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Agreement to Attract Qualitative Investments to KAEC

Part of King Abdullah Economic City (KAEC) in western Saudi Arabia (Asharq Al-Awsat)
Part of King Abdullah Economic City (KAEC) in western Saudi Arabia (Asharq Al-Awsat)
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Agreement to Attract Qualitative Investments to KAEC

Part of King Abdullah Economic City (KAEC) in western Saudi Arabia (Asharq Al-Awsat)
Part of King Abdullah Economic City (KAEC) in western Saudi Arabia (Asharq Al-Awsat)

The Saudi Ministry of Investment and King Abdullah Economic City (KAEC) signed on Sunday a memorandum of understanding (MoU).

The MoU aims at bolstering mutual efforts to attract qualitative investments while marketing investment opportunities and advantages provided by KAEC due to its capabilities and advanced infrastructure.

Under the MoU, the two bodies shall attract investments in several sectors through which the KAEC contributes to achieving objectives of the Kingdom’s Vision 2030.

These include the services sector, which comprises healthcare, public health, education, technology, aviation, tourism, hospitality, sports, entertainment, media, and commercial transactions, as well as the industry sector, which consists of pharmaceutical industries, consumer goods, renewable energy, light, and logistics industries and car manufacturing and construction materials.

Undersecretary for Attracting and Developing Investment in Charge at the Ministry of Investment Dr. Yousef al-Olayan said the Kingdom has been undergoing a fundamental economic transformation and is enjoying promising investment opportunities and a strong economy.

He said KAEC has been chosen for its preparedness and the attractive competitive investment environment it enjoys, as well as the components and advanced infrastructure that qualify it to be a leading investment destination and a catalyst for investors inside the Kingdom and abroad.

One of KAEC’s qualifications, which attract investments, is its strategic location on the Red Sea as a major advanced destination and a hub to link Asia, Europe, and Africa.

Olayan pointed out that the Ministry will include KAEC to participate in local and international exhibitions and forums and special visits under the umbrella of “Invest in Saudi Arabia.”

KAEC CEO Ahmed Ibrahim Linjawy hailed the Ministry’s efforts in attracting qualitative investments to the Kingdom and diversifying sources of economic growth.

He said that signing the MoU affirms the economic city’s position as one of the most important development projects and the leading investment destination on the Red Sea.

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Business

Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
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Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion.

The surge in sales represents a 68% year-on-year increase, totaling about SAR12.4 billion more than the SAR18.3 billion recorded in October 2024, according to the Saudi Central Bank (SAMA) statistical bulletin on Wednesday.

E-commerce sales for the third quarter (Q3) of 2025 hit SAR88.3 billion, up 15.2% from the previous quarter, representing an increase of about SAR11.6 billion over the SAR76.6 billion recorded in Q2.

On a monthly basis, e-commerce sales in October rose 6%, gaining approximately SAR1.6 billion over September’s total of SAR29.1 billion.

From January to October, "mada" data showed e-commerce sales grew 47.3%, rising by around SAR9.9 billion over the SAR20.9 billion recorded in January.

These figures cover transactions made via "mada" cards on e-commerce websites, apps, and digital wallets, and do not include credit-card payments.

Business

Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
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Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between Jeddah and Vnukovo International Airport.

This initiative, in partnership with the Saudi Tourism Authority and the Air Connectivity Program, boosts air links between Saudi Arabia and Russia.

It marks KAIA's third direct Russian destination, following Makhachkala and Mineralnye Vody, which were inaugurated earlier this month by Azimuth Airlines.

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location.

Business

China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)
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China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)

China on Wednesday listed more sectors eligible for foreign investment incentives, from tax breaks to preferential ​land use, in its latest effort to stem a prolonged decline in overseas capital inflows.

Under the 2025 edition of the catalogue of industries for encouraging foreign investment, China added more than 200 and revised about 300, with a ‌focus on ‌advanced manufacturing, modern services and ‌green ⁠and ​high-tech ‌sectors, the list jointly issued by the National Development and Reform Commission and the commerce ministry showed.

The new catalogue, which takes effect on February 1, 2026, replaces the 2022 version and continues a policy framework ⁠that offers foreign-invested enterprises tariff exemptions on imported equipment, preferential ‌land pricing, reduced corporate income ‍tax rates in ‍designated regions and tax credits for reinvestment ‍of profits.

The catalogue also extends incentives to central and western regions, as well as the northeast and Hainan, as Beijing seeks to attract ​more foreign investment into less developed areas.

China has in recent months ⁠taken a raft of measures to boost foreign investment, including pilot programs in Beijing, Shanghai and other regions to expand market access in services such as telecoms, healthcare and education, amid trade tensions with the United States.

Foreign direct investment in China totaled 693.2 billion yuan ($98.84 billion) from January to November this year, down 7.5% from the ‌same period last year, data from the commerce ministry showed.