Commercial registrations in Saudi Arabia surpass 1.9 million

Saudi Arabia's commercial landscape continues to thrive, with the total number of commercial registrations surpassing the 1.9 million mark. This surge in business registrations underscores the Kingdom's growing economic activity and expanding business environment. The Ministry of Commerce revealed that commercial registrations now stand at more than 1.9 million, with establishments accounting for 1.3 million, limited liability companies making up 599,000, and joint-stock companies totaling 5,000.

The rapid advancement of artificial intelligence and modern technologies is a key driver behind this growth. These technologies, particularly in the realm of artificial intelligence, are attracting significant interest from investors and entrepreneurs. The ministry noted that AI technologies recorded the highest growth in commercial registrations, with a 31 percent increase to more than 24,000 registrations.

The logistics sector saw a 25 percent growth, reaching over 32,100 registrations, while creative, arts, and entertainment activities experienced a 25 percent increase, totaling more than 8,600 commercial registrations.

Other notable sectors include the electronic games industry, where commercial registrations rose by 24 percent to 977, and cybersecurity, which saw a 22 percent increase, reaching 11,200 registrations. Virtual and augmented reality technologies also saw a 21 percent growth, surpassing 13,800 registrations. Entertainment and amusement parks experienced a 16 percent increase, with 9,400 new commercial registrations.

Financial and insurance activities grew by 12 percent, reaching 16,900 new commercial registrations, while e-commerce registrations reached 52,200, marking a 9 percent increase. The ministry also highlighted that 110 pieces of legislation have been reviewed and updated, including the Companies Law, Commercial Register, Trade Names Law, Franchise Law, and E-Commerce Law. Other key legislation includes the Commercial Courts Law, Rights in Movable Assets Law, Bankruptcy Law, and Precious Metals and Gemstones Law.