عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Arabia: 20 Economic Zones Aimed to Attract National, Foreign Investments

Saudi Minister of Investment Eng. Khaled Al-Falih addressing the conference on Thursday (Asharq Al-Awsat)
Saudi Minister of Investment Eng. Khaled Al-Falih addressing the conference on Thursday (Asharq Al-Awsat)
TT
TT

Saudi Arabia: 20 Economic Zones Aimed to Attract National, Foreign Investments

Saudi Minister of Investment Eng. Khaled Al-Falih addressing the conference on Thursday (Asharq Al-Awsat)
Saudi Minister of Investment Eng. Khaled Al-Falih addressing the conference on Thursday (Asharq Al-Awsat)

Saudi Minister of Investment Eng. Khaled Al-Falih said that the Kingdom has prepared regulatory legislation and identified 20 economic zones, six of which are in Riyadh, to promote an attractive environment for Saudi and foreign investors.

He also stressed that the private sector would be a key player in the development strategy for the city of Riyadh, revealing “very profitable opportunities for those who invest in the new strategy.”

A dialogue session entitled “The Future of Riyadh” was held within the Future Investment Initiative conference on Thursday, during which Al-Falih said that the integration between regions and projects in the Kingdom would be achieved by enabling the airports to link the logistical areas.

He added that his country has succeeded in maintaining the flexibility of the local economy, despite the outbreak of the Covid-19 pandemic, which strengthened local and foreign investors’ confidence in the Kingdom.

For his part, Fahd Al-Rasheed, CEO of the Royal Commission for Riyadh, said that Saudi Arabia would soon announce the Riyadh strategy, revealing that the Middle East region, and the Kingdom in particular, would be a future hub for investments from around the world.

“Riyadh’s development strategy will make the city completely different from its current situation,” he said, noting that the authority was ready, through the strategic plan, to deal with the significant growth expected in the future.

Most Viewed

 
 
Business

Saudi Arabia to Host World Economic Forum Global Collaboration and Growth Meeting in April

The Kingdom of Saudi Arabia will host the World Economic Forum (WEF) Global Collaboration and Growth Meeting on April 22-23, 2026 - SPA
The Kingdom of Saudi Arabia will host the World Economic Forum (WEF) Global Collaboration and Growth Meeting on April 22-23, 2026 - SPA
TT
TT

Saudi Arabia to Host World Economic Forum Global Collaboration and Growth Meeting in April

The Kingdom of Saudi Arabia will host the World Economic Forum (WEF) Global Collaboration and Growth Meeting on April 22-23, 2026 - SPA
The Kingdom of Saudi Arabia will host the World Economic Forum (WEF) Global Collaboration and Growth Meeting on April 22-23, 2026 - SPA

The Kingdom of Saudi Arabia will host the World Economic Forum (WEF) Global Collaboration and Growth Meeting: "Building Common Ground and Reviving Growth" in Jeddah on April 22-23, 2026.

The announcement came during the closing day of the 56th Annual Meeting of the forum in Davos, Switzerland.

Minister of Economy and Planning Faisal Alibrahim confirmed the details of the regular high-level WEF meeting, announced at the 2025 WEF annual meeting, SPA reported.

In his closing remarks at the forum, the minister stressed the need for sustained dialogue to accelerate global growth, calling on participants to engage actively in the World Economic Forum's Global Collaboration and Growth meeting, set to take place in Jeddah in April.

He noted that the meeting will build on the momentum generated by the World Economic Forum's Special Meeting hosted by Riyadh in 2024, affirming that the Kingdom has emerged as a global capital of pragmatism and consequential decision-making.

President of WEF Børge Brende highlighted the forum's deepening engagement with the Kingdom. He said: "We are pleased to return to Saudi Arabia in 2026 to carry forward the conversations started at our annual meeting, creating space for leaders to work together, build trust, and ensure dialogue leads to meaningful collaboration and action."

The announcement of the Kingdom's hosting of the World Economic Forum Global Collaboration and Growth Meeting comes as a continuation of the significant success achieved at the forum's special meeting hosted by Riyadh in April 2024, reinforcing Saudi Arabia's position as a reliable international partner in promoting economic stability and enhancing cooperation between developed and developing economies to confront shared global challenges.

Business

First SDRPY Oil Derivatives Grant Arrives in Yemen's Socotra

The shipment is part of a newly announced SAR1.9 billion economic support package comprising 28 development projects - SPA
The shipment is part of a newly announced SAR1.9 billion economic support package comprising 28 development projects - SPA
TT
TT

First SDRPY Oil Derivatives Grant Arrives in Yemen's Socotra

The shipment is part of a newly announced SAR1.9 billion economic support package comprising 28 development projects - SPA
The shipment is part of a newly announced SAR1.9 billion economic support package comprising 28 development projects - SPA

The first shipment of the Oil Derivatives Grant from the Saudi Development and Reconstruction Program for Yemen (SDRPY) arrived in Socotra on Friday.

The shipment will be providing fuel for electricity stations in Hadibu, Qalansiyah, Muri, and Alamah and eventually serving over 70 power plants across all Yemeni governorates.

The shipment is part of a newly announced SAR1.9 billion economic support package comprising 28 development projects.

According to SPA, under an agreement with the Yemeni Ministry of Electricity and Energy, SDRPY is providing 339 million liters of diesel and fuel oil valued at $81.2 million, purchased through the Yemeni petroleum company PetroMasila.

This initiative aims to stabilize the electricity sector and support vital infrastructure, including hospitals, schools, and airports, while stimulating economic growth.

The current grant follows previous Saudi fuel support totaling $180 million in 2018, $422 million in 2021, and $200 million in 2022.

Business

EU to Suspend 93 billion Euro Retaliatory Trade Package against US for 6 Months

A container ship is seen at the loading terminal "Altenwerder" in the port of Hamburg, Germany, February 17, 2025. REUTERS/Fabian Bimmer
A container ship is seen at the loading terminal "Altenwerder" in the port of Hamburg, Germany, February 17, 2025. REUTERS/Fabian Bimmer
TT
TT

EU to Suspend 93 billion Euro Retaliatory Trade Package against US for 6 Months

A container ship is seen at the loading terminal "Altenwerder" in the port of Hamburg, Germany, February 17, 2025. REUTERS/Fabian Bimmer
A container ship is seen at the loading terminal "Altenwerder" in the port of Hamburg, Germany, February 17, 2025. REUTERS/Fabian Bimmer

The European Commission said on Friday it would propose suspending for another six months an EU package ​of retaliatory trade measures against the US worth 93 billion euros ($109.19 billion) that would otherwise kick in on February 7.

The package, prepared in the first half of last year when the European Union was negotiating ‌a trade deal ‌with the United States, ‌was ⁠put ​on ‌hold for six months when Brussels and Washington agreed on a joint statement on trade in August 2025.

US President Donald Trump's threat last week to impose new tariffs on eight European countries ⁠over Washington's push to acquire Greenland had made ‌the retaliatory package a ‍handy tool for the ‍EU to use had Trump followed ‍through on his threat.

"With the removal of the tariff threat by the US we can now return to the important ​business of implementing the joint EU-US statement," Commission spokesman Olof Gill said, Reuters reported.

The ⁠Commission will soon make a proposal "to roll over our suspended countermeasures, which are set to expire on February 7," Gill said, adding the measures would be suspended for a further six months.

"Just to make absolutely clear -- the measures would remain suspended, but if we need them at any point in ‌the future, they can be unsuspended," Gill said.