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Startup wrap — Early stage funding maintains growth momentum in MENA

Startup wrap — Early stage funding maintains growth momentum in MENA
Riyadh-based Spare, an open banking infrastructure provider, raised $5 million in a pre-Series A funding round, led by anb Seed Fund. (Supplied)
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Updated 19 sec ago
Nirmal Narayanan

Startup wrap — Early stage funding maintains growth momentum in MENA

Startup wrap — Early stage funding maintains growth momentum in MENA
  • Startup funding witnessed a 74% year-on-year increase in August
Updated 19 sec ago
Nirmal Narayanan

RIYADH: Startups across the Middle East and North Africa region witnessed multiple funding rounds in the past week, as companies across a wide range of industries continue to expand their operations. 

The sustained momentum in early stage funding reflects continued investor interest in the region amid global economic headwinds. 

A report released by Wamda revealed that startup funding in the MENA region witnessed a 74 percent year-on-year increase in August, with $337.5 million secured across 47 deals. 

ֱ led the region for the second consecutive month, attracting $166 million across 19 deals, while the UAE followed with $154 million raised by 11 startups.

Spare secures $5m

Riyadh-based Spare, an open banking infrastructure provider, raised $5 million in a pre-Series A funding round, led by anb Seed Fund, the venture capital fund of ANB Capital. 

Other investors included Vision Ventures, SEEDRA Ventures, 500 Global, Boubyan Ventures, and Middle East Venture Partners, according to a press statement. 

The company said that the new capital will be used to scale Spare’s Open Banking platform and API integrations, accelerate product development, and drive expansion across the Gulf Cooperation Council region. 

“We’re building the financial rails for the next generation of businesses in MENA. This investment allows us to move faster, doubling down on product innovation, deepening our integrations with regional banks, and accelerating adoption of secure, localized fintech infrastructure solutions across the region,” said Dalal Al-Rayes, CEO and co-founder of Spare. 

Omar Ardati of anb seed Fund said: “Spare is setting a new standard financial infrastructure in MENA. Their commitment to speed, simplicity, and security — combined with a deep understanding of local market dynamics — makes them a standout company in the region’s fintech landscape.” 

HALA raises $157m 

Saudi-based fintech firm HALA has raised $157 million in a series B round led by the Rise Fund, TPG’s multi-sector global impact investing strategy, and Sanabil Investments, wholly owned by the Kingdom’s sovereign wealth fund. 

The funding round also witnessed the participation of QED, Raed Ventures, and Impact 46, as well as Middle East Venture Partners, Isometry Capital, Arzan VC, and BNVT Capital. 

Other participants in the round were Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital.

In a press statement, the company said the funding will be used to position itself in the Saudi market and offer more embedded financial services and lending products catered to support the growth of MSMEs in the Kingdom. 

The financial assistance will be also used to expand HALA’s presence regionally. 

“This landmark investment is a turning point for HALA, reflecting on our relentless pursuit of innovation and excellence in serving small businesses. We are honored that our new investors recognize the potential of our vision and the impact we aspire to make in the MSME landscape. Our journey is just beginning, and this support fuels our drive to create meaningful change,” said Esam Alnahdi, co-founder and chairman of HALA. 

“This investment underscores our belief in HALA’s potential to reshape the future of financial services for SMEs and aligns with Sanabil’s mission to support visionary companies with patient capital and strategic guidance. We look forward to partnering with HALA and the other investors in supporting their continued success and expansion,” said a spokesperson for Sanabil Investments. 

LDUN secures $4.8m

LDUN, a ֱ-based fintech firm, raised $4.8 million in a seed round led by Sadu Capital, with participation from Suhail Ventures and Nomu Angel Investment.

The funding will be used to expand digital financial services for MSMEs across the Kingdom. 

The financial assistance will also help LDUN grow its product suite, strengthen regional partnerships, and simplify complex financial processes with technology. 

Founded in 2021 by Firas Al-Hamdan and Faisal bin Dukhail, LDUN focuses on offering factoring solutions for MSMEs. 

The company also offers a range of financial services, including Shariah-compliant buy now, pay later, trade credit, factoring, and reverse factoring.

Fintologya closes $1m seed funding round

Bahrain-based Fintologya, a provider of cloud infrastructure solutions for payments, has successfully closed a $1 million seed funding round led by a Gulf holding company. 

The funding is expected to help the company create secure, modular, cloud-native payment platforms that empower banks, fintechs, and financial institutions in the region. 

The company is currently active in ֱ and Bahrain, and with such funding, it aims to expand further across Gulf markets. 

Amaani raises $3m 

Amaani, a beauty and wellness firm from the Middle East, has raised $3 million in seed funding for its debut Arab beauty brand AÏZA, according to a press statement. 

The funding round was led by Peak XV’s Surge, formerly Sequoia Capital India & SEA, marking their first consumer and seed investment in the MENA region. 

Founded by Shubham Poddar, a former Sequoia India investor who helped drive its expansion in the Middle East with investments across fintech, food tech, and property tech, Amaani is built on a vision to create global beauty brands from the Arab region.

“With the region boasting among the highest per capita beauty spend globally, growing online penetration, and an increasing demand for local relevance, Amaani is poised to meet a generational shift in how consumers shop and what they seek: brands that reflect their identity, values, and aspirations,” said Poddar. 

GV Ravishankar, managing director at Peak XV, said that Amaani is well positioned to lead the beauty and personal care market in the Arab region. 

“The GCC beauty and personal care market is already a $12 billion industry, growing at over 12 percent annually, with some of the highest per capita spends globally. We believe the region is now primed to produce the next wave of culturally resonant, globally admired consumer brands. Amaani is well positioned to lead this movement,” said Ravishankar. 

Through the funding, Amaani plans to scale AÏZA across the region and globally, both online and through retail, while also developing a portfolio of future brands in the sector. 

UAE-based Armoir raises $500k 

UAE-based luxury luggage brand Armoir has raised $500,000 in a seed round led by Salica Oryx Fund, with participation from Plus VC and leading global angel investors. 

The new capital will be deployed to launch additional collections, expand footprint across MENA and Europe, and scale the team to strengthen design innovation, customer experience, and global growth, according to a press statement. 

“Partnering with Salica Oryx Fund, Plus VC, Chalhoub Group, and our angel investors brings world-class expertise in scaling consumer and lifestyle brands globally. This funding gives us the runway to accelerate design innovation, expand globally, and establish Armoir as a leading brand in premium travel,” said Martial Dahan, founder and CEO of Armoir.

Topics: Start-up of the Week MENA

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ֱ’s AI moment takes shape at Money20/20

ֱ’s AI moment takes shape at Money20/20
Updated 19 September 2025
Waad Hussain Alkhobar

ֱ’s AI moment takes shape at Money20/20

ֱ’s AI moment takes shape at Money20/20
Updated 19 September 2025
Waad Hussain Alkhobar

RIYADH: The Saudi edition of Money20/20 Middle East this week offered a snapshot of how rapidly artificial intelligence is moving from hype to hard deployment in the Kingdom’s financial sector. 

With more than 450 fintech companies and over 1,050 global investors gathering under the theme “Where Money Does Business,” the event showed how central AI has become to ֱ’s Vision 2030 ambitions and how urgent the conversation around regulation, infrastructure and talent has become.

The message across panels was clear: AI is no longer an experiment. It is increasingly embedded in every corner of finance, from fraud detection and onboarding to risk modeling and compliance. The more AI promises to accelerate growth, the more scrutiny it invites. 

For ֱ, the challenge now is scaling adoption while maintaining trust, regulatory alignment and data integrity.

The Kingdom is projected to reap nearly $135.2 billion from AI by 2030, equivalent to about 12.4 percent of gross domestic product, according to PwC. That potential is driving urgency, with nearly all financial-sector leaders saying the pressure to deploy AI has grown over the past six months. Regulators are responding in parallel.

The Saudi Central Bank has expanded its sandbox programs and is introducing clearer guidelines to ensure innovation happens under strong consumer-protection and data-governance frameworks. Industry insiders at the event said this collaboration between regulators and the private sector is essential if the Kingdom is to balance speed with safety in AI rollouts.

Khalid Al-Sharif, CEO of Abdul Latif Jameel Finance, said the next stage of AI adoption in finance will depend on coordination between regulators, financial institutions and technology providers. 

“The next phase is about coordination,” he said. “Regulators must keep issuing workable standards, financial institutions must document and monitor models, and technology providers must build for local requirements rather than import generic systems.”

Khalid Al-Sharif, CEO of Abdul Latif Jameel Finance. LinkedIn

He added that enabling micro and small businesses is central to Vision 2030 and pointed to Abdul Latif Jameel Finance’s Bab Rizq Jameel Microfinance program, which has issued loans to nearly 300,000 beneficiaries since 2004 — 81 percent of them women. “Our goal is to empower entrepreneurs and women-led enterprises so they can contribute more strongly to national GDP,” he said.

Al-Sharif also emphasized the importance of building trust as technology advances. “ֱ’s financial sector is ready for this leap,” he said. “But success will depend on responsible innovation that protects consumers and uses data ethically while enabling growth.”

Among the announcements at the Money20/20 conference in Riyadh was Singapore-based Dyna.Ai’s decision to expand in the Kingdom with the launch of its Agentic AI Suite and Arabic-first AI Employees. 

These digital teammates, including an AI credit underwriter, knowledge partner and recruiter adviser, are designed to integrate into enterprise workflows and support compliance, customer service and operational efficiency.

“AI Employees are advanced digital teammates that augment human capabilities,” said Tomas Skoumal, chairman and co-founder of Dyna.Ai. “They deliver faster, more accurate, and personalized customer experiences while collaborating directly with human workers.”

The company says its tools deliver more than 95 percent accuracy with response times under 200 milliseconds. Importantly, the suite was built with Arabic capabilities from day one, meaning it can understand dialects, cultural nuances and regulatory requirements specific to the Kingdom.

Tomas Skoumal, chairman and co-founder of Dyna.Ai. Facebook

While announcements like Dyna.Ai’s show confidence in the market, ֱ’s journey toward AI at scale still faces hurdles. Executives at Money20/20 pointed to a shortage of AI specialists and data scientists even as universities and training programs accelerate talent development.

Infrastructure gaps also persist, with demand growing for high-performance computing, sovereign data centers and faster data-processing capabilities. 

Regulatory certainty is another area to watch. Though sandboxes and ethical frameworks are already in place, binding rules for algorithmic transparency, privacy and bias mitigation are still being developed. 

Industry experts warn that without clear, enforceable guidelines, trust in AI systems could be undermined before they are fully mainstream.

Money20/20 is more than a showcase. It is one of the few places where regulators, legacy banks, fintech startups and investors meet under one roof to compare strategies and align on priorities. 

This year, announcements such as Google Pay’s launch in the Kingdom, Alipay+ acceptance by 2026, and a series of capital markets reforms highlighted the pace at which ֱ is trying to modernize its financial ecosystem.

For companies including Dyna.Ai, the event serves as a stress test, a chance to prove whether their solutions can meet Saudi-specific expectations for speed, accuracy, compliance and cultural fit. 

For regulators and policymakers, it is an opportunity to gauge market readiness and identify where rules and infrastructure must catch up with innovation.

ֱ’s AI story is now entering what many at the conference called its execution phase. 

The big-picture goals have been set: billions of dollars in AI-driven GDP impact, a skilled workforce of 20,000 specialists by 2030 and a digitally transformed financial system. What comes next is a test of implementation, how quickly these ambitions can translate into measurable outcomes.

Dyna.Ai’s Arabic-first approach offers one glimpse of what the future might look like: instant, personalized and compliant digital interactions that support growth while keeping human workers focused on higher-value tasks. But it is just one piece of a much larger transformation.

The Kingdom’s AI moment is no longer just a promise. Its success will be measured by the ability to build trust, close infrastructure gaps, nurture talent and ensure every algorithm deployed works for both the economy and the people it serves.

Topics: Eye On AI Money20/20 artificial intelligence (AI)

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How AI could end ֱ’s ‘infinite workday’

How AI could end ֱ’s ‘infinite workday’
Updated 18 September 2025
Waad Hussain

How AI could end ֱ’s ‘infinite workday’

How AI could end ֱ’s ‘infinite workday’
  • AI adoption is already demonstrating its potential to reshape work across the Kingdom.
  • Companies must ‘redesign workflows to cut through digital noise, unlock focus’
Updated 18 September 2025
Waad Hussain

ALKHOBAR: At 10 p.m. in Riyadh, a marketing executive checks her inbox one last time. She has already answered over 100 emails, managed a constant stream of Teams messages, and sat through five back-to-back meetings. By 6 a.m., she will be back online.

This “infinite workday” is becoming the norm. According to Microsoft’s latest Work Trend Index, nearly 30 percent of employees check email late at night, while 40 percent are online by early morning. The average Saudi worker now faces a flood of 117 emails and 153 Teams messages daily, with interruptions every two minutes — a pattern that has blurred the line between work and rest.

For Turki Badhris, president of Microsoft Arabia, this is precisely why organizations must move beyond basic digitization toward full transformation.

“AI is not a passing trend. It’s a generational shift that is redefining how work gets done, how decisions are made, and how value is created,” Badhris told Arab News. “The organizations that thrive will be those that are willing to reimagine, not just automate, how work works.”

Turki Badhris, president of Microsoft Arabia. (Supplied)

He calls this the “Frontier Firm mindset,” where companies redesign workflows to cut through digital noise and unlock focus, rather than simply adding new technology on top of old processes.

Human resources professionals are seeing the human cost of this always-on culture firsthand.

“With digital transformation under Vision 2030 and the shift to flexible work models after the pandemic, it’s becoming harder for people to switch off,” said Aminah Alalaiwi, assistant manager HR Business Partner at Bupa Arabia.

“Over time, that takes a real toll on the employee and induces burnout, stress, and lower engagement,” she said.

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To address this, Alalaiwi completed Mental Health First Aid training, an initiative her company encouraged.

“It gave me the tools to spot early signs of struggle and respond in a way that actually helps,” she added. “That’s why I believe HR has to go beyond policies. We need to actively create cultures where well-being and performance reinforce each other.”

AI adoption is already demonstrating its potential to reshape work across the Kingdom. At Obeikan Investment Group, the O3ai platform — built on Azure OpenAI and IoT — analyzes production data in real time, boosting operational efficiency by 30 percent and cutting costs by a similar margin across 20 factories.

Aminah Alalaiwi, assistant manager HR Business Partner at Bupa Arabia. (Supplied)

At Ma’aden, Microsoft Copilot and Azure OpenAI are used to summarize policies, draft documents, and automate governance workflows, saving employees more than 2,200 hours every month. At Sanabil Investments, structured adoption of Copilot led to 70 percent employee uptake in just two months, cutting content creation time by 50 percent.

Badhris emphasizes that Microsoft’s role is to help companies go beyond merely deploying tools.

“We work hand-in-hand with leaders to align technology adoption with business priorities, governance frameworks, and change management strategies,” he said. “Our approach is about co-creating roadmaps for responsible innovation.”

To support this transformation, Microsoft is investing heavily in local infrastructure. Its new cloud datacenter region in ֱ will provide enterprise-grade services with low-latency access and full compliance with data residency requirements, enabling organizations to scale AI securely.

DID YOU KNOW?

• Microsoft Arabia has committed to training 100,000 Saudi nationals in AI skills by 2025.

• The initiative has been launched in partnership with the Ministry of Communications and Information Technology and SDAIA Academy.

• AI adoption is already demonstrating its potential to reshape work across the Kingdom.

But as Alalaiwi warns, even the best tools can backfire without clear boundaries.

“AI can automate repetitive tasks, prioritize communications, and support smarter scheduling, reducing stress and allowing employees to disconnect after hours,” she said. “However, without clear policies, these same tools can generate more notifications, blur boundaries, and increase the expectation of being ‘always available.’”

Skilling remains a cornerstone of this shift. Microsoft Arabia has committed to training 100,000 Saudi nationals in AI skills by 2025, in partnership with the Ministry of Communications and Information Technology and SDAIA Academy. Programs like the Microsoft AI Academy and the Center of Excellence for AI and Cloud Computing aim to prepare Saudi talent with globally recognized certifications and hands-on skills.

Microsoft Arabia has committed to training 100,000 Saudi nationals in AI skills by 2025, in partnership with the Ministry of Communications and Information Technology and SDAIA Academy. (Supplied)

Badhris advises business leaders to act now rather than wait for a perfect plan.

“Start small but start now,” he said. “Identify where AI can cut through the noise, reduce repetitive tasks, and unlock focus. These quick wins often become the catalyst for deeper cultural change.”

As ֱ accelerates toward Vision 2030, the pressure to transform digitally is rising. But Badhris believes the real competitive edge in the AI era will come not from being the busiest, but from being the smartest—and the most human.

“We can let work spill endlessly into our evenings,” he said, “or we can reclaim time for the things that matter.”


 

 

Topics: Eye On AI Editor’s Choice Turki Badhris Microsoft Arabia

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Saudi port exports rise 9.3% as total cargo hits 334.5m tonnes


Saudi port exports rise 9.3% as total cargo hits 334.5m tonnes

Updated 18 September 2025
Nadin Hassan

Saudi port exports rise 9.3% as total cargo hits 334.5m tonnes


Saudi port exports rise 9.3% as total cargo hits 334.5m tonnes

Updated 18 September 2025
Nadin Hassan

RIYADH: ֱ’s ports saw robust growth in 2024, with exports climbing 9.3 percent to 222.4 million tonnes, pushing total cargo volumes to 334.5 million tonnes and reinforcing the Kingdom’s expanding role in global trade.

Data from the General Authority for Statistics showed that King Fahad Industrial Port in Yanbu led in exports, handling 114 million tonnes — or 51 percent of the total. Imports also rose 3.6 percent to 108.9 million tonnes last year.

The surge in cargo aligns with ֱ’s National Transport and Logistics Strategy under Vision 2030, which seeks to position the Kingdom as a global logistics hub connecting Asia, Europe, and Africa.

GASTAT’s report highlighted container activity, noting that more than 2.5 million inbound and outbound containers were handled in 2024, including 1.3 million outbound and over 1.2 million inbound units. Of these, 20-foot containers exceeded 1.3 million, while 40-foot containers surpassed 1.1 million, alongside roughly 1,400 containers of other sizes.

In terms of port throughput, Yanbu led with 39.8 percent, followed by King Fahad Industrial Port in Jubail at 19 percent. King Abdulaziz Port in Dammam accounted for 15.5 percent, Jeddah Islamic Port handled 14.1 percent, and the remaining 11.6 percent was distributed among other ports nationwide.

King Abdulaziz Port in Dammam also received the largest share of imports, totaling 38 million tonnes (35 percent of inbound cargo), while Yanbu dominated exports with 114 million tonnes (51 percent of outbound shipments).

Liquid bulk cargo topped all categories, exceeding 177 million tonnes, underscoring the continued importance of oil and petrochemical trade. Transshipment cargo surpassed 21 million tonnes, including nearly 11 million tonnes loaded and 10.4 million tonnes unloaded — equivalent to around 2 million standard containers.

Vessel traffic remained strong, with 8,693 ships docking at Saudi ports. Jeddah Islamic Port received the highest volume at 3,805 vessels, followed by King Abdulaziz Port with 1,980, Neom Port with 951, and Yanbu with 554.

Passenger traffic, however, fell 19.6 percent from 2023, totaling 912,800 travelers. Jazan Port recorded the highest passenger activity at over 485,000, followed by Jeddah Islamic Port with 217,600 and Neom Port with 205,100.

Compiled using data from the Saudi Ports Authority and related entities, the annual maritime report provides valuable insights into the flow of goods, passengers, and vessels, offering a foundation for future transport sector planning and development.

Topics: logistics

Closing Bell: Saudi main index rises to close at 10,780 

Closing Bell: Saudi main index rises to close at 10,780 
Updated 18 September 2025
Reem Walid

Closing Bell: Saudi main index rises to close at 10,780 

Closing Bell: Saudi main index rises to close at 10,780 
Updated 18 September 2025
Reem Walid

RIYADH: ֱ’s Tadawul All Share Index rose on Thursday, gaining 130.30 points, or 1.22 percent, to close at 10,780.69. 

Total trading turnover of the benchmark index reached SR16.4 billion ($4.3 billion), with 191 stocks advancing and 58 retreating. 

The Kingdom’s parallel market, Nomu, also climbed, adding 167.71 points, or 0.67 percent, to close at 25,290.92, as 38 stocks gained while 42 declined. 

The MSCI Tadawul Index advanced 15.37 points, or 1.11 percent, to close at 1,398.79. 

The day’s top performer was MBC Group Co., whose shares surged 9.97 percent to SR32.20. Other strong gainers included Electrical Industries Co., up 9.90 percent to SR9.99, and Dar Al Majed Real Estate Co., which rose 7.62 percent to SR13.14. 

On the downside, Saudi Public Transport Co. posted the steepest decline, falling 4.46 percent to SR12.42. Musharaka REIT Fund slipped 3 percent to SR4.20, while Alandalus Property Co. dropped 2.62 percent to SR18.60. 

In corporate developments, Al Kathiri Holding Co. announced that its subsidiary, ALIAN Industry Co., signed a memorandum of understanding with the Rwanda Housing Authority to develop 10,000 affordable housing units. 

According to a Tadawul statement, this MoU aligns with Al Kathiri Holding’s strategy to grow its presence in international markets and introduce modern construction technologies globally, supporting Saudi Vision 2030’s goal of promoting national exports.   

Al Kathiri Holding Co. ended the session at SR2.09, up 0.48 percent. 

Separately, ֱn Oil Co., Aramco, completed a $3 billion sukuk issuance, comprising 15,000 trust certificates with a par value of $200,000 each. The issuance offers a return of 4.125 percent for five-year certificates and 4.625 percent for 10-year certificates.  

Aramco shares closed at SR24.47, up 1.54 percent. 

Meanwhile, First Avenue for Real Estate Development said the White Land Fees program will have no impact on its Riyadh City portfolio, which consists entirely of income-generating projects and developments under construction with issued building permits. The company emphasized it does not own any undeveloped or “white” land.  

Shares of First Avenue closed at SR8, up 3.71 percent. 

Topics: TASI NOMU

ֱ’s Al-Baha region unveils industrial projects worth $24m 

ֱ’s Al-Baha region unveils industrial projects worth $24m 
Updated 18 September 2025
MOHAMMED AL-KINANI

ֱ’s Al-Baha region unveils industrial projects worth $24m 

ֱ’s Al-Baha region unveils industrial projects worth $24m 
Updated 18 September 2025
MOHAMMED AL-KINANI

JEDDAH: ֱ’s Al-Baha region has unveiled SR89 million ($24 million) in industrial projects aimed at attracting investment, creating jobs, and developing its mining and small and medium enterprises sectors. 

Prince Hussam bin Saud bin Abdulaziz, governor of the southwestern region, inaugurated several infrastructure and utility projects at the First Industrial City in Al-Baha, part of efforts to strengthen the local industrial and investment environment. 

The launch was attended by Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef, who also chairs the Saudi Authority for Industrial Cities and Technology Zones, known as MODON, along with its CEO Majed bin Raed Al-Argoubi, according to a statement. 

Al-Baha holds significant untapped mineral wealth, which ֱ aims to explore as mining emerges as a key driver of economic diversification under Vision 2030. 

The Ministry of Industry and Mineral Resources recently highlighted the region’s deposits of precious and base metals — including gold, silver, copper, zinc, and lead — alongside industrial rocks and ornamental stones such as feldspar, marble, and pozzolan, estimating the value of these resources at SR285.4 billion. 

The newly launched projects include integrated service and logistics facilities in the industrial city, which “will help attract more quality investments, in line with Saudi Vision 2030 objectives to support regional development and empower the industrial sector,” the statement said. 

Multiple memorandums of understanding were also signed to promote investment, develop national competencies, and strengthen cooperation with academic and professional institutions, including the Technical and Vocational Training Corp. and Al-Baha University. 

“The agreements aim to enhance collaboration in training, exchanging experiences, qualifying graduates for employment in the industrial sector, and supporting small and medium enterprises through joint programs that contribute to both investment and industrial efficiency in the region,” the statement added. 

Prince Hussam said the projects underscore the Kingdom’s commitment to advancing the sector, attracting investment, creating youth employment, and boosting SMEs through collaboration with universities and educational institutions. 

Alkhorayef stressed that the industrial and mining sectors are vital for Vision 2030, contributing significantly to economic diversification. 

“He explained that the ministry seeks to extend its initiatives to all regions of the Kingdom, including Al-Baha, by enabling the local industrial environment and promoting unique industries that will enhance the region’s economic role,” the statement said. 

The ministry is collaborating with major companies on exploration, creating investment opportunities in mining and downstream industries, and encouraging investors to seize these prospects. 

By July, the region had granted 39 mining licenses, representing total investments of SR117 million. 

Al-Baha’s industrial base comprises 49 factories: 34 in building materials, nine in food production, five in plastics and rubber, with the remainder in chemicals, metals, and other sectors, according to ministry spokesperson Jarrah Al-Jarrah. 

Topics: Mining Al-Baha

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