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
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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.


Saudi Arabia’s Misk partners with UN on youth empowerment

Updated 26 September 2018
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Saudi Arabia’s Misk partners with UN on youth empowerment

  • The Saudi-UN partnership aims to reach and mobilize about 50 million young people around the world in support of the sustainable development goals
  • Saudi Arabia has a big youth demographic, with 60 per cent of the country’s population under the age of 25

NEW YORK: Misk Foundation, the not-for-profit philanthropic organization set up by the Crown Prince of Saudi Arabia, Mohammed bin Salman, has joined forces with the United Nations in a ground-breaking campaign to advance the cause of young people around the world.
The agreement was signed at a ceremony at the UN’s New York headquarters a day after UN secretary-general Antonio Guterres launched his own initiative to enlist young people in its strategy for global sustainable development.
The Saudi-UN partnership aims to reach and mobilize about 50 million young people around the world in support of the sustainable development goals (SDG), via a series of meetings and forums as part of the UN’s Strategy for Youth.
The UN’s SDG program is a set of targets for future development, ranging from the elimination of hunger and poverty, through education and gender equality, to action on climate change and energy. It coincides with Saudi Arabia’s own Vision 2030 strategy in many respects.
Misk is the first non-governmental organization to join the campaign. “Misk’s mission is to discover, develop and empower young people to become active participants in the knowledge economy both in Saudi Arabia and globally, through partnerships such as this,” said a joint statement from the Saudi organization and the UN.
“Under the initiatives, young people’s leadership, creativity and innovation skills will be harnessed to bolster their ability to be agents for positive change during the run-up to the fifth anniversary of the SDGs in 2020.
“Adding to the existing Young Leaders for the SDGs initiative, a ‘Youth Gateway’ central knowledge hub on SDGs is planned, including a platform to map existing initiatives and provide opportunities for engagement, aimed at motivating more young people to take action. Tools will be developed to measure and track global indicators on youth development and well-being,” the statement added.
Bader Alsaker, chairman of the board of the Misk Initiatives Centre, said: "The Misk Foundation is committed to helping as many young people around the world realize their potential in the future economy and to encourage active global citizenship. The strategic agreement that we are signing today shows our commitment to this mission.
“Partnering with the United Nations will greatly enhance its vital work around the world to help young people from all backgrounds to realize their potential and meet the SDGs,” he added.
Jayathma Wickramanayake, the UN secretary-general’s envoy on youth, added: “This major contribution towards the UN Secretariat’s work on youth will be used to operationalize the new UN Strategy on Youth with a focus on advancing our collective efforts to support youth mobilization for the 2030 Agenda worldwide.
“It comes at crucial time, immediately after the public launch of the UN’s Youth Strategy, which shows the commitment and dedication of the Misk Foundation to supporting youth development globally,” she added.
Saudi Arabia has a big youth demographic, with 60 per cent of the country’s population under the age of 25. Many of the policies of the Vision 2030 strategy to reduce oil dependency focus on the need for more and better employment for young people.
According to a recent global poll for the Bill & Melinda Gates Foundation, young people have a far more optimistic view of their own future, as well as that of their country, than older people. “Young people in these countries are more likely to believe they can affect the way their countries are governed and that their generation will have a more positive impact on the world than their parents' generation,” Gates found.
Sultan Al-Musallam, global ambassador of the Misk Foundation, told the UN: “The core belief held by youth, that our problems can only be solved together, in a way that is blind to race, religion or region, is also the bedrock of the UN.”