Saudi Arabia’s cabinet has approved SR990 billion ($263.89 billion) budget spending for the fiscal 2021 with an estimated revenue of SR849 billion and a deficit of SR141 billion, or 4.9 per cent of the Gross Domestic Product (GDP). The cabinet session was held virtually and chaired by King Salman bin Abdulaziz Al Saud. In other…
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2021 Budget Announced HM King Salman has approved the Saudi Government’s budget for 2021 and has provided a summary of spending in 2020. All countries around the world have faced an extraordinary, budget-busting year due to the Covid pandemic and of course the Kingdom is no exception but Saudi has also faced extreme volatility in…
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Travelers arriving in the United Kingdom from Saudi Arabia will no longer need to quarantine for 14 days as was previously required due to the coronavirus pandemic. Transport minister Grant Shapps said that Saudi Arabia and Botswana were added to England’s safe travel corridor list. In other news, Aramco and Baker Hughes have announced the…
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Saudi Arabia’s Aramco announced on Monday that it would be expanding its flagship program to increase local content, boost supply chains and increase employment opportunities for Saudi citizens. The company noted that the new partnerships will help increase Aramco’s reliability and operational efficiency. In other news, Saudi Arabia’s Public Investment Fund (PIF) is currently in…
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AEI’s international market entry partner, IBG Global, successfully held their Annual (and this year virtual) Conference on Monday, 30th November 2020. Participants from 20 different countries and a 17-hour time-zone spread across them, worked together to discuss how to collaborate and continue supporting market entry opportunities and requirements from all around the globe. The session…
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Saudi Arabia will make coronavirus vaccines available for free for everyone living in the Kingdom, the Ministry of Health announced on Monday. In other news, Qiddiya Investment Company (QIC) awarded construction contracts of SAR 2 billion on the Qiddiya giga project, since construction began some 12 months ago. Qiddiya aims to develop more strategic partnerships…
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We know many of you, along with your family and friends, would have been disappointed that the Kingdom was not included on the list of Gulf countries recently added to the UK Travel Corridor for quarantine free entry into the UK. We’ve decided to start a petition so please sign it and distribute it far…
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The world’s biggest oil exporter has set its sights on becoming the largest supplier of hydrogen, a fuel seen as pivotal for curbing climate change. Saudi Arabia has ambitious plans and will not be challenged in its record of being the biggest exporter of hydrogen on earth, Energy Minister Prince Abdulaziz bin Salman said. In…
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The Saudi Export Development Authority will release a “Made in Saudi” initiative in the first quarter of 2021 to accelerate the industrialization process and transform the Kingdom into “a global industrial destination.” As part of the program, Saudi Arabia will set out to create a unified brand identity for Saudi products and services in regional…
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