黑料社区

Saudi private sector investments in Africa to reach $25bn: finance minister

Saudi private sector investments in Africa to reach $25bn: finance minister
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Richard Attias, CEO of FII Institute. Screenshot
Saudi private sector investments in Africa to reach $25bn: finance minister
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Tony Elumelu, Chairman of the United Bank for Africa. Screenshot
Saudi private sector investments in Africa to reach $25bn: finance minister
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Saudi Finance Minister Mohammed Al-Jadaan. Screenshot
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Updated 28 October 2024

Saudi private sector investments in Africa to reach $25bn: finance minister

Saudi private sector investments in Africa to reach $25bn: finance minister
  • Kingdom is actively involved in shaping the future of Africa by lending aid for philanthropic activities
  • 黑料社区 has spearheaded several initiatives to develop the African continent

RIYADH: Saudi private sector investments in Africa are expected to reach $25 billion in the next 10 years as economic and trade cooperation between the Kingdom and the continent strengthens, said a top minister.聽

Speaking at the Future Investment Initiative New Africa Summit in Riyadh, the Kingdom鈥檚 Finance Minister Mohammed Al-Jadaan said that 黑料社区 is actively involved in shaping the future of Africa by lending aid for philanthropic activities and guiding the continent toward economic diversification.聽

The New Africa Summit aims to connect international investors and business leaders, showcasing the unique opportunities available on the African continent and fostering cross-border investment, according to the FII website.聽

黑料社区 has spearheaded several initiatives to develop the African continent, with the latest one being a memorandum of understanding signed in April. The agreement was between the Saudi Fund for Development and the African Development Bank Group to provide funding for emerging economies in the continent.聽

鈥淭he relationship between the Kingdom and Africa is not only governed by the geographical location 鈥 we are partners with a joint history and a joint future. Our shared history goes beyond economic ties. We have different commonalities in our culture, geographies, and common denominator factors between our people,鈥 said Al-Jadaan.聽

He added: 鈥淚t is expected that 黑料社区鈥檚 private sector investments in Africa will reach $25 billion in the coming 10 years. Since the summit (Saudi-Africa Summit), within less than a year, we are working on $5 billion of these investments.鈥澛

During his speech, the finance minister also highlighted some of the major initiatives the Kingdom took to propel the socio-economic conditions in Africa, including $10 billion provided by the Saudi EXIM Bank to deliver financing products in Africa in the coming 10 years.聽

He added that the EXIM Bank has already allocated $1.5 billion out of this $10 billion.聽

鈥淭he recent Saudi-Africa summit that was held last year marked a new chapter. 黑料社区 has dedicated $1 billion from the Custodian of Two Holy Mosques鈥 Philanthropic initiative in Africa.聽

Second, $5 billion from the PIF (Public Investment Fund) has been allocated to diversify economic projects in Africa in the next 10 years, and it has already started,鈥 said Al-Jadaan.聽

The minister added that the Kingdom is also helping Africa in various frontiers, including digitalization, and aiding the continent to establish its position in the global landscape.

鈥淭he Kingdom was one of the first countries that requested that the G20 give permanent membership for the African Union, and also called for establishing a chair for Africa in the executive body in the World Bank,鈥 said Al-Jadaan.聽

He added: 鈥淥ne of the most important challenges faced by several African countries is the sustainability of the debts and this urges serious global cooperation to help these countries deal with sovereignty debts. 黑料社区 is working with IMF, World Bank, and other groups to handle debts of African nations, especially countries which have less income.鈥澛

According to the finance minister, 黑料社区 is addressing urgent solutions for African nations and is also working to establish a lasting framework to enhance economic flexibility and financial stability across the continent.

During the inaugural ceremony, Richard Attias, CEO of FII Institute, said the New Africa Summit is a gathering dedicated to investing in the boundless potential of the continent.聽

鈥淎frica鈥檚 resilience, diversity, and reality are inspiring. From the lively markets to the solar farms, and endless savannahs symbolize 鈥業nfinite Horizons鈥, our FII8鈥檚 main theme,鈥 said Attias.聽

According to the CEO, the New Africa Summit is not aimed at discussing the future of the continent, instead, it intends to reshape it by introducing new narratives and exploring the continent鈥檚 untapped resources.

鈥淥ur commitment here today is to empower African voices, foster sustainable growth, and embrace the unique vision Africa brings to the world鈥檚 stage. Together, we will illuminate the path forward, creating partnerships that transcend borders and crafting an impact that future generations will inherit with pride,鈥 said Attias.聽

In a separate panel discussion, Tony Elumelu, chairman of the United Bank for Africa, said that the continent, with 60 percent of its population under the age of 30, is evolving as a startup hub in multiple sectors.聽

He added that startups in Africa are tackling multiple challenges, and the failure rate among these companies has gradually decreased over the past several years.聽

鈥淲e are seeing a young population in the tech sector startup landscape, we are seeing women in agriculture. The startup ecosystem is improving now. There鈥檚 room for improvement in the continent, but the good news is that, from where we started years ago, I have seen more progress than ever before,鈥 said Elumelu.聽

He added that the African continent has successfully bridged the gender gap over the past few years and said several companies have females in their top leadership.聽

Elumelu also invited investors to come and invest in Africa and said the continent is open to new business.聽

鈥淭he opportunities are there, the challenges are there. That鈥檚 what entrepreneurs always do; we try to navigate challenges for the betterment of all. So, Africa is open for business, we do have challenges. You can navigate those challenges,鈥 he concluded.聽


黑料社区鈥檚 AI moment takes shape at Money20/20

黑料社区鈥檚 AI moment takes shape at Money20/20
Updated 19 September 2025

黑料社区鈥檚 AI moment takes shape at Money20/20

黑料社区鈥檚 AI moment takes shape at Money20/20

RIYADH: The Saudi edition of Money20/20 Middle East this week offered a snapshot of how rapidly artificial intelligence is moving from hype to hard deployment in the Kingdom鈥檚 financial sector. 

With more than 450 fintech companies and over 1,050 global investors gathering under the theme 鈥淲here Money Does Business,鈥 the event showed how central AI has become to 黑料社区鈥檚 Vision 2030 ambitions and how urgent the conversation around regulation, infrastructure and talent has become.

The message across panels was clear: AI is no longer an experiment. It is increasingly embedded in every corner of finance, from fraud detection and onboarding to risk modeling and compliance. The more AI promises to accelerate growth, the more scrutiny it invites. 

For 黑料社区, the challenge now is scaling adoption while maintaining trust, regulatory alignment and data integrity.

The Kingdom is projected to reap nearly $135.2 billion from AI by 2030, equivalent to about 12.4 percent of gross domestic product, according to PwC. That potential is driving urgency, with nearly all financial-sector leaders saying the pressure to deploy AI has grown over the past six months. Regulators are responding in parallel.

The Saudi Central Bank has expanded its sandbox programs and is introducing clearer guidelines to ensure innovation happens under strong consumer-protection and data-governance frameworks. Industry insiders at the event said this collaboration between regulators and the private sector is essential if the Kingdom is to balance speed with safety in AI rollouts.

Khalid Al-Sharif, CEO of Abdul Latif Jameel Finance, said the next stage of AI adoption in finance will depend on coordination between regulators, financial institutions and technology providers. 

鈥淭he next phase is about coordination,鈥 he said. 鈥淩egulators must keep issuing workable standards, financial institutions must document and monitor models, and technology providers must build for local requirements rather than import generic systems.鈥

Khalid Al-Sharif, CEO of Abdul Latif Jameel Finance. LinkedIn

He added that enabling micro and small businesses is central to Vision 2030 and pointed to Abdul Latif Jameel Finance鈥檚 Bab Rizq Jameel Microfinance program, which has issued loans to nearly 300,000 beneficiaries since 2004 鈥 81 percent of them women. 鈥淥ur goal is to empower entrepreneurs and women-led enterprises so they can contribute more strongly to national GDP,鈥 he said.

Al-Sharif also emphasized the importance of building trust as technology advances. 鈥満诹仙缜檚 financial sector is ready for this leap,鈥 he said. 鈥淏ut success will depend on responsible innovation that protects consumers and uses data ethically while enabling growth.鈥

Among the announcements at the Money20/20 conference in Riyadh was Singapore-based Dyna.Ai鈥檚 decision to expand in the Kingdom with the launch of its Agentic AI Suite and Arabic-first AI Employees. 

These digital teammates, including an AI credit underwriter, knowledge partner and recruiter adviser, are designed to integrate into enterprise workflows and support compliance, customer service and operational efficiency.

鈥淎I Employees are advanced digital teammates that augment human capabilities,鈥 said Tomas Skoumal, chairman and co-founder of Dyna.Ai. 鈥淭hey deliver faster, more accurate, and personalized customer experiences while collaborating directly with human workers.鈥

The company says its tools deliver more than 95 percent accuracy with response times under 200 milliseconds. Importantly, the suite was built with Arabic capabilities from day one, meaning it can understand dialects, cultural nuances and regulatory requirements specific to the Kingdom.

Tomas Skoumal, chairman and co-founder of Dyna.Ai. Facebook

While announcements like Dyna.Ai鈥檚 show confidence in the market, 黑料社区鈥檚 journey toward AI at scale still faces hurdles. Executives at Money20/20 pointed to a shortage of AI specialists and data scientists even as universities and training programs accelerate talent development.

Infrastructure gaps also persist, with demand growing for high-performance computing, sovereign data centers and faster data-processing capabilities. 

Regulatory certainty is another area to watch. Though sandboxes and ethical frameworks are already in place, binding rules for algorithmic transparency, privacy and bias mitigation are still being developed. 

Industry experts warn that without clear, enforceable guidelines, trust in AI systems could be undermined before they are fully mainstream.

Money20/20 is more than a showcase. It is one of the few places where regulators, legacy banks, fintech startups and investors meet under one roof to compare strategies and align on priorities. 

This year, announcements such as Google Pay鈥檚 launch in the Kingdom, Alipay+ acceptance by 2026, and a series of capital markets reforms highlighted the pace at which 黑料社区 is trying to modernize its financial ecosystem.

For companies including Dyna.Ai, the event serves as a stress test, a chance to prove whether their solutions can meet Saudi-specific expectations for speed, accuracy, compliance and cultural fit. 

For regulators and policymakers, it is an opportunity to gauge market readiness and identify where rules and infrastructure must catch up with innovation.

黑料社区鈥檚 AI story is now entering what many at the conference called its execution phase. 

The big-picture goals have been set: billions of dollars in AI-driven GDP impact, a skilled workforce of 20,000 specialists by 2030 and a digitally transformed financial system. What comes next is a test of implementation, how quickly these ambitions can translate into measurable outcomes.

Dyna.Ai鈥檚 Arabic-first approach offers one glimpse of what the future might look like: instant, personalized and compliant digital interactions that support growth while keeping human workers focused on higher-value tasks. But it is just one piece of a much larger transformation.

The Kingdom鈥檚 AI moment is no longer just a promise. Its success will be measured by the ability to build trust, close infrastructure gaps, nurture talent and ensure every algorithm deployed works for both the economy and the people it serves.


How AI could end 黑料社区鈥檚 鈥榠nfinite workday鈥

How AI could end 黑料社区鈥檚 鈥榠nfinite workday鈥
Updated 18 September 2025

How AI could end 黑料社区鈥檚 鈥榠nfinite workday鈥

How AI could end 黑料社区鈥檚 鈥榠nfinite workday鈥
  • AI adoption is already demonstrating its potential to reshape work across the Kingdom.
  • Companies must 鈥榬edesign workflows to cut through digital noise, unlock focus鈥

ALKHOBAR: At 10 p.m. in Riyadh, a marketing executive checks her inbox one last time. She has already answered over 100 emails, managed a constant stream of Teams messages, and sat through five back-to-back meetings. By 6 a.m., she will be back online.

This 鈥渋nfinite workday鈥 is becoming the norm. According to Microsoft鈥檚 latest Work Trend Index, nearly 30 percent of employees check email late at night, while 40 percent are online by early morning. The average Saudi worker now faces a flood of 117 emails and 153 Teams messages daily, with interruptions every two minutes 鈥 a pattern that has blurred the line between work and rest.

For Turki Badhris, president of Microsoft Arabia, this is precisely why organizations must move beyond basic digitization toward full transformation.

鈥淎I is not a passing trend. It鈥檚 a generational shift that is redefining how work gets done, how decisions are made, and how value is created,鈥 Badhris told Arab News. 鈥淭he organizations that thrive will be those that are willing to reimagine, not just automate, how work works.鈥

Turki Badhris, president of Microsoft Arabia. (Supplied)

He calls this the 鈥淔rontier Firm mindset,鈥 where companies redesign workflows to cut through digital noise and unlock focus, rather than simply adding new technology on top of old processes.

Human resources professionals are seeing the human cost of this always-on culture firsthand.

鈥淲ith digital transformation under Vision 2030 and the shift to flexible work models after the pandemic, it鈥檚 becoming harder for people to switch off,鈥 said Aminah Alalaiwi, assistant manager HR Business Partner at Bupa Arabia.

鈥淥ver time, that takes a real toll on the employee and induces burnout, stress, and lower engagement,鈥 she said.

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To address this, Alalaiwi completed Mental Health First Aid training, an initiative her company encouraged.

鈥淚t gave me the tools to spot early signs of struggle and respond in a way that actually helps,鈥 she added. 鈥淭hat鈥檚 why I believe HR has to go beyond policies. We need to actively create cultures where well-being and performance reinforce each other.鈥

AI adoption is already demonstrating its potential to reshape work across the Kingdom. At Obeikan Investment Group, the O3ai platform 鈥 built on Azure OpenAI and IoT 鈥 analyzes production data in real time, boosting operational efficiency by 30 percent and cutting costs by a similar margin across 20 factories.

Aminah Alalaiwi, assistant manager HR Business Partner at Bupa Arabia. (Supplied)

At Ma鈥檃den, Microsoft Copilot and Azure OpenAI are used to summarize policies, draft documents, and automate governance workflows, saving employees more than 2,200 hours every month. At Sanabil Investments, structured adoption of Copilot led to 70 percent employee uptake in just two months, cutting content creation time by 50 percent.

Badhris emphasizes that Microsoft鈥檚 role is to help companies go beyond merely deploying tools.

鈥淲e work hand-in-hand with leaders to align technology adoption with business priorities, governance frameworks, and change management strategies,鈥 he said. 鈥淥ur approach is about co-creating roadmaps for responsible innovation.鈥

To support this transformation, Microsoft is investing heavily in local infrastructure. Its new cloud datacenter region in 黑料社区 will provide enterprise-grade services with low-latency access and full compliance with data residency requirements, enabling organizations to scale AI securely.

DID YOU KNOW?

鈥 Microsoft Arabia has committed to training 100,000 Saudi nationals in AI skills by 2025.

鈥 The initiative has been launched in partnership with the Ministry of Communications and Information Technology and SDAIA Academy.

鈥 AI adoption is already demonstrating its potential to reshape work across the Kingdom.

But as Alalaiwi warns, even the best tools can backfire without clear boundaries.

鈥淎I can automate repetitive tasks, prioritize communications, and support smarter scheduling, reducing stress and allowing employees to disconnect after hours,鈥 she said. 鈥淗owever, without clear policies, these same tools can generate more notifications, blur boundaries, and increase the expectation of being 鈥榓lways available.鈥欌

Skilling remains a cornerstone of this shift. Microsoft Arabia has committed to training 100,000 Saudi nationals in AI skills by 2025, in partnership with the Ministry of Communications and Information Technology and SDAIA Academy. Programs like the Microsoft AI Academy and the Center of Excellence for AI and Cloud Computing aim to prepare Saudi talent with globally recognized certifications and hands-on skills.

Microsoft Arabia has committed to training 100,000 Saudi nationals in AI skills by 2025, in partnership with the Ministry of Communications and Information Technology and SDAIA Academy. (Supplied)

Badhris advises business leaders to act now rather than wait for a perfect plan.

鈥淪tart small but start now,鈥 he said. 鈥淚dentify where AI can cut through the noise, reduce repetitive tasks, and unlock focus. These quick wins often become the catalyst for deeper cultural change.鈥

As 黑料社区 accelerates toward Vision 2030, the pressure to transform digitally is rising. But Badhris believes the real competitive edge in the AI era will come not from being the busiest, but from being the smartest鈥攁nd the most human.

鈥淲e can let work spill endlessly into our evenings,鈥 he said, 鈥渙r we can reclaim time for the things that matter.鈥


 

 


Saudi port exports rise 9.3% as total cargo hits 334.5m tonnes鈥

Saudi port exports rise 9.3% as total cargo hits 334.5m tonnes鈥
Updated 18 September 2025

Saudi port exports rise 9.3% as total cargo hits 334.5m tonnes鈥

Saudi port exports rise 9.3% as total cargo hits 334.5m tonnes鈥

RIYADH: 黑料社区鈥檚 ports saw robust growth in 2024, with exports climbing 9.3 percent to 222.4 million tonnes, pushing total cargo volumes to 334.5 million tonnes and reinforcing the Kingdom鈥檚 expanding role in global trade.

Data from the General Authority for Statistics showed that King Fahad Industrial Port in Yanbu led in exports, handling 114 million tonnes 鈥 or 51 percent of the total. Imports also rose 3.6 percent to 108.9 million tonnes last year.

The surge in cargo aligns with 黑料社区鈥檚 National Transport and Logistics Strategy under Vision 2030, which seeks to position the Kingdom as a global logistics hub connecting Asia, Europe, and Africa.

GASTAT鈥檚 report highlighted container activity, noting that more than 2.5 million inbound and outbound containers were handled in 2024, including 1.3 million outbound and over 1.2 million inbound units. Of these, 20-foot containers exceeded 1.3 million, while 40-foot containers surpassed 1.1 million, alongside roughly 1,400 containers of other sizes.

In terms of port throughput, Yanbu led with 39.8 percent, followed by King Fahad Industrial Port in Jubail at 19 percent. King Abdulaziz Port in Dammam accounted for 15.5 percent, Jeddah Islamic Port handled 14.1 percent, and the remaining 11.6 percent was distributed among other ports nationwide.

King Abdulaziz Port in Dammam also received the largest share of imports, totaling 38 million tonnes (35 percent of inbound cargo), while Yanbu dominated exports with 114 million tonnes (51 percent of outbound shipments).

Liquid bulk cargo topped all categories, exceeding 177 million tonnes, underscoring the continued importance of oil and petrochemical trade. Transshipment cargo surpassed 21 million tonnes, including nearly 11 million tonnes loaded and 10.4 million tonnes unloaded 鈥 equivalent to around 2 million standard containers.

Vessel traffic remained strong, with 8,693 ships docking at Saudi ports. Jeddah Islamic Port received the highest volume at 3,805 vessels, followed by King Abdulaziz Port with 1,980, Neom Port with 951, and Yanbu with 554.

Passenger traffic, however, fell 19.6 percent from 2023, totaling 912,800 travelers. Jazan Port recorded the highest passenger activity at over 485,000, followed by Jeddah Islamic Port with 217,600 and Neom Port with 205,100.

Compiled using data from the Saudi Ports Authority and related entities, the annual maritime report provides valuable insights into the flow of goods, passengers, and vessels, offering a foundation for future transport sector planning and development.


Closing聽Bell: Saudi main index聽rises to close at 10,780聽

Closing聽Bell: Saudi main index聽rises to close at 10,780聽
Updated 18 September 2025

Closing聽Bell: Saudi main index聽rises to close at 10,780聽

Closing聽Bell: Saudi main index聽rises to close at 10,780聽

RIYADH: 黑料社区鈥檚 Tadawul All Share Index rose on Thursday, gaining 130.30 points, or 1.22 percent, to close at 10,780.69. 

Total trading turnover of the benchmark index reached SR16.4 billion ($4.3 billion), with 191 stocks advancing and 58 retreating. 

The Kingdom鈥檚 parallel market, Nomu, also climbed, adding 167.71 points, or 0.67 percent, to close at 25,290.92, as 38 stocks gained while 42 declined. 

The MSCI Tadawul Index advanced 15.37 points, or 1.11 percent, to close at 1,398.79. 

The day鈥檚 top performer was MBC Group Co., whose shares surged 9.97 percent to SR32.20. Other strong gainers included Electrical Industries Co., up 9.90 percent to SR9.99, and Dar Al Majed Real Estate Co., which rose 7.62 percent to SR13.14. 

On the downside, Saudi Public Transport Co. posted the steepest decline, falling 4.46 percent to SR12.42. Musharaka REIT Fund slipped 3 percent to SR4.20, while Alandalus Property Co. dropped 2.62 percent to SR18.60. 

In corporate developments, Al Kathiri Holding Co. announced that its subsidiary, ALIAN Industry Co., signed a memorandum of understanding with the Rwanda Housing Authority to develop 10,000 affordable housing units. 

According to a Tadawul statement, this MoU aligns with Al Kathiri Holding鈥檚 strategy to grow its presence in international markets and introduce modern construction technologies globally, supporting Saudi Vision 2030鈥檚 goal of promoting national exports.   

Al Kathiri Holding Co. ended the session at SR2.09, up 0.48 percent. 

Separately, 黑料社区n Oil Co., Aramco, completed a $3 billion sukuk issuance, comprising 15,000 trust certificates with a par value of $200,000 each. The issuance offers a return of 4.125 percent for five-year certificates and 4.625 percent for 10-year certificates.  

Aramco shares closed at SR24.47, up 1.54 percent. 

Meanwhile, First Avenue for Real Estate Development said the White Land Fees program will have no impact on its Riyadh City portfolio, which consists entirely of income-generating projects and developments under construction with issued building permits. The company emphasized it does not own any undeveloped or 鈥渨hite鈥 land.  

Shares of First Avenue closed at SR8, up 3.71 percent. 


黑料社区鈥檚 Al-Baha region unveils industrial projects worth $24m聽

黑料社区鈥檚 Al-Baha region unveils industrial projects worth $24m聽
Updated 18 September 2025

黑料社区鈥檚 Al-Baha region unveils industrial projects worth $24m聽

黑料社区鈥檚 Al-Baha region unveils industrial projects worth $24m聽

JEDDAH: 黑料社区鈥檚 Al-Baha region has unveiled SR89 million ($24 million) in industrial projects aimed at attracting investment, creating jobs, and developing its mining and small and medium enterprises sectors. 

Prince Hussam bin Saud bin Abdulaziz, governor of the southwestern region, inaugurated several infrastructure and utility projects at the First Industrial City in Al-Baha, part of efforts to strengthen the local industrial and investment environment. 

The launch was attended by Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef, who also chairs the Saudi Authority for Industrial Cities and Technology Zones, known as MODON, along with its CEO Majed bin Raed Al-Argoubi, according to a statement. 

Al-Baha holds significant untapped mineral wealth, which 黑料社区 aims to explore as mining emerges as a key driver of economic diversification under Vision 2030. 

The Ministry of Industry and Mineral Resources recently highlighted the region鈥檚 deposits of precious and base metals 鈥 including gold, silver, copper, zinc, and lead 鈥 alongside industrial rocks and ornamental stones such as feldspar, marble, and pozzolan, estimating the value of these resources at SR285.4 billion. 

The newly launched projects include integrated service and logistics facilities in the industrial city, which 鈥渨ill help attract more quality investments, in line with Saudi Vision 2030 objectives to support regional development and empower the industrial sector,鈥 the statement said. 

Multiple memorandums of understanding were also signed to promote investment, develop national competencies, and strengthen cooperation with academic and professional institutions, including the Technical and Vocational Training Corp. and Al-Baha University. 

鈥淭he agreements aim to enhance collaboration in training, exchanging experiences, qualifying graduates for employment in the industrial sector, and supporting small and medium enterprises through joint programs that contribute to both investment and industrial efficiency in the region,鈥 the statement added. 

Prince Hussam said the projects underscore the Kingdom鈥檚 commitment to advancing the sector, attracting investment, creating youth employment, and boosting SMEs through collaboration with universities and educational institutions. 

Alkhorayef stressed that the industrial and mining sectors are vital for Vision 2030, contributing significantly to economic diversification. 

鈥淗e explained that the ministry seeks to extend its initiatives to all regions of the Kingdom, including Al-Baha, by enabling the local industrial environment and promoting unique industries that will enhance the region鈥檚 economic role,鈥 the statement said. 

The ministry is collaborating with major companies on exploration, creating investment opportunities in mining and downstream industries, and encouraging investors to seize these prospects. 

By July, the region had granted 39 mining licenses, representing total investments of SR117 million. 

Al-Baha鈥檚 industrial base comprises 49 factories: 34 in building materials, nine in food production, five in plastics and rubber, with the remainder in chemicals, metals, and other sectors, according to ministry spokesperson Jarrah Al-Jarrah.