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  • Saudi Arabia allocates $2.66 billion to launch Standard Incentives Program for industrial growth

    The Kingdom of Saudi Arabia has announced the allocation of SR10 billion ($2.66 billion) to activate the Standard Incentives Program for the industrial sector. The initiative, approved by the Council of Ministers last month, aims to drive industrial investments, foster sustainable growth, and enhance Saudi Arabia’s global competitiveness. Funding is split between the construction and production phases, ensuring long-term sustainability. The programme’s first phase targets transformative chemical industries, automotive manufacturing, and machinery and equipment, with additional sectors to follow in 2025.

  • Saudi Arabia’s inflation slows slightly to 1.9% in December

    Saudi Arabia's annual inflation rate fell slightly to 1.9% in December from 2% in November, according to government data released on Wednesday. Inflation in Saudi Arabia has hovered between 1.5% and 2% for most of the year, with housing rents the main driver of price pressures. Rents for housing increased by 10.6% in December, with villa rental prices rising by 9.9%, the General Authority for Statistics said, which was the primary reason for prices for the combined housing, water, electricity, gas and other fuels category climbing by 8.9%.

  • 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.

  • Saudi Arabia targets 130 GW in renewable energy capacity: Minister

    Minister of Energy Prince Abdulaziz bin Salman said he is confident Saudi Arabia will reach 44 GW of renewable energy capacity, up from nearly 26 GW currently. Speaking at the iktva Forum & Exhibition 2025, he stated that Saudi Arabia aims to achieve 130 GW of renewable energy capacity with a 20% energy reserve margin. This goal reflects expectations for stronger-than-anticipated economic growth, requiring more energy to support expansion. “Without energy, there is no prosperous or fruitful future,” he said, underlining efforts to build renewable energy infrastructure to support the energy transition.

  • Ivanhoe Electric’s Typhoon Technology Quickly Proves its Power with Discovery in Saudi Arabia

    The Joint Venture's first TyphoonTM survey covered 76 square kilometers near Ma'aden's Al Amar gold-copper-zinc mine. It was completed in March 2024. Subsequent TyphoonTM surveys have covered an additional 162 square kilometers of the Al Amar exploration licenses. The Joint Venture's initial drill program focused on the Umm Ad Dabah prospect, near Ma'aden's existing Al Amar gold-copper-zinc mine. The Joint Venture is using Ivanhoe Electric's advanced TyphoonTM geophysical surveying systems and Computational Geosciences Inc.'s ("CGI") industry-leading inversion software to guide exploration activities.

  • Fundraising in Saudi Arabia and the GCC: What can we expect from 2025?

    Despite the challenges, the GCC's fundraising landscape in 2025 is poised for continued growth. The region's burgeoning startup ecosystem, coupled with supportive government initiatives and a growing appetite for risk among investors, creates a fertile ground for VC investment. However, navigating the evolving preferences of LPs and effectively addressing the challenges of competition and talent acquisition will be crucial for long-term success. The GCC fundraising landscape in 2025 presents a mixed picture. While the venture capital (VC) asset class exhibits strong tailwinds, driven by growing opportunities and an increasing number of exits facilitated by the Saudi stock market, several challenges persist.

  • Saudi Arabia’s Golden Handshake: A Generous Farewell to Civil Servants.

    Saudi Arabia has rolled out a remarkable initiative called the “Golden Handshake” program, earmarking a hefty sum of 12.7 billion Saudi Riyals to encourage early retirement among its civil servants. This isn’t just any policy; it’s a strategic move designed to streamline government operations and inject new life into the workforce by making room for the younger generation. The essence of this program lies in its offer of financial incentives to those who’ve dedicated years to public service, providing them with an opportunity to step back gracefully. To qualify for this golden opportunity, there are specific criteria set by the program. You’ve got to have clocked in at least 15 years of service and be aged between 50 and 55.

  • Saudi Arabia plans cash pay-offs to cut public sector jobs

    Saudi Arabia is to offer cash incentives to encourage unproductive employees in the public sector to resign in a bid to tackle inefficiency. Saudi newspapers have reported that the government has earmarked nearly 12.7 billion riyals ($3.38 billion) for the three-year plan, which it dubs the ‘Golden Handshake’. While Riyadh has not clarified why it chose that name, it is clear that it wants to tempt idle Saudi civil servants to leave their jobs in return for attractive cash incentives. The Arabic language daily Aliqtisadiah and other publications said at the weekend that the plan aims to save funds, boost efficiency and encourage citizens to seek jobs in the private sector, which they have generally shunned.

  • Saudi Arabia’s Industrial Production Sees Notable Growth: A Comprehensive Analysis

    The Kingdom of Saudi Arabia has reported a significant rise in its industrial production, with the general index of industrial production recording an increase of 3.4% in November 2024, compared to the same period in 2023. According to the data released by the General Authority for Statistics, the industrial production index surged to 103.78 points in November 2024, based on the 2021 base year, compared to 100.37 points in November 2023. This rise is reflective of the steady strides Saudi Arabia is making towards diversifying its economy, as outlined in the Vision 2030 plan, and is indicative of the health of various industrial sectors. The increase in the general index of industrial production can be attributed to growth across several key sectors. Notably, mining and quarrying, manufacturing activities, water supply and sanitation, and waste management and treatment activities have all contributed to this positive trend.

  • Saudi Arabia unveils 15 new incentives to boost exports, logistics

    Saudi Arabia has rolled out 15 new incentives under the Authorized Economic Operator program, to boost export competitiveness, enhance supply chain security, and advance the Kingdom’s ambitions as a global logistics hub. The Ministry of Industry and Mineral Resources announced the incentives, which include key administrative benefits such as assigning liaison officers and account managers to streamline processes for investors and address challenges more efficiently. As part of the program, companies will also gain access to industrial land, with long-term leases of up to 30 years, and eligibility for the “Custom Factory on Demand” service. These measures are designed to support industrial expansion and strengthen the Kingdom's position in global trade.