Saudi Commerce Ministry Reports 67% Surge in New Commercial Registrations

The Ministry of Commerce has released its quarterly business sector bulletin for the fourth quarter of 2024, which highlights significant growth and development within the Kingdom’s business landscape.

The report reveals a substantial 67% increase in new commercial registrations issued during the fourth quarter compared to the same period last year. Over 160,000 new records were issued in the past three months, bringing the total number of active commercial registrations across the Kingdom to over 1.6 million.

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 expansaion, with a 10% increase in commercial registrations compared to the same quarter last year, reaching a total of 40,953 registrations.