healthcare facilities, will invest up to SAR3.75 billion ($1 billion) in the Kingdom by 2030.

Asharq Al-Awsat

Saudi Arabia Opens Economic Channels in New Regions

Saudi Arabia continues to open communication channels with new regions and countries within its international economic openness framework. The Saudi-Caribbean Investment Forum concluded in Punta Cana, Dominican Republic, which was held in partnership with the Caribbean Association of Investment Promotion Agencies (CAIPA). The forum featured the participation of investment leaders…

Asharq Al-Awsat

Saudi Offers 76 Investment Opportunities in Military, Defense Industries

Saudi Arabia has revealed that it has an estimated 76 investment opportunities in six different areas of defense and military industries. Ayma al-Hazmi, head of the Saudi Local Content and Government Procurement Committee at the Federation of Saudi Chambers, stressed that the General Authority for Military Industries plays important roles…

Asharq Al-Awsat

Saudi Arabia Signs 100 Investment Deals Worth $4Bn during Q1

Saudi Arabia has signed 101 investment deals during the first quarter of this year, amounting to $4 billion. Supervised by the Ministry of Investment, the deals are expected to provide more than 5,000 new job opportunities. The Kingdom is the sixth among the G20 economies with the highest foreign exchange…

Asharq Al-Awsat

Saudi-Thai Roadmap to Boost Partnership in 4 Investment Sectors

Saudi Minister of Investment Khalid al-Falih announced that the developed Saudi-Thai road map would be further boosted by the new investments in tourism, healthcare, industry, and manufacturing operations. The Ministry of Investment in Riyadh organized the Saudi-Thai Investment Forum, with the participation of the Minister of Investment, the Thai Deputy…

Asharq Al-Awsat

Saudi Arabia Tops Islamic Financial Service Sector with $800 bln in Assets

The Islamic financial services industry in Saudi Arabia enjoys a prominent position globally, announced Deputy Governor of the Saudi Central Bank (SAMA) for Research and International Affairs Dr.

Asharq Al-Awsat

On Earth Day, climate activists call for ban on buying Russian oil

Climate change campaigners held a wave of protests for Earth Day on Friday, pushing demands such as an immediate halt to European imports of Russian oil and gas, and an end to building fossil fuel infrastructure.

Reuters

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Asharq Al-Awsat

Law on Real Estate Ownership and Investment by Non-Saudis Amended to Boost Competitiveness

Saudi Arabia amended the Law on Real Estate Ownership and Investment by non-Saudis to increase and improve the efficiency and effectiveness of the procedures and controls related to the ownership or use of real estate by foreigners, who enjoy natural and legal capacity in cities and economic zones in the…

Asharq Al-Awsat

Saudi Arabia Orders Investors to Maintain Environmental Standards, Develop Local Infrastructure

Saudi Arabia has asked investors to maintain environmental and social standards and contribute to social responsibility. Following the new investment law, Riyadh asserted that new investors must work from their headquarters inside the Kingdom, provided that the Ministry of Investment facilitates the required procedures. Asharq Al-Awsat learned that the Federation…

Asharq Al-Awsat

GEC Witnesses $8 Billion in Agreements, Investments to Support Saudi Entrepreneurship

The Global Entrepreneurship Congress (GEC), held in Riyadh, witnessed several agreements and investments worth almost $8 billion on its second day. The agreements aim to support entrepreneurship in various fields and enhance the Kingdom's position as an attractive environment for pioneers, innovators, and creators worldwide. Global Entrepreneurship Congress (GEC), launched…

Asharq Al-Awsat

Saudi Entities Coordinate to Facilitate Issuing 'Entrepreneurship' Licenses in the Kingdom

Saudi Minister of Investment Khalid al-Falih announced that visiting Saudi Arabia in 2030 will be an opportunity for work, stability, investment, and future building. Falih indicated that the economic development in the Kingdom would lead to the development of the entire region, noting that Ministries of Investment and Commerce are…

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Asharq Al-Awsat

Saudi Arabia Seeks to Conclude Investment Protection Agreements with Several Countries

The Saudi Ministry of Investment is updating the priorities of investment contracts, in accordance with specific technical standards, with the aim to expand and protect Saudi investments across the globe and enable companies to achieve their set goals. According to official sources, the ministry has called on the Saudi private…

Asharq Al-Awsat

Ministry of Investment Signs MOU with Amazon Saudi Arabia

The Saudi Ministry of Investment (MISA) announced Saturday that it has signed a Memorandum of Understanding (MoU) with Amazon Saudi Arabia to create a dynamic business environment for growth opportunities for small and medium enterprises across the Kingdom. MISA and Amazon will form a joint committee to explore reforms across…

Asharq Al-Awsat

Saudi-Greek Map Establishes Effective Economic, Trade Partnership

Saudi Arabia and Greece aim to increase their economic, investment, and trade cooperation. The Saudi Ministry of Investment organized Sunday the Saudi-Greek Investment Forum in Riyadh, with top officials, executive directors of several large Saudi and Greek companies, and representatives of the private sector from both sides. The event aims…

Asharq Al-Awsat

Saudi-US Business Council Seeks Boosting Partnership in 4 Sectors

The Saudi-US Business Council launched its activities on Thursday with round-table meetings between Saudi and US companies and government agencies representatives. The meetings discussed four main economic sectors, including security, defense, renewable energy, and information and communication technology, with 14 ministries and government agencies, led by the Ministry of Investment…

Asharq Al-Awsat

Global Defense Companies Discuss Relocating Regional HQs to Saudi Arabia

The Saudi Ministry of Investment signed 12 memoranda of understandings (MoUs) in the aerospace and defense sectors during the World Defense Show. The four-day event, organized by the General Authority for Military Industries, was launched in Riyadh on Sunday. The partnerships aim to advance manufacturing and systems development, promote technology…

Asharq Al-Awsat

Lucid to Produce 150,000 EVs Per Year in Saudi Arabia

Lucid Group signed an agreement with the Saudi Ministry of Investment, the Industrial Development Fund, and the Economic City at King Abdullah Economic City to construct a plant in the Kingdom that will produce 150,000 electric vehicles (EVs) per year. The Public Investment Fund holds a significant stake of 62…

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Asharq AlAwsat

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Faisal bin Farhan bin Abdullah

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