MUST-READS

• Doing business in Saudi Arabia: new opportunities surge under Saudi Vision 2030

  For reference to KSA laws and regulations, the National Center for Archives and Records (NCAR) regularly publishes these in both Arabic and English. NCAR is tasked with the management, preservation, and organisation of KSA’s historic documents and records. The business environment in KSA is rapidly evolving, becoming more dynamic and inclusive, particularly with efforts to promote gender equality. Businesses aiming to operate in the Kingdom must adhere to and respect its Islamic culture and customs.

• Pokémon Go developer Niantic to sell gaming business to Saudi group

  Niantic Labs has announced that it’s selling its video game division to Saudi Arabia-owned mobile developer Scopely for $3.5 billion after struggling to replicate the success of Pokémon Go across its other AR games. The newly inked agreement includes Niantic’s Pokémon Go, Monster Hunter Now, and Pikmin Bloom mobile gaming titles. The acquisition is subject to regulatory approval and other closing conditions. Should the deal go through, it will also bring Niantic’s social companion apps for Pokémon Go — Campfire and Wayfarer — under Scopely ownership. Scopely says it will gain “Niantic’s entire team of exceptional gamemakers and category-leading games.” However, the Peridot and Ingress AR gaming titles, the latter of which is also supported by the Wayfarer mapping app, will remain under the ownership and development of Niantic Spatial.

• More Saudi women take the lead with over 78,000 in senior roles, 551,000 business owners

  In honor of International Women’s Day, Saudi Arabia’s General Authority for Statistics released data highlighting the increasing role of Saudi women in the workforce, leadership positions, and entrepreneurship. According to the report, Saudi Arabia is home to 9.8 million women, with 36.2% participating in the labor force as of the third quarter of 2024. The employment-to-population ratio for Saudi women reached 31.3%, reflecting steady progress in workforce inclusion. The report also shows that more Saudi women are stepping into leadership and business roles. In 2024, 78,356 Saudi women held senior management positions, while 551,318 women registered businesses in 2023. Freelancing is also on the rise, with 449,725 Saudi women obtaining freelance work permits in 2023. Meanwhile, the tourism industry saw a boost in female employment, with 111,259 Saudi women working in tourism-related jobs in 2024.

• Why businesses must bridge the ‘generational gap’ to align with Saudi’s AI ambitions

  A significant challenge lies in bridging the generational gap in AI adoption. Younger generations, particularly Gen Z, have grown up immersed in technology and tend to feel at ease leveraging AI in the workplace. Millennials, who have witnessed firsthand the transformative power of digital innovation, are close behind. In contrast, more experienced professionals, including Gen X and Baby Boomers, often express greater caution, reflecting a natural hesitancy to embrace new ways of working. This divergence is especially relevant as in the kingdom, nearly two-thirds of the population are under 30. Yet older generations still hold many decision-making roles within organisations. As companies aim to unlock AI’s transformative potential, they must address this gap, ensuring that employees across all demographics are equally equipped to harness AI’s benefits.

• 77% of Saudi businessmen expect economy to grow in next 12 months: PwC survey

  PwC Middle East's 28th Annual CEO Survey showed that 77% of business leaders in Saudi Arabia expect the local economy to grow over the next 12 months, outpacing their peers in the GCC (71%), the Middle East (64%), and the world (57%). The Kingdom continues to implement its ambitious plans under Vision 2030, strengthening the investment climate and making it the top destination for regional investments. Non-oil revenue growth increased by 4.9% in the second half of 2024, recording the highest growth rate to date, the report said. Economic risks for business leaders are changing, as inflation stabilized at 2% by the end of 2024 from its peak of 3.4% in January 2023. However, cybersecurity risks rose to 49%, compared to 20% a year earlier.

• Olam to sell 44.6% stake in agribusiness to Saudi Arabia for $1.8bln, shares jump

  Singapore-based Olam Group on Monday said it will sell a 44.58% stake in its agricultural products business Olam Agri for $1.78 billion to state-owned Saudi Agricultural and Livestock Investment Company (SALIC). Shares of the company jumped as much as 8.9% in early trading to S$1.230, their highest level since January 6. The transaction values Olam Agri at $4 billion, higher than the $3.5 billion valued at the transaction in December 2022 when it sold a 35% stake, and will give SALIC an 80% controlling stake in the business. It will result in a gain of $1.84 billion for Olam Group, the firm said in an exchange filing. Olam Group will divest its remaining 19.99% stake in the unit three years after the completion of the first phase, giving SALIC full control of Olam Agri, it said.

• Saudi Arabia: Businesses put on notice over Saudisation
  The Saudi Ministry of Human Resources has asked establishments to comply with rules employing Saudis and ensure they make up no less than 75% of their overall workforce. The ministry said establishments must attract Saudis, employ them, and provide them with appropriate work opportunities. The ministry has already set up the “Nitaqat” (Ranges) programme to calculate the job localisation rates and automatically classify establishments. The programme comprises the “Platinum Range”, a category which includes businesses that excel in localisation; and the “High Green Range” which includes establishments that are average in terms of Saudization rates within the top third. There are, moreover, the “Yellow Range”, a category covering entities that have not achieved the required localisation rates, and the “Red Range” covering entities with the lowest percentage of localisation.

• Opinion: Gulf-China relations are strictly business

  Hardly a day goes by without a story about China’s growing presence in the Gulf, which is a remarkable transition. When I started working on a PhD focusing on China-GCC relations in 2011, an economist at a regional sovereign wealth fund dismissed the project out of hand: “How are you going to write 100,000 words on selling cheap stuff and buying oil”? Nearly 15 years later the narrative has shifted hard in the other direction, with China generally considered a major external power in the region. That does not mean its role in the Gulf is any better understood.  First and foremost, the Gulf remains a place to get energy. For decades, China has had a voracious appetite for imported oil and gas and it will continue to be the world’s largest importer in the near term. Gulf countries typically provide it with between 40-50 percent of its crude oil imports and an increasingly large percentage of its LNG.

• Rethinking Business Expansion: What GCC Companies Can Learn from Saudi Arabia

  Many GCC economies still rely heavily on hydrocarbon revenues. Saudi Arabia’s success in diversifying into tourism (e.g., NEOM, Red Sea Project), entertainment, and financial services highlights the importance of expanding into high-growth sectors. GCC companies can adopt a similar approach by investing in industries with strong long-term growth potential, developing capabilities in emerging sectors such as green energy, logistics, and fintech, and encouraging intra-regional trade to create interconnected markets. Saudi Arabia has streamlined its business regulations to create a more investor-friendly environment. The introduction of the Saudi Green Card (Premium Residency) and relaxed foreign ownership laws have made the Kingdom more attractive to international firms. Other GCC nations can enhance their appeal by reducing bureaucratic barriers to entry for foreign businesses, implementing policies that promote transparency and efficiency, and enhancing legal frameworks to support corporate governance and investment security.

• Saudi Arabia, Tanzania Sign Trade Agreements and Establish Joint Business Council

  The Federation of Saudi Chambers of Commerce and the Tanzania Chamber of Commerce, Industry And Agriculture (TCCIA) signed an agreement to establish a joint Saudi-Tanzanian business council, marking a significant stride towards enhancing economic cooperation between the two countries. The signing ceremony took place in Dar es Salaam on the sidelines of the Saudi-Tanzanian Roundtable meeting held yesterday, in which ministers, officials, and business leaders from both countries took part. During the meeting, discussions revolved around exploring partnership opportunities in vital sectors such as ports, agriculture, and transportation. The event also witnessed the signing of trade agreements between Saudi and Tanzanian companies across various economic sectors.

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