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26/05/2025 01:43 AST
Saudi Arabia's non-oil activities have reached record levels, accounting for 54.8% of the kingdom's gross domestic product (GDP) in 2024, reported SPA, citing the Minister of Economy and Planning Faisal Alibrahim.
He was delivering the opening remarks at the Saudi-Spanish Business Forum, affirming that Saudi Arabia is undergoing a historic economic transformation driven by Saudi Vision 2030.
Alibrahim pointed out that Spanish investments in the kingdom have exceeded $3 billion over the past decade, with more than 200 Spanish companies active across infrastructure, healthcare, agriculture, real estate, and technology.
He also commended the pivotal role of the Saudi-Spanish Business Council in strengthening bilateral trade, underscoring both countries' commitment to fostering a stable, transparent, and opportunity-rich investment environment.
The minister of economy further emphasized that Saudi-Spanish relations extend beyond the economic domain to include cultural and sports collaboration such as the Spanish Super Cup, contributing to deeper ties between the two nations and reinforcing mutual respect, said the SPA report.
Alibrahim concluded with an open invitation to Spanish companies, innovators, and entrepreneurs to take part in shaping a shared and prosperous future between the two countries, it added.
Trade Arabia
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29/05/2025
Saudi Arabia has launched the Advanced Manufacturing and Production Center, a key initiative aimed at accelerating the Kingdom's industrial transformation through the adoption of advanced technologie
Arab News
29/05/2025
The Ishraq Endowment Fund on Wednesday officially commenced operations, marking the beginning of a new phase aimed at revitalising the investment role of waqf (endowment) in Oman.
This innov
Muscat Daily
29/05/2025
Kuwait's external current account surplus remained huge in 2024, despite narrowing for the second straight year to reach 29 percent of GDP, mainly on lower oil exports. A smaller trade surplus on goo
Kuwait Times
29/05/2025
The UAE has been attracting thousands of companies from Europe, CIS and other countries because of its favourable, low tax environment and availability of talent among others, said Anurag Chaturvedi,
Khaleej Times
29/05/2025
The UAE remained the top target country in terms mergers and acquisitions (M&A) within the Middle East and North Africa (Mena) region in the first quarter of this year, with 63 deals totaling $20.3 b
Khaleej Times
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