Saudi tech sector surges with spike in AI and Cloud service registrations in Q2

According to the Ministry of Commerce’s quarterly business sector bulletin, Saudi the Kingdom issued 8,948 official identification cards for AI technologies during the second quarter, compared to 5,820 issued in the same quarter last year. Shutterstock
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Updated 07 July 2024
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Saudi tech sector surges with spike in AI and Cloud service registrations in Q2

RIYADH: The Saudi tech industry saw strong growth in the second quarter, with registrations for artificial intelligence technologies and cloud computing services rising by 53 percent and 43 percent, respectively.

According to the Ministry of Commerce’s quarterly business sector bulletin, Saudi the Kingdom issued 8,948 official identification cards for AI technologies during the second quarter, compared to 5,820 issued in the same quarter last year. Additionally, 2,358 such documents were issued for cloud computing services, up from 1,648 in the same quarter of the previous year. 

This surge aligns with Saudi Arabia’s strong global market competitiveness, as the nation ranks 16th out of 67 countries in the World Competitiveness Ranking by the International Institute for Management Development. 

Riyadh accounted for the largest share of AI technology permits with 5,492, followed by Makkah with 1,789, the Eastern Province with 939, Madinah with 254, and Asir with 115. 

The data also revealed a surge in the arts, entertainment, and leisure sector, with 20,465 commercial records issued in the second quarter of this year, up from 16,438 in the same period last year. 

In a notable expansion for the electronic games sector, the ministry recorded 336 registrations in the second quarter of this year, up from 260 in the same quarter the previous year, indicating a 29 percent growth. 

Meanwhile, there were 8,213 issuances for ground passenger transport services in cities and suburbs in the second quarter, up from 6,227 in the same period last year. 

Additionally, the short-term accommodation sector experienced a 22 percent increase, issuing 22,435 business records compared to 18,398 in the same quarter last year. 

The mining and quarrying sector recorded 7,871 registrations, up from 6,671 in the same quarter last year. 

Meanwhile, the pharmaceuticals and medical products business saw a 34 percent increase in issuance, with 1,155 commercial records issued compared to 859 in the same quarter the previous year. 

This comes as the ministry issued more than 120,000 commercial registrations in the second quarter of 2024, marking a 78 percent year-on-year increase. Specifically, a total of 121,521 official identification cards for businesses were issued during the period, up from 68,222 in the same period last year. 


Saudi Arabia’s NDF unveils strategic partners for MOMENTUM 2025 conference 

Updated 07 December 2025
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Saudi Arabia’s NDF unveils strategic partners for MOMENTUM 2025 conference 

RIYADH: Saudi Arabia’s National Development Fund has unveiled the lineup of strategic partners for the Development Finance Conference MOMENTUM 2025, as the Kingdom accelerates efforts to build a more integrated development-finance ecosystem.  

The conference, scheduled for Dec. 9–11 at the King Abdulaziz International Conference Center in Riyadh, will bring together policymakers, lenders and global development institutions as the Kingdom seeks to expand financing channels for key sectors. 

Saudi National Bank and Arab National Bank are named Main Partners, while Riyad Bank will serve as Banking Partner, NDF said in a press release.  

Bank AlJazira and Saudi Awwal Bank join as Enabling Partners, and public-sector participants include Invest Saudi, the Made in Saudi Program, and the Saudi Conventions and Exhibitions General Authority. 

Riyadh Municipality also joins the list as the host city partner, while Saudi Post is the logistics partner for the conference. 

“Collectively, these partnerships advance the conference’s vision of fostering collaboration among public and private sectors, contributing to Saudi Vision 2030 objectives,” the release said. 

Organized by NDF, this year’s conference is convened under the theme “Leading Development Transformation.” 

MOMENTUM 2025 reflects the NDF’s central role as a principal enabler of development in the Kingdom and as a strategic driver of the national development finance system through its 12 affiliated development funds and banks.  

“Through this conference, NDF aims to align efforts, amplify impact, enhance coordination and integration, and build meaningful partnerships with leaders across the public and private sectors. Together, these efforts are intended to ensure sustainable growth and empower strategic sectors to deliver on national and global development goals,” the release added.  

The program will feature more than 100 speakers from over 120 local and international entities, further underscoring the conference’s role as a national forum supporting the leadership’s vision of building a dynamic financing ecosystem that empowers key sectors. 

Several princes, ministers, senior officials, CEOs, global leaders, development experts, and economists are scheduled to attend the conference. 

The event will spotlight the contribution of the private sector and small and medium-sized enterprises in elevating the Kingdom’s economic growth, generating jobs, and boosting competitiveness.