This week, Saudi Arabia announced investments worth $14.9 billion in the technological sector on the first day of the LEAP 2025 Tech Conference as the Kingdom continues to spearhead its economic diversification efforts. During the event’s opening ceremony, the Kingdom’s Minister of Communications and Information Technology Abdullah Al-Swaha said Saudi Arabia is witnessing significant growth in the industry, with the number of jobs jumping from 150,000 in 2021 to 381,000 in 2024. LEAP 2025 is a flagship event in the Kingdom, as the nation eyes to become a global and regional tech hub, aligned with the goals outlined in the Vision 2030 program.
Also this week, according to recent data, Saudi Arabia’s Industrial Production Index recorded a 2.1% annual increase in December, driven by a rise in manufacturing activity and waste management services. Figures from the General Authority for Statistics show that non-oil activities expanded by 4% year on year, reflecting growth across most sectors except for electricity and gas supply. Manufacturing emerged as the main driver of growth, recording a 6.3% annual increase, according to the report.
Economy, Budgets and Finance
Saudi Gazette: Saudi Arabia announces $14.9bn investment deals in LEAP 2025. Read Here
Arab News: The manufacturing sector drove Saudi industrial growth to 2.1% in December. Read Here
Alarabiya News: Saudi Arabia launches King Salman Automotive Cluster to drive economic growth, and innovation. Read Here
Government & Royal Family
Alarabiya News: KSA’s Hevolution Foundation commits millions to transform health span research. Read Here
Commercial
Arab News: Saudi PIF’s Alat and Lenovo break ground on new 200k sq. meter facility in Riyadh. Read Here
Arab News: Saudi’s sports ambitions are fuelling economic growth. Read Here
Arab News: Riyadh Expo 2030 to boost Saudi Arabia’s global presence. Read Here
Social
Alarabiya News: Saudi Arabia’s inaugural international art auction nets over $17 million. Read Here
Arab News: Arabia’s mental health revolution is driven by awareness and accessibility. Read Here
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