Saudi support boosts hospitality industry growth

A general view of Riyadh Marriott Hotel.
Updated 02 January 2018
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Saudi support boosts hospitality industry growth

The Saudi government’s increased investment in infrastructure development and its support to the entertainment and sports sectors will spur growth for the hospitality and tourism industry in the Kingdom, said Muin Serhan, general manager of Riyadh Marriott Hotel, on Tuesday.
Serhan said the Finance Ministry has approved a loan of SR851 million for 12 health, education and hospitality projects.
“The hospitality sector is a significant beneficiary of the Saudi government’s measures aimed at bolstering business networks through its focus on sports and entertainment,” he said, referring to the recently announced budgetary allocations.
He said: “The move will also boost inbound and domestic tourism substantially, driving significant growth opportunities for the hospitality industry.”
He said: “The Riyadh Marriott Hotel welcomes guests with 5-star sophistication at a prime location in the city's business hub. Here you will feel as if you have come to a truly special place. Here we have 418 elegant rooms and suites, which are sumptuously furnished with all amenities, including high-speed Internet access, marble bathrooms and deluxe featherbed mattresses.”
He said The Marriott Hotel will be opened by mid-2018 in the Diplomatic Quarters in the Saudi capital.
Referring to the consistent growth of business within the framework of the Saudi Vision 2030, Serhan said Saudi Arabia is also set to launch an SR10 billion ($2.67 billion) entertainment company as it aims to create 22,000 jobs in the underserved sector.
The Public Investment Fund (PIF) said it is in the process of forming a company that will channel investments into developing the industry and enhancing the Kingdom’s appeal as a tourism destination.
The Islamic Sports Federation (ISF) has also announced the provision of financial support in addition to the allocation of a special building in this regard.
The federation’s plans to host sports activities will further boost business for hospitality sector. The Kingdom has gone the extra mile in supporting the sports and entertainment sectors.
“The chess championship added an exciting new dimension to sports in Saudi Arabia,” Serhan added.


IsDB, LinkedIn team up for career advice program

Dr. Hayat Sindi, chief scientific adviser to the president of the Islamic Development Bank.
Updated 22 October 2018
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IsDB, LinkedIn team up for career advice program

LinkedIn, the world’s largest professional network, and the Islamic Development Bank (IsDB), the multilateral development bank headquartered in Saudi Arabia, recently signed a memorandum of understanding (MoU) to collaborate over a career advice program aimed at encouraging and inspiring the next generation of future leaders across the developing world. 

With an initial one-year term, the MoU will further augment IsDB’s efforts in achieving its foundational mission to promote human development by alleviating poverty, promoting education and improving the health and prosperity of underdeveloped communities through Engage, the bank’s innovation platform closely aligned with the UN sustainable development goals (SDGs). Under the agreement, LinkedIn will offer mentorship and training, along with access to on-demand learning content, to the 30 identified winners of the Career Advice Program. 

Dr. Hayat Sindi, chief scientific adviser to the president of the Islamic Development Bank, said: “IsDB’s Career Advice Program aims to identify, mentor and encourage the future leaders of the developing world to accelerate the pace of growth within their communities. We believe LinkedIn is the ideal partner to add further value and enhance the impact of the initiative.”

Reem Mohammed, head of public sector, Saudi Arabia, LinkedIn MENA, said: “We are excited and proud to sign this agreement with IsDB, and play a role in shaping the futures of the brightest minds of tomorrow. Because of this MoU, deserving youth from the developing world — who are often likely to be overlooked — will have the opportunity to access matchless knowledge and expertise, and connect with the world’s largest pool of professionals through our network. Following the completion of the one-year term, we will be more than happy to continue our collaboration with the program and deepen our commitment to the Kingdom and its vision.”