Saudi Arabia's Business Sector Booms with 46,900 New Companies in First Half of Year

Saudi Arabia's business sector experienced a significant surge in the first half of the year, with the establishment of 46,900 new companies. This growth highlights the ongoing expansion of commercial activity, supported by government initiatives to streamline business procedures.

The Saudi Competitiveness and Business Center played a crucial role, providing more than 2.9 million services to business establishments. These services included company registrations, the establishment of new entities, and online store verifications. The center's reach has expanded with new branches in Makkah and Arar, now totaling 21 across 16 cities, underscoring its commitment to broader service accessibility.

These advancements coincide with Saudi Arabia's improved global competitiveness. The Kingdom secured 13th place globally and third among G20 nations in the "World Competitiveness Yearbook 2026." This progress is attributed to 1,000 legislative, procedural, and technological reforms implemented in collaboration with government agencies, alongside efforts to address private sector challenges.

The center actively works to enhance the business environment by providing economic data, responding to private sector inquiries, and identifying business challenges for resolution with relevant authorities. These efforts are integral to Saudi Arabia's Vision 2030, which aims to diversify the economy and increase the private sector's economic contribution.