SUSTG.com / Research

Discover stories, topics, and more about Saudi Arebia faster.

Recent stories from sustg

MUST-READS

  • Saudi industrial sector sees 63% surge in new investments

    Saudi Arabia’s industrial sector experienced a 63 percent increase in new investments in 2023, amounting to a SR15 billion ($3.99 billion) rise compared to the previous year. According to the annual report from the Saudi Authority for Industrial Cities and Technology Zones, the cumulative funding last year reached SR415 billion, distributed across 891 projects encompassing both local and foreign ventures.

  • Saudi Arabia, Pakistan accelerate implementation of $5 billion investment package

    This was announced in a joint statement following a meeting between Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman and Pakistani Prime Minister Muhammad Shehbaz Sharif at Al-Safa Palace in Makkah on Sunday. This move is a significant step toward bolstering economic ties and is indicative of the strong relationship between the two countries.

  • Saudi Arabia’s private equity investments reach $4B in 2023

    Saudi Arabia witnessed an increasing interest in private equity investments from 2019 to 2023, MAGNITT said in a recent report. The Kingdom's private equity investments reached a peak of nearly $4 billion in 2023, recording growth for three consecutive years since 2020.

  • Saudi Arabia announces 6 mining investment opportunities

    Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining investment opportunities for local and international investors. It is part of the fifth round of mining bids for exploration licenses and encompasses gold, copper, zinc, lead, and silver ores in various regions of the kingdom, covering a total area of over 940 square kilometers, the Saudi Press Agency reported. Investment opportunities for exploration licenses include the "Al-Halahila" site in Najran, the "Jabal Qaran" site in Najran, the "Makman Hijab" in Riyadh, the "An-Nimas" site in Asir, the "Al-Mihah" site in Mecca, and the "Al-Hajirah" site in Asir.

  • Saudi Crown Prince MBS’s $100 Billion Foreign Investment Quest Falters

    The short-term reality is more complicated. California-based Lucid is increasingly guzzling Saudi money to stay in business. Last week it got a $1 billion cash lifeline from the kingdom, on top of the $5.4 billion Saudi Arabia’s Public Investment Fund (PIF) has already pumped in. Lucid, which counts the PIF as its top shareholder, had been held up as an example of foreign firms investing in Saudi Arabia’s multi-trillion-dollar “Vision 2030” economic transformation plan. But Lucid’s need for Saudi money is one sign the country’s rushed attempt at reinvention is being paid for out of pocket, with the kingdom relying heavily on its oil riches to entice firms in.

  • Egypt’s Sisi starts third term pledging more investment, social spending

    Egyptian President Abdel Fattah al-Sisi was sworn in for his third term on Tuesday in the country's new capital, the largest of the mega-projects that have come to symbolise his rule while stretching the country's finances.
    Speaking at the new parliament building, Sisi highlighted the challenges Egypt withstood in recent years while promising continued development, which many Egyptians say they feel excluded from.

  • Saudi Arabia is not abandoning upstream investment

    The 13 million bpd capacity expansion plan would have cost Aramco $40 billion. A big focus area that was stressed by Aramco’s management this year is increasing gas production by 60 percent by the year 2030. The gas will mainly come from the Jaffoura basin and will help Aramco displace around 1 million bpd of liquids that are currently being burnt for power generation in the Kingdom.

  • Saudi Arabia is not abandoning upstream investment

    Saudi Arabia’s recent announcement of shelving plans to boost its oil production capacity to 13 million barrels per day (bpd) by 2027 and instead focusing on maintaining 12 million bpd caused a stir among energy news watchers. The knee-jerk reaction to the decision came in the form of questions surrounding the future of oil demand and how the Kingdom’s U-turn represents a win for all those advocating to “keep oil in the ground.” The reality of the situation is a lot more nuanced.

  • Saudi’s New Murabba ‘open for international investment’, says CEO

    The New Murabba Development Company (New Murabba) showcased its ambitious plans for urban redevelopment and invited international investors to participate in the project at the global real estate trade show, MIPIM 2024, in Cannes, France. In February last year, Saudi Crown Prince and Prime Minister Mohammad bin Salman bin Abdulaziz launched the company to undertake an ambitious development project: building the world’s largest downtown in Riyadh by 2030. The project aims to add SAR180bn to the country’s non-oil GDP and create 334,000 direct and indirect jobs by 2030.

  • Saudi foodtech Barakah raises investment from FoodLabs

    Barakah, an online marketplace addressing commercial food waste in the region, proudly announces the strategic funding led by FoodLabs. This landmark investment marks FoodLabs' first foray into the MENA region, highlighting Barakah's exceptional growth trajectory and commitment to sustainability.  FoodLabs, a highly successful early-stage European VC specialising in foodtech and agritech startups, has an impressive portfolio that includes being the first investor in multiple unicorns and instrumental in building the fastest-growing European unicorn. The decision to partner with Barakah not only sends a strong market signal for startups in the Kingdom and across the MENA region but also aligns with FoodLabs' mission to support innovative ventures tackling pressing global challenges using proprietary technology.