Saudi Roundup: Mining & Infrastructure Push

This week’s Saudi Roundup highlights a surge in the Business Confidence Index, a sharp rise in POS spending in April amid strong consumer demand, and the launch of several major projects in Makkah.

General Business & Economy

Non-Oil Private Sector Returns to Growth in April as Output and New Orders Improve

Saudi Arabia’s non-oil private sector returned to growth in April, supported by higher output as companies boosted output amid stronger new business volumes and efforts to complete outstanding work. Firms also pointed to a modest improvement in expectations for activity over the next 12 months. The Purchasing Managers’ Index rose to 51.5 in April from 48.8 in March, moving back above the 50-point neutral threshold that separates growth from contraction.

Saudi Business Confidence Index Rebounds to 54.5 in April

The Saudi Business Confidence Index rose to 54.5 points in April from 52.1 points in March, reflecting continued optimism across the Kingdom’s non-oil sectors, according to official data. The latest report by the General Authority for Statistics showed that the Kingdom’s BCI reached 60.7 in February and 61.6 in January, before declining in March, largely due to regional developments.

Saudi Arabia Strengthens Cooperation with the US and Japan in Industry and Mining

Saudi Arabia is accelerating international partnerships with Japanese and US firms to advance the development of its mining and energy sectors as part of the Kingdom’s Vision 2030 transformation strategy. During the Milken Institute Global Conference 2026 in Washington, D.C., Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef met with executives from DCVC and Tidal Metals to explore cooperation in critical minerals, advanced mining technologies, and strategic investment opportunities.

Aramco Launches AI Partnership for Industrial Automation and Energy Innovation

Aramco and IBM announced plans to collaborate on advancing artificial intelligence, agentic AI, automation, material science, and other agreed areas within the industrial sector. The collaboration will center on developing practical, high-impact solutions by combining IBM’s enterprise technology platforms, consulting expertise, and research capabilities with Aramco’s large-scale industrial operations, extensive data resources, and nearly 90 years of experience and knowledge in the energy sector.

POS Spending Jumps 38% to $4.4bn Amid Strong Consumer Demand

Saudi Arabia’s total point-of-sale transactions climbed to SR16.6 billion ($4.4 billion) in the week ending May 2, marking a 37.7% increase in transaction value. According to the latest figures released by the Saudi Central Bank, the total number of transactions rose 20.2% week on week to 270.7 million, highlighting strong momentum across a broad range of consumer spending categories.

Entertainment & Culture

Entertainment Sector Marks Decade of Transformation With 320 Million Visitors

A decade after the establishment of the General Entertainment Authority in 2016, Saudi Arabia’s entertainment sector has grown into one of the Kingdom’s fastest-expanding industries, reshaping cultural and public experiences while boosting investment and global engagement. Over the past decade, Saudi Arabia has launched more than 60 entertainment seasons and programs, drawing over 320 million visitors and supporting more than 650 companies through sector initiatives.

Prince Khaled Bin Faisal Cultural Foundation Launched in Makkah

On behalf of Prince Khaled bin Faisal, Deputy Emir of Makkah Region, Prince Saud bin Mishaal attended the launch ceremony of the Prince Khaled bin Faisal Cultural Foundation, alongside senior officials, princes, and cultural figures. In a statement on the occasion, Prince Khaled bin Faisal emphasized that the foundation prioritizes strengthening national identity and promoting a moderate Saudi cultural model while preserving the country’s values and heritage.

Infrastructure

China’s Hailiang, Saudi Arabia’s Rawas Partner on $566M Copper Plant

Zhejiang Hailiang and Rawas have signed an agreement to develop an intelligent manufacturing facility for high-end copper products in Saudi Arabia. According to a statement issued by Hailiang in Chinese, the project is expected to involve investments of around $566 million and will be carried out in two phases. Listed on the Shenzhen Stock Exchange, Zhejiang Hailiang operates as a subsidiary of Hailiang Group, one of the world’s largest producers and exporters of copper pipes.

Makkah Deputy Emir Inaugurates 10 Road Projects Worth SR553 Million

Deputy Emir of Makkah Prince Saud bin Mishaal inaugurated 10 major road projects across the region, with a total cost of SR553 million ($147.5 million) and a combined length of 109 kilometers. The projects aim to enhance mobility across Makkah Region and improve access for visitors to the Grand Mosque, while aligning with the Saudi Road Code and the highest safety and quality standards. They also strengthen the region’s extensive road network, which spans more than 8,623 kilometers.

ACWA Confirms 32 Projects Under Construction

ACWA Power said on Sunday that construction activity continued at a strong pace, with 32 projects currently under development, representing 44.2 gigawatts of power capacity and 2.6 million cubic meters per day of desalinated water capacity. In its first-quarter 2026 results published on the Saudi stock exchange, the Saudi utility developer said it achieved commercial operations on two projects during the period, adding 0.77 gigawatt-hours of battery energy storage system capacity and 0.6 million cubic meters per day of desalinated water output.

Mining Licenses Surge 220% as Investments Reach $11.7bn in 2025

Saudi Arabia’s mining sector posted record growth in 2025, with the number of exploitation licenses surging 220% and total investments reaching SR44 billion ($11.7 billion). A report issued by the Ministry of Industry and Mineral Resources showed that exploration spending more than doubled year on year, rising 110%. Meanwhile, the sector’s export value climbed to SR56 billion ($14.9 billion), with shipment volumes estimated at around 29 million tonnes.

MODON Attracts Over $3.2bn in Foreign Investment in 2025

The Saudi Authority for Industrial Cities and Technology Zones (MODON) reported strong performance in 2025, attracting more than SR12 billion ($3.2 billion) in new foreign investments and achieving 100% growth compared with 2024. The results underscore the rising attractiveness of Saudi Arabia’s industrial cities to global investors, aligning with MODON’s strategy to position itself as a leading destination for local and international investment, in line with the National Industrial Strategy and the ambitions of Saudi Vision 2030.

Business Expansions

Saudi Arabia No Longer a “Test Market” as Multinationals Deepen Commitments, AstroLabs CEO Says

Saudi Arabia is no longer viewed by multinational companies as a market to test but rather as a destination for long-term investment and strategic expansion, according to Roland Daher, the CEO of AstroLabs. In an interview with Arab News, Daher said the Kingdom’s investment landscape is evolving not only in scale but also in the caliber and level of commitment of companies entering the market. Over the past 12 years, AstroLabs has assisted more than 1,000 high-growth companies in entering Saudi Arabia.

JLL Launches International Sports and Entertainment Hub in Riyadh

JLL has launched a dedicated Sports and Entertainment (S&E) Hub in Riyadh, reinforcing the Kingdom’s growing role as a regional center for sports, entertainment, and large-scale investment projects. Headquartered in the Saudi capital, the hub will support both regional and international clients, providing comprehensive solutions for sports organizations, developers, investors, and brands seeking opportunities in the rapidly expanding sector.