The Saudi Ministry of Commerce has reported a significant growth in business registrations, with a 78% year-on-year increase in the second quarter of 2024. Over 120,000 commercial registrations were issued during this period, compared to 68,222 in the same period last year. The e-commerce sector saw a 17.47% increase in registrations, reaching a total of 40,697. Other sectors that experienced growth include container handling services with a 48% increase and logistics services with a 76% increase. Urban and suburban passenger transportation, arts, entertainment and recreation, short-term accommodation, cloud computing services, and artificial intelligence also recorded rises in commercial registrations. The Ministry aims to establish a pioneering position for the commerce sector in the Kingdom within a fair and stimulating environment. Riyadh recorded the highest number of commercial registrations, followed by the Eastern Provinces and Makkah. Additionally, the non-oil private sector in Saudi Arabia showed robust growth in June, driven by increased demand, higher output levels, and a rise in employment. Private sector employment reached 11.4 million by the end of June, with an increase of 16,598 Saudi nationals since April. The unemployment rate for Saudi nationals dropped to 7.7% in 2023, and the unemployment rate for females dropped to 15.5% in the same year. The Human Resources Development Fund has allocated funds to boost private sector employment numbers. [7b71bfce]