The first foreign visit of US President Donald Trump’s term saw business leaders from Saudi Arabia and the US signing nearly $400bn worth of agreements and deals. These commercial agreements were designed to foster mutual benefits and investments in both countries. King Salman bin Abdulaziz Al Saud met President Trump just over a year after the...
One consequence of Saudi Arabia’s strong economic and population growth in recent years has been a major surge in construction, with new neighbourhoods, industrial estates, office complexes, hotels and hospitals all going up around the Kingdom.
Large-scale renewable energy investments, and new rules specifying how much revenue from Saudi Aramco must be spent on domestic content, are set to drive manufacturing growth. Creating a local supply chain is at the heart of plans to install 3.5 GW of renewable energy capacity by 2020, while the In-Kingdom Total Value Add (IKTVA) programme adopted...
At Saudi Technology Development and Investment Company (TAQNIA) aviators and engineers, who are the beneficiaries of Saudi Arabia’s investments in defence and education, are making plans for the future of the Kingdom’s aerospace industry. TAQNIA, which was formed by royal decree in 2011 as a branch of the Public Investment Fund, is drawing on...
The fast-moving consumer goods (FMCG) industry supplies Saudi shoppers with local and international brands. A select group of domestic family-owned trading businesses are suppliers for the household brand names of the global FMCG business. Through joint ventures (JVs) and subsidiaries, these regional conglomerates are involved in the manufacture,...
In four decades the natural gas in Saudi Arabia’s oil fields has been transformed from an inconvenient by-product into essential feedstock for an industry that supports thousands of jobs and generates 15% of the country’s export revenues. Since its creation in 1976 by royal decree, Saudi Arabia Basic Industries Corporation (SABIC) has grown into the...
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