Saudi-Spanish business forum kicks off in Riyadh
RIYADH — The Saudi-Spanish Business Forum, organized by the Federation of Saudi Chambers in cooperation with the Ministry of Economy and Planning and the Ministry of Investment, kicked off on Thursday in Riyadh.
Minister of Economy and Planning Faisal Al-Ibrahim and Spanish Minister of Economy, Trade and Business Carlos Cuerpo were present at the event with more than 300 officials and investors.
Al-Ibrahim affirmed that Saudi Arabia is confidently moving toward a knowledge-based economy, driven by Saudi Vision 2030. He noted that the Kingdom's non-oil sectors accounted for 54.8% of GDP in 2024, for the first time in Saudi Arabia's history.
He explained that Saudi's Vision 2030 has witnessed a 70% growth in private investments in non-oil sectors since its launch, as a result of the implementation of more than 900 economic and structural reforms that have contributed to enhancing investor confidence and facilitating the business environment.
Cuerpo emphasized that Saudi Arabia is Madrid's most important partner in the region, and the presence of Spanish companies in the Kingdom has increased by 57% over the past three years.
He explained that the current economic situation in Spain is suitable for strengthening relations with Saudi Arabia. Spain has reached a record level of financing capacity, while the tourism sector is the main driver, and it has occupied advanced positions in attracting renewable energy projects and research and development activities related to artificial intelligence, he said.
Chairman of the Saudi-Spanish Business Council Khalid Al-Hogail explained that Saudi Arabia and Spain are seeking to explore investment opportunities and enhance trade exchange in promising and vital sectors.
He noted that trade and investment relations are currently witnessing development; in 2024, the volume of trade exchange reached approximately $6 billion. He noted that the council is working to strengthen partnerships between business leaders in sectors such as energy, tourism, construction, sports, food, and logistics services.
Four agreements were signed between Saudi and Spanish companies across several economic sectors. Specialized sector-specific sessions and workshops were also held, highlighting the investment environment and opportunities in both countries, particularly in vital economic sectors, as well as the incentives and facilities offered to investors from both sides.
It is noteworthy that the volume of trade exchange between Saudi Arabia and Spain at the end of 2024 amounted to SR22.9 billion, with Saudi exports amounting to SR12.4 billion, while its imports from Spain amounted to SR10.5 billion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saudi Gazette
an hour ago
- Saudi Gazette
Cityscape Global returns to Riyadh in November 2025
Cityscape Global, will return to the Exhibition and Convention Centre in Malham, Riyadh, from 17 - 20 November 2025. Held under the theme 'The Future of Urban Living', the event is sponsored by the Ministry of Municipalities and Housing (MOMAH) in partnership with the Real Estate General Authority (REGA), Vision 2030, the Housing Program, and organised by Tahaluf. This year, the world's largest real estate event will once again bring together over 172,000 participants across the whole real estate value chain - from developers and architects to institutional investors, technology providers, and policymakers. While Cityscape Global is renowned for showcasing the scale and ambition of Saudi Arabia's real estate transformation, it also has a global dimension, with more than 70 international developers and over 20,000 international attendees represented at last year's show. Notably, 2025 will also see the co-location of ESTAAD, Saudi Arabia's first platform dedicated to the entire international ecosystem behind stadiums, sports, and mega-event infrastructure. This year's edition, therefore, promises to be the largest and most impactful yet, featuring over 450 world-class exhibitors, 500 speakers, four curated conferences, and two VIP networking programmes for institutional investors and international developers. Majed Al-Hogail, Minister of Municipalities and Housing, stated: 'The 2025 edition of Cityscape Global, set to take place this November, represents a significant opportunity to forge new partnerships and strengthen collaboration as we pursue the ambitious objectives of Vision 2030. This exhibition plays a crucial role in supporting our efforts to develop integrated urban communities, improve the quality of life for citizens and residents, and drive sustainable economic growth. We welcome stakeholders from across the real estate value chain—both locally and globally—to join us in shaping the future of living, here in Saudi Arabia and beyond.' Faisal Al-khamissi, Chairman of the Saudi Federation for Cybersecurity, Programming and Drones and a founding partner of Tahaluf, said: "This year, we aim to leverage the outstanding successes achieved by Cityscape Global in its previous editions, particularly what was recorded in 2024 in terms of the value of transactions and the increase in global participation, with the total deals exceeding the value of $61 billion, and participating countries reaching 121; reflecting the growing global significance of this exhibition, which continues to establish its international presence as one of the most important platforms for conducting real estate business deals in this sector.' He emphasized the organizers' commitment to achieving further successes in the 2025 edition and providing more distinguished events to continue contributing to shaping the future of the global real estate sector, which enhances the Kingdom's leadership and its prominent role in leading developmental pathways across various sectors, hosting and organizing international conferences and major global events. This year, Cityscape Global will include: * Future of Living Summit Where decisions that shape smarter cities happen. Bringing together ministers, mayors, billion-dollar developers, and leading investors. The programme will provide an overview of federal strategies, reveal insights into the world's most ambitious developments, and explore the latest in AI, PropTech, and sustainable urban design. * DnA (Developers & Architects) Stage The DnA Stage is the premier platform connecting award-winning urban planners, top architecture firms, facility managers, and ESG experts with the region's leading developers. Focused on practical insights, the programme will define the DNA of cities through human-centric planning, sustainable retrofits, and advanced construction solutions. * Innovation Arena The Innovation Arena provides an opportunity for startups to showcase the latest tech innovations in real estate at the Cityscape Innovation Challenge and connect with the next wave of architects at the Future Leaders Hackathon. This stage will also provide up to date market information on homeownership and mortgages in Saudi Arabia. * ESTAAD ESTAAD co-located with Cityscape Global connects the entire sports and entertainment infrastructure ecosystem, providing an opportunity to gain insights from sports federations, expo organisers, Olympic committees, celebrity athletes, top architects, and venue operators. Cityscape Global to host world's real estate leaders Notable global real estate leaders speaking at Cityscape Global 2025 include: * Sally Capp, Former Mayor of Melbourne * Darren Bechtel, Founder & Managing Director Brick & Mortar Ventures – the largest ConTech VC globally * Stefano Boeri, Acclaimed Architect and Creator of Bosco Verticale * Mitchell Silver, Former New York City Parks Commissioner * Anil Erdem, Managing Director, BentallGreenOak In addition, November's event brings together world-class exhibitors, who will showcase their real estate and lifestyle projects to global investors, top industry influencers and decision-makers who are driving innovation and shaping the future of real estate. USA, China, India, UK, Italy, UAE, Qatar and Jordan make up just some of the international countries with real estate representation at this year's Cityscape Global. Brands such as Qatari Diar Real Estate Investment Company, Hovnanian Real Estate, BID 3D Models LLC, Jordan Gate for Real Estate, Commercial & Tourism Investment Co., Dongying Yiheng New Building Materials Co., Ltd., Iris Ceramica Group, JLL and Property Automate have also confirmed their attendance. Cityscape Global showcases Saudi Arabia's ambitious portfolio of giga and mega projects, highlighting the Kingdom's groundbreaking innovations and transformative urban development initiatives. Jerry Inzerillo, Group CEO, Diriyah Company, explained: 'Diriyah Company is building one of the world's most unique contemporary urban developments – The City of Earth. Our goal is to uplift the quality of life for over 100,000 residents, creating a hub for entertainment, education, and work. Offering residents and visitors iconic experiences such as the Royal Diriyah Opera House and numerous other hospitality, retail & entertainment assets. At Cityscape Global in 2024, we successfully launched the 'Signature Collection of The Ritz-Carlton Residences Diriyah' and the 'Raffles Residences Diriyah', which were extremely well received by the marketplace, and in 2025 we are looking to realize even more successes.' In addition, renowned developers such as Ajdan, Ajlan & Bros, Ajlan Riviera, Al Basateen, Al Majdiah, Al Othaim, Abdulrahman Saad AlRashed and Sons Co., Dar wa Emaar, Mohammed Al Habib, Osool, OSUS, Rafal, Retal, and Zood are committed Diamond Partners to Cityscape Global. They will showcase various cutting-edge projects, which are shaping the future of real estate innovation.
Saudi Gazette
2 hours ago
- Saudi Gazette
Saudi Arabia to unveil national media strategy soon, says minister
Saudi Gazette report RIYADH — Minister of Media Salman Al-Dosari confirmed on Wednesday that Saudi Arabia has not yet launched its official media sector strategy, stating that the national media strategy remains under review and will be formally announced in due course. Speaking during the government press conference in Riyadh, Al-Dosari said the Saudi media landscape is evolving from merely relaying news to creating impact, emphasizing that the sector is moving "from medium to message." He also announced that the upcoming edition of the Saudi Media Forum will be held under the patronage of King Salman bin Abdulaziz, positioning it as a national platform aligned with global media momentum and future-focused tools. '2030 is no longer a date in the future, it symbolizes limitless ambition. In Saudi Arabia, dreams aren't told, they're built. Tomorrow doesn't wait; it's accomplished today,' Al-Dosari added. Highlighting the Kingdom's humanitarian role, the minister noted that Saudi Arabia is transforming its aid initiatives into a sustainable humanitarian system. Since its inception, the King Salman Humanitarian Aid and Relief Center (KSrelief) has delivered more than SR30 billion in aid to 108 countries through over 3,500 development and relief programs. Al-Dosari also revealed that around 230,000 surgeries have been performed under Saudi Arabia's overseas voluntary medical campaigns. Meanwhile, the Saudi Program for the Development and Reconstruction of Yemen has provided over SR4.27 billion in funding for more than 265 projects across key sectors including roads, water, health, and education. Turning to technology and innovation, Al-Dosari said Saudi Arabia sees sustainable development as a transnational responsibility. 'We are crafting the algorithms of the future, turning data into decisions and artificial intelligence into development,' he noted. Saudi Arabia's digital economy reached SR495 billion in 2024, accounting for 15% of GDP and growing at an annual rate of nearly 7%. The number of tech companies listed on the Saudi stock exchange has also surged to 23 in 2024, up from just two in 2020. 'Today, we don't just consume technology, we contribute to building it with a value-driven and human-centered vision,' Al-Dosari said.
Saudi Gazette
3 hours ago
- Saudi Gazette
Seven new Saudi aid trucks cross Rafah into Gaza as relief efforts intensify
Saudi Gazette report RAFAH — Seven new Saudi relief trucks crossed the Rafah border crossing on Wednesday, carrying food aid provided by the King Salman Humanitarian Aid and Relief Center (KSrelief) as part of the Kingdom's ongoing popular campaign to support the Palestinian people in Gaza. The latest convoy marks a continued expansion of Saudi Arabia's humanitarian air and sea bridges. To date, the Kingdom has dispatched 58 aid planes and 8 ships, delivering a total of 7,188 tons of food, medical supplies, and shelter materials. The aid also includes 20 ambulances handed over to the Palestinian Red Crescent Society. In light of the deteriorating humanitarian situation in Gaza, Saudi Arabia has stepped up its efforts with a series of initiatives. Most recently, KSrelief signed agreements with several international organizations to fund emergency relief projects worth $90.35 million, aimed at supporting the most critical humanitarian cases inside Gaza. Additionally, in coordination with Jordan, KSrelief has carried out airdrop operations to deliver food to civilians in besieged areas, helping to bypass restrictions caused by the ongoing border closures. Gaza remains in the grip of a severe humanitarian crisis due to continued military operations and widespread shortages of basic necessities. These Saudi aid efforts are seen as vital lifelines for thousands of displaced and affected families.
