Latest news with #SaudiMinistryofInvestment
TECHx
14-05-2025
- Business
- TECHx
Trump Secures $600 Billion Deal During Saudi Arabia Visit
Home » Latest news » Trump Secures $600 Billion Deal During Saudi Arabia Visit U.S. President Donald Trump secured a $600 billion investment commitment from Saudi Arabia on Tuesday, marking a significant development in U.S.-Gulf relations. The announcement came after the president received a ceremonial welcome in Riyadh at the start of his multi-nation tour of Gulf states. The investment pledge was reported by multiple sources close to the negotiations. It covers several sectors including energy, infrastructure, defense, and technology. Officials stated that the commitment aligns with Saudi Arabia's Vision 2030 plan, which aims to reduce the kingdom's dependence on oil by increasing foreign partnerships and investments. The visit also triggered a wave of business deals across Riyadh, Doha, and Abu Dhabi. According to regional media reports, artificial intelligence and emerging technologies were central themes in the announcements. Gulf nations are moving quickly to establish a strong presence in the global AI economy. Several agreements and initiatives were reported during the visit: Gulf sovereign wealth funds announced plans to invest in U.S. tech and AI firms. Joint ventures in AI, smart cities, and healthcare technology were unveiled. New innovation zones were announced to attract U.S. startups in robotics and data science. Sources from Gulf Business and Reuters confirmed that these deals reflect the region's push toward digital transformation. Experts say the Middle East AI market is expected to contribute over $320 billion to the regional economy by 2030. Economists noted that this shift signals a broader pivot from traditional oil-driven revenues to high-tech, future-oriented sectors. Officials from both sides described the visit as a step toward deeper economic cooperation. The Saudi Ministry of Investment and the White House have not yet released a detailed breakdown of the investment package. However, both parties emphasized the long-term strategic value of the agreements made during the Donald Trump Saudi Arabia visit. Sources: Reuters, Gulf Business, Bloomberg
Saudi Gazette
13-05-2025
- Business
- Saudi Gazette
US ranks 6th among top investors in Saudi Arabia with $15.4 billion in FDI
Saudi Gazette report RIYADH — The United States ranked sixth among the top countries investing in Saudi Arabia by the end of 2024, with foreign direct investment (FDI) totaling $15.4 billion, according to data released by the Saudi Ministry of Investment. The United Arab Emirates topped the list with $40.5 billion in investments, followed by Luxembourg ($27.1 billion), France ($17.4 billion), the Netherlands ($17.1 billion), and the United Kingdom ($16.7 billion). The rest of the top ten investors included Bahrain ($10 billion), Kuwait ($9.5 billion), Jordan ($6.8 billion), and Japan ($6.3 billion). These figures highlight the Kingdom's growing appeal to international investors and the diversity of its economic partnerships. The strong FDI inflows are attributed to Saudi Arabia's ongoing economic reforms and initiatives under Vision 2030 aimed at enhancing the investment climate and global competitiveness. Trade between Saudi Arabia and the United States also remains robust. In 2024, Saudi exports to the US reached $13 billion, while imports from the US stood at $19 billion. Bilateral commercial relations over the past decade (2015–2024) amounted to SR1.34 trillion ($357 billion), with Saudi exports totaling $170 billion — mainly oil, fertilizers, and organic chemicals — while imports from the US exceeded $187 billion, largely consisting of machinery, vehicles, and medical devices. Additionally, the volume of trade between Saudi Arabia and Gulf Cooperation Council (GCC) countries reached $180 billion in 2024.
Saudi Gazette
12-05-2025
- Business
- Saudi Gazette
Saudi Arabia, US deepen trade and investment ties with $54 billion in FDI in 2023
Saudi Gazette report RIYADH — Saudi Arabia and the United States are reinforcing nearly a century of strategic partnership with expanded trade and investment collaboration, as is expected to be highlighted by the Saudi–U.S. Investment Forum 2025, which will be held in Riyadh on May 13. The forum, to be hosted by the Saudi Ministry of Investment, marks a pivotal moment in bilateral economic relations, aligning with the Kingdom's Vision 2030 agenda. In 2024, trade between the two nations reached $32.5 billion, with Saudi Arabia exporting $12.8 billion in goods to the U.S., including nearly $3 billion in non-oil products. The Kingdom's top exports included mineral products ($10 billion), fertilizers ($830 million), and organic chemicals ($526 million). Conversely, the United States exported $19.7 billion worth of goods to Saudi Arabia, led by machinery and appliances ($5.1 billion), vehicles ($2.6 billion), and medical and optical apparatus ($1.5 billion). The United States remains the largest foreign investor in Saudi Arabia, with foreign direct investment (FDI) stock totaling $54 billion as of 2023—accounting for 23 percent of all FDI in the Kingdom. Key American investments span transportation and storage ($25.3 billion), manufacturing ($13 billion), and retail ($2.4 billion). U.S. companies currently hold 1,266 investment licenses in Saudi Arabia, including 440 issued in the past year alone, and operate around 200 regional headquarters in the Kingdom. American firms play a significant role in employment, generating over 80,000 jobs in Saudi Arabia—more than half of which are held by Saudis. Notably, these are high-quality roles, offering salaries approximately four times higher than the national average in foreign companies. On the investment outbound front, Saudi capital continues to find a second home in the U.S., with an estimated $75 billion in Saudi FDI stock in the American market. Major contributors include the Public Investment Fund (PIF), Saudi Aramco, and SABIC. Additionally, U.S. financial institutions have played a critical role in channeling global capital toward the Kingdom, with firms like BlackRock mobilizing diverse international investors—including Asian sovereign funds—into Saudi projects. The forum, set to be held in conjunction with the visit of U.S. President Donald Trump, aims to strengthen cooperation across key sectors including energy, infrastructure, technology, financial services, and healthcare, positioning both nations for shared economic growth amid global shifts.
ArabGT
30-04-2025
- Automotive
- ArabGT
Automechanika Riyadh 2025 Wraps Up Its Seventh Edition in Style
The seventh edition of Automechanika Riyadh 2025 recently concluded at the Riyadh International Convention and Exhibition Center, under the patronage of the Saudi Ministry of Investment. Held from April 28 to 30, the event brought together representatives from 34 countries and over 39 Saudi companies—affirming its growing international appeal and its status as the leading regional platform in the vehicle services sector. The opening ceremony was led by Mr. Ajlan bin Saad Al-Ajlan, Second Vice Chairman of the Riyadh Chamber of Commerce, who toured several exhibitor booths. The number of exhibitors surpassed 450 this year—a 32% increase from the previous edition—and included a notable presence of new Saudi companies, reflecting the local market's rapid growth and rising confidence in the show. Remarkable Growth in Scale and Attendance This year, the exhibition grew significantly, with a 70% increase in floor space compared to the 2024 edition, occupying five halls in total. Over three days, the event welcomed more than 15,000 visitors and showcased the latest products and services in areas such as spare parts, electronic systems, oils, tires, vehicle care, diagnostics, and maintenance. The show attracted a wide range of industry players, including wholesalers, distributors, importers, exporters, garage owners, workshop technicians, and service center professionals. Automechanika Academy: A Knowledge Hub for Innovation and Localization Running alongside the exhibition, the Automechanika Riyadh Academy launched under the theme 'Localization and Innovation in Vehicle Services.' Now a core component of the event, the Academy gathered experts and industry leaders to discuss the latest trends, challenges, and developments in the automotive service sector. The Academy offered an intensive knowledge program featuring over 50 sessions and workshops focused on critical topics such as localization, innovation, digital transformation, and sustainable supply chains. Several sessions also spotlighted the Kingdom's efforts to boost its automotive industry—most notably through the King Salman Automotive Manufacturing City, which plays a strategic role in achieving the goals of Saudi Vision 2030. Conference sessions further explored the massive transformation underway in Saudi Arabia's automotive sector, fueled by Vision 2030 ambitions. With over 63% of the population under the age of 30, discussions emphasized the importance of cultivating a new generation of skilled talent in electric mobility, smart transportation, and AI-driven diagnostics. These themes formed the heart of the Automechanika Academy Conference, where experts underscored the need to proactively develop a local workforce ready to lead the Kingdom's mobility future. The event also hosted strategic meetings with key players in the vehicle services sector to develop a roadmap that strengthens Saudi Arabia's and the region's position as a global automotive hub. According to data from Statista , Saudi Arabia accounts for around 50% of car sales in the Middle East, with over 600,000 new vehicles sold annually. The Kingdom aims to scale up domestic production to 700,000 vehicles annually in the coming years as part of its ambitious industrial strategy. Vision 2030 supports several major projects aimed at localizing 40% of the automotive value chain, including the Lucid Motors plant in King Abdullah Economic City and the launch of the Ceer brand. Regional Players Reinventing the Industry Regionally, countries such as Morocco and the UAE are also playing key roles in reshaping the industry. Morocco currently produces over 700,000 vehicles annually for export and is targeting 1 million vehicles per year by 2025. Meanwhile, the UAE has emerged as a key hub for aftermarket services and vehicle re-exports. Captured by Lights In Motion Strong Organizational Praise and Expanding Global Presence Bilal Al-Barmawi, CEO of 1st Arabia for Exhibitions and Conferences, stated that the 2025 edition reflects the sector's accelerating growth and reinforces efforts toward localization and innovation. Ali Hefny, Exhibition Director at Messe Frankfurt Middle East, highlighted this year's unprecedented diversity of exhibitors and conference content. The global nature of the show was further elevated by the presence of seven official country pavilions from Singapore, South Korea, China, Turkey, Taiwan, Hong Kong, and Thailand, alongside newly introduced zones for exhibitors from Italy and India. Automechanika Riyadh serves as the Saudi edition of the world-renowned Automechanika series, recognized as the largest global trade exhibition dedicated exclusively to the automotive aftermarket industry.
Zawya
09-04-2025
- Business
- Zawya
Saudi Arabia seeks private sector investment in sports industry: Report
Saudi Arabia expects substantial private sector investment in its sports industry as the Kingdom prepares to host the 2034 FIFA World Cup, a senior government official said. 'There are significant investment opportunities in the sports sector,' Basem Ibrahim, Director of Sports Investment Development at the Saudi Ministry of Investment, told Ashraq Business. While the government will develop large sports facilities, the private sector will support by developing residential communities, hotels, fan zones, and national team training camps, he said. Investments in infrastructure projects will range from 10 million to SAR 80 million Saudi riyals ($2.7-21.3 million), Ibrahim revealed. According to the official, the Kingdom has received requests to establish sports academies from Brazil, Europe, North America, Australia, Asia, Japan, and South Korea. (Editing by Anoop Menon) (
