Saudi Roundup: Foreign Business Entries & AI Infrastructure Lead the Week

This week's Saudi Roundup highlights 1,275 new foreign establishments in October, up to SAR 2.5 billion in AI infrastructure financing, and new private sector partnerships for Makkah's transport network.

General Economy & Business

Saudi Arabia Records 1,275 New Foreign Companies in October

Saudi Arabia attracted 1,275 new foreign establishments in October, with declared capital totaling SAR 10.3 billion ($2.7 billion), according to the Federation of Saudi Chambers' first report tracking foreign business entries into the Kingdom. The establishments represent investors from 45 countries, with manufacturing accounting for 35 percent, construction and building for 22 percent, and information and communications technology for 10 percent. The federation noted that the figures reflect declared capital and do not necessarily represent actual foreign direct investment flows, and plans to publish the report monthly.

PIF Raises $3 Billion in SACE-Backed Financing to Expand Business Ties With Italy

Saudi Arabia's Public Investment Fund has raised the equivalent of $3 billion in credit facilities guaranteed by SACE, Italy's export credit agency, to support procurement from Italian suppliers and expand business cooperation between the two countries. The financing comprises a $1.78 billion tranche and a €1.035 billion ($1.16 billion) green tranche, provided by a syndicate of 25 international banks.

AI and Tech

Infra and HUMAIN Sign Financing Agreements of Up to SAR 2.5 Billion

The National Infrastructure Fund (Infra) and HUMAIN, a PIF company, have signed two financing agreements totaling up to SAR 2.5 billion (approximately $667 million) to support AI computing deployment and power infrastructure in Saudi Arabia. A facility of up to SAR 1.1 billion will fund GPUs representing approximately 25 MW of IT load, while a second facility of up to SAR 1.4 billion will finance substations, transmission infrastructure and grid connections designed to support up to 1 GW of future IT capacity. The agreements are the first transactions under Infra's AI Data Center Financing Program.

Financial Services

Barclays Opens New Office in Riyadh and Appoints Saudi CEO

Barclays has opened its new office in Riyadh's King Abdullah Financial District to grow its investment banking and global markets businesses in Saudi Arabia, following its operational license from the Capital Market Authority. The bank has appointed Majed Al Hassoun as Chief Executive Officer and Head of Investment Banking, Barclays Capital Saudi, building on the regional headquarters license it secured in 2025.

Labor Market

Saudization Rate Rises to 35% for 94 Technical Engineering Professions

The Ministry of Human Resources and Social Development, in partnership with the Ministry of Municipalities and Housing, will raise the Saudization rate for 94 technical engineering professions to 35 percent, effective May 9, 2027. The requirement applies to private sector establishments employing five or more workers in the targeted professions, which include civil, electrical and mechanical engineering technicians, and builds on the 30 percent rate in force since July 27, 2025. The ministry has published a procedural guide and offers support programs for recruitment, training and job stability.

Transport & Infrastructure

Saudi Arabia Signs SAR 5.664 Billion in Agreements for Makkah's Wasel Al-Haram Project

The General Transport Center, the executive arm of the Royal Commission for Makkah City and Holy Sites, has signed investment agreements worth SAR 5.664 billion ($1.51 billion) with private sector partners for the Wasel Al-Haram transport project. Structured as three public-private partnership packages financed entirely by the private sector, the project includes 19 stations and parking facilities across seven corridors and a fleet of 3,200 buses, and is expected to serve around 205 million passengers annually.

Tourism

Saudi Arabia Expands Tourist Visa Eligibility to Four New Countries

Saudi Arabia has expanded its tourist visa eligibility to citizens of Mexico, North Macedonia, Bosnia and Herzegovina, and Serbia, according to the Ministry of Foreign Affairs. The visa allows visitors to attend events, perform Umrah, participate in exhibitions and conferences, and visit relatives and friends, with eVisas, visas on arrival and transit or stopover visas available subject to eligibility requirements.

Agriculture & Food

Foundation Stone Laid for 500,000-Tonne Agricultural Processing Facility in Riyadh

Minister of Environment, Water and Agriculture Abdulrahman Al-Fadhli has laid the foundation stone for an agricultural produce processing and marketing facility in Riyadh, developed by Leen Alkhair Trading Co. With an annual production capacity of more than 500,000 tonnes, the facility will process, manufacture and market fruits and vegetables, and includes a smart warehouse with a capacity of 7,000 pallets. The project is 36 percent complete, with completion expected by September 30, 2027.