Car show opens, boosted by advent of Saudi women drivers

Car manufacturers will be the first to benefit in allowing women to drive, along with banks and insurance companies that finance and underwrite new car purchases. (Reuters)
Updated 05 February 2018

Car show opens, boosted by advent of Saudi women drivers

RIYADH: The decision to allow Saudi women to drive starting June this year has brought bright prospects to the local car industry as the biennial three-day Automechanika car show takes center stage on Monday.
Saudi Arabia is the largest auto and auto parts market in the Middle East, accounting for an estimated 40 percent of all vehicles sold in the region, statistics show. The Kingdom imported about 1 million vehicles in 2016.
Ahmed Pauwels, CEO of Messe Middle East, which is a co-organizer of the show, said the influx of Saudi women drivers will have a significant impact on auto parts, maintenance and services industry in the Kingdom.
“Car manufacturers will be the first to benefit in allowing women to drive, along with banks and insurance companies that finance and underwrite new car purchases,” Pauwels said.
At present, the Kingdom already has seven million passenger vehicles in operation and this will increase significantly in the coming years, with some nine million new drivers expected to be added to the roads.
He advised car manufacturers and suppliers in the Kingdom to stake their claim early in the market, which is full of opportunities.
He added that after the car manufacturers benefit, “the aftermarket comes next when these millions of additional cars will require regular repair maintenance, replacement parts, tires, batteries, accessories, car care and grooming.
“Revenues for the Kingdom’s aftermarket was worth more than $6.7 billion in 2016, so it’s already a significant market, and the largest in the Middle East,” he said.
The exhibition, with 200 companies from 25 countries as participants, is being held from Feb. 5 to 7 at the Riyadh International Exhibition Center with Mansour Abdullah Al-Shathri, Riyadh Chamber’s board vice chairman, as the guest of honor.

MiSK, Qiddiya team up for internship program 

Updated 25 March 2019

MiSK, Qiddiya team up for internship program 

  • Interns will work on entertainment mega-project
  • Program open to university seniors and new graduates

RIYADH: A new internship program for young Saudis has been launched in the Kingdom, following a partnership between Misk Foundation and the Qiddiya Investment Company (QIC).

The program runs from June 16 to Aug. 31, 2019, and provides an opportunity for university seniors and recent graduates to be part of Qiddiya, an entertainment mega-project located 40 minutes from Riyadh.

Interns will have the chance to work at Qiddiya’s corporate offices alongside professionals from around the world and will be placed across 12 departments.

They will learn and develop skills that are required to succeed in their professional lives.

They will also gain exposure to QIC’s culture and learn from executives with over 20 years of experience across several sectors. 

QIC CEO Mike Reininger said: “We are contributing directly to the Saudi Vision (2030 reform plan) by creating a richer lifestyle for Saudi citizens while spurring innovation in the creative, hospitality and entertainment sectors. This unique opportunity allows students and fresh graduates to experience what it takes to be part of the change in Saudi by giving them the chance to work alongside a group of both local and international seasoned professionals. Thanks to this partnership with MiSK, we will be training the next generation of industry leaders.” 

Application to the program is open for those with fewer than two years of professional experience. Candidates must show strong academic credentials and submit a short video as part of their application.

King Salman led the Qiddiya ground-breaking ceremony in front of a global audience last April.

The project is aimed at helping to stem the $30 billion a year which Saudis currently spend abroad on tourism, and has the backing of the Kingdom’s Public Investment Fund.

It targets local, regional and international tourists and will be Saudi Arabia’s preeminent entertainment, sports and cultural destination.

It is expected to be the world’s largest entertainment city by 2030, with a total area of 334 square kilometers, surpassing Walt Disney World in Florida, which is only 110 sq. km.