Saudi Arabia boosts health infrastructure with 5 new hospitals, increased budget 

Saudi Arabia has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents. File
Saudi Arabia has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents. File
Short Url
Updated 02 December 2024
Follow

Saudi Arabia boosts health infrastructure with 5 new hospitals, increased budget 

Saudi Arabia boosts health infrastructure with 5 new hospitals, increased budget 

RIYADH: Saudi Arabia is set to open five new hospitals by 2025, adding 963 beds across key provinces as part of a broader SR260 billion ($69.3 billion) budget allocation to the health and social development sector. 

This allocation, which represents the second-largest share of government spending, covers a wide range of initiatives, including increasing bed capacity to 23 beds per 10,000 residents in the targeted provinces, as outlined in the Ministry of Finance’s budget report.

The new facilities, located in Rijal Almaa, Dhahran Al-Janoub, Hail, Makkah, and Riyadh, include a dedicated mental health hospital in the capital. These projects aim to enhance access to care and improve healthcare infrastructure across the Kingdom.  

Other initiatives for 2025 include emergency services, early detection programs, cancer care, and expanded dialysis services, highlighting a comprehensive approach to healthcare that emphasizes prevention, early intervention, and state-of-the-art infrastructure. 

In addition to healthcare, these funds will also support the management of human resources and social services, including social security and welfare. 

They will also extend to the cultural, media, sports, and entertainment sectors, as well as the implementation of the Quality of Life Program. This underscores Saudi Arabia’s holistic approach, recognizing the interconnectedness of health and social development.  

Healthcare advancements 

Saudi Arabia has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents. 

Over the past decade, the Kingdom has invested heavily in modernizing healthcare infrastructure, expanding medical services, and improving access to quality care nationwide.  

With initiatives like Vision 2030, which outline ambitious goals to diversify the economy and enhance public services, the health sector has become a key area of focus. 

The government has prioritized expanding health coverage, upgrading hospitals and clinics, and implementing advanced technologies such as electronic health records and telemedicine services. 

Additionally, Saudi Arabia places strong emphasis on preventive healthcare, early diagnosis, and specialized treatment programs, all aimed at reducing the disease burden and improving the quality of life. 

Key investments 

The ministry’s report indicated that the new hospitals will be outfitted with state-of-the-art medical equipment, and skilled healthcare professionals will be employed to address the health needs of the population and enhance the quality of care.  

To bolster emergency medical services, Saudi Arabia plans to deploy 568 vehicles, including ambulances, electric vehicles, and amphibious units.  

These vehicles will play a crucial role in transporting the injured and medical supplies, enhancing the overall responsiveness of healthcare services, especially in remote areas and during emergencies. This extensive fleet will ensure timely medical attention and improve access to healthcare across all regions, regardless of geographic challenges. 

Health innovations 

The health sector will also prioritize early screening for newborns and young children in 2025, aiming to reduce disability and enhance overall quality of life. 

This includes the implementation of newborn screening programs to detect hearing impairments and genetic disorders. 

A comprehensive database will be created, linking both public and private sectors to ensure early diagnosis and intervention. 

Additionally, preschool hearing screenings will be integrated with the Noor system to improve educational outcomes for children, further supporting the early identification of health issues that could impact development. 

In an effort to reduce the incidence of cervical cancer, the Kingdom will increase HPV vaccination coverage for girls, targeting a 90 percent vaccination rate.  

The program will provide vaccines for girls in their first year of intermediate school and offer early detection services for women aged 30 and older. Positive cases will be referred to early screening programs for cervical cancer, aiming to prevent the spread of HPV and improve overall public health by detecting and addressing the virus early. 

The Kingdom is also expanding its cancer care services by implementing a modern care model across three new oncology centers. 

This includes expanding early cancer detection capabilities and providing state-of-the-art diagnostic equipment to improve the accuracy and speed of diagnoses.  

Similarly, dialysis services at Huraymila and Jazan General Hospitals will undergo significant expansion, with a 200 percent increase in capacity at each facility. These centers will receive substantial funding — SR10 million for Huraymila and SR30 million for Jazan — to ensure advanced care and accommodate more patients in need of dialysis. 

In parallel with these service expansions, the Kingdom is enhancing its medical evacuation capabilities by developing and activating medical evacuation centers, command and control hubs, and advanced ambulance services across the country. 

Notably, the National Health Emergency Operations Center has earned recognition from the World Health Organization for its efficiency and preparedness, positioning Saudi Arabia as a leader in healthcare crisis management and emergency response. 

Healthcare achievements 

The Ministry of Finance budget report highlighted the issuance of 113 million electronic prescriptions through the Wasfaty service, resulting in SR1.3 billion in savings and reducing costs by SR2.4 billion. 

The Wasfaty service is an electronic prescription platform introduced by the Saudi Ministry of Health. It allows doctors to prescribe medications electronically, replacing traditional paper prescriptions. 

This service is part of Saudi Arabia’s broader efforts to digitize healthcare services and improve efficiency. Through this platform, prescriptions can be directly sent to pharmacies, streamlining the process for both patients and healthcare providers. It also enhances medication tracking, reduces prescription errors, and helps manage healthcare costs more effectively. 

Emergency services have seen a 20 percent improvement in response time, enhancing life-saving efforts with more efficient ambulance and air transport services. 

Health coverage has expanded, with 12.5 million beneficiaries and a reduction in patient transfers outside local areas. 

Operational efficiency has been boosted, leading to a 27 percent increase in scheduled surgeries and a 91 percent improvement in emergency service access within four hours.  

The localization of specialized tests has grown by 13.1 percent, reducing reliance on external laboratories and cutting long-term costs. 

Dental services have also flourished, with a 137 percent increase in clinic capacity, a 200 percent rise in appointments, and a 250 percent growth in primary healthcare services.  

Additionally, the provision of advanced ambulances has improved services for challenging terrains and mass casualty incidents. The sector has also achieved 17 international accreditations, raising the health compliance rate to 84 percent across 252 facilities, solidifying its commitment to global standards. 

Digital advancements 

Investment in digital healthcare systems is proving beneficial in improving performance and health outcomes, as highlighted by the Organization for Economic Cooperation and Development. 

According to the World Economic Forum, Saudi Arabia allocated over $50 billion in 2023 to initiatives, including digital health services aimed at improving efficiency and accessibility.  

McKinsey predicts that the widespread adoption of digital solutions could bring an additional $15 billion to $27 billion in economic benefits by 2030. 

Saudi Arabia’s partnership with Orion Health to create the world’s largest health information exchange, connecting 5,000 institutions and 32 million people, is one example of such efforts. 

Artificial Intelligence, especially generative AI, is expected to play a significant role in improving patient care and healthcare efficiency, with the potential to contribute $320 billion to the Middle East’s economy by 2030, according to the WEF.  

Robots are also being explored for improving precision, workplace safety, and elderly care. Saudi Arabia, for instance, saw a 52 percent increase in robotics company registrations between 2022 and 2023. 

As Saudi Arabia continues to focus on digital health, AI advancements, and comprehensive care models, its efforts are poised to transform the sector, improve health outcomes, and support the well-being of its growing population.  


Saudi Arabia to showcase $100bn aviation investment opportunities at WEF

Saudi Arabia to showcase $100bn aviation investment opportunities at WEF
Updated 9 min 17 sec ago
Follow

Saudi Arabia to showcase $100bn aviation investment opportunities at WEF

Saudi Arabia to showcase $100bn aviation investment opportunities at WEF

RIYADH: Saudi Arabia’s General Authority of Civil Aviation is set to present over $100 billion in investment opportunities at the World Economic Forum in Davos, taking place from Jan. 20 to 24.

The Saudi House Pavilion will serve as the venue for showcasing critical aviation projects, encompassing airports, airlines, cargo logistics, and ground services, according to GACA statement.

These initiatives are central to the Kingdom’s ambitious strategy to establish itself as a global aviation hub.

According to the statement, at the heart of the presentation will be the allocation of $50 billion for the expansion and modernization of major airports. An additional $40 billion will be dedicated to new aircraft acquisitions, while $10 billion will be directed toward creating advanced logistics hubs at key airports in Riyadh, Jeddah, and Dammam.

Mohammed Al-Khurais, GACA’s executive vice president of strategy and business intelligence, underscored the scope of the investments.

“Saudi Arabia is offering aviation opportunities on an unprecedented scale. Through our ambitious Saudi Aviation Strategy, we aim to triple passenger traffic, expand to 250 destinations, and handle 330 million passengers and 4.5 million tonnes of cargo annually.”

The pavilion, organized by the Ministry of Economy and Planning, will host high-level discussions and key announcements. Among the speakers will be Abdullah Al-Dubaikhi, Saudi Arabia’s assistant minister of investment, as well as executives from major aviation players, including Archer Aviation and Jeddah Airport.

The GACA statement said panel discussions will focus on high-profile projects such as the King Salman International Airport in Riyadh, a sprawling mega-hub featuring six runways. There will also be dialogue surrounding public-private partnerships aimed at upgrading regional airports.

Beyond traditional infrastructure, the showcase will explore emerging sectors within aviation, such as cargo and logistics, Advanced Air Mobility, and business aviation.

This forward-thinking approach highlights Saudi Arabia’s commitment to not only modernizing its air transport network but also shaping the future of global aviation.

The Saudi pavilion will serve as a dynamic platform to present the Kingdom’s economic vision, fostering collaboration between global leaders, innovators, and investors, the statement said.

Aviation, positioned as a cornerstone of Saudi Arabia’s Vision 2030, is expected to play a pivotal role in transforming the Kingdom into a leading force in the global aviation industry.


Kingdom’s ‘Saudi House’ to showcase transformation in Davos

Kingdom’s ‘Saudi House’ to showcase transformation in Davos
Updated 27 sec ago
Follow

Kingdom’s ‘Saudi House’ to showcase transformation in Davos

Kingdom’s ‘Saudi House’ to showcase transformation in Davos
  • Saudi Minister of Economy and Planning Faisal Alibrahim sees WEF annual meeting as a platform for dialogue and collaboration
  • Says centralized hub to serve as meeting point for Saudi government officials, business leaders and other stakeholders

RIYADH: This year, the Saudi delegation to the annual meeting of the World Economic Forum in Davos, Switzerland, will feature, for the first time, a “Saudi House.”

The centralized hub will serve as a meeting point for government officials, business leaders, and other stakeholders participating in the forum.

“Saudi House was designed to facilitate the participation of all the (Saudi) government entities taking part in Davos in one location,” Faisal Alibrahim, the Saudi minister of economy and planning, said in an interview with Arab News.

“We think putting everyone in one place will create the vibrancy that can demonstrate and echo the vibrancy we are seeing here in the Kingdom.”

Speaking ahead of the trip, he spoke of the importance of the Davos summit as a platform for dialogue and collaboration.

“We’re going there because the Kingdom today is a more integrated player,” Alibrahim said.

“We’ve learned more about what we need to do and what we need to achieve, but we also learned more about what we can offer to our partners, to people from all around the world,” he added.

Using this opportunity to create a positive impact on the global economy, Alibrahim will champion a key call in Davos for global leadership to move beyond tepid economic growth and embrace a more ambitious, “intrepid leadership-led” approach.

“Today, the world is looking at two things that sometimes can be seen as in conflicting directions,” he said. “One, we’re at this tepid growth trajectory today, between 2.7 percent and 3.2 percent, according to the World Bank or the IMF, and we’ve been in this economic stalemate for a few years for various reasons.”

He highlighted the stark contrast between this sluggish economic growth and the immense potential unlocked by technological advancements and innovation.

Alibrahim argued that a new era of “intrepid leadership-led” growth is essential to bridge this gap. “We need bold leadership,” he said. “We need to move from tepid growth to intrepid leadership-led growth that can really bring the two together and unlock the potential of the globe. That’s the wider theme.”

This is part of a full interview with Alibrahim, which discussed the importance of a stable Middle East for global prosperity, attracting foreign investment, how the Kingdom is shielded from external shocks and geopolitics, and balancing ambitious giga-projects with prudence, among other topics.


Saudi Arabia issues nearly 522K commercial records in 2024

Saudi Arabia issues nearly 522K commercial records in 2024
Updated 19 January 2025
Follow

Saudi Arabia issues nearly 522K commercial records in 2024

Saudi Arabia issues nearly 522K commercial records in 2024
  • 2024 saw 368,038 registrations from establishments and 153,931 from companies
  • Number of commercial records granted in 2023 was 368,038

JEDDAH: Saudi Arabia experienced a 60 percent increase in commercial records in 2024, with a total of 521,969 issued, compared to the previous year, according to the Ministry of Commerce.

The number of commercial records granted in 2023 was 368,038, the ministry said in a statement outlining its achievements for 2024.

Last year, there were 368,038 registrations from establishments and 153,931 from companies, bringing the total number of active commercial records in the Kingdom to 1,606,169.

This comes as Saudi Arabia is driving economic diversification to reduce reliance on oil, aiming to boost the private sector’s share of gross domestic product from 40 percent to 65 percent by 2030. 

Central to this transformation is cultivating an economy fueled by entrepreneurship and innovation, with small and medium enterprises expected to increase their contribution from 20 percent to 35 percent by the end of the decade.

The ministry said the 2024 registrations encompassed a wide range of economic activities, with wholesale and retail trade, construction, accommodation, food services, and manufacturing industries, dominating the list.

Over the past three months, the Kingdom’s commercial records have experienced remarkable growth, driven by the implementation of the New Companies Law, which came into effect in early 2023. The rule introduced significant reforms to facilitate business processes and foster a more dynamic corporate environment.

By the end of the third quarter of 2024, commercial records surged to 389,413, up from 230,762 before the law’s enactment, according to the ministry.

Key reforms under the rule include streamlined procedures for establishing joint-stock companies, remote participation for shareholders, and enhanced financing options, such as allowing limited liability companies to issue debt instruments.

The changes have simplified company formation and introduced flexible financing avenues, reshaping the corporate landscape.

The law also promotes broader ownership by easing the purchase of shares and equity stakes. Notable innovations include the introduction of a simplified joint-stock company model and provisions accommodating non-profit organizations. Additionally, reforms enable sole proprietorships to transition into any company type, modernize rules for mergers and transformations, and allow for company splits.

Small and micro enterprises benefit from reduced compliance burdens, as they are exempt from the requirement of an external auditor. 

The law also enhances digital services, facilitating remote shareholder meetings and decision-making. Furthermore, it removes restrictions across all stages of company formation, operation, and dissolution.


Closing Bell: Saudi main index rises to close at 12,331 

Closing Bell: Saudi main index rises to close at 12,331 
Updated 19 January 2025
Follow

Closing Bell: Saudi main index rises to close at 12,331 

Closing Bell: Saudi main index rises to close at 12,331 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 75.81 points, or 0.62 percent, to close at 12,331.87. 

The total trading turnover of the benchmark index was SR5.39 billion ($1.43 billion), as 148 of the stocks advanced and 78 retreated.    

Similarly, the Kingdom’s parallel market Nomu gained 101.41 points, or 0.32 percent, to close at 31,600.12. This comes as 49 of the listed stocks advanced, while 38 retreated.    

The MSCI Tadawul Index gained 10.75 points, or 0.70 percent, to close at 1,546.53.     

The best-performing stock of the day was Saudi Cable Co., which debuted on the main market on Sunday, with its share price surging 9.85 percent to SR113.80. 

Other top performers included Middle East Specialized Cables Co., with its share price rising 6.43 percent to SR45.50, and Zamil Industrial Investment Co., which saw its share price surge 5.65 percent to SR36.45. 

Saudi Reinsurance Co. recorded the biggest drop, with its share price falling 2.27 percent to SR56.00. 

Almoosa Health Co. saw its stock price decline by 2.60 percent to SR138.20, while Wataniya Insurance Co.'s share price dropped 1.75 percent to SR25.20.  

On the announcements front, Almarai Co. reported its consolidated financial results for the year ended Dec. 31. According to a Tadawul statement, the company posted a net profit of SR2.3 billion in 2024, marking a 12.8 percent increase compared to 2023. This growth was driven by higher revenue, disciplined cost control, and a favorable product mix. 

Despite the positive results, Almarai Co.’s share price ended the session at SR58.50, down 1.72 percent. 

City Cement Co. has signed a natural gas supply agreement with Saudi Aramco under the supervision of the Liquid Fuel Displacement Program. According to a bourse filing, the agreement aligns with efforts by the Ministry of Energy and the Ministry of Industry and Mineral Resources to achieve the program's objectives. 

The filing also noted that the shift from liquid fuel to natural gas is expected to reduce emissions from the company’s production processes and enhance operational reliability. The financial impact of the agreement will be disclosed at a later date. 

City Cement Co.’s share price closed the session at SR18.80, up 1.17 percent. 

Saudi Arabian Mining Co., or Ma’aden, has provided an update on the development of its third phosphate fertilizer manufacturing project. According to a Tadawul statement, none of the associated contracts involve related parties, and the financial impact of these contracts remains unclear and will be disclosed once available. 

Ma’aden’s share price closed the session at SR48.60, up 1.66 percent. 


Saudi Arabia’s participation at WEF strengthens global push for innovation, AI

Saudi Arabia’s participation at WEF strengthens global push for innovation, AI
Updated 19 January 2025
Follow

Saudi Arabia’s participation at WEF strengthens global push for innovation, AI

Saudi Arabia’s participation at WEF strengthens global push for innovation, AI

RIYADH: Saudi Arabia’s active participation in the World Economic Forum underscores its commitment to advancing global initiatives aimed at enhancing the digital economy, fostering innovation, and leveraging artificial intelligence, a senior official has stated. 

Minister of Communications and Information Technology Abdullah Al-Swaha emphasized that the Kingdom’s presence at the annual Davos meeting, held from Jan. 20 to 24, comes at a pivotal moment as the world transitions from the digital age to the era of artificial intelligence. 

Saudi Arabia’s participation aligns with its National Strategy for Data and AI, which seeks to position the country among the top 10 nations on the Open Data Index and the top 20 in peer-reviewed data and AI publications by 2030.  

The strategy also aims to attract SR30 billion ($7.9 billion) in cumulative foreign direct investment and SR45 billion in local investment in data and AI by the same year. 

In a statement to the Saudi Press Agency, Al-Swaha noted that the forum offers a global stage to showcase the Kingdom’s developmental, economic, and technological progress under the framework of Vision 2030. 

He highlighted Saudi Arabia’s collaboration with the international community to harness AI as a vital tool for propelling sustainable development and achieving shared global objectives.  

He underlined that these endeavors aim to enhance quality of life, bolster the digital economy, and generate fresh employment opportunities across diverse sectors, all contributing to a sustainable and prosperous future for everyone. 

Earlier this month, the Ministry of Communications and Information Technology, in collaboration with King Abdullah University of Science and Technology and consultancy firm Hello Tomorrow, released a report highlighting Saudi Arabia’s advancements in deep technology. 

The report revealed that up to 50 percent of the Kingdom’s deep tech startups are focused on developing artificial intelligence and the Internet of Things. It also noted that more than 43 high-growth startups in Saudi Arabia collectively secured over $987 million in funding by 2022. 

The funding surge was attributed to a rapidly expanding investment ecosystem, which ranked among the top three in the Middle East and North Africa for funding volume and deals. 

In September 2024, an analysis by global consulting firm Strategy& Middle East projected that Saudi Arabia’s technology sector could achieve an SR15 billion increase in operating profit by 2028 through the adoption of generative AI. 

The study suggested that a 15-percentage-point margin growth is attainable if technology companies capitalize on the demand for advanced hardware and infrastructure while developing and commercializing new generative AI use cases.