MUST-READS

• Saudi Arabia wants bilateral investment treaty with India before proceeding with an FTA: Sources

  In 2022, India and the GCC announced the resumption of negotiations for a potential FTA after a hiatus of several years. The idea of an FTA with the GCC was first floated in 2004. The GCC is a six-member economic bloc comprising Saudi Arabia, the UAE, Kuwait, Qatar, Oman, and Bahrain. Apart from historical ties and the presence of nearly 9 million Indian workers, the GCC is a significant trading partner for India. Economic linkages have grown over the years, largely due to increased oil imports. In FY 2023-24, India-GCC bilateral trade reached $161.59 billion, with Indian exports accounting for $56.3 billion and imports for $105.3 billion. Last year, India offered GCC member countries the option to sign individual FTAs instead of a collective agreement. India already has an FTA with the GCC member UAE. Foreign trade experts believe the FTAs with the UAE and Oman could serve as templates for future agreements with other GCC nations.

• Saudi Arabia announces $4bn railway investment plan

  Saudi Arabia Railways (SAR) launched a program in collaboration with the Local Content and Government Procurement Authority (LCGPA) that aims to support the development of the railway industry within the country by ensuring business continuity and contributing to economic growth through the localization of railway manufacturing. The program, launched by Minister of Transport and Logistic Services Eng. Saleh Al Jasser during his patronage of the opening ceremony of the Saudi Rail Conference and Exhibition in Riyadh, offers investment opportunities for local suppliers and manufacturers to enhance local content and promote economic diversification.

• Demand and ongoing investments to boost growth of GCC companies

  Favourable economic policies and ongoing investments in infrastructure and technology-based projects will aid in the companies thriving, he added. Telecom companies profit from non-oil macroeconomic growth and regional governments’ ambitions for digitalisation and modern technologies. Meanwhile, utilities continue to maintain a strong market position and benefit from stable and transparent regulatory frameworks, with a focus o n expanding the contribution of renewables to their overall energy mix. Kohlhase expects the regional housing market to be supported by strong demand, constrained property supply in 2025 and elevated house prices.

• New Law of Commercial Registration expected to spur Saudi investment by 8.8%

  At the heart of this progress lies a series of reforms introduced by the new Law of Commercial Registration. Key changes include the removal of sub-registries for establishments, allowing businesses to operate nationwide with a single record. Entrepreneurs can now own a single establishment capable of handling multiple commercial activities, while the city-specific registration requirement has been abolished, paving the way for businesses to expand freely across the Kingdom. The report highlights tangible benefits expected from these reforms. By eliminating sub-registries, businesses are projected to save SR80 million to SR110 million annually. This financial relief is expected to spur investment growth, with local investments anticipated to rise between 7.4 percent and 8.8 percent. Furthermore, the number of branches for economic establishments is forecast to increase by 3.8 percent to 5.3 percent, underscoring the reforms' potential to foster expansion and innovation.

• Saudi Arabia’s endowment investment funds set record with over $267m in net assets

  The increase in assets was attributed to the licensing of five new entities, bringing the total to 34 endowment investment funds, 27 of which are public and seven private. Endowment funds in the Kingdom play a crucial role in driving sustainable development by providing the financial foundation for long-term projects that address critical societal needs. These reserves are established through investments where the principal amount is preserved while the earnings are used to support various charitable and development initiatives. This model ensures a continuous flow of resources for vital sectors such as education, health care, and infrastructure, as well as social welfare.

• 72 Saudi Companies to Explore Investment Opportunities in Poland and Slovakia on Monday

  A business delegation from the Federation of Saudi Chambers will begin a visit to Poland and Slovakia on Monday. The delegation will hold high-level economic meetings with senior officials from the governments of both countries, as well as with private sector representatives, to explore investment opportunities and sign several agreements and commercial partnerships. The delegation, led by Chairman of the Federation of Saudi Chambers Hassan bin Mujib Al-Huwaizi, includes over 72 businessmen and businesswomen from various economic sectors, along with representatives of governmental entities and authorities.

• Saudi Arabia’s Public Investment Fund Sold Its Entire Live Nation Stake

  Saudi Arabia’s Public Investment Fund (PIF), the oil-rich country’s sovereign wealth fund, has sold its entire stake in Live Nation, according to an SEC filing dated Thursday (Nov. 14). In April 2020, the $925-billion PIF acquired approximately 12.5 million shares that amounted to a 5.7% stake in Live Nation, making it the fourth-largest shareholder behind Liberty Media, The Vanguard Group and BlackRock. The investment, made through open-market stock purchases, attracted attention partly because the country’s government was still being criticized for the murder of journalist Jamal Khanshoggi at the Saudi consulate in Istanbul in 2019.

• Macron hosts Saudi business leaders to strengthen investments

  French President Emmanuel Macron held an expanded discussion session on Saturday with a group of Saudi and French business leaders to develop and expand mutual investments between the two countries. The meeting, held at the Élysée Palace in Paris, was attended by the visiting Saudi Minister of Investment, Eng. Khalid Al-Falih. The session included the participation of 23 CEOs representing Saudi companies, with discussions focusing on strengthening Saudi-French collaboration in key sectors such as technology, energy transition, and tourism.

• Tunisian president hosts Saudi investment minister for talks

  Tunisian President Kais Saied received Saudi Minister of Investment Khalid Al-Falih and his delegation on Saturday at the Presidential Palace of Carthage. The minister passed on greetings from King Salman and Crown Prince Mohammed bin Salman to Saied, along with their well wishes for Tunisia’s ongoing progress, stability and growth, the Saudi Press Agency reported.

• Silicon Valley’s General Catalyst makes first investment into Saudi Arabia through fintech Lean Technologies

  Silicon Valley venture capital firm General Catalyst has made its first investment in Saudi Arabia through fintech startup Lean Technologies, which just closed a Series B round worth $67.5 million. General Catalyst has $30 billion in assets under management and has backed major U.S. tech companies like Snap, Stripe and AirBnb. Lean Technologies’ fundraising round also saw participation from Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family Office, and Arbor Ventures, among others, bringing the Riyadh-based firm’s total funding to over $100 million to date, according to a Sunday statement from the company. For three of those investors — General Catalyst, Stanley Druckenmiller and Bain Capital — this investment is their first in the kingdom.

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