KSA This Week: Qiwa activity-change limits, eVisa for 66 nations, PIF assets at $1.21tn

This week from the Kingdom: Qiwa confirmed firms cannot change their business activity once workforce-diversity limits are exceeded, Saudi Arabia expanded its eVisa to 66 nations, the Quality of Life Program added 387,000 jobs and SR78 billion to GDP, PIF assets reached $1.21 trillion as profit more than doubled, the Kingdom jumped to 13th globally for foreign investment, an AWS report found Saudi AI-native startups outpacing global peers, and Madinah's date season showcased a $452 million export sector. Here is what matters for employers and businesses in Saudi Arabia.

Labour & Saudisation

Saudi Arabia's Qiwa platform, run by the Ministry of Human Resources and Social Development, has confirmed that firms cannot change their registered business activity if they have exceeded the maximum permitted limits for workforce nationality diversity.

The clarification builds on an earlier measure under which Qiwa began rejecting requests to change a firm's activity when the professions of its workers did not match the new activity, and stopped the transfer of employees' services to firms that had reached the maximum share of workers in professions unrelated to their activity. Together, the rules push employers to keep their registered activity, the professions on their staff's work permits, and their nationality mix properly aligned.

For employers, it reinforces that workforce structure and Saudisation compliance are now tightly linked to what a company is licensed to do — and that changes to headcount, professions or business activity need to be planned carefully within the Qiwa framework.

Source: Saudi Gazette

Legal & Regulatory

Saudi Arabia has overhauled its digital entry framework for 2026, granting citizens of 66 eligible nations streamlined access through an expanded electronic visa (eVisa) system, aligning the Kingdom with the digital-entry standards of the US, UK, Canada and Australia.

The eVisa is a one-year, multiple-entry permit allowing stays of up to 90 days, processed fully online from application and document upload through to payment, without the need to visit a diplomatic mission. It covers leisure tourism, family visits, cultural and entertainment events, and Umrah outside the Hajj season, but cannot be used for Hajj or for enrolment in educational institutions. Europe accounts for the largest share of eligible countries, with major Asian markets including China, Japan and South Korea also added.

The move is a core part of Vision 2030's push to diversify the economy and turn the Kingdom into a global tourism hub, targeting higher-spend international visitors and 'bleisure' travellers who combine business and leisure trips.

Source: Nomad Lawyer

Jobs & Vision 2030

The Quality of Life Program, one of Vision 2030's flagship initiatives, contributed SR78 billion ($20.7 billion) to Saudi Arabia's GDP in 2025, exceeding its target, and generated SR20.5 billion in non-oil revenues, according to its 2025 annual report.

The program created 387,000 direct jobs by year-end, with local content accounting for 44 percent of program-related activity. Tourism was a standout: Saudi Arabia ranked first globally for international tourism revenue growth in Q1 2025 versus 2019, and the Saudi Summer season drew more than 32 million visitors who spent over SR53.2 billion. The Furas platform enabled more than 19,000 investment opportunities and generated over SR9 billion in returns by linking 49 government entities with private-sector partners.

Sport, culture and entertainment also expanded, with adult participation in regular physical activity reaching 59.1 percent and cultural facilities rising to 94 — underlining how lifestyle sectors are becoming a meaningful engine of jobs and diversification.

Source: Arab News

Investments

Saudi Arabia's Public Investment Fund (PIF) increased its total assets 5.09 percent to SR4.54 trillion ($1.21 trillion) by the end of 2025, according to a disclosure filed with the London Stock Exchange. Net profit more than doubled to SR65.1 billion from SR25.8 billion a year earlier, while gross revenue rose 9 percent to SR449.93 billion and operating profit climbed to SR77.9 billion.

The fund kept strong liquidity, with over SR350 billion in cash and equivalents. Over the year it launched Humain to invest across the AI value chain — infrastructure, data centres, cloud and models — with Aramco taking a minority stake, and signed partnerships with Goldman Sachs Asset Management and Franklin Templeton to attract global capital to Saudi and Gulf markets.

PIF also advanced tourism through Expo 2030 Riyadh Co. and diversified its funding with a debut euro green bond, underscoring its central role in financing Vision 2030 projects and the jobs they create.

Source: Arab News

Economy & Trade

Saudi Arabia rose to 13th place globally for attracting foreign direct investment in 2025, up from 17th the year before, according to the UN Conference on Trade and Development (UNCTAD). The Kingdom attracted $33 billion in FDI, a 51.14 percent increase on 2024.

The jump reflects Vision 2030's drive to pull in long-term foreign capital and reduce reliance on oil, with a target of $100 billion in annual FDI by 2030. UNCTAD credited energy, infrastructure and diversification strategies for strong Gulf inflows. Separately, GASTAT data showed Saudi FDI inflows rose 2.4 percent year on year to SR26.6 billion ($7.1 billion) in the first quarter of 2026.

Globally, FDI rose 6 percent to $1.62 trillion in 2025, with the US, Singapore and Hong Kong leading — making Saudi Arabia's climb up the rankings a notable signal of investor confidence.

Source: Arab News

Technology

Saudi Arabia's AI-native startups are outperforming global and regional peers in strategy and commercial growth, according to Amazon Web Services' 'Engines of Growth' report, which surveyed 3,413 startup founders and senior leaders across 20 countries.

The report found that 72 percent of Saudi AI-native startups have a formal AI strategy, above the 68 percent global AI-native average, and that they averaged 150 percent annual revenue growth — far above the 62 percent for Saudi startups overall. Saudi AI-native firms are almost five times more likely than traditional Saudi startups to generate over $1 million in revenue, 48 percent earn more than $400,000 per employee, and 98 percent use cloud services. Some 63 percent have built proprietary AI capabilities.

AWS's Saudi country leader Amr Al-Masri attributed the momentum to Vision 2030 investment in digital infrastructure, AI development and startup support, noting the difference is not whether firms use AI but how deeply they build around it.

Source: Arab News

Tourism & Trade

Madinah Dates Season opened this week as a showcase for one of Saudi Arabia's fast-growing non-oil export sectors, combining the Kingdom's agricultural heritage with modern investment opportunities under Vision 2030.

Saudi Arabia has more than 37.5 million date palms producing about 1.92 million tonnes of fruit each year, with the Madinah region ranking third nationally at 347,000 tonnes — about 18 percent of national output. Saudi dates — including the prized Ajwa, Barni, Safawi and Mabroom varieties — are now available in more than 133 countries, with annual exports exceeding SR1.695 billion ($452 million).

Held under the patronage of the governor of Madinah, the season supports farmers, strengthens date-related industries and boosts food processing, packaging and logistics, reinforcing the Kingdom's position as a leading global producer and exporter of dates.

Source: Arab News

TASC in Saudi Arabia

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