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The Saudi Arabian Monetary Authority (SAMA) revealed an SR50 billion economic stimulus program to support private sector businesses as the country is taking all possible measures to combat the potential impact of the novel coronavirus outbreak on the Saudi economy.   The financial package aims to support the private sector, especially the small and medium-sized […]

The Saudi Commission for Tourism and National Heritage (SCTH) has launched a set of e-services for online licensing of several tourism activities, thereby facilitating fast-tracking of licensing as well as promoting growth and quality of the tourism sector.   In line with the objectives of Vision 2030 that calls for adoption of electronic advancements and […]

The Saudi capital is undergoing an unprecedented transformation as it aims to become a sustainable mega city in near future. It has launched the first phase of “Riyadh Green Program”, one of the most ambitious urban forestation projects in the world.   Green Riyadh is one of the four grand projects launched by King Salman on […]

Saudi Arabia is all set to implement the new franchise regulations formulated to improve transparency and encourage entrepreneurs to invest in various sectors across the Kingdom.   The regulations are expected to make the entrepreneurs more aware of their rights and encourage them to  individually acquire a franchise and expand their businesses.   Muhammad Ibrahim […]

Saudi Arabia will hold the Kingdom’s first Municipal Investments Forum at the Riyadh International Convention Center on February 24, the Ministry of Municipal and Rural Affairs announced.   The forum, titled as ‘Furas’, which means opportunities, will feature an exhibition where municipalities across the Kingdom will present over 5,000 investment opportunities.   The ministry’s deputy […]

The Saudi Authority for Intellectual Property (SAIP) has started accepting applications for registration of trademarks from interested parties in the Kingdom in line with the Gulf Cooperation Council (GCC) trademark law.   Since its establishment in 2018, the SAIP envisions to be a pioneer of intellectual property in the Middle East and North Africa region […]

The Foreign Direct Investment (FDI) to Kingdom of Saudi Arabia rose by 10 percent from $3.18 billion in 2018 to $3.50 billion during the first nine months of 2019, said Invest Saudi, the state body promoting foreign investments, based on reports published by the Saudi Arabian Monetary Authority (SAMA).   In line with the objectives of […]

The world’s most ambitious project, Saudi Arabia’s $500 billion flagship business zone NEOM, is set to announce its detailed construction plans within the next two months, said NEOM CEO Nazmi Al-Nasr in a statement to the Saudi Press Agency. “2020 will be the start of the real impetus for NEOM’s visionary projects,” he added.   Within a few […]

The Saudi Arabian Monetary Authority (SAMA) issued licenses for non-bank financial institutions in the Kingdom for the first time in its history by granting license to an electronic wallet company and a payment services company.   SAMA said in a statement that the new desicion to license financial technology companies comes as part of SAMA’s efforts […]