MUST-READS

• China and Saudi Arabia: A Deepening Strategic Partnership

  Increasing political, strategic, and economic engagements with the Middle East and North Africa (MENA) region has been a notable feature of Chinese foreign policy, especially since the launch of its flagship Belt and Road Initiative (BRI) in 2013. One of the key countries with which China has strengthened its engagement is Saudi Arabia. The kingdom is an important regional power, with influence in the Arab-Islamic world as well as in the global energy market. In December 2022, during a visit by Chinese President Xi Jinping to Riyadh, the two countries signed a comprehensive strategic partnership agreement that underlined the growing Chinese inroads into a region that has traditionally been regarded as an American sphere of influence.^[1] The China-Saudi Arabia strategic partnership has the potential to impact the geopolitical makeup of the entire region, which is part of India’s extended neighbourhood.

• Al-Falih: 571 global companies moved their headquarters to Saudi Arabia

  Minister of Investment Eng. Khalid Al-Falih said that the initiative of moving regional headquarters of global companies to Saudi Arabia is proceeding steadily well in a way accomplishing its goals. “The number of international companies licensed to establish their headquarters and moved to the Kingdom has reached 571, most of which have opened their offices in the King Abdullah Financial Center in Riyadh. The largest share of them are industrial companies, and incentives will be provided to these companies through various programs,” he said.

• Newlab Expands to the Kingdom of Saudi Arabia to Catalyze Critical-Tech Ecosystem and Accelerate Startup-Led Economic Growth

  Newlab Riyadh will attract leading critical-tech startups to KSA and accelerate commercialization outcomes that will translate into measurable economic impact in the Kingdom and broader region. Newlab Riyadh joins Newlab’s growing network of hubs around the world, including Newlab Brooklyn, Newlab Detroit, and Newlab Montevideo. Newlab will establish an initial beta space in Riyadh in 2025 to serve as an anchorpoint for the founding startup ecosystem while commencing development of a larger hub which is slated to open in 2026.

• UK to sign critical minerals partnership with Saudi Arabia
  Britain will sign a minerals cooperation partnership with Saudi Arabia that could help strengthen supply chains, create opportunities for British businesses and attract investment into the UK, the British government said on Tuesday. Britain needs a secure, long-term supply of critical minerals, such as copper, lithium and nickel, which are used to make smartphones and electric cars, but are also vital to build data centres that help develop artificial intelligence systems. On its part, Saudi Arabia, which estimates the value of its untapped mineral resources at $2.5 trillion, is aiming to become a major global hub for critical minerals trade.

• Saudi EXIM is the Strategic Partner of the FUTURE MINERALS FORUM 2025

  The Saudi Export-Import Bank (Saudi EXIM) will participate as a strategic partner in the 4th edition of the FUTURE MINERALS FORUM 2025, organized by the Ministry of Industry and Mineral Resources. The event will take place from January 14 to 16 at the King Abdulaziz International Conference Center in Riyadh, under the theme: “Year of Impact." Saudi EXIM's partnership aims to support and empower the mining sector, and stimulate investment opportunities through active participation in panel discussions, the exhibition, and by showcasing its financing and credit solutions. These initiatives are specifically designed to enhance the global reach and growth of Saudi mining and mineral exports.

• How to start a business in Saudi Arabia for foreigners

  The Ministry of Investment is the primary authority guiding and regulating investments in Saudi Arabia. It facilitates investment licenses and provides comprehensive information about opportunities, incentives, guarantees, and legal frameworks. Saudi Arabia is a land of opportunity for foreign investors, offering a dynamic business environment shaped by Vision 2030. This transformative initiative aims to diversify the Kingdom's economy and foster sustainable development. With comprehensive reforms and government support, the process of establishing a business in Saudi Arabia has become more accessible. Al Othman Lawyers & Consultants, with years of experience, is a trusted partner for foreign investors navigating this journey.

• What’s behind Egypt and China’s ‘golden decade’ of partnership

  The beginning of 2025 marked the end of the “Year of the Egyptian-Chinese Partnership” and closed out the “golden decade”: A ten-year period during which Egypt and China grew their bilateral relationship as part of their efforts to deepen their comprehensive strategic partnership. Given the trajectory of the relationship over the past ten years, expect to see a larger Chinese presence in Egypt—a country that has long been one of the United States’ most important allies in the Middle East.  The 2024 partnership year ended with Egyptian Foreign Minister Badr Abdelatty visiting Beijing on December 13 for a meeting with his counterpart, Chinese Foreign Minister Wang Yi. This came shortly after Egyptian Prime Minister Mostafa Madbouly’s visit to Beijing in September to attend the Forum on China-Africa Cooperation. While there, a delegation from the Suez Canal Economic Zone (SCZone) signed one billion dollars’ worth of contracts and memoranda of understanding with Chinese companies.

• Saudi Arabia, Already Pumping Money Into Boxing, May Start League With TKO

  The potential investment in TKO follows a Saudi Arabian effort in June to create a multibillion-dollar boxing league that would aim to unite the world’s best boxers, who for decades have been divided by rival promoters and fighting for titles controlled by an alphabet soup of sanctioning bodies. That effort, while not completely abandoned, had proved complicated and expensive, even for a country like Saudi Arabia, which for the past half decade has disbursed billions to become a player across some of the world’s biggest sports.

• Saudi leadership offers condolences to Chinese president for earthquake victims

  King Salman and Crown Prince Mohammed bin Salman expressed their condolences in separate messages to Chinese President Xi Jinping regarding the victims of the earthquake that hit Dingri County in the Xizang Region of southwest China. The Saudi leadership extended heartfelt condolences and sincere sympathy to the Chinese president and the families of those who died in the natural disaster, wishing a speedy recovery to the injured. On Tuesday, a 6.8-magnitude earthquake hit southwest China, leaving more than 120 people dead and over 100 injured.

• Saudi startup funding tumbles as era of cheap money ends

  Funding for startups in Saudi Arabia dropped 44 percent to $750 million last year, the sharpest decline in the Middle East and North Africa, according to data analyst Magnitt. Across Mena, venture capital was down 29 percent to just under $2 billion, reflecting global trends of high interest rates and investor caution. Saudi Arabia was the region’s leader for funding value, Magnitt said, but late-stage dealmaking – a significant driver of growth – was noticeably absent.  The UAE’s funding total dropped by 8 percent in 2024, to $613 million. The Emirates still led the region in deal count with 188 transactions – a 9 percent rise on 2023. “The decline broadly has been led by the removal of cheap money, which led to overvaluations and too much rubbish in startup portfolios,” said Bhaskar Dasgupta, chairman of the board at financial services provider Apex Middle East & India.

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