Cooperatives in Saudi Arabia Become Key Driver of Economic and Social Development

The cooperative sector in the Kingdom is witnessing an unprecedented stage of institutional maturity, supported by new regulations and initiatives that have restructured the sector, improved its efficiency, and strengthened its contribution to sustainable economic and social development in line with Saudi Vision 2030.
 Led by the Ministry of Human Resources and Social Development, this transformation is driven by the first national strategy for the sector, updated regulatory frameworks, and expanded partnerships with government, private, and financial entities, all of which have created a supportive environment for cooperative growth and community service.
 The sector has grown significantly, with the number of cooperatives and their revenues increasing by more than 130% since 2019, reaching 558 cooperatives. Reforms also reduced the time to establish a cooperative from 60 days to just three, accelerating the transition from idea to implementation.
 This progress confirms that the cooperative sector is a promising development avenue, contributing to economic diversification, community participation, and local development through governance, efficiency, and sustainability.