Royal Commission for AlUla, Monsha’at Partner to Unlock Region’s Economic Potential

FILE PHOTO: Visitors walk outside the tombs at the Madain Saleh antiquities site, AlUla, Saudi Arabia February 10, 2019. REUTERS/Stephen Kalin
FILE PHOTO: Visitors walk outside the tombs at the Madain Saleh antiquities site, AlUla, Saudi Arabia February 10, 2019. REUTERS/Stephen Kalin
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Royal Commission for AlUla, Monsha’at Partner to Unlock Region’s Economic Potential

FILE PHOTO: Visitors walk outside the tombs at the Madain Saleh antiquities site, AlUla, Saudi Arabia February 10, 2019. REUTERS/Stephen Kalin
FILE PHOTO: Visitors walk outside the tombs at the Madain Saleh antiquities site, AlUla, Saudi Arabia February 10, 2019. REUTERS/Stephen Kalin

The Royal Commission for AlUla (RCU) and the Saudi Arabian Government’s Small & Medium Sized Enterprises General Authority (Monsha’at) have signed an agreement that would benefit entrepreneurs and SMEs in the governorate.

“At the heart of the partnership is a plan to establish a new co-working space in AlUla where local SMEs and entrepreneurs can access support services to accelerate their growth, helping them succeed through the provision of knowledge and expertise and enhancing the entrepreneurial spirit to contribute to a sustainable, diversified economy in AlUla,” RCU said in a statement.

The agreement, signed by Amr AlMadani, RCU CEO, and Monsha’at Governor Saleh AlRasheed supports the region’s economic growth potential, including key industries such as tourism and agriculture, and reflects the Kingdom’s diversification as part of Vision 2030.

“Once developed, the incubator will facilitate access to established services, including the SME’s Governmental Registration, and support unique investment opportunities within AlUla. It will also bring access to Monsha’at’s services to AlUla,” said the statement.

“This collaboration with Monsha’at enhances AlUla’s economic diversity, building on AlUla’s vision and empowering local entrepreneurs and SMEs within a vibrant society: not only to harvest the benefits of the region’s development, but to be drivers of its transformation,” it quoted AlMadani as saying.

As for AlRasheed, he said the new agreement brings Monsha’at’s expertise and programs in SME incubation together with the extraordinary economic opportunities emerging in AlUla.

“With RCU, we will work to bring global practices in SME support to AlUla,” he added.

According to AlMadani, the SME incubation center aims to become a “Launchpad” for local entrepreneurs to unleash their energy, creativity and synergy to drive AlUla’s development.

This is the most recent in a series of initiatives to create new educational, professional, and developmental opportunities for locals to help them reach their full potential and maximize their contribution as members of the local community.



Japan Births in 2024 Fell Below 700,000 for First Time 

People walk along a pedestrian crossing at a shopping street Wednesday, June 4, 2025, in Tokyo. (AP)
People walk along a pedestrian crossing at a shopping street Wednesday, June 4, 2025, in Tokyo. (AP)
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Japan Births in 2024 Fell Below 700,000 for First Time 

People walk along a pedestrian crossing at a shopping street Wednesday, June 4, 2025, in Tokyo. (AP)
People walk along a pedestrian crossing at a shopping street Wednesday, June 4, 2025, in Tokyo. (AP)

The number of births in Japan last year fell below 700,000 for the first time on record, government data showed Wednesday.

The fast-ageing nation welcomed 686,061 newborns in 2024 -- 41,227 fewer than in 2023, the data showed. It was the lowest figure since records began in 1899.

Japan has the world's second-oldest population after tiny Monaco, according to the World Bank.

Prime Minister Shigeru Ishiba has called the situation a "quiet emergency", pledging family-friendly measures like more flexible working hours to try and reverse the trend.

Wednesday's health ministry data showed that Japan's total fertility rate -- the average number of children a woman is expected to have -- also fell to a record low of 1.15.

The ministry said Japan saw 1.6 million deaths in 2024, up 1.9 percent from a year earlier.

Ishiba has called for the revitalization of rural regions, where shrinking elderly villages are becoming increasingly isolated.

In more than 20,000 communities in Japan, the majority of residents are aged 65 and above, according to the internal affairs ministry.

The country of 123 million people is also facing increasingly severe worker shortages as its population ages, not helped by relatively strict immigration rules.

In neighboring South Korea, the fertility rate in 2024 was even lower than Japan's, at 0.75 -- remaining one of the world's lowest but marking a small rise from the previous year on the back of a rise in marriages.