Saudi Round-Up: Mining and Manufacturing Draw Foreign Investment Wave
Dive into this week's roundup to find out more about emerging opportunities in public consultation, logistics, and the mining sector.
From 25 February to 03 March 2025
General Business and Economy
Saudi Arabia Ranks Highest in Global Trust and Future Outlook
Saudi Arabia leads the world in government trust, with 87% of citizens expressing confidence in their leadership, according to the 2025 Edelman Trust Barometer.
Additionally, the Kingdom leads in future outlook, with 69% of its population believing the next generation will be better off. This optimism contrasts with lower confidence levels worldwide.
Saudi Arabia’s Non-Oil Exports Surge 17.3% in Q4 2024
Saudi Arabia's non-oil exports grew 17.3% to SAR82.05 billion ($21.88 billion) in Q4 2024, with re-exports soaring 47.3%. Total imports rose 15.5% to SAR233 billion, while exports declined 6.1% to SAR277.9 billion, bringing the overall trade volume to SAR510.9 billion.
China remained Saudi Arabia’s top trading partner for exports and imports, while the King Abdulaziz Sea Port in Dammam handled the highest volume of inbound shipments.
Sports Boulevard Opens Five New Destinations in Riyadh
Riyadh’s Sports Boulevard project has launched five new destinations, including Wadi Hanifah, the Promenade, the Arts Tower, a loop track at Princess Nourah University, and the Sands Sports Park. The expansion brings the project’s total length to 83 km, with 40% of the development completed.
These destinations promote an active lifestyle with cycling paths, walking trails, and green spaces. As part of Vision 2030, the project enhances Riyadh’s livability by fostering physical and social well-being.
Saudi Arabia Issues $9.27 Billion Eurobond, Launches First Green Tranche
The National Debt Management Center successfully issued a €2.25 billion ($9.27 billion) Eurobond under its Global Medium-Term Note Issuance Programme.
For the first time, Saudi Arabia included a green tranche, valued at €1.5 billion and maturing in 2032, reinforcing its commitment to sustainability. The second tranche of €750 million will mature in 2037.
Automotive
Saudi Arabia Expands Vehicle Production with 300 New Factories
Automotive manufacturers—including Ceer, Lucid, and Hyundai—are set to increase factory coverage in Saudi to 300, producing essential components to support local car manufacturing.
By developing a robust supply chain, the Kingdom aims to attract investments, create jobs, and reduce dependence on imports, aligning with Vision 2030’s economic diversification goals.
Aviation
Red Sea Global Introduces Sustainable Aviation Fuel
Red Sea Global (RSG) has introduced Sustainable Aviation Fuel (SAF) at Red Sea International Airport, cutting carbon emissions from air travel by up to 35%. The fuel blend, consisting of 35% SAF and 65% Jet A1, meets international sustainability standards and will be used by airlines operating at the airport.
This initiative aligns with Saudi Arabia’s broader environmental goals, supporting greener tourism and reducing the aviation sector’s carbon footprint.
Saudi to Partner with US Firm to Manufacture Flying Taxis
Saudi Arabia is partnering with a US company to manufacture and export flying taxis. Doroni Aerospace secured a $30 million investment from Kingdom Aero Industries (KAI) to develop the H1-X, a personal eVTOL aircraft that can take off vertically and be charged at home. The deal includes a joint venture to produce the aircraft in Saudi Arabia starting in 2027.
KAI will co-own and finance production while gaining a 40% stake in Doroni. The investment will be made in stages, with $5 million upfront and $25 million tied to development milestones.
Saudi Launches Aviation Cluster in Jeddah to Strengthen Supply Chains
The Saudi Authority for Industrial Cities and Technology Zones (MODON) has unveiled an aviation industries cluster in Jeddah, spanning 1.2 million square meters. Developed in partnership with the Ministry of Industry and GACA, the initiative aims to localize advanced aviation technologies.
Located near King Abdulaziz International Airport and Jeddah Islamic Port, the cluster is designed to attract investment and enhance supply chains. It will house specialized factories and provide infrastructure to support the aviation sector, a key driver of industrial growth.
New Direct Flights Strengthen UK-Saudi Air Connectivity
A new direct route between London Gatwick and Madinah will launch on August 2, operated by Wizz Air. The airline will provide seven weekly flights using A321 XLR aircraft, adding 173,992 low-cost seats annually.
This initiative, backed by Saudi aviation authorities, aims to boost UK tourism to Madinah and enhance its global connectivity.
As one of the world’s top 100 tourist destinations, the city continues to grow as a key entry point for international travelers exploring Saudi Arabia.
Construction
Ajdan Unveils Luxury Raseen Rejan Hills in Riyadh
Ajdan Real Estate Development has launched Raseen Rejan Hills, a high-end residential project in Riyadh’s Khuzam district, in collaboration with NHC and Retal Urban Development.
The development includes 246 luxury villas, blending modern design with sustainability, and offers top-tier amenities such as sports clubs, private pools, and green spaces.
Founding Day Celebrations Attract 80,000 Visitors
Founding Day events drew over 80,000 visitors, offering immersive experiences showcasing Saudi heritage. Activities included historical exhibits, traditional crafts, storytelling, and documentaries on Saudi cuisine and coffee, bringing the Kingdom’s cultural legacy to life.
By preserving and promoting national traditions, the event aligns with Vision 2030’s goal of strengthening Saudi identity and global cultural influence.
Entertainment
Saudi Introduces World’s First Public Esports HQ
Boulevard City has unveiled Twisted Labs, a state-of-the-art esports hub developed in collaboration with Twisted Minds. The venue features interactive gaming zones, an esports competition hall, and advanced experiences like mind-controlled games.
This initiative solidifies Riyadh’s position as a global esports hub, aligning with Saudi Arabia’s entertainment and digital economy goals. The project, backed by the General Entertainment Authority, showcases the Kingdom’s commitment to expanding its gaming industry.
Expansions
Public Consultation Opens for 18 Development Projects
As many as 18 projects are open for consultation via the Istitlaa platform. Proposals include joining the Riyadh Design Law Treaty to streamline industrial design protection and revising municipal regulations to enhance veterinary care services. Citizens, businesses, and government entities are invited to provide feedback.
Other key projects include new licensing rules for water services and intellectual property regulations on genetic resources. By fostering transparency and engagement, Istitlaa strengthens regulatory frameworks, ensuring policies align with national economic and development goals.
Johnson Arabia Enters Saudi Arabia
Johnson Arabia has entered the Saudi Arabian market to provide advanced aerial work platforms (AWP) for the Kingdom’s ambitious infrastructure projects. The company, known for its heavy-lifting solutions, is establishing facilities in Riyadh to support mega projects like NEOM, Qiddiya, and the Red Sea Project.
With a strong fleet of JLG and Genie products, Johnson Arabia is focusing on sustainability and cost-effective solutions tailored to Saudi Arabia’s needs. Its expansion aligns with Vision 2030’s push for infrastructure development, local job creation, and urbanization. The company plans to become a top-five rental provider within five years, further solidifying its regional presence.
DHL eCommerce Expands into the Saudi Market
DHL eCommerce has entered the Saudi market by acquiring a minority stake in AJEX Logistics Services. The move strengthens DHL’s presence in the region’s booming e-commerce sector, with an option to increase its stake further. The deal is still subject to regulatory approvals before final implementation.
This partnership combines DHL’s global logistics expertise with AJEX’s local network of over 50 facilities and 900 vehicles.
Spark Logistics Bolsters Supply Chain with New Partnerships
Spark Logistics has signed agreements with Gateway Logistics and DHL Global Forwarding to enhance Saudi Arabia’s supply chain. The deal with Gateway Logistics will develop manufacturing and storage facilities at the SPARK bonded zone, improving distribution efficiency for oil and gas products.
Additionally, a lease agreement with DHL Global Forwarding secures a 1,000 sq m logistics facility in Abqaiq. These developments strengthen Saudi Arabia’s logistics sector, supporting Vision 2030’s goal of positioning the Kingdom as a global trade hub.
Mining
Saudi Arabia Announces $100 Billion in Mining Investments
Saudi Arabia has unveiled a $100 billion (SR375 billion) investment plan to expand its mining sector by 2035, with SR75 billion already in progress. This initiative positions mining as a key pillar of Vision 2030, driving economic diversification and reducing reliance on oil.
The country’s mineral wealth has surged to SR9.3 trillion, attracting global investors and boosting exploration activities. With a 22-fold rise in mining firms since 2020, Saudi Arabia is cementing itself as a critical player in the global minerals market.
Trade & Investments
Saudi Arabia, Greece Strengthen Trade and Investment Ties
Saudi Arabia and Greece held a roundtable meeting in Riyadh to enhance trade and investment cooperation, particularly in construction. The event brought together key government and private-sector representatives to address challenges and explore new business opportunities.
Major Saudi entities, including PIF, NEOM, and the Federation of Saudi Chambers, participated alongside Greek companies. Strengthening economic ties aligns with Saudi Arabia’s broader Vision 2030 goals of economic diversification and global investment partnerships.
PIF Eyes Investment in Italy’s Leonardo Aerostructures Unit
Saudi Arabia’s PIF is in early discussions to invest in Leonardo’s aerostructures unit, which manufactures major aircraft components. The deal could establish a civil aviation plant in Saudi Arabia, expanding the Kingdom’s aerospace sector while supporting Leonardo’s struggling unit.
The investment follows an MoU signed last month to boost Saudi’s aerospace and defense industry. Leonardo aims to collaborate with local partners for long-term production, reinforcing Vision 2030’s goal of reducing oil dependency.
Telecommunications
Saudi Telecom’s Net Profit Soars Amid Higher Revenue
Saudi Telecom Company (stc) reported an 86% surge in net profit, reaching $6.6 billion in 2024. This remarkable growth was driven by a 5.7% increase in revenue, totaling $20.2 billion. The growth was fueled by stronger performance across its subsidiaries and a significant profit boost from the sale of its telecom infrastructure assets.
This financial success strengthens Saudi Arabia’s digital economy, a core pillar of Vision 2030. stc’s collaboration with Amazon Web Services (AWS) further advances the Kingdom’s AI and cloud capabilities, supporting growth in the healthcare, finance, and government sectors.
MICE (meetings, incentives, conferences, and events industry)
Makkah Halal Forum to Strengthen Saudi Arabia’s Global Halal Leadership
The Makkah Halal Forum 2025, themed "Sustainable Development through Halal," will bring together industry leaders to discuss innovation, standards, and investment opportunities. Over 150 exhibitors from 15 countries will participate, highlighting Saudi Arabia’s strategic role in the global halal market.
The forum reinforces the Kingdom’s ambition to become a leading halal industry hub, boosting economic diversification and trade.
