Saudi Roundup: Expanding Italy & Germany Trade Corridors

This week's Saudi Roundup highlights recent strategic partnerships with global markets like Germany and Italy and a wave of international business expansions.

Financial Markets

Foreign Investors Pour SR5 Billion Into Saudi Stocks As Market Opens

Foreign investors made net purchases of around SR5 billion ($1.33 billion) in Saudi stocks during January, marking the largest monthly buying since 2022, excluding Aramco's secondary offering in June 2024. Since the market-opening announcement on January 6, Saudi stocks rose by approximately 10.6% by month's end. Foreign investors accounted for 41.7% of total market purchases, compared with just 5.6% in 2018 before joining emerging-market indices.

Energy & Sustainability

Acwa Signs Green Ammonia Corridor Agreement With Germany

Saudi utility giant Acwa has signed a memorandum of understanding with Energie Baden-Württemberg AG, Rostock Port, and Verbundnetz Gas AG to establish an ammonia export corridor from the Kingdom to Germany. The corridor will extend green ammonia from Acwa's project in Yanbu to Germany's Rostock Port, where VNG will convert ammonia to green hydrogen for injection into the European country's national core network.

Saudi-German 21st Joint Commission Strengthens Bilateral Partnership

Saudi Energy Minister Prince Abdulaziz bin Salman and Germany's Federal Minister for Economic Affairs and Energy Katharina Reiche co-chaired the 21st session of the Saudi–German Joint Commission on Economic and Technical Cooperation in Riyadh. Several agreements and memoranda of understanding were signed between public and private sector entities from both countries. The German delegation also visited King Abdullah University of Science and Technology (KAUST). The visit took place on the sidelines of the Saudi–German Innovation Summit.

Retail & Consumer Goods

Italian Cosmetics Exports to Saudi Arabia Surpass SAR 1.62bn

The Italian Ambassador to Saudi Arabia, Carlo Baldocci, revealed that Italian cosmetics exports to the Kingdom continued to grow in 2025, surpassing the $430 million recorded in 2024, with fragrances accounting for nearly half of this value and achieving an average annual growth rate of 25% over the past five years. Currently, 3,000 Italian workers operate in Saudi Arabia, with numbers increasing monthly, particularly in the oil and gas, machinery, food, and cosmetics sectors.

Business Expansions

OCP Maintenance Solutions Opens First Saudi Subsidiary In Riyadh

Morocco’s OCP Maintenance Solutions, a subsidiary of the OCP Group specializing in industrial maintenance, has opened its first subsidiary in Saudi Arabia, operating under the name I-Sense International. The opening marks a key milestone in the group's growth strategy and export of its expertise to capital-intensive industrial ecosystems.

The expansion reinforces OCP Maintenance Solutions' ambition to establish itself as a global leader in industrial maintenance while contributing to the international visibility of industrial expertise developed within the OCP Group.

JPLoft Expands Digital Platform Operations To Saudi Arabia

Denver-based JPLoft has announced the expansion of its business operations in Saudi Arabia, aligning its digital platform capabilities with the Kingdom's long-term transformation goals under Vision 2030. The company will work directly with Saudi businesses, startups, and institutions, focusing on mobile platforms, data-driven systems, and intelligent digital solutions.

JPLoft offers full product lifecycle support, including product discovery, user experience design, backend engineering, quality assurance, and post-launch optimization.

Rosond Announces Strategic Localization Agreement For Drill Rig Manufacturing

Rosond South Africa, Rosond Arabia, and Bin Harkil Co. Ltd. have signed a strategic agreement to localize manufacturing and assembly of at least 30% of Rosond exploration drill rig structures and components within Saudi Arabia. The agreement, signed at the Heavy Equipment Connect Forum & Expo, will be executed in partnership with Bin Harkil Metal Industries for fabrication, assembly, integration, and technical support.

The initiative supports Saudi Arabia's Vision 2030 localization ambitions by strengthening domestic capital equipment manufacturing capability within the mining services sector.

Bariq Expands Recycling Operations To Jeddah

Bariq has announced the expansion of its operations into Jeddah, functioning under the name Creative Recycling. The Jeddah-based facility will produce high-quality recycled pellets and flakes, supported by advanced technologies and modern processing systems designed to meet international quality standards.