This weekly edition highlights milestones in bilateral ties between Saudi Arabia and key global markets such as China, South Korea, and Norway.
General Business and Economy
FDI net inflows rise 14.5% in Q2
Foreign direct investment (FDI) net inflows increased by 14.5% year-on-year to SR22.8 billion ($6.1 billion) in the second quarter of 2025, reflecting growing investor confidence in the Kingdom’s reform-driven economy and Vision 2030 diversification efforts.
Despite a slight quarterly decline of 3.5%, this increase highlights strong long-term foreign capital interest, supported by regulatory reforms and sector openings in tourism, renewable energy, and technology. Meanwhile, FDI outflows dropped sharply by 74.5% to SR2.1 billion.
Saudi Freezes Rent Increases in Riyadh for 5 Years
Saudi has introduced a significant regulatory reform freezing rent increases for both residential and commercial properties in Riyadh for the next five years, effective from September 25, 2025.
This move, approved by the Council of Ministers and enacted by royal decree following directives from Crown Prince and Prime Minister Mohammed bin Salman, aims to stabilize rising housing costs and ensure fairness between landlords and tenants.
The freeze applies to all rental contracts within Riyadh’s urban boundary, whether existing or new, with rents for vacant properties set at the most recent registered contract value.
Saudi and China Sign 42 Investment Agreements Worth Over $1.74 billion
Saudi Arabia and China finalized 42 investment agreements valued at more than $1.74 billion, covering advanced industries, smart vehicles, energy solutions, medical devices, equipment, and mineral resources.
This development reflects deepening bilateral trade, which exceeded $107.5 billion in 2024, more than doubling in less than ten years.
Saudi Arabia and Norway Forge Stronger Economic Ties at Oslo Business Forum
Saudi Arabia and Norway are set to deepen cooperation in logistics, advanced manufacturing, and digitization after a two-day business forum in Oslo. Led by Saudi Minister of Commerce Majid bin Abdullah Al-Kassabi, the delegation engaged in ministerial and business meetings focused on expanding bilateral trade, which has surged 360% since 2020 to $828 million.
Discussions included workforce skills development, maritime logistics, smart mobility, and industrial decarbonization. Norwegian firms are already active in the Kingdom, with plans to expand further.
Saudi Cultural Sector Attracts 50,000 Investors
Saudi Arabia’s drive to position itself as a global cultural hub is gaining momentum, with the Kingdom hosting more than 50,000 investors and drawing close to half a billion dollars in foreign capital.
According to Minister of Investment Khalid Al-Falih, these funds are being directed primarily into the rapidly expanding culture and entertainment sector, as announced at the first Cultural Investment Conference in Riyadh.
Tourism
Saudi Welcomes 30 Million International Tourists in 2024
Saudi recorded around 30 million international tourists in 2024, marking an 8% increase compared with 2023.
The Kingdom generated SR168.5 billion ($45 million) in spending from inbound tourism, illustrating strong momentum in its Vision 2030-driven travel and tourism sector. This surge places Saudi Arabia at the forefront of global tourism growth, ranking first among G20 countries for growth in international arrivals and second worldwide for inbound tourist growth.
Automotive
TGA Invites Applications from Companies for Operating Autonomous Vehicles
The Transport General Authority (TGA) has opened applications for companies to operate autonomous vehicles as part of its initiative to expand a smart and safe transportation ecosystem. This move follows the launch of a pilot program in Riyadh involving government and private sector partners like Uber and WeRide.
The initiative aims to foster innovation, improve mobility efficiency, and support the Kingdom’s Vision 2030 goals by integrating advanced autonomous vehicle technologies. Both domestic and international companies are invited to participate, signaling Saudi Arabia’s commitment to becoming a leader in autonomous transport solutions
Banking and Finance
Saudi AUM Record: $295bn, Set to Hit $500bn by 2030
Saudi Arabia’s asset management industry has grown at an annual rate of 12% from 2015 to 2024, reaching nearly $295 billion in assets under management (AUM) by Q1 2025, according to S&P Global.
The sector is projected to maintain healthy growth fueled by regulatory reforms, expanding domestic capital markets, and the introduction of diversified investment products like ETFs and real estate investment trusts.
Technology
Saudi Arabia and South Korea Deepen Cooperation in Innovation
Saudi Arabia and South Korea are expanding bilateral cooperation focused on innovation, entrepreneurship, and SME development.
Discussions centered on building entrepreneurial ecosystems and supporting SMEs in emerging sectors, aligning with the broader Saudi-Korean Vision 2030 partnership overseen by the Strategic Partnership Council chaired by the Crown Prince.
Recent collaborations include agreements on space technologies, auditing practices, defense industry quality assurance, and major strategic partnerships with companies like Samsung and Hyundai.
Expansions
World Bank Opens Regional Hub in Riyadh
The World Bank has opened a new regional hub in Riyadh to serve the Middle East, North Africa, Afghanistan, and Pakistan, enhancing its presence in the region. The hub is co-located with the World Bank Group’s Gulf Cooperation Council regional office to bring leadership closer to country teams, clients, and partners.
This move reflects the strengthening relationship between the World Bank and Saudi Arabia, as the lender had earlier signed a strategic agreement to launch a global knowledge hub in Riyadh focused on knowledge exchange, research, and capacity-building.
AngelAi Accelerates Saudi Expansion
AngelAi, the world’s first empathetic AI platform for financial services, is deepening its presence across Saudi Arabia and the Middle East, with the Kingdom serving as the preferred launchpad for long-term partnerships and platform integration.
The platform, which has over 250,000 registered users and has funded over $34 billion in mortgages since 2019, is bringing its transformative AI technology for mortgages and loan services to the Kingdom. Partner banks in Saudi Arabia and the region are set to be the first to offer this AI-driven technology, enabling long-term cash flow, viral user growth, and scalable market expansion.
Green Hydrogen
Saudi–Spanish JV to Build Green Hydrogen Electrode Plant at SPARK
The Saudi green hydrogen sector will be boosted by the construction of an advanced electrode manufacturing plant at King Salman Energy Park (SPARK) in the Eastern Province.
The plant is a joint venture between the Saudi Green Electrodes Consortium for Industry and Spain’s Jolt Solutions, called Jolt Green Chemical Industries. It aligns with Saudi Vision 2030 priorities of green hydrogen, local content development, and technology transfer, supporting the Kingdom’s goal to localize 75% of the energy sector by 2030.
Mining
Saudi Launches Mining Investment Opportunities for French Investors
French companies were pitched investment opportunities in Saudi Arabia’s mining sector as the Kingdom prepares to launch a competitive tender on Sept. 28 for 162 new mining exploration sites.
The Kingdom plans to open more than 50,000 sq. km of mineralized belts for exploration by 2025, offering over 160 new mining exploration sites in key regions like Al-Naqrah and Sukhaybarah Al-Safra.
The estimated mineral wealth is valued at SR9.4 trillion ($2.5 trillion), including critical minerals such as lithium and cobalt, crucial for green energy and electric vehicle industry growth.
Logistics
Saudi Launches 30th Shipping Service of 2025, Linking Jeddah to Port Sudan
Saudi Arabia’s ports authority, Mawani, has launched the 30th new shipping service of the year, introducing the “JSS” direct container service between Jeddah Islamic Port and Port Sudan with a capacity of 1,118 containers.
This initiative supports the Kingdom’s Vision 2030 goal to increase the logistics sector’s GDP contribution from 6 to 10 percent by 2030. The new route enhances trade across the Red Sea, strengthening Saudi Arabia’s role as a key trade hub connecting Asia, Africa, and Europe.