Arab Press

بالشعب و للشعب
Tuesday, Oct 07, 2025

49 investment pacts worth over $925 million clinched during Q2 of 2022

49 investment pacts worth over $925 million clinched during Q2 of 2022

The Ministry of Investment has announced the signing of 49 investment deals in several sectors worth more than $925 million during the second quarter of 2022.
The ministry indicated that the deals that were signed were in the sectors of advanced industries, information and communications technology, construction and building, in addition to real estate activities, tourism, entertainment, and sports.

The deals that were signed are expected to create about 2,000 new job opportunities, the ministry said.

In its statement, the ministry clarified details of the deals that were signed. These include the signing of an agreement worth $133.3 million between the Saudi Ports Authority (Mawani) and DP World, UAE, to establish a modern logistics zone in Jeddah Islamic Port.

Meanwhile, a $37 million deal was signed, led by MasterCard, in the Saudi e-commerce company "Hyperpay" in order to expand the digital payment system in the Kingdom.

The ministry's investment development report also revealed other deals, the most important of which were strategic agreements with the Swiss pharmaceutical company "Novartis" to develop biotechnology in Saudi Arabia.

Investment agreements worth $50 million were signed by the Saudi Aramco Entrepreneurship Center (Wa’ed) for the Wahed, a global Islamic fintech company. In addition to signing a deal with Maaden Company to build the world's largest solar-powered plant to refine bauxite ore to extract alumina and support the aluminum industry.

Minister of Investment Eng. Khaled Al-Falih said that the national investment strategy is considered as an effective incentive to increase the private sector's contribution to gross domestic product (GDP) by 65 percent, in addition to increasing foreign direct investment (FDI) to 5.7 percent of GDP.

"While the global tourism sector is still recovering due to the recent crises that occurred, many tourism investors are showing strong interest in Saudi Arabia's potential in this sector," Eng. Al-Falih noted.

Al-Falih said that the cooperation between the National Investment Strategy and the National Tourism Strategy will witness the development of a strong and attractive tourism product.

He also noted that the tourism sector in Saudi Arabia will witness global interest, as The Red Sea Development Company (TRSDC) signed deals in May with hospitality groups The Ritz Carlton, Hyatt and Rosewood in order to develop luxury resorts.

Additionally, a number of major global investors in the field of hospitality, such as Radisson and Hilton, announced that they are looking to open 20 and 59 new hotels in the Kingdom, respectively.

Saudi Arabian Airlines (Saudia) announced that it will add 94 new destinations in order to attract visitors to Saudi Arabia, he added.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Syria Holds First Elections Since Fall of Assad
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
×