Youth-led businesses in Saudi Arabia account for over a third of all commercial registrations
The fastest-growing sectors among the 474,000 youth-led businesses include app development, which led the way with 28 percent annual growth resulting in 18,780 commercial permits. Artificial intelligence technologies closely followed, with a 34 percent increase, reaching 14,409 registrations.
The e-gaming industry also showed remarkable progress, expanding by 32 percent to 8,260 permits, while film, video, and TV production grew by 20 percent, totaling 5,752 registrations by mid-2025.
Saudi Arabia has a predominantly young population, with the latest census data indicating that individuals under the age of 30 constitute 62.8 percent of the population.
Through public-private partnerships and targeted programs, the nation is equipping young Saudis with digital literacy, entrepreneurial skills, and industry-specific expertise in high-growth sectors like AI, renewable energy, and tourism.
Private sector giants, including PwC, NEOM, Aramco, and Red Sea Global, are collaborating with government initiatives to equip Saudi youth with industry-relevant expertise.
Programs such as PwC's Hemam training, Red Sea Global's leadership programs, and vocational training schemes ensure hands-on experience, aligning education with labor market demands.
Incubators like The Garage foster startup innovation.
However, challenges persist in aligning education with labor market needs, necessitating ongoing cooperation between businesses and academia to sustain this talent pipeline.
PwC's Riyadh Al-Najjar emphasized in an interview with Arab News in January that an 'entrepreneurial mindset' is critical for private sector growth, while Red Sea Global's Zehar Filemban highlighted the need for adaptability in a fast-evolving job market.
The government is addressing these needs through vocational training, Saudization programs, and incentives to attract and retain skilled professionals.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Argaam
2 hours ago
- Argaam
Signworld issues prospectus to float 1.5M shares on Nomu
National Signage Industrial Co. (Signworld) issued today, July 27, the prospectus to float 1.5 million shares, or 20% of capital, on the Nomu -Parallel Market. The company will offer 1.5 million shares, equal to 25% of pre-offering and 20% of post-offering capital, to qualified investors. For More IPOs The share sale will run from Aug. 17-24. The Capital Market Authority (CMA) approved, in March, the company's application for direct listing on Nomu. Signworld's core business involves the design, manufacturing, and assembly of electronic panels and displays for various applications, in addition to installation and maintenance services. It operates through three branches. Company Profile Company National Signage Industrial Co. (Signworld) Core Activities Manufacturing and sale of feed products Market Nomu-Parallel Market Pre-IPO Capital SAR 60mln Number of Shares 6 mln Post-IPO Capital SAR 75 mln New Number of Shares 7.5 mln Nominal Value SAR 10 a share IPO Summary Issue Percentage 20% of post-IPO capital, 25% of pre-IPO capital Offered Shares SAR 1.5 mln IPO Minimum Limit 10 shares IPO Maximum Limit 374,990 shares Offer Period Aug. 17-24, 2025 Final Allocation Aug. 27, 2025 Surplus Refund (If any) Aug. 31, 2025 Company Shareholders Shareholders Before IPO After IPO Number of Shares (mln) Ownership (%) Number of Shares (mln) Ownership (%) Al Mohandes Holding Group 6.00 100.00 % 6.00 80% Qualified investors -- -- 1.50 20% Total 6.00 100 % 7.50 100%
Argaam
2 hours ago
- Argaam
NADEC CEO says dividend policy tied to strategy, operations
Solaiman Altwaijri, CEO of National Agricultural Development Co. (NADEC), said the cash dividend decision depends on several strategic and operational factors, mainly the company's current stage and future funding requirements. He explained in an interview with Argaam that since NADEC is undergoing an expansion phase, financial resources are currently directed toward executing its growth plans. Altwaijri added that the company's outlook for the remainder of 2025 remains aligned with its strategic and operational roadmap and that no major developments are anticipated. He said Q2 2025 net profit rose on the back of a 5.1% year-on-year (YoY) increase in net revenue, driven by growth in new business segments, and although operating costs rose due to higher fuel expenses, this was offset by a 23% YoY increase in treasury income. Commenting on the protein segment, Altwaijri stated that the red meat business, a recent addition, generated SAR 59 million in net revenue during Q2, marking a 35% YoY growth, while profitability indicators remained stable. He noted that the dairy and food segment remained the top revenue contributor at 89%, followed by the protein segment at 7% and agriculture at 4%. Altwaijri also pointed out that the Central and Eastern Provinces recorded the strongest demand during Q2, with both seeing significant sales growth.
Argaam
3 hours ago
- Argaam
SPIMACO launches oncology, high-potent drug plant
Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) inaugurated its oncology and high potent drugs plant at a total value of SAR 272 million. In a statement to Tadawul today, July 27, SPIMACO said the plant boasts an annual production capacity exceeding 275 million therapeutic units. Incorporating the latest technologies, the new facility adopts the highest international standards in pharmaceutical manufacturing, ensuring operational efficiency, personnel safety, and environmental sustainability. As all technical, regulatory, and operational requirements were completed, the plant will produce the first commercial batches this month, SPIMACO stated.
