Saudi manufacturing sector firms top Forbes Middle East’s Sustainability Leaders’ list 

Among the 100 companies featured on Forbes Middle East’s list, 44 are based in the UAE, 22 hail from Saudi Arabia, and 10 represent Qatari businesses. Supplied
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Updated 05 November 2023
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Saudi manufacturing sector firms top Forbes Middle East’s Sustainability Leaders’ list 

RIYADH: Saudi Arabia’s prominent companies have been acknowledged for their environmental initiatives, securing top positions on Forbes Middle East's Sustainability Leaders list.  

Saudi Basic Industries Corp. and Saudi Arabian Mining Co., also known as Ma’aden, have emerged as leaders in the sector.   

The manufacturing and industrial field is one of 11 key industries categorized, with SABIC taking the top spot, followed by Ma’aden.  

Tasnee, the Kingdom’s National Industrialization Co., secured the eighth spot on the list. 

In the energy and utilities category, Saudi Arabia’s ACWA Power ranked second, following UAE-based Industrialization and Energy Service Co., known as TAQA. 

Saudi Electricity Co. clinched the fourth spot, following Dubai Electricity and Water Authority. 

Saudi banks also played a pivotal role, with Al Rajhi Bank coming third in the banking and financial services category, followed by Saudi National Bank in fifth place, Saudi Awwal Bank in seventh, and Alinma Bank in ninth. 

The Kingdom’s ambitious $500-billion giga-project NEOM topped the real estate and construction category, followed by Red Sea Global in fifth place, and the Kingdom’s Public Investment Fund wholly-owned ROSHN Group in seventh. 

stc Group ranked first on the technology and telecom list, receiving the Forbes ME Sustainability Leaders Award for its efforts in promoting eco-friendly practices and reducing carbon emissions in various areas. 

In the top 10 travel and tourism companies, Saudia, formerly known as Saudi Arabia Airlines, ranked sixth. 

On the investment front, the Kingdom’s PIF secured the second position, following the UAE’s Mubadala Investment Co. 

Forbes ME’s list of 100 companies includes 44 UAE-based firms, 22 Saudi companies, and 10 Qatari-based businesses.  

Additionally, 12 international corporations with regional offices in the UAE and Egypt earned five entries, while Kuwait, Bahrain, and Oman also made notable appearances. 


Saudi businesses step up AI use as adoption reaches 27.6%: GASTAT 

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Saudi businesses step up AI use as adoption reaches 27.6%: GASTAT 

RIYADH: Artificial intelligence adoption among businesses in Saudi Arabia rose to 27.6 percent in 2024, reflecting a steady expansion in the use of advanced digital tools across the Kingdom’s private sector, according to official data. 

The information and communications sector recorded the highest uptake of AI technologies at 52.8 percent, followed by finance and insurance at 44.7 percent and education at 42.1 percent, the General Authority for Statistics said in its Establishments’ ICT Access and Usage Statistics 2024 report. 

This data underscores the growing digital maturity of the Kingdom’s private sector, with certain industries leading the transition toward advanced technologies.   

The professional services sector showed a notable 39.2 percent adoption rate, while other sectors, such as real estate at 28.2 percent, wholesale and retail trade at 25 percent, and manufacturing at 26 percent, reflected varying levels of engagement with AI tools.    

In contrast, sectors like construction at 25.8 percent, human health and social work at 29.9 percent, and arts, entertainment and recreation at 20.1 percent lagged behind, highlighting differences in AI integration across the economy.   

Other sectors showing moderate uptake of AI technologies include transportation and storage at 38.3 percent and mining and quarrying at 32.4 percent.   

Meanwhile, industries such as administrative and support services at 25.2 percent, and electricity and gas supply at 25.7 percent, reported lower levels of AI adoption compared to digital frontrunners.    

The report also revealed that internet access among establishments across Saudi Arabia reached 98 percent in 2024, marking a 0.3 percentage point increase over the previous year.    

Social media usage was reported by 63 percent of establishments, and 76.3 percent of businesses used internet platforms to conduct electronic banking transactions.   

In addition to AI, the adoption of cloud computing technologies grew significantly. A total of 46.8 percent of establishments reported using cloud services, with the most common uses being ready-made office applications at 53.5 percent, email services at 50.3 percent, and file storage at 41.1 percent. 

Meanwhile, Internet of Things technologies were widely employed for building security at 68.4 percent, energy management at 36.5 percent, and maintenance purposes at 21.1 percent.  

The Establishments’ ICT Access and Usage Survey is conducted using internationally aligned methodologies and follows the Statistical Business Process Guide and standards set by the UN Conference on Trade and Development, GASTAT stated.