Saudi Arabia has achieved record growth in indicators of economic activities in promising sectors during the first quarter of this year, one of the opportunities launched by Vision 2030 for the local and foreign business sectors.
According to a recent report by the Ministry of Commerce, a copy of which was obtained by Asharq Al-Awsat, commercial registers of the video game sector grew 92 percent during the first quarter of this year, bringing the total to more than 1,600.
Last year, Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, launched the National Gaming and Esports Strategy, kicking off a new era for the Kingdom to play a pioneering role in the sector and making it a global hub for the gaming industry by 2030.
It also serves the Vision 2030 objectives, which aim to diversify Saudi Arabia’s economy, create new job opportunities in different industries and provide world-class entertainment to residents and visitors.
The Saudi government established a specialized authority that focused on developing Artificial Intelligence and the data sector. It reported a 74 percent growth in commercial registers in the sector during the first quarter of 2023, bringing the total to more than 3,200.
According to the report, commercial registers in the computer programming sector increased by 30 percent, bringing the total number to 11,800.
In market research and opinion polls, commercial registers in this sector increased by 95 percent during the first quarter of 2023, with more than 200.
The report revealed that the sector of recreation increased by 18 percent in the first quarter of the year, with a total of more than 2,800 commercial registers.
The film industry witnessed a 39 percent increase in exported commercial registers, bringing the total number to more than 1,500.
On Monday, the Ministry of Commerce issued the first quarterly bulletin on the performance of the business sector and its developments in the Kingdom during the first quarter of 2023.
The bulletin revealed the most prominent indicators of growth in various activities and sectors and the developments of regulations during the year.
It also reported on the consumer protection system, the commercial register, trade names, the family business charter, and the corporate governance regulations.
The bulletin showed the volume of growth in the records of institutions and companies, the highest sectors that witnessed remarkable growth, the distribution of exported records to Saudi regions, indicators of economic activities in promising sectors, and the growth of e-commerce in the Kingdom.
It also shed light on businesswomen, funding of small and medium enterprises, the developments in the transformation of institutions into companies according to the new corporate system, and the benefits of recently issued laws and regulations, including commercial treatments and franchising, and the Saudi building code.
