In a significant move to boost economic ties, the Saudi-Yemeni Business Council announced on December 22, 2024, the establishment of three joint Saudi-Yemeni companies aimed at enhancing trade and investment. The announcement came during the council's meeting in Mecca, attended by over 300 investors from both nations.

Abdullah bin Marai bin Mahfouz, the Saudi head of the council, revealed that the first company will focus on renewable energy, with an initial capital of $100 million. The second venture will be in telecommunications through "Starlink," while the third company will organize exhibitions and conferences in Yemen to support reconstruction efforts and promote Saudi products.

The council also launched several initiatives to improve cross-border trade, including plans to develop border crossings, establish a club for Yemeni investors in Saudi Arabia, and create health inspection facilities to enhance Yemeni exports. Additionally, they proposed the establishment of smart food cities to bolster food security and addressed banking challenges faced by traders.

Abdul Majid Al-Saadi, the Yemeni co-chair, praised Saudi Arabia's new investment framework, noting that Yemeni capital is increasingly flowing into the kingdom, amounting to around 18 billion riyals, making it the third-largest investment source.