Mobily’s Post

This is particularly impressive considering that when the last ICT report was published back in 2017, Saudi Arabia was ranked outside of the top 50 globally. The ICT Development Index (IDI) measures the development and progress of Information and Communication Technologies of 170 countries based on a number of key metrics relating to access, usage and coverage of ICTs. Valued at around 44 billion dollars, Saudi Arabia's ICT market is the largest and fastest growing in the MENA region. And the average monthly data usage per person is three times the global average. This achievement is a testament to the Kingdom's dedication to growth and innovation, aligning perfectly with the goals of Vision 2030. #ICT #DigitalTransformation #Innovation #Vision2030

Foreign direct investment inflows to Saudi Arabia rose 17 percent in the fourth quarter of 2023 compared to the previous period. FDI inflows were shown to have reached SR19.38 billion ($5.17 billion) FDI outflows, representing the Kingdom’s investments in foreign countries, also increased by around 17 percent to SR6.19 billion during this period. Saudi Arabia’s regional headquarters program has attracted multinational corporations like Google, Microsoft, and Amazon to establish operations in the Kingdom. These moves enable these companies to participate in government contracts, energize Saudi Arabia’s hospitality sector, and establish it as a global business hub. Are you interested in investing in the Kingdom of Saudi Arabia? Reach out to us. 🌴 #SaudiArabia #ForeignDirectInvestmment #FDI #Investment

Saudi Arabia’s Leap in Global Competitiveness🌐 Saudi Arabia has climbed the ranks to become the 16th most competitive country globally, according to the latest IMD World Competitiveness Center report. This is a notable jump from its previous position, showcasing the Kingdom’s commitment to enhancing business legislation and infrastructure. Not only has Saudi Arabia improved its overall ranking, but it has also achieved the 4th spot among G20 nations and advanced in business efficiency to 12th place. These achievements reflect the significant economic transformation and reforms underway in the country. The consistent progress, including a leap from 24th in 2022, is a testament to the strategic focus on digital transformation and the fostering of a vibrant venture capital environment. #GlobalCompetitiveness #EconomicGrowth #SaudiArabia #BusinessTransformation

Saudi Arabia is proactively reshaping its economic infrastructure through the introduction of five new Special Economic Zones (SEZs), strategically positioned across the country. These zones are pivotal to the Kingdom's Vision 2030 agenda, which aims to diversify the economy and bolster private sector growth through significant economic reforms. By fostering a competitive investment environment, these SEZs are set to enhance Saudi Arabia's appeal to global investors by offering attractive incentives. The SEZs, including King Abdullah Economic City (KAEC), Ras Al-Khair Special Economic Zone, Jazan Economic City (JEC), Special Integrated Logistics Zone (SILZ), and a zone dedicated to cloud computing, are in various stages of development. They promise to position Saudi Arabia as a key player in the regional economy, ready to compete with other free zones in the GCC. If you need assistance setting up and approaching the market in Saudi Arabia or any other related company setup, restructuring, local partner or PRO support matter in Saudi Arabia, Abu Dhabi, Dubai, the wider UAE, Oman or Qatar, then please do get in touch with us on +966 (0)535 377 578 for Saudi Arabia office, +971 (0)4 456 1761 for Dubai, or email us at ksa@propartnergroup.com and we will be delighted to assist. Read more about economic zones in Saudi Arabia via the link below: https://lnkd.in/gW6wP_bn #gulfnews #ProPartnergroup #ksa #business #ksabusiness #saudibsiness #saudiarabia #vision2030 #saudivision2030 #economiczones #freezone #SEZ

Saudi Arabia is channeling efforts and making significant investments to improve the nation's innovation ecosystem. As a significant step towards this Fast Company Middle East, in collaboration with the Research, Development and Innovation Authority (RDIA), is launching a nationwide survey to produce a report and list titled “The Most Innovative Companies in the Kingdom.” This comprehensive analysis will explore Saudi Arabia's dynamic innovation landscape, highlighting companies, key milestones, advancements, and opportunities that are driving the nation's journey toward becoming a global innovation powerhouse. Read more: https://lnkd.in/gwCSyUg2 Be part of the of this groundbreaking report: https://lnkd.in/guE3c7Fx #KSAInnovationReport

🗝️ 𝗞𝗲𝘆 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗦𝗲𝘁𝘁𝗶𝗻𝗴 𝗨𝗽 𝗮 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗶𝗻 𝗦𝗮𝘂𝗱𝗶 𝗔𝗿𝗮𝗯𝗶𝗮 💡 Saudi Arabia offers several compelling reasons for businesses looking to establish operations in the Middle East: • 🌍 Strategic Location: Saudi Arabia is strategically positioned as a global hub, linking Europe, Asia, and Africa. The Kingdom’s well-developed transportation infrastructure—comprising modern airports, seaports, and industrial cities—makes it an ideal launchpad for companies looking to access a market of over 2 billion consumers. • 💰 Economic Stability: Saudi Arabia’s economy is one of the largest in the Middle East, with a GDP of over $1 trillion. The country’s sound economic policies and fiscal stability offer a secure environment for businesses, reducing investment risk. • 🏙️ Infrastructure and Digital Transformation: Over the past decade, Saudi Arabia has invested billions into upgrading its infrastructure, including the development of smart cities, new highways, and the rollout of advanced digital technologies. These investments create an ideal environment for businesses looking to tap into the future of innovation and connectivity. 📊 In 2023, Saudi Arabia ranked 24th globally in the World Bank’s ease of doing business index, a testament to the country’s efforts to make itself more attractive to foreign investors. With favorable market conditions, a growing consumer base, and continuous government support, there has never been a better time to consider setting up in Saudi Arabia. #SaudiEconomy #BusinessGrowth #MiddleEastHub

Saudi Arabia's economy is set to experience a notable boost in 2024, driven by the government's Vision 2030 reforms aimed at economic diversification and increased private sector involvement. The Kingdom's non-oil sectors, such as transport and communications, continue to expand. The economy is projected to grow by 4.4% in 2024, supported by major investments in infrastructure, mega projects, and social programs (IMF) (KPMG). The government remains committed to fiscal sustainability while increasing public and private spending through initiatives like the Public Investment Fund and National Development Fund. The 2024 budget forecasts a significant increase in military spending and infrastructure projects, including preparations for global events like Riyadh Expo 2030 and the World Cup 2034 (KPMG) (Al Arabiya). These developments underscore Saudi Arabia's determination to solidify its position as a global investment hub while enhancing job opportunities for its citizens, continuing its trajectory of sustainable growth (Al Arabiya). https://lnkd.in/dHDUTF-Q https://lnkd.in/dEA7UR9j https://lnkd.in/dksudC2J https://lnkd.in/dF4nytPk

𝐒𝐚𝐮𝐝𝐢 𝐀𝐫𝐚𝐛𝐢𝐚'𝐬 𝐅𝐃𝐈 𝐒𝐨𝐚𝐫𝐬 𝟔.𝟏% 𝐢𝐧 𝐐𝟏 𝟐𝟎𝟐𝟒, 𝐒𝐢𝐠𝐧𝐚𝐥𝐢𝐧𝐠 𝐒𝐭𝐫𝐨𝐧𝐠 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫 𝐂𝐨𝐧𝐟𝐢𝐝𝐞𝐧𝐜𝐞! Saudi Arabia’s FDI balance surged by 6.1% in Q1 2024, reflecting growing confidence from global investors. With 2,728 new licenses issued, and a 7.9% boost in total fixed capital formation, the Kingdom is cementing its position as a top investment destination. Key sectors like retail, transportation, and agriculture are seeing significant growth, underscoring the dynamic opportunities in Saudi Arabia. The recent Saudi-Thai Investment Forum in Riyadh further strengthens economic ties, marking a new era of collaboration with the opening of the Thai Investment Council office. Exciting times ahead for investors in the Kingdom! #SaudiArabia #Saudirecruitment #Investment #EconomicGrowth

🚀 The Rapid Growth of Saudi Arabia's IT Sector 🚀 The IT landscape in Saudi Arabia is evolving at an extraordinary pace, and the numbers speak for themselves. According to IDC, the Saudi IT services market is forecasted to grow at a compound annual growth rate (CAGR) of 9.0% over the 2024–2027 period, reaching a staggering $6.4 billion by 2027. This remarkable growth is a testament to the massive economic transformation underway in the Kingdom. As part of this vibrant industry, I am thrilled to witness and contribute to this era of technological advancement and innovation. The implications for businesses and IT professionals are enormous - from increased job opportunities to the potential for groundbreaking tech developments. Let’s embrace this exciting journey together and explore the endless possibilities it brings to our industry. #SaudiTech #ITGrowth #Innovation #EconomicTransformation #SaudiArabia

🚀 Exceptional Investment Opportunities Worth SAR 240 Billion ($64 Billion) in the Saudi Supply Chain Sector in Partnership with the United States 🚀 The #Kingdom of #SaudiArabia opens its doors to enticing #InvestmentOpportunities in the supply chain sector, in a strategic partnership with the #UnitedStates of #America. These opportunities, valued at approximately SAR 240 billion ($64 billion), offer both local and international investors a golden chance to partake in the growing Saudi economy. 🔅 Overview of Investment Opportunities: Identifying 70 #investment opportunities in the #SupplyChain sector in cooperation between Saudi Arabia and the United States represents a significant step towards enhancing trade and industry between the two countries. These opportunities cover various areas and aim to localize value-added businesses in the Kingdom. 🔅 Importance of Localizing Investments: With the goal of localizing 50% of these opportunities, Saudi Arabia aims to achieve investments estimated at SAR 130-140 billion ($34.67 to $37.33 billion) in the next decade. This reflects the Kingdom's commitment to achieving economic independence and reducing reliance on oil. 🔅 Focus on Military and Defense Industries: Revealing 76 investment opportunities in the #military and defense sector highlights Saudi Arabia's strategic role in this vital industry. Investing in this sector promises economic growth and opens new horizons for advanced technology and innovation. 🔅 Attracting Global Companies: With over 250 international companies announcing their headquarters' relocation to #Riyadh, the Kingdom emerges as a global business hub. This move enhances the business environment and contributes to achieving #Vision2030. 🔅 Economic and Social Impact: Investing in the supply chain sector not only brings economic benefits but also contributes to improving the quality of life in the Kingdom by creating new job opportunities and supporting infrastructure and technology. 🌟 Invitation to #Investors: These massive investment opportunities present an open invitation to investors wishing to benefit from the promising economic environment in the Kingdom. By participating in these opportunities, you can play a role in shaping the future of the Saudi economy and enjoy lucrative investment returns. The Kingdom of Saudi Arabia stands on the threshold of a new era of growth and development, supported by an ambitious vision and unparalleled investment opportunities. 💡Invest today to be part of this bright future.