RIYADH: Minister of Commerce and Investment Majid Al-Qassabi on Saturday said that the Kingdom is marching in a steady line in trade and investments which has resulted in a total of 7,827 foreign projects in the country.
Al-Qassabi made the statement to mark Saudi Arabia’s 87th National Day which was being celebrated by citizens and residents in all parts of the Kingdom.
The minister pointed out that the capital of licensed investment projects registered during the first half of 2017 increased by 130 percent, while 158 projects were licensed with a capital of SR3.258 billion ($868.7 million), compared to 127 projects with a capital of SR 1.392 billion during the first half of 2016.
“Work is underway to facilitate all procedures, and review legislation to stimulate the investment environment,” he added.
Congratulating King Salman and Crown Prince Mohammed bin Salman on the country’s National Day, Al-Qassabi said the precious anniversary will mark the beginning of the acceleration of bettering the legislative environment, business performance, system development, enhance technical and procedural integration, and support the investment environment.
“The system of bankruptcy, the commercial mortgage system, franchise system and e-commerce system have been already completed,” he noted.
The minister said his ministry set up a business improvement committee to launch the initiative for business practices, “Meras,” to improve the investment environment in the Kingdom
The “Meras” initiative aims to increase the contribution of the private sector to the Kingdom’s GDP, also to boost the national economy, for the realization of the Kingdom’s Vision 2030.
The main components of this initiative include “Meras” comprehensive service centers, “Meras” e-platform, consolidated access to business services, the interactive business startup guide, providing basic services from the private sector such as opening a bank account for the enterprise.
The ministry has also launched a business licensing guide for business activities, which, in its first phase, comprises 274 services provided by 26 government agencies.
As part of the integration with government agencies to improve business, he said that regulations were approved allowing foreign investors to obtain business visit visas within 24 hours and visit Saudi Arabia. It is also possible to issue immediate licenses for more than 200 activities from the Ministry of Municipal and Rural Affairs, which controls and opens the field of foreign investment to full ownership in the education and health sectors, he concluded.
Commerce minister: Saudi Arabia is on track in trade and investments
Commerce minister: Saudi Arabia is on track in trade and investments
Pakistan, Saudi Arabia explore joint investment push in high-growth regions
- Both sides discuss combining Pakistan’s production capacity with Saudi capital and regional market access
- Government says Saudi side expressed interest in corporate farming in Pakistan, particularly in rice sector
KARACHI: Pakistan and Saudi Arabia are looking to jointly tap high-growth regional markets and align production and capital strengths, according to an official statement on Wednesday, following talks between Commerce Minister Jam Kamal Khan and Saudi Investment Assistant Minister Ibrahim Al-Mubarak in the Kingdom.
The two countries have long maintained close bilateral ties that have evolved into a multidimensional strategic partnership.
In October last year, the two countries launched an Economic Cooperation Framework aimed at shifting relations beyond aid toward sustainable trade, investment and development links. The framework followed the signing of a joint security agreement a month earlier, under which aggression against one would be treated as an attack on both.
“A key focus of the discussion was the joint exploration of regional markets, particularly Central Asia, Africa, and ASEAN, identified as high-growth regions offering significant opportunities for collaboration,” according to a statement circulated by Pakistan’s commerce ministry after the meeting.
“The two sides agreed that Pakistan and Saudi Arabia, by leveraging their respective strengths, can position themselves as complementary partners — combining Pakistan’s production capabilities with Saudi Arabia’s capital strength, market access, and regional connectivity,” it added.
The Saudi side expressed interest in corporate farming in Pakistan, particularly in the rice sector, with discussions covering mechanization, storage and logistics to enable consistent, long-term exports under structured arrangements.
Talks also covered broader cooperation in agriculture and food security, including rice, fodder, meat and other agri-products, with the potential involvement of Saudi financing institutions in supporting export-linked agricultural and infrastructure projects.
Corporate farming and mechanization were discussed as long-term solutions to productivity challenges in crops such as cotton, where declining yields and high manual input costs have hurt competitiveness, the statement said.
Human resource development emerged as another area of focus, with both sides noting shortages in mid-tier skills such as nurses, caregivers, technicians and hospitality staff.
The Saudi side expressed openness to replicating vocational “train-to-deploy” models in Pakistan that link training programs directly with overseas employment opportunities.
The meeting also examined opportunities in building materials, pharmaceuticals, sports goods, footwear and light manufacturing, with both sides agreeing to pursue sector-specific workshops and business-to-business engagements to translate policy alignment into tangible trade and investment flows.
