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Saudi Arabia Sets New Benchmarks in Privatization, Healthcare Innovation, and Venture Capital

A drone view shows cityscape in Riyadh, Saudi Arabia, June 1, 2025. (Reuters)
A drone view shows cityscape in Riyadh, Saudi Arabia, June 1, 2025. (Reuters)
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Saudi Arabia Sets New Benchmarks in Privatization, Healthcare Innovation, and Venture Capital

A drone view shows cityscape in Riyadh, Saudi Arabia, June 1, 2025. (Reuters)
A drone view shows cityscape in Riyadh, Saudi Arabia, June 1, 2025. (Reuters)

The second half of January was defined by the cementing of Saudi Arabia’s economic transformation and its emergence as a global hub for innovation and humanitarian leadership, reported the Saudi Press Agency on Tuesday.

Economic structural transformation

The Kingdom moved from planning to execution in its fiscal reforms with the official launch of the National Privatization Strategy. This concludes the foundational phase, with the National Center for Privatization & PPP having already developed over 200 projects worth $213 billion.

This structural shift is supported by robust market confidence, evidenced by Fitch affirming Saudi Arabia’s A+ rating and the Saudi Electricity Company successfully issuing $2.4 billion in international sukuk with orders exceeding $10 billion.

Simultaneously, the innovation economy reached a new peak, with Saudi Arabia leading the region in venture capital for the third consecutive year, attracting a record $1.72 billion in 2025 - a 145% annual increase driven by fintech and gaming.

Pioneering science and medicine

Saudi Arabia’s investment in advanced capabilities yielded global headlines. The King Faisal Specialist Hospital and Research Centre achieved a world-first medical milestone by performing a fully robotic living-donor liver transplant, executing both the donor and recipient surgeries robotically.

In the environmental sciences, the National Center for Wildlife published a groundbreaking study in Nature regarding the discovery of naturally mummified cheetahs in Saudi caves dating back 4,800 years, providing a genetic roadmap for reintroduction programs.

Global connectivity

The Kingdom continued to expand its global footprint. The aviation sector recorded a historic 140.9 million passengers in 2025, a 9.6% growth that outpaced regional rates, while Saudia strengthened ties with India through a new codeshare agreement with Air India.

In numbers:

60%: The new Saudization rate mandated for marketing and sales professions in the private sector.

SAR4.7 trillion: The size of the Saudi economy in 2024, nearly doubling from SAR2.6 trillion in 2016.

14.8 million: The number of Umrah performances recorded during the month of Rajab.

$39 million: The grant pledged by Saudi Arabia to the Global Fund to fight AIDS, Tuberculosis, and Malaria.

18%: The annual growth rate in the number of SFDA-licensed factories and warehouses in 2025.

2.1 million: The number of trees planted by the National Water Company in Madinah to date.

97%: The case completion rate achieved by the Board of Grievances in 2025.

41 million: The number of electronic transactions processed by the Absher platform in December 2025 alone.

25 million: The number of worshippers received at the Prophet’s Mosque during the month of Rajab.

60,000: The number of sacrificial animals (Adahi) delivered to Egypt and Palestine as part of the Kingdom's support.

2.7 billion liters: The volume of raw milk produced by specialized dairy farms in the Kingdom in 2024, with 95% certified under Saudi GAP.

317,200 square meters: The total area of two new parks announced for development in Riyadh.

24%: The increase in the number of seafarers in the Kingdom during 2025, reaching 2,948.

These figures reflect a nation that is successfully leveraging its financial strength to fuel future growth while delivering tangible results in healthcare, logistics, and digital governance today.

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Saudi Index Extends Gains

An investor monitors the Saudi stocks (AFP)
An investor monitors the Saudi stocks (AFP)
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Saudi Index Extends Gains

An investor monitors the Saudi stocks (AFP)
An investor monitors the Saudi stocks (AFP)

Most Gulf stock markets rose in early trade on Sunday, with the Saudi index extending gains to a fifth session.

Saudi Arabia's benchmark index .TASI climbed 2%, with all of its constituents posting gains, led by energy and materials stocks.

Saudi Aramco advanced 4% and Yanbu National Petrochemical surged 10%.

The Qatari benchmark .QSI rose 0.1%, with Mesaieed Petrochemical Holding gaining 5.3% and telecommunications company Ooredoo adding 2.1%.

In Muscat, ⁠the ⁠share index .MSX30 was up 1.4% and Bahrain's index .BAX edged up 0.2%.

Kuwait's index .BKP eased 0.5%, with most stocks in negative territory.

Kuwait Petroleum Corporation began cutting oil output on Saturday and declared force majeure, adding to earlier oil and gas reductions from Iraq and Qatar as the US-Iran war blocked shipments from the Middle East for the eighth consecutive day.

Business

Kuwait Makes Precautionary Cut in Oil Production

The Kuwait Petroleum Corporation (X)
The Kuwait Petroleum Corporation (X)
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Kuwait Makes Precautionary Cut in Oil Production

The Kuwait Petroleum Corporation (X)
The Kuwait Petroleum Corporation (X)

The Kuwait Petroleum Corporation (KPC) said on Saturday it has implemented a precautionary reduction in crude oil production and refining throughput as part of its risk management and business continuity strategy.

The decision came “in light of the ongoing aggression by Iran against the State of Kuwait, including Iranian threats against safe passage of ships through the Strait of Hormuz,” KPC said in a statement.

KPC affirmed the adjustment is strictly precautionary and will be reviewed as the situation develops.

“The corporation remains fully prepared to restore production levels once conditions allow. KPC stresses that all domestic market needs remain fully secured in accordance with established plans,” the statement said.

It added that KPC remains committed to prioritizing employee safety, safeguarding Kuwait's national assets, and promoting stability within global energy markets.

The statement said further updates will be provided as appropriate.

On Friday, West Texas Intermediate (WTI) crude futures climbed more than 10%, pulling closer to Brent as buyers sought available barrels, with Middle Eastern supply constrained by the effective closure of the Strait of Hormuz amid the expanding US-Israeli conflict with Iran.

Brent crude futures were up $5.42, or 6.35%, at $90.83 a barrel, while WTI was up $7.81, or 9.81%, at $89 a barrel.

Kuwait’s reduction in crude oil production will put pressure on crude prices, which analysts said could hit $100 per barrel as the security situation in the Middle East spirals.

Qatar Energy Minister Saad al-Kaabi told the Financial Times in an interview published on Friday that his country expects all Gulf energy producers to shut down exports within weeks if the Iran conflict continues and drives oil to $150 a barrel.

Qatar halted its production of liquefied natural gas on Monday, as Iran continued to strike Gulf countries in retaliation for Israeli and US attacks.

Oil supply equal to about 20% of world demand usually passes through the Strait of Hormuz each day. With the Strait now effectively closed for seven days, that means about 140 million barrels of oil — equal to about 1.4 days of global demand — has been unable to reach the market.

Business

Mawani Adds Hapag-Lloyd’s SE4 Service to Jeddah Islamic Port

Mawani Adds Hapag-Lloyd’s SE4 Service to Jeddah Islamic Port
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Mawani Adds Hapag-Lloyd’s SE4 Service to Jeddah Islamic Port

Mawani Adds Hapag-Lloyd’s SE4 Service to Jeddah Islamic Port

The Saudi Ports Authority (Mawani) announced the addition of Hapag-Lloyd’s SE4 shipping service to Jeddah Islamic Port, a move designed to bolster the Kingdom's maritime competitiveness and global trade connectivity, reported the Saudi Press Agency on Saturday.

This new route links Jeddah to major international hubs, including Tianjin Xingang, Qingdao, Ningbo, and Shanghai in China, as well as Busan in Korea and Tanjung Pelepas in Malaysia.

Boasting a capacity of up to 17,000 TEUs, the service aligns with the National Transport and Logistics Strategy to establish Saudi Arabia as a leading global logistics hub connecting three continents.

Jeddah Islamic Port continues to expand its operational footprint, utilizing its 62 multi-purpose berths and specialized terminals to support a total handling capacity of 130 million tons.