Saudi Gazette report

RIYADH — There has been an increase of 67% in new commercial registrations issued during the fourth quarter of 2024 compared to the same period last year. Over 160,000 new commercial records were issued in the past three months, bringing the total number of active commercial registrations across the Kingdom to over 1.6 million. This was revealed in the quarterly business sector bulletin for the fourth quarter of 2024, issued by the Ministry of Commerce.

The report highlighted significant growth and development within the Kingdom's business landscape. The bulletin emphasized growth within key sectors aligned with Saudi Vision 2030, including cloud computing services, application development, financial technology solutions, tourism, entertainment, and talent development. E-commerce also saw notable expansion, with a 10 percent increase in commercial registrations compared to the same quarter last year, reaching a total of 40,953 registrations.