AI technologies lead growth in Saudi commercial registrations

The Saudi Ministry of Commerce has reported a significant surge in commercial registrations, driven largely by the AI and technology sectors, in alignment with the country's Vision 2030 and the Year of Artificial Intelligence. This growth is evident in the notable rise of commercial registrations across sectors identified as promising within the Saudi Vision 2030 framework.

Artificial intelligence technologies emerged as the sector with the highest growth rate, with a substantial 31% increase, resulting in 24,552 commercial registrations. Logistics services also exhibited a strong growth trajectory, seeing a 25% increase, which led to 32,154 commercial registrations. Creative, arts, and entertainment activities followed suit with a 25% growth, accumulating 8,650 commercial registrations.

The electronic gaming industry experienced a 24% rise, registering 977 new commercial registrations. Cybersecurity was another sector that saw a notable increase of 22%, totaling 11,275 commercial registrations. Virtual and augmented reality technologies witnessed a 21% growth rate, amounting to 13,853 registrations. Additionally, amusement and gaming cities saw a 16% increase, contributing to 9,483 commercial registrations.

Financial and insurance activities posted a growth rate of 12%, with 16,950 commercial registrations. E-commerce, a key player in the digital economy, reached 52,241 registrations, marking a 9% increase. The Ministry of Commerce highlighted that the cumulative number of commercial registrations across the Kingdom has surpassed the 1.9 million mark, comprising 1.3 million for sole proprietorships, 599,000 for limited liability companies, and 5,000 for joint stock companies.