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Al-Swaha: SEZ to Promote Saudi Arabia's Regional Leadership as Global Investment Hub

Al-Swaha: SEZ to Promote Saudi Arabia's Regional Leadership as Global Investment Hub
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Al-Swaha: SEZ to Promote Saudi Arabia's Regional Leadership as Global Investment Hub

Al-Swaha: SEZ to Promote Saudi Arabia's Regional Leadership as Global Investment Hub

Saudi Minister of Communications and Information Technology Eng. Abdullah Al-Swaha lauded the launching of the Cloud Computing Special Economic Zone (SEZ ), expressing his gratitude to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and the Crown Prince for launching it along other three zones across the Kingdom.

Al-Swaha said that the Cloud Computing SEZ will promote Saudi Arabia's position and regional leadership as a global investment hub, opening new perspectives for development and supporting the growth of the digital economy.

"The Cloud Computing SEZ, along with the other three zones, will diversify the national economy and increase non-oil resources and investment in emerging companies, thereby training and hiring national capacities and supporting entrepreneurs through cloud services, in addition to supporting innovation and academic research and the establishment of a regional developers community," state news agency SPA quoted Al-Swaha as saying.

Also, Governor of Communications, Space and Technology Commission (CST) Dr. Mohammed Altamimi thanked "the wise leadership for launching the zone to be governed and managed by CST in collaboration with the Economic Cities and Special Zones Authority (ECZA) and success partners," affirming that the zone aims to attract global cloud computing companies, which will play a key role in stimulating the adoption of modern technologies and Industry X.O.

"The zone will promote the Kingdom's reputation as an investment destination for technology companies in the region and as a vital centre with flexible systems, competitive advantages and special systems and regulations. The incentives and exemptions offered to companies will maximize the influence of the presence of small companies and establish an ecosystem of tech companies and jobs in specific tech majors such as AI, Machine Learning, quantum computing, Blockchain and other advanced technologies."

According to SPA, Saudi Arabia is one of the first countries to adopt specific regulations and regulatory frameworks for cloud computing providers, which aims to encourage the public and private sectors to adopt Cloud services rather than traditional IT solutions.

CST's role lies in regulating the ICT sector in Saudi Arabia by implementing policies, regulations, and approved programs to develop IT and Emerging Technologies, putting the appropriate procedures and proposing related regulations, and coordinating with the competent entities to adopt them. The commission ensures a competitive environment and issues the required licenses according to the Kingdom's regulations and conditions.

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Business

Saudi TAQA Expands Int’l Reach From Azerbaijan, Kazakhstan to Syria

A technician monitors TAQA’s field operations. (Company handout)
A technician monitors TAQA’s field operations. (Company handout)
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Saudi TAQA Expands Int’l Reach From Azerbaijan, Kazakhstan to Syria

A technician monitors TAQA’s field operations. (Company handout)
A technician monitors TAQA’s field operations. (Company handout)

Saudi Arabia’s Industrialization and Energy Services Company (TAQA) is expanding in Azerbaijan, Kazakhstan and Syria as it develops the well solutions and specialized technologies driving its growth.

The company, 54% owned by the Public Investment Fund, uses Saudi Arabia as its main operating hub and launchpad for international expansion.

Chief Executive Adel Al-Ghadhban told Asharq Al-Awsat in exclusive comments during the World Petroleum Congress that TAQA was building its presence in Azerbaijan and Kazakhstan and establishing operations in Syria.

It has set up a legal entity in Azerbaijan and qualified as a supplier to state-owned SOCAR. In Kazakhstan, registration and qualification procedures have begun with several customers.

Cooperation with SOCAR covers opportunities in oil and gas field operations and services, as well as 'well services and technologies,' Al-Ghadhban said.

TAQA has moved into practical steps to establish itself in Azerbaijan, completing incorporation procedures and registering as a qualified supplier.

Asked about project budgets and timelines, he said the memorandum of understanding set a framework for cooperation, separate from any contracts or projects that might follow. TAQA prefers to announce each project once its scope is finalized and commercial arrangements are approved.

The Caspian region and Central Asia offer significant growth opportunities, he said. TAQA’s international strategy targets markets where it can add value and build sustainable businesses, rather than expand for geographic reach alone.

Well solutions drive growth

Well solutions are TAQA’s main growth engine, Al-Ghadhban said. They span drilling, well completion and intervention, well testing, wireline services, cementing, stimulation and early production facilities.

The company performed strongly in 2025 in areas including well testing, completion and wireline services. It also advanced the development and commercialization of drilling, completion and well intervention technologies.

TAQA is integrating its services and technologies to cover multiple stages of a well’s life cycle. The focus is on directing investment toward higher-value services, bringing technologies to market faster and expanding selectively into markets offering profitable, sustainable growth.

Digitalization and innovation

TAQA sees innovation and advanced technologies as pillars of growth, supported by its innovation center in Dhahran Techno Valley and specialized centers developing drilling, completion and well intervention products.

Development starts with identifying customers’ challenges, Al-Ghadhban said. The company then develops, tests and qualifies solutions in the field before turning them into products and technologies that can be scaled commercially.

Its digitalization efforts focus on data, artificial intelligence and automation in research and development projects, working with customers, industry partners and academic institutions.

Technology investments aim to make operations more efficient, improve well performance and reduce time, total costs and operational risks for customers.

TAQA prefers to withhold specific figures for future investment until plans and budgets are approved, he said.

Supply chain resilience

Geopolitical challenges have sharpened TAQA’s focus on resilience, operational discipline and cost competitiveness as it faces pressures on operating costs and supply chains, Al-Ghadhban said.

The company has updated its operating model to clarify responsibilities, speed up decisions and simplify processes. It has also improved the use of assets and resources and strengthened supplier partnerships.

For some product lines, TAQA has diversified its sources of production and research and development to strengthen supply chain resilience and manufacturing efficiency.

Efficiency means more than cutting expenses, Al-Ghadhban said. It also requires improving how work is carried out and capital is allocated, while balancing competitiveness and service continuity with safety, quality and reliability.

About TAQA

Founded in 2003 and headquartered in Dhahran, TAQA provides integrated oil and gas well solutions. Its services include drilling, well completion and intervention, well testing, wireline logging, cementing, hydraulic fracturing and well integrity.

The company operates in more than 20 countries and employs more than 5,500 people. Its portfolio spans drilling, geophysical services and surveying, with companies including Arabian Drilling, the Arabian Geophysical and Surveying Company (ARGAS).

Business

Saudi Arabia Issues 438 Industrial Licenses Worth $1.28 Billion in July

File photo of the Saudi capital Riyadh - File/AAWSAT
File photo of the Saudi capital Riyadh - File/AAWSAT
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Saudi Arabia Issues 438 Industrial Licenses Worth $1.28 Billion in July

File photo of the Saudi capital Riyadh - File/AAWSAT
File photo of the Saudi capital Riyadh - File/AAWSAT

Saudi Arabia's Ministry of Industry and Mineral Resources issued 438 new industrial licenses in July 2026, representing investments of approximately SAR 4.82 billion ($1.28 billion), while 189 factories began actual production during the same month, with investments totaling SAR 1.95 billion ($520 million), according to data from the ministry's National Industrial and Mining Information Center.

Ministry spokesperson Jarrah Al-Jarrah said the new industrial licenses are expected to create more than 3,708 jobs across various regions of the Kingdom.

He added that the factories that began production in July created 2,807 new jobs, reflecting the continued expansion of Saudi Arabia's industrial base and the growing number of factories entering operation.

The Ministry of Industry and Mineral Resources publishes monthly industrial activity indicators through the National Industrial and Mining Information Center to track new licenses, investment volumes and factories beginning production, as well as developments in the Kingdom's industrial sector.

Business

GCC Chief Emphasizes Gulf Integration, Diversified Partnerships at IMF MENAP Meeting

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi - SPA
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi - SPA
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GCC Chief Emphasizes Gulf Integration, Diversified Partnerships at IMF MENAP Meeting

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi - SPA
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi - SPA

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi underscored that GCC economies have demonstrated strong resilience against global economic shocks and geopolitical shifts, supported by solid fundamentals, substantial financial reserves, robust banking sectors, and prudent fiscal management.

Albudaiwi delivered his remarks during a meeting of the finance ministers and central bank governors of the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region with International Monetary Fund (IMF) Managing Director Kristalina Georgieva, held on the sidelines of the 2026 IMF and World Bank Group Annual Meetings in Bangkok, SPA reported.

Albudaiwi pointed out that recent geopolitical developments have impacted global energy production, maritime shipping, and trade flows, demonstrating the close link between Gulf stability and broader global economic security. He noted that disruptions along key energy corridors and trade routes inevitably reverberate across international markets.

Albudaiwi affirmed that the GCC economies possess the capacity to sustain recovery and growth through 2027 and beyond, propelled by strategic investments and non-oil diversification. He emphasized the necessity of balancing short-term economic responses with long-term fiscal sustainability, maintaining adequate buffers to mitigate future market volatility.

Highlighting future growth sectors, the secretary-general cited advanced industries, digital infrastructure, artificial intelligence, and human capital development, alongside empowering the private sector to expand its role in global value chains.

Concluding his address, Albudaiwi stressed that long-term resilience requires advancing Gulf economic integration, upgrading logistical corridors, and diversifying international partnerships to transform ongoing global challenges into sustainable economic opportunities.