Saudi Roundup: Global Leadership in Road Connectivity & Tourism Growth
This week’s Saudi Roundup highlights Saudi Arabia's global leadership in road connectivity and tourism revenue growth, a new partnership between Ceer and SABIC to advance EV manufacturing, and the launch of Jeddah's first logistics investment fund.
General Economy & Business
Saudi Issues and Renews More Than 274,000 Commercial Licenses in First Half of 2026
The Ministry of Municipalities and Housing issued and renewed more than 274,000 commercial licenses during the first half of 2026, including over 97,000 new licenses and 177,000 renewals. During the same period, the ministry processed more than 91,000 commercial license amendments, over 43,000 requests to add business activities, and more than 39,000 ownership transfers.
PIF Signs $24.5 Billion Financing Agreements With US EXIM & World Bank Entities
The PIF signed financing agreements worth up to $24.5 billion with the Export-Import Bank of the United States (EXIM) and two World Bank Group institutions to support strategic investments and expand access to long-term capital. The agreements include a memorandum of understanding with EXIM that establishes a framework for up to $15 billion in financing for eligible PIF portfolio companies purchasing U.S.-origin goods and services.
Global Rankings
Saudi Arabia Ranks First Globally in Tourism Revenue Growth, Quality of Life Report
Saudi Arabia ranked first globally for growth in international tourism receipts during the first quarter of 2025, according to the Quality of Life Program's 2025 annual report. The milestone reflects the continued expansion of the Kingdom's tourism sector, driven by investments in destinations, hospitality, and visitor experiences under Vision 2030. The report also highlighted the Quality of Life Program's broader economic impact, contributing SR78 billion to Saudi Arabia's GDP and creating 387,000 jobs.
The Kingdom Retains Regional Lead in Digital Government Services for Fourth Consecutive Year
Saudi maintained its position as the highest-ranked country in the Middle East and North Africa for digital government services, topping the 2025 Global E-Government Maturity Index (GEMS) for the fourth consecutive year with a score of 99%. The report also recognized Riyadh as the headquarters of the new Global Digital Government Center, established in partnership with the United Nations.
Saudi Arabia Tops Global Road Connectivity Rankings, Says WEF
Saudi Arabia ranked first globally in the World Economic Forum's Road Connectivity Index, recognizing years of investment in transport infrastructure that have expanded the Kingdom's road network to more than 73,000 kilometers. The extensive network has improved connectivity between cities and governorates, making travel more efficient while supporting economic activity and regional integration.
Logistics
Saudi Arabia Launches First Logistics Investment Fund to Develop Jeddah Logistics City
Saudi has launched its first logistics investment fund, backed by SAR 650 million ($173 million) in investments, to develop a new logistics city in Jeddah. The project is being developed through the newly established Missan Logistics Opportunities Fund, created following partnerships between Missan for Real Estate Development, ANSAB Contracting Company, and FAAD Partners. Spanning 320,000 square meters in northern Jeddah, the development is expected to be completed within 18 months, with serviced logistics plots released to the market in line with demand.
Industrial
SABIC and Ceer Explore Partnership to Advance Saudi EV Supply Chain
SABIC announced in a press release yesterday the signing of a memorandum of understanding with CEER to explore opportunities for collaboration in applying SABIC's advanced materials and innovative solutions in the design, development, and manufacture of CEER's electric vehicles. The MoU also aims to evaluate mutually beneficial commercial opportunities and define the terms of potential collaboration.
Riyadh Air Expands Fleet With 34 Additional Boeing and Airbus Aircraft
Riyadh Air has expanded its fleet plans by confirming orders for 34 additional widebody aircraft, reinforcing the state-backed carrier's strategy to build a global network. The announcement includes 28 additional Boeing 787 Dreamliners, increasing the airline's total firm order for the aircraft to 67. Unveiled at the Farnborough International Airshow, the agreement also includes the conversion of 20 aircraft to the larger Boeing 787-10 variant, alongside a previously undisclosed order for 11 Dreamliners.