Saudi Arabia Macroeconomic Developments
- Saudi Arabia launched its first administrative enforcement court with jurisdiction over government entities and officials in a bid to boost investor confidence. The move follows the enactment of a civil transactions law last month.
- Crown Prince H.R.H. Mohammed bin Salman announced the National Biotechnology Strategy. The strategy aims to contribute three percent, amounting to SAR130 billion, to the non-oil gross domestic product (GDP), in addition to generating thousands of jobs by 2040. This strategy marks a significant milestone for Saudi Arabia in becoming a major player in the regional and global biotechnology sector.
