LONDON: Retailers, insurers and car hire companies are among the potential winners from the decision to allow women to drive in Saudi Arabia.
Investors inside and outside the Kingdom are today assessing the impact of the momentous move on the Kingdom’s $650 billion economy.
Saudi Arabia on Tuesday said it would allow women to drive in the Kingdom, in the latest of a string of social and economic reforms in the country as it seeks to modernize.
Analysts expect it will produce a massive economic windfall as more women are able to enter the workplace with the trickledown providing a boost for everything from the insurance sector to banks.
“We see long term support for growth in retailers and sellers of discretionary items, due to increased mobility and employment among women in Saudi Arabia,” said Mohammad Kamal, a director at Arqaam Capital.
Among the companies picked by Arqaam as potential beneficiaries are Fawaz Al Hokair, one of the leading retail conglomerates in the country.
Tawuniya, the insurance group is also set to cash in as the potential pool of insurable drivers doubles.
Other publicly traded companies picked by Arqaam include Saudi Budget, Saudi Marketing, Al Othaim, Al Rajhi and Axa.
Abu Dhabi based NBAD Securities also sees Al Hokair as a potential winner as well as retailer Jarir.
“Insurance stocks were surging yesterday, when the market first learned of the official announcement, as demand for auto insurance coverage is expected to increase,” said Sanyalaksna Manibhandu, head of research at NBAD Securities in Abu Dhabi.
“Other industry sectors that could benefit include banks, in the event that the demand for auto loans increase. On the flip side, male chauffeurs may need to find new jobs as female passengers become drivers. If the decree merely leads to the replacement of a chauffeur by the passenger, auto dealers may not see demand increase as much as they would like.”
The economic empowerment of women in the Kingdom is seen as a crucial part of that process.
King Salman issued the decree, according to a royal court statement carried by the Saudi Press Agency (SPA).
“The royal decree will implement the provisions of traffic regulations, including the issuance of driving licenses for men and women alike,” the SPA said.
The decree highlighted the “negative effects of not allowing women to drive vehicles.”
Saudi Arabia’s ambassador to the US, Prince Khaled bin Salman, described the decision of allowing women to drive as a “huge step.”
Investors pick winners from end of Saudi women driving prohibition
Investors pick winners from end of Saudi women driving prohibition
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First EU–Saudi roundtable on critical raw materials reflects shared policy commitment
RIYADH: The EU–Saudi Arabia Business and Investment Dialogue on Advancing Critical Raw Materials Value Chains, held in Riyadh as part of the Future Minerals Forum, brought together senior policymakers, industry leaders, and investors to advance strategic cooperation across critical raw materials value chains.
Organized under a Team Europe approach by the EU–GCC Cooperation on Green Transition Project, in coordination with the EU Delegation to Saudi Arabia, the European Chamber of Commerce in the Kingdom and in close cooperation with FMF, the dialogue provided a high-level platform to explore European actions under the EU Critical Raw Materials Act and ResourceEU alongside the Kingdom’s aspirations for minerals, industrial, and investment priorities.
This is in line with Saudi Vision 2030 and broader regional ambitions across the GCC, MENA, and Africa.
ResourceEU is the EU’s new strategic action plan, launched in late 2025, to secure a reliable supply of critical raw materials like lithium, rare earths, and cobalt, reducing dependency on single suppliers, such as China, by boosting domestic extraction, processing, recycling, stockpiling, and strategic partnerships with resource-rich nations.
The first ever EU–Saudi roundtable on critical raw materials was opened by the bloc’s Ambassador to the Kingdom, Christophe Farnaud, together with Saudi Deputy Minister for Mining Development Turki Al-Babtain, turning policy alignment into concrete cooperation.
Farnaud underlined the central role of international cooperation in the implementation of the EU’s critical raw materials policy framework.
“As the European Union advances the implementation of its Critical Raw Materials policy, international cooperation is indispensable to building secure, diversified, and sustainable value chains. Saudi Arabia is a key partner in this effort. This dialogue reflects our shared commitment to translate policy alignment into concrete business and investment cooperation that supports the green and digital transitions,” said the ambassador.
Discussions focused on strengthening resilient, diversified, and responsible CRM supply chains that are essential to the green and digital transitions.
Participants explored concrete opportunities for EU–Saudi cooperation across the full value chain, including exploration, mining, and processing and refining, as well as recycling, downstream manufacturing, and the mobilization of private investment and sustainable finance, underpinned by high environmental, social, and governance standards.
From the Saudi side, the dialogue was framed as a key contribution to the Kingdom’s industrial transformation and long-term economic diversification agenda under Vision 2030, with a strong focus on responsible resource development and global market integration.
“Developing globally competitive mineral hubs and sustainable value chains is a central pillar of Saudi Vision 2030 and the Kingdom’s industrial transformation. Our engagement with the European Union through this dialogue to strengthen upstream and downstream integration, attract high-quality investment, and advance responsible mining and processing. Enhanced cooperation with the EU, capitalizing on the demand dynamics of the EU Critical Raw Materials Act, will be key to delivering long-term value for both sides,” said Al-Babtain.
Valere Moutarlier, deputy director-general for European industry decarbonization, and directorate-general for the internal market, industry, entrepreneurship and SMEs at European Commission, said the EU Critical Raw Materials Act and ResourceEU provided a clear framework to strengthen Europe’s resilience while deepening its cooperation with international partners.
“Cooperation with Saudi Arabia is essential to advancing secure, sustainable, and diversified critical raw materials value chains. Dialogues such as this play a key role in translating policy ambitions into concrete industrial and investment cooperation,” she added.
