The Saudi budget statement for the first quarter of 2024 highlighted the government’s continued efforts to complete the reform process and achieve financial sustainability in the face of global challenges. Saudi Arabia considers strengthening non-oil activities and empowering the private sector to be two pillars of Vision 2030. Last year, non-oil activities in Saudi Arabia grew by 4.7 percent, and recorded their highest contribution to real GDP ever at 50 percent.
The World Bank, in cooperation with Saudi Arabia, intends to establish a knowledge center in the Kingdom to support countries in implementing necessary economic reforms to bolster their competitive capabilities.
Amidst Saudi Arabia’s push for economic diversification, the localization of emerging industries, the adoption of green energy technologies like ammonia and hydrogen, climate-conscious initiatives, and the integration of artificial intelligence, experts stress the vital importance of business councils affiliated with the Federation of Saudi Chambers to assume a proactive role.
KUWAIT CITY, May 13: The Public Prosecution announced that within the framework of judicial cooperation with its counterpart in Bahrain, Kuwait has seized assets and money from the Kingdom worth $180 million belonging to the former head of the Public Institution for Social Security (PIFSS) late Fahd
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