$72 Mn in Investment Agreements Signed at Saudi Products Expo in Kuwait

Officials sign agreements at the Saudi National Products Exhibition (SNP Expo 2) in Kuwait. (SPA)
Officials sign agreements at the Saudi National Products Exhibition (SNP Expo 2) in Kuwait. (SPA)
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$72 Mn in Investment Agreements Signed at Saudi Products Expo in Kuwait

Officials sign agreements at the Saudi National Products Exhibition (SNP Expo 2) in Kuwait. (SPA)
Officials sign agreements at the Saudi National Products Exhibition (SNP Expo 2) in Kuwait. (SPA)

The Saudi National Products Exhibition (SNP Expo 2), held in Kuwait, saw the signing of 20 agreements with investments exceeding SAR 270 million ($72 million).

In addition, several memoranda of understanding (MOUs) were signed to exchange consulting services and strengthen cooperation.

The four-day event, which concluded on Saturday, featured panel discussions and workshops with officials, experts, and specialists.

These sessions highlighted the quality and diversity of Saudi industries, reflecting the growth of the Saudi private sector and its role in achieving the Kingdom’s Vision 2030.

On Friday, the exhibition saw the signing of six agreements with investments exceeding SAR 70 million ($18.67 million).

On Thursday, 14 agreements were signed, with investments surpassing SAR 200 million ($53.33 million).

The deals mark a significant step in boosting national industries and encouraging investment in this crucial sector, in line with the goals of Vision 2030.

In this regard, CEO of the SNP Expo Hend Aloni stated: “The agreements signed in the past two days demonstrate the success of the expo in attracting investors and entrepreneurs.”

This aligns with the key objectives of the SNP Expo, which aims to boost investment flow into the national economy and increase the appeal of the industrial sector, she stressed.

She underscored the event’s success in promoting Saudi products and expanding their distribution worldwide.



GASTAT: Saudi Economy Experienced Highest Quarterly Growth in 2 Years

The Saudi capital Riyadh. SPA
The Saudi capital Riyadh. SPA
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GASTAT: Saudi Economy Experienced Highest Quarterly Growth in 2 Years

The Saudi capital Riyadh. SPA
The Saudi capital Riyadh. SPA

The General Authority for Statistics (GASTAT) released on Sunday the GDP report and national accounts indicators for 2024 and the fourth quarter of 2024, showing a 1.3% growth in real GDP compared to the previous year, with non-oil and government activities increasing by 4.3% and 2.6%, respectively, while oil activities declined by 4.5%.
In terms of quarterly estimates, real GDP grew by 4.5% in the fourth quarter of 2024 compared to the same quarter of the previous year. This growth was attributed to positive performance across all economic sectors.

Non-oil activities increased by 4.7%, oil activities grew by 3.4%, and government activities rose by 2.2% year-on-year.
The GASTAT report also noted that seasonally adjusted real GDP in the fourth quarter of 2024 grew by 0.5% compared to the third quarter of 2024.