Saudi E-commerce Set to Reach $44 Bln by 2030

The BIBAN e-commerce gathering in Saudi Arabia (SPA)
The BIBAN e-commerce gathering in Saudi Arabia (SPA)
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Saudi E-commerce Set to Reach $44 Bln by 2030

The BIBAN e-commerce gathering in Saudi Arabia (SPA)
The BIBAN e-commerce gathering in Saudi Arabia (SPA)

Saudi Arabia is working to improve its investment climate for e-commerce, aiming to attract more local and international companies to tap into this rapidly growing market, projected to reach $44 billion by 2030.

Enhancing the e-commerce sector is a key goal of the National Transformation Program, supporting Saudi Arabia’s “Vision 2030.”

This move is vital for boosting the national economy, as the Kingdom ranks among the top 10 fastest-growing countries in e-commerce.

The program plays a crucial role in empowering the private sector and improving government efficiency to drive the country's transformation and meet the vision's targets.

Experts emphasize the importance of e-commerce for large companies, both locally and globally, as they increasingly turn to online platforms to expand their businesses.

Saudi Arabia is creating a competitive environment for both local and foreign companies by adopting new technologies, which is energizing the Saudi market.

Dr. Mohammed bin Duleim Al-Qahtani, an economic analyst and academic at King Faisal University, predicts a 13.5% annual growth in Saudi Arabia's e-commerce sector, surpassing the global average of 11.2%.

Speaking to Asharq Al-Awsat, he expected the sector, currently valued at $21 billion, to exceed $30 billion by 2027 and reach around $44 billion by 2030.

Al-Qahtani highlighted Saudi Arabia’s focus on digital infrastructure and e-commerce, leveraging its strategic location.

He stressed the importance of expanding e-commerce and digital banking, suggesting internationalizing branches of major local banks.

Al-Qahtani also emphasized global efforts, led by G20 nations like Saudi Arabia, to address e-commerce challenges and ensure cyber and financial security.



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.


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.


Turkish Cenbank Says to Maintain Tight Monetary Stance Till Price Stability

Turkish Central Bank Governor Fatih Karahan speaks during a press conference in Istanbul, Türkiye, February 7, 2025. REUTERS/Dilara Senkaya
Turkish Central Bank Governor Fatih Karahan speaks during a press conference in Istanbul, Türkiye, February 7, 2025. REUTERS/Dilara Senkaya
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Turkish Cenbank Says to Maintain Tight Monetary Stance Till Price Stability

Turkish Central Bank Governor Fatih Karahan speaks during a press conference in Istanbul, Türkiye, February 7, 2025. REUTERS/Dilara Senkaya
Turkish Central Bank Governor Fatih Karahan speaks during a press conference in Istanbul, Türkiye, February 7, 2025. REUTERS/Dilara Senkaya

Turkish Central Bank Governor Fatih Karahan on Wednesday said the bank would maintain its tight monetary policy until price stability is achieved.

According to Reuters, He was speaking about Türkiye's monetary policy and macroeconomic outlook during a visit to Bangkok for a meeting of the World Bank.

Here are some details from the governor's presentation:

* Underlying inflation ⁠is moderating despite ⁠elevated energy prices
* Soft demand dampens inflationary impulses from supply shocks
* Proactive measures limit the possible contagion from trade-restricted funds
* Turkish lira preference remains strong under tight monetary policy
* The ⁠tight monetary policy stance, which will be maintained until price stability is achieved, will strengthen the disinflation process through demand, exchange rate, and expectation channels
* The Monetary Policy Committee (MPC) will determine the policy rate by taking into account realized and expected inflation and its underlying trend in a way to ensure ⁠the tightness ⁠required by the projected disinflation path in line with the interim targets
* Monetary policy decisions are made prudently on a meeting-by-meeting basis with a focus on the inflation outlook
* Monetary policy stance will be tightened in case of a significant deviation in inflation outlook from the interim targets