Saudi industrial firms gain as US facilities step up role

Updated 10 December 2017
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Saudi industrial firms gain as US facilities step up role

JEDDAH: The Saudi Arabian General Investment Authority (SAGIA) said that the number of American facilities in the Kingdom increased in December 2017 to 462, with a total capital exceeding SR56.7 billion ($15.1 billion), according to a report published by Al-Eqtisadiah newspaper on Dec. 7.
The report quoted a SAGIA statement of Dec. 6 made during a visit by a US delegation representing major American companies in Riyadh. The SAGIA statement noted that most of the American investments are in the industrial sector, where the investment reached a total of $11.8 billion, making about 78 percent of total American investments in the Kingdom.
Moreover, SAGIA added that Saudi Yanbu Petrochemical Company (YANPET) has the biggest share of American investments, and the total funds of this company reached $5.2 billion. The other company, which also received a big share of investments, is Saudi Aramco Mobil Refinery Company Ltd. (SAMREF), with total funds of $2.5 billion. Both YANPET and SAMREF operate in the petrochemical field.
SAGIA’s statement added that 14 licenses were issued in 2017, with a total fund of $101.7 million. Some of the main licenses offered include the global offshore contract driller RAWAN with a total fund of $50 million, and the health care company TADAWI with a total fund of $26 million. One of the most important cooperative projects with the US, which was licensed in 2017, is the Saudi-American Early Intervention center, which offers services to people with special needs.


Media spotlight falls on Saudi Arabia’s most historic sites

Updated 17 December 2018
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Media spotlight falls on Saudi Arabia’s most historic sites

  • Journalists were taken on a cultural and heritage tour of key locations aimed at showcasing the Najd region of the Kingdom as a top visitor destination
  • The Saudi Commission for Tourism and National Heritage (SCTH) organized the trip, concentrated around the old towns of Shaqra and Ushaiger

RIYADH: Some of Saudi Arabia’s most historic sites on Sunday went under the media spotlight as part of a drive to boost tourism.
Journalists were taken on a cultural and heritage tour of key locations aimed at showcasing the Najd region of the Kingdom as a top visitor destination.
The Saudi Commission for Tourism and National Heritage (SCTH) organized the trip, concentrated around the old towns of Shaqra and Ushaiger, to coincide with the Colors of Saudi Arabia forum that aims to strengthen national tourism.
Places visited by the group of journalists and writers included Al-Halawa Museum Market, Al-Subaie House, the Husseini Mosque, the House of Mashreq and the heritage village of Ishiqar. They also went to a desert camp, watched cultural shows and ate locally produced cuisine.
Abdulrahman Al-Manee, whose Al-Halawa Museum Market shop was visited by the group, told Arab News: “Collecting antiques and cultural pieces has been my hobby for more than 50 years.”
He graduated from the fine arts school at King Saud University, and has a website where he sells his products throughout the Kingdom and other Gulf Cooperation Council (GCC) countries.
The SCTH presented a workshop for media professionals during the tour. Majid Al-Hasna, director of media relations at the SCTH, said it is keen to organize more trips for journalists to the Kingdom’s archaeological, historical, heritage and tourism sites.