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Saudi Gazette
15 hours ago
- Business
- Saudi Gazette
Saudi Arabia blocks foreign online store for selling counterfeit gold bullion
Saudi Gazette report RIYADH — The Ministry of Commerce blocked a non-compliant, untrusted online store based outside Saudi Arabia after it was found advertising counterfeit gold bullion made of copper and coated with gold to deceive and mislead shoppers. The ministry detected the violation after the store, which targeted the Saudi market, promoted gold bullion of various weights at half the market value. The store was immediately blocked in cooperation with the relevant authorities to protect consumers and enforce the provisions of the E-Commerce Law and its executive regulations. The ministry stressed the importance for all consumers to verify the reliability of online stores before purchasing through the 'Enquiry on E-Commerce Documentation' service on the Saudi Business Center platform, and to avoid dealing with unknown websites, stores, or accounts to protect themselves from fraud and scams.
Zawya
14-08-2025
- Business
- Zawya
Saudi Arabia attracts 616 regional HQs of global companies by Q1 2025, says Media Minister
RIYADH — Saudi Arabia's program to attract the regional headquarters of global companies has brought in 616 firms by the first quarter of 2025, Minister of Media Salman Al-Dosari said on Wednesday. The figure marks a rise from 571 companies in the previous quarter. Speaking at a press conference in Riyadh, Al-Dosari said the Kingdom is actively boosting startup growth and investment appeal, with commercial registrations reaching 1.7 million by mid-2025, up 13% year-on-year. Citing the 2025 Global Startup Ecosystem Report, he said Saudi Arabia's global ranking in entrepreneurship support jumped 60 places to 23rd, and five Saudi firms are poised to become unicorns. The Saudi Business Center and its online platform have delivered over 10 million services. In the industrial sector, the number of factories has grown from 7,200 before Vision 2030 to 12,500 by mid-2025, while industrial investment has climbed from SR955 billion to SR1.2 trillion. Non-oil exports surged from SR178 billion to SR607 billion, with Saudi products now reaching more than 180 countries. The 'Made in Saudi' program has unlocked more than 3,000 export opportunities. The Saudi Industrial Development Fund issued SR4.5 billion in loans in the first half of the year, while the Saudi Authority for Industrial Cities and Technology Zones established around 2,200 ready-built factories to support investors and entrepreneurs. In mining, Saudi Arabia advanced from 104th to 23rd in the global mining investment attractiveness index, with over 2,400 valid mining licenses issued by mid-2025. Al-Dosari also highlighted health sector achievements, including Jeddah's recognition as the Middle East's first 'healthy city' of over one million residents by the World Health Organization, and the inclusion of seven Saudi hospitals in the 2025 global top 200 list. 'In the Kingdom, health is not just a sector but an investment in people and quality of life,' he said. He announced that the Ministry of Media and Ministry of Education will launch a Media Scholarship Program to train Saudi students at leading universities and companies worldwide, with details to be revealed later. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Saudi Gazette
13-08-2025
- Business
- Saudi Gazette
Saudi Arabia attracts 616 regional HQs of global companies by Q1 2025, says Media Minister
Saudi Gazette report RIYADH — Saudi Arabia's program to attract the regional headquarters of global companies has brought in 616 firms by the first quarter of 2025, Minister of Media Salman Al-Dosari said on Wednesday. The figure marks a rise from 571 companies in the previous quarter. Speaking at a press conference in Riyadh, Al-Dosari said the Kingdom is actively boosting startup growth and investment appeal, with commercial registrations reaching 1.7 million by mid-2025, up 13% year-on-year. Citing the 2025 Global Startup Ecosystem Report, he said Saudi Arabia's global ranking in entrepreneurship support jumped 60 places to 23rd, and five Saudi firms are poised to become unicorns. The Saudi Business Center and its online platform have delivered over 10 million services. In the industrial sector, the number of factories has grown from 7,200 before Vision 2030 to 12,500 by mid-2025, while industrial investment has climbed from SR955 billion to SR1.2 exports surged from SR178 billion to SR607 billion, with Saudi products now reaching more than 180 countries. The 'Made in Saudi' program has unlocked more than 3,000 export Saudi Industrial Development Fund issued SR4.5 billion in loans in the first half of the year, while the Saudi Authority for Industrial Cities and Technology Zones established around 2,200 ready-built factories to support investors and mining, Saudi Arabia advanced from 104th to 23rd in the global mining investment attractiveness index, with over 2,400 valid mining licenses issued by also highlighted health sector achievements, including Jeddah's recognition as the Middle East's first 'healthy city' of over one million residents by the World Health Organization, and the inclusion of seven Saudi hospitals in the 2025 global top 200 list. 'In the Kingdom, health is not just a sector but an investment in people and quality of life,' he announced that the Ministry of Media and Ministry of Education will launch a Media Scholarship Program to train Saudi students at leading universities and companies worldwide, with details to be revealed later.
Leaders
10-08-2025
- Business
- Leaders
Saudi Business Center Showcases Investment Opportunities at Expo 2025 Osaka
The Saudi Business Center promoted Saudi Arabia's investment climate and streamlined government services during a workshop at the Kingdom's pavilion at Expo 2025 Osaka, as part of efforts to attract Japanese investors and deepen economic ties. The workshop, attended by Japanese business leaders and prospective investors, outlined the Center's role in simplifying procedures for launching and operating businesses in Saudi Arabia. Officials highlighted a range of integrated services designed to support foreign investors entering the Saudi market and participating in national development projects. The Center operates 20 branches in 15 cities and offers a digital platform that consolidates more than 6,000 services from 62 government agencies, in line with Riyadh's broader strategy to position itself as a global benchmark for business-friendly governance. Saudi representatives said the initiative reflects the Kingdom's commitment to improving the ease of doing business and creating a competitive environment for international investment. Short link : Post Views: 28 Related Stories
Zawya
27-05-2025
- Business
- Zawya
Saudi: Five conditions to transfer ownership of commercial registration to a sole proprietorship
RIYADH — The Ministry of Commerce has clarified that there are five terms and conditions for transferring ownership of a sole proprietorship's commercial registration to another person. The transfer can be undertaken via the e-services of the Saudi Business Center's business platform: The service of transferring ownership of a sole proprietorship's commercial registration targets investors from Saudi Arabia and other Gulf states and the transfer process will be completed within one day. According to the conditions, the commercial registration shall be active; the new owner does not already own a sole proprietorship's commercial registration; the new owner shall not be a government employee, the age of the owner shall be at least 18 years; and the name in the commercial registration shall not be the transferor's personal name. The ministry indicated that if the person from whom the commercial registration is transferred is deceased, a deed of inheritance must be submitted, along with a deed of guardianship if there are minors. A legal power of attorney from all heirs must be provided, stipulating the transfer of the business, and a sale and transfer contract from the heirs, specifying the registration number, must be submitted electronically via the "Business Platform." © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
