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Our history

The first national non-profit initiative dedicated to economic research and to advocating for the private sector.

Who we are

To strengthen the private sector’s role in development, the National Center for Family Businesses and the Federation of Saudi Chambers, under the supervision of the Ministry of Economy and Planning, launched Afaq Economic Think Tank: the first national non-profit initiative dedicated to economic studies and research.

Afaq promotes collaboration and knowledge exchange with relevant entities, advocates for the private sector, including family businesses, and represents its interests to public-sector decision-makers.

Signing of the cooperation agreement between the Federation of Saudi Chambers and the National Center for Family Businesses
Signing of the cooperation agreement between the Federation of Saudi Chambers and the National Center for Family Businesses.

Key objectives

  1. 1Enable the private sector to raise its participation in the Saudi economy to the level envisioned.
  2. 2Ensure the private sector’s views are better reflected in how public-sector enquiries are addressed and answered.
  3. 3Strengthen the relationship between the public and private sectors for institutional integration.
  4. 4Enable the private sector to contribute to public policymaking.
  5. 5Close the gap left by the scarcity of think tanks in the Kingdom.

Milestones

  1. 2022

    The idea is born

    The idea was presented to the committee for strengthening public–private relations, chaired by H.E. Eng. Khalid AlFalih.

  2. 2023

    Government outreach begins

    The idea was raised again during discussions on the National Center for Family Businesses’ organisation, and outreach to government entities began.

  3. 2025

    Working with the Ministry of Economy and Planning

    The initiative was discussed on several occasions with the Ministry of Economy and Planning team.

  4. 2026

    Ministerial endorsement

    With all parties in agreement, the initiative was presented to the Minister of Economy and Planning, who commended it.

  5. 2026

    Founding partnership

    The Federation of Saudi Chambers joined the National Center for Family Businesses as a founding partner.

  6. 2026

    Official launch

    The think tank was officially launched on Wednesday, 20 May 2026, under the patronage of the Minister of Economy and Planning.