In this Market Profile video, “The Report on the State of Culture in the Kingdom of Saudi Arabia 2023: Sustainability in the Cultural Sector” launches, exploring developments in the Kingdom’s fast-growing cultural sector through six major themes: sustainability in the cultural sector, management and conservation, creativity and cultural production, cultural participation, creative economy,
Under the stewardship of the Ministry of Culture, Saudi Arabia’s cultural sector is experiencing rapid growth, driven by a strategic commitment to preserving and promoting the Kingdom’s rich history, national identity and heritage. Driving sustainable cultural transformation is a key focus of this growth strategy, with the sector projected to contribute 3% to GDP by 2030 – generating…
The empowerment of micro-, small and medium-sized enterprises (MSMEs) in Saudi Arabia is key to driving economic diversification and resilience. The Kingdom has laid out strategic foundations to support MSME growth, recognising their role in creating a more dynamic and inclusive economy. By fostering an environment that enables MSMEs to expand, the country aims to unlock their full potential…
Click here to read our Saudi Arabia Economic Report and Investment Analysis 2024 online …
A transformation is sweeping through Saudi Arabia’s legal landscape, marking a pivotal moment in the country’s journey towards modernisation and transparency. With a focus on aligning with global standards, Saudi Arabia is ushering in an era of reform that promises to reshape its legal system and redefine its role on the international stage. These changes are part of the broader Vision 2030 initiative,…
Businesses across Saudi Arabia face an evolving and increasingly complex tax environment as the Kingdom continues to diversify its economy under Vision 2030. With the introduction of value-added tax (VAT) in 2018, the implementation of excise taxes and the forthcoming zakat (a payment under Islamic law used for charitable or religious purposes) and income tax reforms, the regulatory landscape is rapidly…
Interview: Ibrahim Neyaz, CEO, National Technology Development Programme How does the development of the innovation ecosystem within the ICT sector contribute to the economic transformation outlined in Vision 2030? IBRAHIM NEYAZ: The innovation ecosystem within the ICT sector is essential to achieving the goals outlined in Vision 2030. This sector is a cornerstone for the country’s economic transformation,…
Interview: Salman Al Badran, CEO, Mobily How will 5G deployment in Saudi Arabia drive digital transformation in key non-oil sectors, and what strategies will accelerate its rollout? SALMAN AL BADRAN: The deployment of 5G in Saudi Arabia will drive digital transformation across key non-oil sectors like health care, education and manufacturing. In health care, 5G will improve access and efficiency…
Interview: Yaser Al Onaizan, CEO, National Centre for Artificial Intelligence In what ways can artificial intelligence (AI) and big data contribute to the objectives of Vision 2030? YASER AL ONAIZAN: Both AI and big data are central pillars of Saudi Arabia’s digital transformation. AI is critical to enhancing service delivery, particularly in health care and education. For example, AI can facilitate…
Interview: Joseph Rank, CEO for Saudi Arabia and Africa How localised is defence manufacturing, and what is the role of the private sector in this process? JOSEPH RANK: The private sector plays a vital role in Saudi Arabia’s defence manufacturing, as it is responsible for the actual production. The government can invest directly or through industrial participation programmes to incentivise this…
