22/02/2023
Happy Founding Day, Saudi Arabia!
As a proud citizen, let's take a moment to celebrate the remarkable achievements of our
business community.
Did you know that our nation has a long
history of trade and commerce dating back centuries to the ancient Silk Road?
Here are some interesting facts from our
reach history:
• The ancient city of Al-Ula was once a hub for the trade of spices, textiles, and other goods between the Arabian Peninsula and the Mediterranean world.
• During the 1950s and 60s, the development of the oil industry in Saudi Arabia led to a surge in infrastructure projects, including the construction of ports, highways, and airports.
• In the modern era, Saudi Arabia has been a pioneer in the development of Islamic banking, with total assets of Islamic banks and financial institutions exceeding $2.8 trillion
worldwide.
• The Saudi Stock Exchange, also known as Tadawul, was established in 2007, opening up the country's financial markets to foreign investors for the first time.
We've come a long way since then.
Today, our economy is one of the most vibrant and prosperous in the world, and our business community continues to thrive and innovate.
The petrochemical sector accounts for over 70% of Saudi Arabia's non-oil exports, with the country producing a wide range of products, including plastics, fertilizers, and pharmaceuticals.
The Saudi Stock Exchange, Tadawul, is the largest stock exchange in the Middle East, with a market capitalization of over $2 trillion. Moreover, the government has been actively supporting and investing in technology startups, with a focus on fields such as e-commerce, fintech, and healthcare.
We should be proud of our past and optimistic about our future.
The government's Vision 2030 plan aims to transform the Saudi economy and society by creating a thriving private sector, increasing economic competitiveness, and promoting
entrepreneurship and innovation.
Happy Founding Day, Saudi Arabia!
Let's celebrate our nation's remarkable achievements and bright future together!