Saudi entrepreneurship surges as thousands of new companies are established
Saudi Arabia's business environment made a major advance in the first half of the year, with official figures recording 46,900 new companies. The figures…
Editorial Team
Data from the Saudi competitiveness and business center showed that more than 2.9 million services were provided to economic establishments during the past six months. They included establishing new companies, registering 86,800 sole proprietorships and authenticating 3,500 online stores, highlighting the center's role in supporting private-sector growth.
The center said its service network had expanded to 21 branches across 16 Saudi cities. New branches in Makkah and Arar aim to bring government services closer to businesses and investors, improve local economic performance and facilitate access to integrated services.
Digital integration and global competitiveness for the Saudi economy
The center said economic establishments can access approximately 4,800 services through an integrated system involving 80 government entities. Services include issuing and renewing licenses, tax and zakat services, and annual confirmation of commercial registrations, creating a flexible digital environment for entrepreneurs and investors.
International reports highlighted this development: Saudi Arabia ranked 13th globally and third among G20 countries in global competitiveness indicators. The results attributed the advance to 1,000 legislative and technical reforms that addressed private-sector challenges and improved business efficiency.
The center said it continues developing the business environment by identifying challenges and providing data to support decision-making.
It concluded that these efforts form part of Vision 2030, which aims to diversify the national economy and increase the private sector's contribution to GDP for a sustainable economic future.