Al-Jouf , a province in Saudi Arabia, has experienced a 15% annual growth in its commercial activity in 2024. This growth follows successful economic initiatives in the region. A recent report by the Vision Realization Office highlights a sharp increase in new business registrations. New registrations have risen by 98%, indicating a thriving economic environment.
This surge aligns with Saudi Arabia’s Vision 2030, which aims to drive development across all regions of the country. The growth in Al-Jouf is particularly significant due to its role as the northern gateway to Saudi Arabia. The region connects to Jordan and supports trade via the Al-Haditha land port, one of the busiest in the nation. In 2019, this port handled imports and exports worth $247 million, underscoring the region’s importance to the country’s trade.
Moreover, the study shows that Al-Jouf has supported 478 funded projects, with liquidity totaling SR22.05 million ($5.88 million). Small and medium-sized enterprises (SMEs) also recorded a 33% growth in 2024 compared to the previous year. Impressively, about 52% of projects were funded by women, demonstrating the growing role of women in the region’s economy.
Much of this growth is attributed to the leadership of Prince Faisal bin Nawaf bin Abdulaziz, the region’s governor. His efforts have focused on ensuring the success of development projects and overcoming challenges. Under his leadership, Al-Jouf has seen several initiatives aimed at fostering innovation and attracting investment.
Prince Faisal also emphasized that Al-Jouf offers a fertile environment for investment, especially in renewable energy and food supply. These sectors make the region an attractive destination for investors, with the potential for job creation and economic growth.
