The budget estimates expenditures of SAR1.3tn in 2024 and total revenues of SAR1.2tn
The initiative is part of a strategy announced for the King Abdullah University of Science and Technology
The visit by the US State Secretary builds on President Biden’s visit to Saudi Arabia in 2022
The economic zones are expected to accelerate growth, increase export competitiveness, attract talent and improve the country’s global links
The figures were cited in an economic report issued by the Saudi Chambers of Commerce and Industry during Saudi Crown Prince Mohammed bin Salman’s visit to Jordan
On the sidelines of the visit, Saudi Arabia and Oman signed 13 memoranda of understanding across different sectors
He met with Saudi Crown Prince Mohammed bin Salman on Monday
The kingdom has no plans to introduce an income tax, Prince Mohammed confirmed
The overall regional tree planting programme (with 50 billion trees) is claimed to be the largest reforestation programme in the world
‘No such meeting occurred’, confirmed the kingdom’s Foreign Minister
The fund intends to play a leading role in refocusing the economy toward underdeveloped industries
The Red Sea Development Co. project, owned by the kingdom’s Public Investment Fund, is the biggest leisure development, spanning over 10,000 square miles
While oil prices have more than doubled since OPEC+ began curbing supplies, Brent crude is still down 36 per cent this year
The PIF received an injection of $40bn from the kingdom’s reserves in March and April
PIF has shifted its focus from being mostly a domestic holding company to an international investment vehicle with stakes in Citigroup, Facebook and Boeing Co
The Public Investment Fund disclosed stakes worth $10.1bn at the end of the second quarter
The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis, its governor said in April
On the second day of trading on Riyadh’s stock exchange, Saudi Aramco briefly soared past the target
The visas will reportedly be available to people from about 50 countries
The project is expected to add over $5.86bn to the kingdom’s GDP when complete
Mohammed bin Salman was speaking to Time magazine for an April cover story
The $80-107 monthly levy was introduced in January