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The Ministry of Industry and Mineral Resources and the Ministry of Investment have announced an extension of the application period for Phase Two of the Exploration Enablement Program. Companies may now submit their application until May 1, 2025, extending the deadline from the previously announced date of April 1, 2025.
This extension aims to provide additional opportunities for both local and international mining companies to participate in the program, contributing to the accelerated discovery and development of mineral resources across the Kingdom.
According to a Ministry of Industry and Mineral Resources press release, the application evaluation phase will take place between May 1 and May 31, 2025, followed by the approval stage, framework agreement signing, and announcement of selected companies, which will run from June 1 to July 31, 2025.
The Mining Exploration Enablement Program seeks to strengthen exploration activities, enhance the mining sector’s contribution to the national economy, and expand the scope of geological exploration, particularly in underexplored regions.
The program also supports the development of local talent and capabilities, while improving geological knowledge through the provision of modern, high-quality data aligned with international standards — thereby supporting investors and stakeholders in the mining sector.
Participation in the program requires meeting a set of criteria defined by the ministry, including a focus on Category A strategic minerals (such as copper, lithium, nickel, gold, and iron) as outlined in the Mining Investment Law Prioritization of previously unexplored areas, holding a valid exploration license, demonstrating a strong track record in mineral exploration, a commitment to utilizing local service providers, supporting the growth of domestic businesses and strengthening local supply chains.
The second phase of the Exploration Enablement Program was launched in January 2025, in partnership with the Ministry of Investment, with the objective of reducing early-stage exploration risks and attracting greater investment into Saudi Arabia’s mineral sector.
As part of its broader strategy, the Ministry of Industry and Mineral Resources also announced during the Fourth Future Minerals Forum the offering of 50,000 square kilometers of mineralized belts rich in gold, copper, and zinc. This move underscores the Kingdom’s continued efforts to foster a transparent and globally competitive investment environment aligned with the goals of Vision 2030.
Interested companies can download the guideline and the application from via the Taadeen platform at: https://taadeen.sa/en/exploration-enablement-program.

Liquidity levels (available money) in the Saudi economy have experienced robust growth, reaching their highest by the end of February 2025 at SAR3.033 trillion. According to the Saudi Central Bank (SAMA) monthly statistical bulletin, liquidity recorded an annual increase of SAR277.49 billion, representing a growth rate of 10.1% from SAR2.756 trillion in the same period in 2024. This strong performance is reflected in the broad money supply (M3).
Monthly liquidity levels grew by SAR67.543 billion, a 2.3% increase compared to the end of January of this year, when levels stood at SAR2.966 trillion. Such liquidity levels drive and support economic and trade ecosystem and contribute to growth rates in the economic development trajectory.
Examining the four components of the broad money supply (M3), demand deposits constituted the largest share, accounting for 48.5% or SAR1.47 trillion at the end of February. Time and savings deposits followed, contributing 34% with a value of SAR1.031 trillion. Quasi-cash deposits accounted for 9.7% of the total money supply, reaching SAR293.683 billion. Currency in circulation outside banks came last, contributing 7.8% with a value of SAR 237.905 billion.
Quasi-cash deposits encompass residents’ deposits in foreign currencies, deposits secured by letters of credit, ongoing transfers, and repurchase agreements (repos) conducted by banks with the private sector. Domestic liquidity comprises money supply M1, which includes currency in circulation outside banks along with demand deposits exclusively; money supply M2, consisting of M1 plus time and savings deposits; and broad money M3, encompassing M2 along with other quasi-cash deposits.
Source: SPA

The first-ever Sports Investment Forum (SIF), held in Riyadh over three days, concluded today under the patronage of the Ministries of Sports and Investment, with participation of decision-makers, investors, and experts from 20 countries.
The forum attracted significant attendance, with over 2,800 participants, more than 3,500 participants in workshops, and over 30 million digital views of content related to the event, reflecting the growing local and international interest in transforming sports into a vital economic sector.
The forum highlighted opportunities in privatization, infrastructure development, and investment in media and e-sports, affirming that Saudi sport is steadily advancing towards becoming a sustainable economic contributor, as part of the Saudi Vision 2030 goals.
During the forum, more than 60 investment agreements were signed, with participation from over 50 entities and strategic partners. Over 50 sessions and workshops were organized, featuring 140 international and local speakers, creating a rich dialogue platform to shape the future of sports in the Kingdom.
The organizing bodies said that the inaugural SIF is just the beginning of a series of upcoming forums that will continue to support the sports investment movement and enhance the Kingdom’s position as a global hub for the sports industry.
Source: SPA

Riyadh, April 08, 2025, SPA — Saudi Arabia has achieved a new global milestone in artificial intelligence, as highlighted in the AI Index Report 2025 by Stanford University’s Institute for Human-Centered Artificial Intelligence (HAI). In addition to leading globally in women’s empowerment in AI—based on the female-to-male ratio—the Kingdom made significant progress in AI job growth, talent attraction, and the development of leading AI models.
The Stanford AI Index is a trusted international reference for policymakers, researchers, and industry experts seeking to understand the current state and emerging trends of AI worldwide.
Saudi Arabia ranked first globally in empowering women in the field of AI, reflecting the success of ambitious national policies and initiatives aimed at promoting women’s participation and leadership in the technology sector. This achievement is aligned with Saudi Vision 2030 and is supported by advanced training programs and professional development initiatives, which have enhanced the presence of female talent in the Kingdom’s AI ecosystem.
The Kingdom also ranked third globally in AI job growth for 2024 and fourth in the number of leading AI models. According to the report, Saudi Arabia is among seven countries that have published advanced AI models, alongside the United States, China, France, Canada, and the Republic of Korea.
Saudi Arabia placed eighth globally in attracting AI talent, underscoring its growing appeal as a hub for innovation and its ability to foster a stable, supportive environment for research and development in the field.
These accomplishments reflect the Kingdom’s strategic efforts to establish global leadership in AI, led by the Saudi Data and Artificial Intelligence Authority (SDAIA). By building national capabilities, advancing policy frameworks, promoting investment, and driving innovation, SDAIA continues to elevate the Kingdom’s standing in data and AI. The authority also focuses on strengthening digital infrastructure and accelerating the adoption of AI technologies across key sectors to fulfill the goals of Vision 2030.
In the area of women’s empowerment, SDAIA has implemented several high-impact initiatives. Among them is the “Elevate” program—developed in partnership with Google Cloud—which aims to empower more than 25,000 women in technology and AI fields. Additional efforts include specialized training camps and capacity-building programs that have positioned Saudi women to lead locally and internationally in AI.
Source: SPA

S&P Global Ratings has upgraded Saudi Arabia’s long-term sovereign credit rating to ‘A+’, citing the Kingdom’s sustained socioeconomic and capital market reforms under Vision 2030.
The outlook remains stable, reflecting strong non-oil growth and robust investment momentum.
The upgrade highlights Saudi Arabia’s improving institutional framework, governance effectiveness, and economic diversification.
The recalibration of infrastructure investments and a disciplined approach to capital markets have strengthened fiscal resilience, aligning the country with its highly rated global peers.
Despite lower oil revenues, government initiatives to boost investment and consumer spending are expected to drive economic expansion.
S&P projects Saudi Arabia’s real GDP to grow at an average of 4% from 2025 to 2028, supported by thriving non-oil sectors such as tourism, manufacturing, logistics, and green energy.
The Public Investment Fund (PIF) continues to play a key role, investing $40 billion annually in domestic projects.
Meanwhile, tourism’s contribution to GDP has surged, employment opportunities — particularly for women — are expanding, and real estate and entertainment sectors are flourishing.
While the fiscal deficit is projected to widen due to large-scale development projects, Saudi Arabia’s sovereign balance sheet remains robust, with net government assets expected to stay at about 32% of GDP by 2028.
Additionally, the Kingdom is set to maintain a net external creditor position, reinforcing economic stability.
Source: Saudi Gazette

The General Authority for Statistics (GASTAT) issued the International Trade Statistics Publication for December 2024. According to the results, non-oil exports recorded an increase of 18.1% compared to December 2023. The value of re-exported goods also increased by 23.4% during the same period. However, merchandise exports decreased by 2.8% in December 2024, while imports  increased by 27.1% compared to December 2023.
The results indicated that “chemical industry products” are among the most important non-oil export goods, accounting for 25.9% of total non-oil exports.
Furthermore, the results of the International Trade Publication for Q4 of 2024 showed a 17.3% increase in non-oil exports (including re-exports) compared to Q4 of 2023. National non-oil exports (excluding re-exports) increased by 8.2%, while the value of re-exported goods increased by 47.3% during the same period. However, merchandise exports in Q4 of 2024 decreased by 6.1% compared to the same period in 2023, mainly due to a 13.3% decrease in oil exports. The share of oil exports in the total exports decreased from 76.4% in Q4 of 2023 to 70.5% in Q4 of 2024.
Regarding imports, there was a 15.5% increase in Q4 of 2024. In terms of trade balance, the surplus decreased by 52.4% from Q4 of 2023.
It is worth noting that international trade statistics rely on administrative records from the Zakat, Tax, and Customs Authority (non-oil) and the Ministry of Energy (oil). The Kingdom’s merchandise exports and imports are classified according to the Harmonized Commodity Description and Coding System 2022
Source: GASTAT

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, chaired the Cabinet session held here today.
Al-Dossary stated that the Cabinet deemed the Kingdom’s prominent position among the top ten global markets for battery energy storage, coinciding with the start of operations at the 2000-megawatt-hour-capacity Bisha project, as a testament to the transformation underway within the energy sector, further solidifying the Kingdom’s leadership in energy production and export.
The Cabinet acknowledged the success of the fourth LEAP25 conference, which was held in Riyadh under the theme “Into New Worlds” and featured the announcement of over $14.9 billion in investments and launches. The conference aimed at fostering innovation in digital and technological infrastructure, supporting research and development, advancing artificial intelligence, and promoting cloud computing.
The Cabinet commended the opening of regional headquarters for 600 international companies within the Kingdom, underscoring the global recognition of Saudi Arabia’s economic stability, promising growth trajectory, and strategic geographic location, further bolstered by the presence of exceptional talent and expertise.
Source: SPA

Saudi Aramco showcased investment opportunities in the public and private sectors on Wednesday during the Al Ahsa Forum 2025, organized by Al-Ahsa Chamber.
The event saw the participation of ministers, officials, experts, consultants, and a distinguished group of local and international company executives, chief executive officers, and business leaders. As the strategic partner of the forum, Saudi Aramco aims to highlight investment opportunities across both sectors. The forum serves as a platform to promote investment in Al Ahsa while showcasing the company’s role in supporting energy-sector investments and driving economic development in Saudi Arabia, particularly in Al Ahsa.
President and Chief Executive Officer of Saudi Aramco Eng. Amin Hassan Al-Nasser emphasized in his speech that Al Ahsa holds a deep-rooted history, rich land, and distinguished people, making it an integral part of Aramco’s legacy, just as the company is a key part of Al Ahsa’s history. He noted that for decades, the region has hosted some of Aramco’s most significant operations.
Eng. Al-Nasser highlighted that Aramco has expanded its mega projects and strategic initiatives in Al Ahsa in recent years to boost investment opportunities, generate jobs, and contribute to GDP growth and economic activity. He described Jafurah Field, located in Al Ahsa, as the “crown jewel” of shale gas fields and the largest shale gas field under development in the Middle East.
He stated that total investment in the Jafurah project exceeds $100 billion over the next 15 years, with an expected contribution of $23 billion annually to Saudi Arabia’s GDP. Eng. Al-Nasser emphasized the project’s strategic importance for the Kingdom under Saudi Vision 2030 and for Aramco’s goal of increasing gas production capacity by over 60 percent by 2030.
The Jafurah Field is projected to reach a production capacity of 2 billion standard cubic feet per day of marketable gas by 2030, strengthening Saudi Arabia’s position as a key global gas producer.
Eng. Al-Nasser also underscored Aramco’s environmental efforts, emphasizing the company’s long history of environmental protection through innovative projects and initiatives. He pointed to Aramco’s collaboration with King Faisal University to establish a Nature-Based Solutions Center and the launch of research projects on mangrove trees in Saudi Arabia. These initiatives align with Aramco’s commitment to combating climate change and supporting both the Saudi Green Initiative and the Middle East Green Initiative.

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, has designated “King Salman Automotive Cluster” as the official name of the cluster for automotive manufacturing activities, located within King Abdullah Economic City (KAEC).
The hub will be a crucial step in Saudi Arabia’s economic diversification and will be an enabler for the automotive sector and sustainable transportation, contributing to raising non-oil GDP and increasing exports. The cluster enhances the automotive sector in Saudi Arabia by accelerating the growth of local capacity in manufacturing and sector-related research and development, and by making supply chains to serve regional and international markets more efficient.
King Salman Automotive Cluster will be a major center for the automotive sector and will have headquarters and factories for local and international companies. Notable companies include Ceer, the first Saudi electric car brand, and Lucid Motors, which opened its first international factory in KAEC in 2023. It will also host several PIF joint projects with global manufacturers, including Hyundai Motor – establishing a highly automated factory for manufacturing cars in Saudi Arabia – and a joint venture agreement with Pirelli to establish a tire factory locally.
The cluster aims to create optimal investment opportunities for the private sector to develop promising sectors in Saudi Arabia. It is expected that the cumulative GDP contribution from companies operating in King Salman Automotive Cluster will reach approximately SAR 92 billion by 2035. The cluster will also contribute to the creation of many direct and indirect jobs, support the local manufacturing sector, and increase Saudi exports to regional and global markets, which will positively impact the national balance of payments.
King Salman Automotive Cluster will leverage the supportive environment and investment incentives provided by KAEC, including its logistical infrastructure, and its proximity to a highly developed port in a vital location for global trade. These factors will provide opportunities for the local private sector and international companies to engage as partners, suppliers, and investors in the automotive sector and its related services.
The new King Salman Automotive Cluster will contribute to achieving Saudi Vision 2030, which aims to diversify the economy and achieve sustainable growth. The cluster will also be a major contributor to fulfilling the aims of the National Industrial Development and Logistics Program, which seeks to position Saudi Arabia as a leading industrial nation and a global logistics center by developing high-growth sectors locally and attracting foreign investment. This is in addition to supporting the objectives of national strategies for industry, transport and logistics.
Automotive and mobility is one of PIF’s strategic investment sectors, highlighted by partnerships with the private sector. PIF’s portfolio has several investments with the aim of enhancing the industry’s infrastructure and developing the sector’s local supply chain capacity. PIF is also contributing to enhancing local expertise and technology through joint ventures with major international manufacturers.
Source: SPA

The Madinah Investment Forum, organized by Al-Madinah Al-Munawwarah Chamber under the theme “Invest in Madinah”, will start tomorrow and run for two days.
The forum consists of a diverse range of programs, events, and four specialized dialogue sessions focusing on key aspects of the national investment strategy. It will host 18 speakers and more than 40 entities, and present 200 investment opportunities, valued at over SAR57 billion, in more than ten targeted sectors.
The event will highlight Madinah’s significant achievements and showcase development and investment projects in the region. It will explore promising investment sectors, comparative and competitive advantages, and the region’s potential to support investment growth. Key areas of focus include hospitality, logistics, agriculture, and real estate.
The forum’s objectives include identifying investment opportunities in Madinah, fostering investment partnerships, attracting new investments, and introducing financing solutions and business sector services for major development projects.
The event is aimed at a broad audience, including local and international investors, government agencies, development organizations, private sector representatives, investment agencies, financial institutions, consulting firms, and professional service providers.
Source: SPA