Saudi Arabia Opens Economic Channels in New Regions

The Saudi-Caribbean Investment Forum concluded in Punta Cana, Dominican Republic (Asharq Al-Awsat)
The Saudi-Caribbean Investment Forum concluded in Punta Cana, Dominican Republic (Asharq Al-Awsat)
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Saudi Arabia Opens Economic Channels in New Regions

The Saudi-Caribbean Investment Forum concluded in Punta Cana, Dominican Republic (Asharq Al-Awsat)
The Saudi-Caribbean Investment Forum concluded in Punta Cana, Dominican Republic (Asharq Al-Awsat)

Saudi Arabia continues to open communication channels with new regions and countries within its international economic openness framework.

The Saudi-Caribbean Investment Forum concluded in Punta Cana, Dominican Republic, which was held in partnership with the Caribbean Association of Investment Promotion Agencies (CAIPA).

The forum featured the participation of investment leaders from the public and private sectors in the Kingdom and the Caribbean countries to discuss investment opportunities and developments in priority sectors.

The Investment Forum comes in light of many forums organized by the Ministry of Investment to enhance international investor relations and support attracting foreign investment.

It boosts cooperation and witnesses the signing of multiple memoranda of understanding to explore investment opportunities in various sectors.

Saudi Arabia recorded substantial foreign direct investment (FDI) growth in recent years as the Kingdom's economic reforms provided a wide range of opportunities for international investors, and net foreign direct investment growth rose last year by an unprecedented 257.2 percent.

The Undersecretary of the Ministry of Investment, Bader al-Badr, stressed during the forum that the development of the tourism sector will play a significant role in implementing the national investment strategy and achieving the goals of Vision 2030.

Badr added that the forum provides an opportunity to enhance the ability to exchange knowledge and build partnerships, especially in the world's luxury tourist destinations with high value.

"We look forward to continuing to build relations between the Kingdom and the Caribbean in the coming years," he said.

Total inflows of investments amounted to nearly $20 billion for the current year, the highest rate in a decade, even amid the pandemic lockdowns in 2020.

Foreign direct investment to the Kingdom continued to rise against global declines by 35 percent.

For the first time in three decades, Saudi and Thai companies are discussing economic cooperation opportunities and boosting partnerships in research and industrial consultancy.

Thailand's Deputy Minister of Industry, Gala Pong The Visri, stressed the importance of collaboration with Saudi companies in the mining and technology sector during a meeting in Bangkok.

The minister met with a delegation from the Riyadh Chamber led by Board of Directors Karim al-Enzi.

The minister highlighted opportunities for cooperation in research and consultancy in the industrial sector and other fields.

Last month, the Federation of Saudi Chambers of Commerce (FSCC) and the Cyprus Chamber of Commerce and Industry (CCCI) signed a cooperation agreement to establish Saudi-Cypriot Business Council to enhance trade between the Kingdom and Cyprus and increase the commercial and investment cooperation between the two countries.

The council will be concerned with opening qualitative fields for economic cooperation, facilitating interaction between the Saudi and Cypriot business sectors, overcoming challenges and obstacles, exchanging information on available markets and investment opportunities, and empowering commercial and investment partnerships.

In March, the FSCC hosted at its headquarters in Riyadh a Kenyan trade delegation headed by the President of the Kenya National Chamber of Commerce and Industry.

The Saudi-Kenya Economic Forum dealt with aspects of trade and investment cooperation between the two friendly countries and ways to develop them in various fields to serve their common interests.

During the forum, a memorandum of understanding was signed, which aimed at enhancing economic cooperation, exchanging information on available investment opportunities, enabling commercial and investment partnerships, encouraging participation in exhibitions and forums, and exchanging visits and trade delegations.



Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
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Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)

Moody’s Corporation announced that it has established its regional headquarters in Riyadh, reflecting ongoing commitment to support the development of the Kingdom’s capital markets and economy.

“This investment aligns to the Kingdom's Vision 2030 initiative and underscores its dynamism and growth,” Moody’s said in a statement this week.

The new regional headquarters marks an expansion of Moody’s presence in Saudi Arabia, where the company first opened an office in 2018, and reflects its longstanding commitment to the Middle East.

“The headquarters will strengthen Moody’s engagement with Saudi institutions and enable broader access to Moody’s decision grade data, analytics and insights,” said the statement.

“Our decision to establish a regional headquarters in Riyadh reflects our confidence in Saudi Arabia’s strong economic momentum, as well as our commitment to helping domestic and international investors unlock opportunities with our expertise and insights,” said President and Chief Executive Officer of Moody’s Rob Fauber.

“We are well positioned to provide the analytical capabilities and market intelligence that investors and institutions need to navigate evolving markets across the Middle East,” the statement quoted him as saying.

Mahmoud Totonji will lead the regional headquarters as General Manager.


Saudi Arabia Launches First Endowment Fund for Environmental, Water and Agricultural Sustainability

The launch of the Namaa Endowment Fund (Asharq Al-Awsat)
The launch of the Namaa Endowment Fund (Asharq Al-Awsat)
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Saudi Arabia Launches First Endowment Fund for Environmental, Water and Agricultural Sustainability

The launch of the Namaa Endowment Fund (Asharq Al-Awsat)
The launch of the Namaa Endowment Fund (Asharq Al-Awsat)

Saudi Arabia has launched its first endowment fund dedicated to advancing environmental, water and agricultural sustainability, reinforcing efforts to strengthen the Kingdom’s non-profit sector and long-term development.

Minister of Environment, Water and Agriculture Eng. Abdulrahman Al-Fadhli on Tuesday inaugurated the Namaa Endowment Fund at the ministry’s headquarters, in the presence of senior officials and stakeholders.

The fund is designed to support economic and social development goals, address community needs, increase the non-profit sector’s contribution to GDP, and promote sustainable management of environmental, water and agricultural resources.

Al-Fadhli said the fund represents a new model of institutional endowment work and a practical mechanism to expand developmental impact while ensuring the sustainability of non-profit initiatives.

Developed in partnership with the General Authority for Awqaf, the fund aims to build assets commensurate with its ambitions, enabling higher returns and a wider impact over the long term.

It will pursue carefully structured investments that balance financial performance with developmental outcomes, with the potential to own or benefit from real estate assets that can be used by non-profit organizations.

Encouraging Private-Sector Participation

Al-Fadhli added that the ministry, in cooperation with the General Authority for Awqaf, the Capital Market Authority and AlAhli Capital, will support the fund and encourage contributions from the private sector, business leaders and the wider public.

Contributions will be made through a licensed digital platform under strict financial governance. He called on all segments of society to contribute in support of sustainable development across the environment, water and agriculture sectors.

Namaa will finance endowment initiatives within the ministry’s ecosystem, including the non-profit institutions Reef, Morooj and Saqaya. Its focus areas include water provision and conservation, afforestation, biodiversity protection, vegetation cover, the circular economy, sustainable agriculture and irrigation, and reducing food loss and waste.

Emad Alkharashi, Governor of the General Authority for Awqaf, announced an initial contribution of SAR100 million, describing it as a foundation for a sustainable endowment model.

He said the fund combines the legacy of endowments with modern investment practices to protect natural resources, strengthen food security and ensure lasting developmental impact.

Alkharashi added that the partnership with the ministry maximizes results and positions the fund as a model for directing endowments toward high-impact, long-term priorities through a transparent, well-governed institutional framework.


Makkah Gears Up for Ramadan with Tourism Drive, Record Hospitality Growth  

Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)
Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)
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Makkah Gears Up for Ramadan with Tourism Drive, Record Hospitality Growth  

Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)
Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)

Saudi Arabia’s Ministry of Tourism has raised the readiness of Makkah’s hospitality sector to its highest level ahead of the holy month of Ramadan, stressing that serving pilgrims and visitors remains a top national priority.

Makkah is preparing to receive worshippers and visitors amid a marked expansion in hospitality capacity. The city now has more than 2,200 licensed accommodation facilities, reflecting growth of 35 percent over the past year. The number of licensed hotel rooms has exceeded 380,000, up 25 percent, while total domestic and inbound tourism spending is projected to surpass SAR 143 billion ($38.1 billion) in 2025.

The wider Makkah region recorded unprecedented performance indicators last year, both in visitor numbers and tourism spending, underscoring sustained growth and operational readiness.

Total domestic and international visitors exceeded 50 million, marking a 14 percent increase compared with 2024.

Tourism Minister Ahmed Al-Khateeb announced the figures during an annual inspection tour on Tuesday, stressing that the indicators reflect a major expansion in accommodation capacity and record growth in visitor numbers.

The tour included inspections of temporary lodging facilities designated for pilgrims, part of a proactive plan to increase capacity during peak seasons, alongside early preparations for the upcoming Hajj.

Vision 2030 targets surpassed

Official data has shown that Saudi Arabia has exceeded its Vision 2030 targets for the Umrah. The number of pilgrims arriving from abroad rose from 8.5 million in 2019 to more than 18 million in 2025, surpassing the original goal of 15 million by 2030.

A number of hotels surrounding the Grand Mosque in Makkah. (General Authority for Awqaf)

Service quality indicators improved as well, with pilgrim satisfaction reaching 94 percent, exceeding Vision 2030 benchmarks.

Workforce development kept pace with demand, as the number of licensed tour guides rose to more than 980, a 23 percent increase.

Masar Mall project

Al-Khateeb announced a joint financing agreement between the Tourism Development Fund and the Arab National Bank with Hamat Holding to support the Masar Mall project. The development carries a total cost of SAR 936 million (about $250 million).

The project is expected to become the largest shopping center in Makkah with the capacity to accommodate around 20 million visitors annually.

Its location near the Haramain High-Speed Railway station and a direct pedestrian link to the Grand Mosque are expected to strengthen the city’s commercial and tourism infrastructure.

Jeddah: Gateway to pilgrims

Meanwhile, Jeddah continues to consolidate its position as a complementary destination to Makkah and a primary gateway for pilgrims, while also expanding its role as a coastal tourism hub.

The city welcomed more than 13 million domestic and international visitors in 2025, a 10 percent increase from 2024. Tourism spending reached SAR 28 billion ($7.47 billion), up 6 percent year on year.

Jeddah’s hospitality sector also expanded, with more than 500 licensed facilities and over 33,000 licensed rooms.

The city is currently developing 46 tourism projects valued at SAR 21 billion ($5.6 billion) and expected to add more than 11,000 hotel rooms and further strengthen its tourism infrastructure and economic value.