MUST-READS

• Syria’s new leaders zero in on Assad’s business barons
  Syria's new rulers are combing through the billion-dollar corporate empires of ousted president Bashar al-Assad's allies, and have held talks with some of these tycoons, in what they say is a campaign to root out corruption and illegal activity. After seizing power in December, the Hayat Tahrir al-Sham (HTS) rebel group that now runs Syria pledged to reconstruct the country after 13 years of brutal civil war and abandon a highly-centralized and corrupt economic system where Assad's cronies held sway.

• Establishment of First Saudi-Palestinian Business Council

  Chairman of the Federation of Saudi Chambers Hassan Moejeb Alhwaizy and Ambassador of the State of Palestine to Saudi Arabia Mazen Mohammed Rateb Ghanem agreed today to establish the first Saudi-Palestinian Business Council. This initiative aims to increase trade and investment between the two countries. Alhwaizy stated that the private sector in the Kingdom aligns with the directives of the wise leadership in supporting the Palestinian people. He emphasized the importance of empowering Palestinian business owners to invest in Saudi Arabia and market Palestinian products and industries in Saudi markets. Alhwaizy also reaffirmed the Federation's support for organizing exhibitions and conferences to promote Palestinian products, with active participation from the Saudi Chambers of Commerce.

• New Business Laws in Saudi Arabia: What You Need to Know
  On 17 September 2024, Saudi Arabia introduced  new pivotal pieces of legislation: the Commercial Registration Law and the Trade Name Law. These laws represent a significant overhaul of the country’s business registration processes, aligning with the nation’s broader Vision 2030 initiative to improve business efficiency and foster investment. Below is an overview of the key changes and their impact on businesses operating in Saudi Arabia.

• Saudi-Japanese Business Council Convenes in Riyadh with Over 80 Company Representatives

  The Saudi-Japanese Joint Business Council Meeting convened in Riyadh with the participation of Minister of Investment Khalid Al-Falih and Japan’s Minister of Economy, Trade and Industry Muto Yoji. The meeting saw attendance from over 80 representatives of companies and entities from both nations. The Japanese delegation included representatives from industrial and commercial companies, as well as financial institutions focusing on modern technologies with an interest in the Saudi market.

• Expectations for a Second Trump Administration’s Impacts on Business in the Middle East

  Much has been written about how Donald Trump’s election will affect the political and security outlook for the Middle East, including with regard to the Israeli-Palestinian conflict, the Iranian nuclear program, and U.S. ties with Saudi Arabia, Egypt, and Turkey. But how will a second Trump term affect the economic and business outlook for the region? While President-elect Trump is defined most by his unpredictability, we believe a few themes are likely to play out over the next four years partly as a result of the U.S. presidential election: 1) Continued downward pressure on oil prices, and therefore on Gulf budgets and government spending; 2) Greater openness to and appeals for foreign direct investment in the U.S. from Middle Eastern sovereigns and others from the region; and 3) A more complicated landscape of controls on exports to the region of sensitive U.S. technology such as artificial intelligence (AI) semiconductors, weapons and advanced fighter jets, and civilian nuclear energy.

  • DGA Group - Expectations for a Second Trump Administration's Impacts on Business in the Middle East
• 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.

• Hussain: FDI Watching Saudi’s New Business Rules – Video

  Saudi Arabia's FDI inflows slumped in Q3 - dropping 8% Q/Q to 18 billion riyals, a sign the kingdom continues to face challenges in drawing external cash to back its economic overhaul. Abdul Kadir Hussain, Arqaam Capital's Managing Director for Fixed Income Asset Management spoke to Bloomberg's Christine Burke on Horizons Middle East and Africa about the 3 factors that are driving down investments.

• Federation of Saudi Chambers announces First Saudi-Kuwaiti Business Council

  The Federation of Saudi Chambers announced the initiation of procedures to establish the first Saudi-Kuwaiti Business Council, marking a significant step in advancing economic cooperation between the two countries. This came during a meeting on Tuesday between Hassan bin Mujib Al Huwaizi, the President of the Federation of Saudi Chambers, and Sheikh Sabah Nasser Sabah Al-Ahmad Al-Sabah, the Kuwaiti Ambassador to Saudi Arabia.

• Saudia Wins Cabin Crew of the Year at Aviation Business Middle East Awards 2024

  Saudia, the national flag carrier of Saudi Arabia, announced its win at the 18^th edition of the Aviation Business Middle East Awards 2024, earning the prestigious Cabin Crew of the Year title. This recognition highlights Saudia's unwavering commitment to delivering exceptional service and elevating the guest experience.The Cabin Crew of the Year award celebrates the professionalism, dedication, and personalized care provided by Saudia's cabin crew, whose service consistently redefines global hospitality standards. The team, consisting of exceptional Saudi talent alongside a diverse international community, embodies authentic Saudi hospitality, reflecting the Kingdom's warmth, generosity, and respect. Saudia's crew ensures guests enjoy a seamless and enriched travel experience.

• How to fund and launch your business in Mena and beyond

  In the early days, angel investors – friends, family and early believers – might help with small, first-round funds, covering initial tech, product development, or team basics. This initial funding is essential to get things off the ground, as I learned through our first round with angels, who provided the cash to build our tech platform and assemble our team. Then comes seed funding, which is the first real step into venture territory, where you need to show early traction and a solid market entry plan. If you’re on the right track, you’ll progress to Series A – the realm of serious venture capital – where larger amounts are invested to support aggressive scaling. With each round the bar is set higher, and the scrutiny gets sharper. But for those who make it through this path can turn a solid idea into a powerful, high-growth business.

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