Richard Branson to invest in Saudi Red Sea project

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Virgin airlines founder Richard Branson. (AFP)
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Richard Branson visiting an old railway system in Madinah. (Courtesy photo)
Updated 02 October 2017
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Richard Branson to invest in Saudi Red Sea project

JEDDAH: Virgin airlines founder Richard Branson will invest in a Red Sea project that aims to turn 50 Saudi Arabian islands into luxury tourism destinations, the Saudi government announced on Sunday.
Branson is the first international investor to commit to the project, Saudi Arabia’s information ministry said, in what officials called “a clear sign that Saudi Arabia is opening its doors to international tourism.”
Branson also visited the tombs at Madain Saleh — an UNESCO World Heritage site located near a string of new hotels — in a trip to the Gulf kingdom that appears to be aimed at attracting further international attention, both investment and tourism.
“This is an incredibly exciting time in the country’s history and I’ve always felt that there’s nothing like getting a firsthand impression,” Branson said in a statement released by the information ministry.
The scheme aims to pull the region’s biggest economy out of its dependence on oil and diversify the country’s economic revenue model.
On August 1, Saudi Arabia announced plans to turn 34,000 square kilometers (13,127 square miles) of its Red Sea coastline into luxury resorts.
The project is aimed at attracting international tourists to a country where alcohol is prohibited and the mobility and dress of women restricted.
The Saudi Public Investment Fund, which is headed by Prince Mohammed, will provide the initial investment into the Red Sea project, with construction slated to start in 2019.
The Red Sea project is expected to generate 35,000 jobs, according to the Saudi government.


Crown prince award ‘will build Saudi-Sino cultural bridges’

Updated 22 February 2019
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Crown prince award ‘will build Saudi-Sino cultural bridges’

ARAB NEWS BEIJING: Leading academics and literary talents from Saudi Arabia and China will be honored under an award scheme sponsored by Saudi Crown Prince Mohammed bin Salman.
Saudi Arabia’s Minister of Culture Prince Badr bin Abdullah bin Farhan announced the Prince Mohammed bin Salman Award for Cultural Cooperation between the Kingdom and China during a visit to King Abdul Aziz Public Library at Peking University in Beijing on Thursday.
The announcement was made on the eve of the Saudi crown prince’s visit to China, the latest stop on an Asian tour.
The cultural cooperation award will honor leading academics, translators and high-achievers from the Kingdom and China in the categories: Best scientific research in Arabic, best artistic work, best Chinese-Arabic book translation and vice versa, person of the year, and most influential person of the year in the cultural milieu.
Prince Badr bin Abdullah bin Farhan said: “This partnership is in the name of Crown Prince Mohammed bin Salman and represents the common commitment to build cultural bridges between the two countries, developing cultural exchange, and promoting artistic and academic opportunities for our citizens.”
He said the yearly award will promote language, literature, and Arabic and creative arts in China, and encourage cultural exchange.
The Kingdom and China have a long history of cultural cooperation, including the annual Arabic Arts Festival.
The King Abdul Aziz Public Library at Peking University was inaugurated in 2017 during King Salman’s official visit to China, where he received an honorary doctorate degree.