Abdulaziz bin Salman: KSA Keen on Achieving Concept of Sustainable Development

Minister of State for Energy Affairs and Minister of Housing signing a memorandum of understanding at the opening of the forum. Badr al-Ahmad, Asharq Al-Awsat
Minister of State for Energy Affairs and Minister of Housing signing a memorandum of understanding at the opening of the forum. Badr al-Ahmad, Asharq Al-Awsat
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Abdulaziz bin Salman: KSA Keen on Achieving Concept of Sustainable Development

Minister of State for Energy Affairs and Minister of Housing signing a memorandum of understanding at the opening of the forum. Badr al-Ahmad, Asharq Al-Awsat
Minister of State for Energy Affairs and Minister of Housing signing a memorandum of understanding at the opening of the forum. Badr al-Ahmad, Asharq Al-Awsat

Saudi Minister of State for Energy Affairs Prince Abdulaziz bin Salman bin Abdulaziz, who is also President of the Executive Committee of the Saudi Energy Efficiency Center, has assured the Kingdom’s keenness on achieving sustainable development in its three dimensions, economic, social and environmental.

He pointed out that the ministry of energy, industry, and mineral resources and other relevant agencies have efficiently participated over the past three decades in a number of sustainable development meetings.

“I am pleased to express my gratitude to the organizers of the forum, wishing it will contribute to achieving the goals in the field of housing sustainability and improving the quality of life for individuals and the society,” said Prince Abdulaziz in his speech Monday during the opening session of the Sustainable Housing Forum, which was organized by the Ministry of Housing in Riyadh.

The sustainability of cities and communities is one of the 17 sustainable development goals adopted in 2016 at the United Nations Summit on Sustainable Development.

It was linked to the other goals, particularly the seventh goal on clean energy, the eighth goal on decent work and economic growth and the 13th goal on climate change.

He added that Saudi Arabia, represented by the ministry of energy, has joined many global initiatives to contribute to the achievement of sustainable development goals, the most important of which are the Innovation Initiative, the Global Methane Initiative and the Clean Energy Ministerial (CEM) forum initiative.

Prince Abdulaziz pointed out the establishment of the Saudi Center for Energy Efficiency, which sought to cooperate with the Ministry of Housing to develop and enhance joint coordination through the development of programs and mechanisms that contribute to rationalize and raise the efficiency of energy consumption in urban plans, units, buildings and residential and commercial complexes.

He said that a Memorandum of Understanding between the Ministry of Housing and the Saudi Energy Efficiency Center has been signed, in order to ensure the application of the outcomes of Saudi Energy Efficiency Program in projects implemented, supervised, funded, or supported by the ministry.



Foreign Start-ups Double in Saudi Market

Saudi Arabia’s LEAP conference becomes top magnet for tech start-ups
Saudi Arabia’s LEAP conference becomes top magnet for tech start-ups
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Foreign Start-ups Double in Saudi Market

Saudi Arabia’s LEAP conference becomes top magnet for tech start-ups
Saudi Arabia’s LEAP conference becomes top magnet for tech start-ups

The number of foreign start‑ups holding Saudi Arabia’s “Riyadi” entrepreneurship license has more than doubled to 550 by mid‑2025, up 118 % from the same period a year earlier, the Investment Ministry said.

The Riyadi permit lets overseas founders launch and scale technology and innovation‑focused companies in the kingdom. Officials say the surge reflects a government push to position Saudi Arabia as the Gulf’s start‑up hub by easing market entry and offering flexible regulation.

The General Authority for Small and Medium Enterprises (Monsha’at) has meanwhile issued 364 licenses for business incubators and accelerators, helping international entrepreneurs develop prototypes, find mentors and connect with investors.

Flagship tech gatherings such as Biban and LEAP in Riyadh – along with Saudi delegations to global events including Web Summit, VivaTech and Slush – have burnished the kingdom’s credentials as a magnet for venture capital and talent, the ministry said.

The momentum comes as Riyadh chases the economic‑diversification goals of its Vision 2030 plan. The government is targeting $100 billion a year in foreign direct investment (FDI) by 2030.

Overall investment licensing jumped 67.7 % last year. In the fourth quarter of 2024 alone, Saudi Arabia issued 4,615 licenses, up 59.9 % year on year.

Net FDI inflows moderated to 16.0 billion riyals ($4.27 billion) in the third quarter of 2024, 24 % lower than a year earlier but 37 % higher than the previous quarter’s 11.7 billion riyals ($3.12 billion), according to General Authority for Statistics data.

Saudi officials say the Riyadi license is integral to diversifying the economy, fostering innovation and embedding an entrepreneurial culture.