Saudi Arabia, India renew pledge to boost economic ties

King Salman received Indian Finance Minister Arun Jaitley at Al-Yamamah Palace in Riyadh on Sunday. (SPA)
Updated 18 February 2018

Saudi Arabia, India renew pledge to boost economic ties

RIYADH: Saudi Arabia and India have renewed pledges to boost bilateral economic, investment and trade cooperation following talks between King Salman and Indian Finance Minister Arun Jaitley at Al-Yamamah Palace on Sunday.
“King Salman and the Indian minister discussed bilateral relations and ways of developing and enhancing them in various fields,” said an SPA report.
Jaitley also attended a meeting with a large number of top-notch Saudi businessmen at the Council of Saudi Chamber (CSC), where he was received by Ahmed Sulaiman Al-Rajhi, CSC chairman.
“The progressively growing cooperation between the Kingdom and India in the fields of trade and commerce; and how to strengthen trade ties; figured prominently in the meeting,” said a CSC statement. Saudi Arabia is India’s fourth-largest trading partner besides being a major energy supplier to India. The volume of two-way trade between the two countries exceeded $25 billion in 2016-17.
Dr. Saud M. Al-Sati, the Saudi ambassador to India, told Arab News: “The Saudi-India Joint Ministerial Commission’s (JMC) meeting will be held here on Monday.” The JMC, in which many top Saudi and Indian officials will participate, will chalk out a plan to cooperate with each other for economic development, he added. This 12th JMC will be co-chaired by Dr. Majed Al-Qasabi from the Saudi side and Jaitley for India.
The meeting will focus on enhancing bilateral cooperation, knowledge exchange and economic ties between the two countries.
Saudi Arabia and India enjoy cordial and friendly relations and have forged closer strategic ties. The visit of King Salman to India, as crown prince in 2014, further deepened the relations between the two countries. Moreover, the recent visit of Indian Prime Minister Narendra Modi in April 2016 is seen as a turning point in the growing engagement between the Kingdom and India.

MiSK, Qiddiya team up for internship program 

Updated 18 min 48 sec ago

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.