MUST-READS

• Saudi Arabia Participates in Ministerial Meeting in New York to Back Yemeni Government

  The Saudi Development and Reconstruction Program for Yemen (SDRPY) has participated in the international ministerial meeting to support the Yemeni government, held here in conjunction with the UN Security Council meeting and co-chaired by Yemeni Prime Minister Dr. Ahmed Awad bin Mubarak and British Minister for the Middle East and North Africa Hamish Falconer. SDRPY Director of Developmental Programs Dr. Hala Alsaleh underscored that Saudi Arabia's participation in the meeting reflects its ongoing commitment to supporting Yemen across various sectors. She highlighted the Kingdom's consistent efforts to foster peace and stability in Yemen through comprehensive development initiatives led by the program.

• KAUST leads efforts to kickstart an innovative cement industry in Saudi Arabia
  As part of efforts to support the Kingdom in diversifying the Saudi economy and creating innovative new industries, KAUST has announced the Future Cement Initiative (FCI) to guide cement manufacturing. KAUST, the Ministry of Industries and Mineral Resources, and the National Committee of Cement Companies form the core group of founding partners of the FCI. Saudi Arabia’s industrial sectors have surged by 60% over recent years, reflecting the country’s efforts to diversify its economy and position itself as a global manufacturing power. Many of these projects are cement intensive, and a primary goal of the FCI aims to improve the economic and environmental competitiveness of cement manufacturing in Saudi Arabia through the development of cost-effective approaches and innovative technologies. In turn, this will position Saudi Arabia as a leader in the Middle East region’s cement industry.

• Saudi Minister of Finance Participates in 2025 World Economic Forum Annual Meeting

  His Excellency the Saudi Minister of Finance, Mr. Mohammed Aljadaan, will participate as a member of the Saudi delegation at the 2025 World Economic Forum (WEF) Annual Meeting, scheduled to be held January 20-24, 2025 in Davos-Klosters, Switzerland under the theme "Collaboration for the Intelligent Age". During the 2025 WEF Annual Meeting, Minister Aljadaan will participate in several sessions to discuss various topics including new approaches to measuring growth, ways to drive action through international forums, challenges facing emerging economies, MENA region's economic growth, economic diversification's impact on sustainability, GCC's role in global economic growth, as well as Saudi Arabia's economic transformation.

• China and Saudi Arabia: A Deepening Strategic Partnership

  Increasing political, strategic, and economic engagements with the Middle East and North Africa (MENA) region has been a notable feature of Chinese foreign policy, especially since the launch of its flagship Belt and Road Initiative (BRI) in 2013. One of the key countries with which China has strengthened its engagement is Saudi Arabia. The kingdom is an important regional power, with influence in the Arab-Islamic world as well as in the global energy market. In December 2022, during a visit by Chinese President Xi Jinping to Riyadh, the two countries signed a comprehensive strategic partnership agreement that underlined the growing Chinese inroads into a region that has traditionally been regarded as an American sphere of influence.^[1] The China-Saudi Arabia strategic partnership has the potential to impact the geopolitical makeup of the entire region, which is part of India’s extended neighbourhood.

• Al-Falih: 571 global companies moved their headquarters to Saudi Arabia

  Minister of Investment Eng. Khalid Al-Falih said that the initiative of moving regional headquarters of global companies to Saudi Arabia is proceeding steadily well in a way accomplishing its goals. “The number of international companies licensed to establish their headquarters and moved to the Kingdom has reached 571, most of which have opened their offices in the King Abdullah Financial Center in Riyadh. The largest share of them are industrial companies, and incentives will be provided to these companies through various programs,” he said.

• Newlab Expands to the Kingdom of Saudi Arabia to Catalyze Critical-Tech Ecosystem and Accelerate Startup-Led Economic Growth

  Newlab Riyadh will attract leading critical-tech startups to KSA and accelerate commercialization outcomes that will translate into measurable economic impact in the Kingdom and broader region. Newlab Riyadh joins Newlab’s growing network of hubs around the world, including Newlab Brooklyn, Newlab Detroit, and Newlab Montevideo. Newlab will establish an initial beta space in Riyadh in 2025 to serve as an anchorpoint for the founding startup ecosystem while commencing development of a larger hub which is slated to open in 2026.

• UK to sign critical minerals partnership with Saudi Arabia
  Britain will sign a minerals cooperation partnership with Saudi Arabia that could help strengthen supply chains, create opportunities for British businesses and attract investment into the UK, the British government said on Tuesday. Britain needs a secure, long-term supply of critical minerals, such as copper, lithium and nickel, which are used to make smartphones and electric cars, but are also vital to build data centres that help develop artificial intelligence systems. On its part, Saudi Arabia, which estimates the value of its untapped mineral resources at $2.5 trillion, is aiming to become a major global hub for critical minerals trade.

• Saudi EXIM is the Strategic Partner of the FUTURE MINERALS FORUM 2025

  The Saudi Export-Import Bank (Saudi EXIM) will participate as a strategic partner in the 4th edition of the FUTURE MINERALS FORUM 2025, organized by the Ministry of Industry and Mineral Resources. The event will take place from January 14 to 16 at the King Abdulaziz International Conference Center in Riyadh, under the theme: “Year of Impact." Saudi EXIM's partnership aims to support and empower the mining sector, and stimulate investment opportunities through active participation in panel discussions, the exhibition, and by showcasing its financing and credit solutions. These initiatives are specifically designed to enhance the global reach and growth of Saudi mining and mineral exports.

• How to start a business in Saudi Arabia for foreigners

  The Ministry of Investment is the primary authority guiding and regulating investments in Saudi Arabia. It facilitates investment licenses and provides comprehensive information about opportunities, incentives, guarantees, and legal frameworks. Saudi Arabia is a land of opportunity for foreign investors, offering a dynamic business environment shaped by Vision 2030. This transformative initiative aims to diversify the Kingdom's economy and foster sustainable development. With comprehensive reforms and government support, the process of establishing a business in Saudi Arabia has become more accessible. Al Othman Lawyers & Consultants, with years of experience, is a trusted partner for foreign investors navigating this journey.

• Saudi Arabia, Already Pumping Money Into Boxing, May Start League With TKO

  The potential investment in TKO follows a Saudi Arabian effort in June to create a multibillion-dollar boxing league that would aim to unite the world’s best boxers, who for decades have been divided by rival promoters and fighting for titles controlled by an alphabet soup of sanctioning bodies. That effort, while not completely abandoned, had proved complicated and expensive, even for a country like Saudi Arabia, which for the past half decade has disbursed billions to become a player across some of the world’s biggest sports.

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