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1.4 Million Commercial Registers in Saudi Arabia

The Saudi Business Center provides all services to facilitate the process of issuing commercial registers. (Asharq Al-Awsat)
The Saudi Business Center provides all services to facilitate the process of issuing commercial registers. (Asharq Al-Awsat)
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1.4 Million Commercial Registers in Saudi Arabia

The Saudi Business Center provides all services to facilitate the process of issuing commercial registers. (Asharq Al-Awsat)
The Saudi Business Center provides all services to facilitate the process of issuing commercial registers. (Asharq Al-Awsat)

The Saudi Ministry of Commerce said that more than 95,000 commercial registers were issued during the fourth quarter of 2023, an increase of 23 percent year-on-year, bringing the total existing commercial registers by the end of the year to more than 1.4 million.

The Ministry of Commerce issued the Business Sector Bulletin for the fourth quarter of 2023 on Wednesday. The bulletin monitors the most important developments in the sector, as well as the growth of commercial registers.

The official data highlighted the importance of e-commerce, which represents a key tributary to the national economy. The number of commercial registers for this sector reached 37,400 records by the end of the fourth quarter of 2023, with a growth rate of 24 percent, on an annual basis.

Strengthening the e-commerce business system is one of the goals of the National Transformation Program within Vision 2030. Five regions topped the list in terms of e-commerce registrations. Those include Riyadh with 15,074 registrations, followed by Makkah at 9,529 and the Eastern Province at 6,011. On the other hand, Madinah issued 1,839 registers, followed by Qassim at 1,259.

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The Ministry of Commerce said that the Kingdom was among the top 10 developing economies in e-commerce, raking 8th out of 152 countries, according to the United Nations Conference on Trade and Development (UNCTAD) index.

The expected total revenues from e-commerce by 2025 is estimated at around SAR 260 billion ($69.3 billion), with a compound annual growth rate of 15 percent, according to the data, which also revealed that the value of venture investment in startups operating in online industry reached an estimated SAR 446 million in 2022.

The bulletin highlighted the most important economic activities in promising sectors related to the technology, entertainment, transportation, tourism, and others.

It pointed to growth in a number of activities, including cloud computing services, software publishing, resorts, land transportation of goods, sea clubs, and the manufacture of medical tools and equipment, which all provide the local and foreign business sector with opportunities for business development and expansion of partnerships.

For example, the number of registers for cloud computing services reached about 1,700 at the end of the fourth quarter of 2023, compared to 1,200 registers in the same period in 2022, which means a growth of 40 percent.

With regard to visual arts activities, the number of existing commercial registrations by the end of the fourth quarter reached 822, achieving a growth rate of 103 percent, on an annual basis.

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COP 16 Launches Monday in Riyadh: Advancing a World Free of Desertification

Riyadh is hosting this Monday the 16th Conference of the Parties (COP 16). (Asharq Al-Awsat)
Riyadh is hosting this Monday the 16th Conference of the Parties (COP 16). (Asharq Al-Awsat)
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COP 16 Launches Monday in Riyadh: Advancing a World Free of Desertification

Riyadh is hosting this Monday the 16th Conference of the Parties (COP 16). (Asharq Al-Awsat)
Riyadh is hosting this Monday the 16th Conference of the Parties (COP 16). (Asharq Al-Awsat)

Global attention turns to Riyadh, Saudi Arabia, as it hosts the 16th Conference of the Parties (COP 16) under the United Nations Convention to Combat Desertification (UNCCD). The event seeks to address environmental challenges threatening the planet, intensify efforts to combat land degradation, and reduce the impact of drought.
From December 2 to 13, Riyadh will host representatives from 197 countries, signatories to the UNCCD, to collaborate on effective solutions for rehabilitating millions of hectares of degraded land and building resilience against drought. The conference aims to support policymakers while engaging the private sector and civil society in protecting the environment and conserving natural resources.
COP 16 is the largest meeting in the history of the UNCCD and the first to be held in the Middle East. It also represents Saudi Arabia’s largest-ever multilateral conference and coincides with the 30th anniversary of the UNCCD, established alongside the Rio Conventions on climate change and biodiversity in 1992.
UN Secretary-General Antonio Guterres highlighted the significance of COP 16 as a potential turning point, renewing global commitment to accelerating investments in land restoration and drought resilience. He described it as the largest UN conference on land to date and a landmark event for the Middle East and North Africa.
Saudi Arabia is a key supporter of global environmental efforts. The Crown Prince’s Saudi Green Initiative aims to rehabilitate 49 billion square meters of land. This initiative has gained regional and international support, with Gulf nations already undertaking reforestation and coastal protection projects.
The Conference Program
The conference features an innovative dual-track approach, combining formal negotiations with an action-oriented agenda, according to the COP 16 presidency. This approach aims to address urgent global crises, including desertification, land degradation, and drought, through practical and implementable decisions.
The action agenda will focus on showcasing voluntary initiatives, innovative solutions, and discussions on key topics such as artificial intelligence, sustainable land management, and the social and economic impacts of land degradation. High-level ministerial sessions will explore critical issues, including drought resilience, financing, and the relationship between land degradation, forced migration, and security.
Dr. Osama Faqeeha, Deputy Minister for Environment and advisor to COP 16, emphasized the pivotal role of the conference in tackling global challenges related to land degradation and drought. He noted that Saudi Arabia has introduced the first-ever Green Zone in COP history. This zone aims to engage scientists, businesses, financial institutions, NGOs, and the public in collaborative efforts to drive lasting change.
The COP 16 agenda includes thematic days to focus discussions and accelerate outcomes: December 4: Earth Day, December 5: Food Systems Day, December 6: Governance Day, December 7: Peoples’ Day, December 9: Science, Technology, and Innovation Day, December 10: Capacity Building Day, and December 11: Finance Day.
Saudi Green Initiative Forum
In parallel with COP 16, Riyadh will host the 4th annual Saudi Green Initiative Forum on December 3–4 under the theme “Inspired by Nature”. The forum will gather policymakers, business leaders, and experts from around the world to share best practices, explore innovative solutions, and review progress toward the initiative’s sustainability goals.
Land degradation currently affects approximately 40% of the Earth’s surface, impacting the lives of 3.2 billion people worldwide, according to the UNCCD. Each year, nearly 100 million hectares of land deteriorate, while drought intensity and frequency have risen by one-third since 2000.
Despite the urgent need for action, restoration and resilience efforts remain significantly underfunded. COP 16 aims to prioritize mobilizing public and private financing to accelerate land restoration and enhance global resilience, building a sustainable future for both people and the planet.