By Innovation-sa on November 14, 2018 in News

Custodian of the two Holy mosques King Salman launched more than 600 development projects worth SR16.5 billion in Qassim region in the presence of Crown Prince Muhammed bin Salman, deputy premier and minister of defence, and several princes, ministers and high-ranking officials on Wednesday.   King Salman initiated 402 projects worth SR12.15 billion falling in 12 diverse sectors and laid the foundation stone for…

By Innovation-sa on November 14, 2018 in News

The labor market bulletin published by the General Authority for Statistics (GaStat) stated that about 48,000 Saudi women entered the job market in the second quarter of 2018 marking an increase of 8.8 percent in comparison to the previous year.   The department of nationalization of jobs at the Ministry of Labor and Social Development is working tirelessly on developing remote employment centre to…

By Innovation-sa on November 12, 2018 in News

Saudi Aramco and SABIC have announced Yanbu as the site for development of an integrated industrial complex to convert crude oil to chemicals (COTC), the first of its kind in the world.   The establishment of the complex will contribute to creating opportunities for setting up small and medium enterprises and factories and play a key role in national economic diversification as well as…

By Innovation-sa on November 12, 2018 in News

Saudi Arabia’s Crown Prince Muhammed bin Salman inaugurated a program to build the first nuclear research reactor in the Kingdom during a visit to King Abdulaziz City for Science and Technology (KACST), the Saudi Press Agency (SPA) reported.   The program is one among the seven strategic ventures launched by the Crown Prince in the fields of renewable energy, atomic energy, water desalination, genetic…

By Innovation-sa on November 1, 2018 in News

Saudi Arabia’s Minister of Justice Waleed Al-Sama’ani inaugurated the first labor courts in the Kingdom on Monday.   The specialized labor courts are a result of three years of continuous efforts by the Ministry of Labor and Social Development (MLSD) to increase transparency of the labor market and thereby boost investment and drive the economy towards development in line with the objectives of Vision…

By Innovation-sa on October 31, 2018 in News

Saudi Arabia, the largest and most populous Gulf Cooperation Council (GCC) country, has more than 5,200 construction projects worth $819 billion underway, according to latest reports from BNC Network.   These projects account for 35 percent of the total value of active projects across the GCC countries, according to The Big 5 Saudi, the Kingdom’s premier construction event.   The construction sector’s immediate outlook…

By Innovation-sa on October 31, 2018 in News

London-listed NMC Healthcare and Saudi Arabia’s Hassana Investment Company, has signed a memorandum of understanding (MoU) to establish a network of medical facilities across the Kingdom.   The joint venture targets to become one of the largest private healthcare operators in the Kingdom with a total investment of $1.6 billion and aims to provide employment to over 10,000 staff in the next five years….

By Innovation-sa on October 31, 2018 in News

NEOM, a mega investment and business special zone unveiled by Prince Muhammed last October at the Future Investment Initiative (FII) conference as part of plans to diversify the Kingdom’s oil dependent economy, has entered into its first phase of construction and works to develop the infrastructure of the first residential area at NEOM has already begun.   The proposed $500 billion NEOM will be…

By Innovation-sa on October 25, 2018 in News

The first day of Future Investment Initiative (FII) saw Saudi Arabia sign at least 25 deals worth more than $50 billion, of which 12 were described as “mega deals”.   The investment conference, hosted under the leadership of Crown Prince Muhammed bin Salman from October 23- 25 at Riyadh, struck major deals in oil, gas and infrastructure sectors including the second phase of Haramain…

By Innovation-sa on October 25, 2018 in News

Saudi Arabia revealed plans to establish a Special Economic Zone (SEZ) at King Khalid International Airport in Riyadh to attract more foreign investment to the country, the Saudi Press Agency (SPA) reported.   SEZ, the first of its kind in the world will focus on integrated logistics and will have its own set of simplified rules and regulations to attract multinational companies to the…