Saudi Public Investment Fund signs agreement with Six Flags to create amusement park in Riyadh

Updated 05 April 2018
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Saudi Public Investment Fund signs agreement with Six Flags to create amusement park in Riyadh

JEDDAH: Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh.
Six Flags, the world’s leading international amusement park company, will develop and design the park in Qiddiya, the country's first entertainment, sports and cultural destination set to open in 2022.
The development is part of Saudi Arabia's vision to promote culture and entertainment and attract local and international investors to the sector.
Commenting on the agreement, the Public Investment Fund of the Kingdom of Saudi Arabia, said: “Qiddiya, a key project within the Kingdom’s entertainment sector, will play an important role in the development of the Kingdom of Saudi Arabia’s economy and the realization of the ambitions of Vision 2030. The first Six Flags-branded
amusement park in the Kingdom forms another part of the development of the sector which will help to create jobs and opportunities for Saudi young people,”
For his part, Chief Executive of Qiddiya, Michael Reininger said that “By partnering with a global leader in this sector, we know that we are going to deliver something exceptional that will enrich the daily lives of those living here. With nearly two thirds of the Saudi population under the age of 35, there is a huge appetite
in the Kingdom for amusement parks such as this one, as well as the other sporting and cultural facilities that Qiddiya will offer.”
On the agreement, David McKillips, President of Six Flags International Development Company has also commented saying that "Innovation is synonymous with our Six Flags brand, and our international licensing business provides a unique opportunity to continue our strong global growth. We see great potential in the Saudi Arabian market and look forward to collaborating with PIF to create a world-class entertainment destination for Saudi’s young and dynamic population.”


Finance officials meet to map out Saudi Arabia’s budget plans

Updated 19 April 2019
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Finance officials meet to map out Saudi Arabia’s budget plans

  • Finance representatives of 150 government bodies meet for the Budget Forum 2020

RIYADH: Saudi finance chiefs have kicked off a major conference in the capital aimed at mapping out the Kingdom’s budget requirements.
Around 300 specialists representing 150 government bodies met at the InterContinental hotel in Riyadh for the Budget Forum 2020.
Minister of Finance Mohammed Al-Jadaan welcomed delegates to the second edition of the gathering organized by the Saudi Finance Ministry under the slogan “Partnership and Empowerment.”
Al-Jadaan said the ministry was focused on “partnership and commitment,” and sought to share the challenge of developing an effective budget to achieve the Kingdom’s ambitious goals.
“We are also committed to empowering financial leaderships to learn about the ministry’s programs and projects and provide training and qualification opportunities to the best international standards,” he added.
The finance chief said the budget planning process required the collaboration of multiple authorities and a clear strategy based on transparency. 
Items up for discussion at the forum included financial planning in governmental bodies, automation, and the promotion of revenues and efficient spending.
Finance Ministry steering committee chairman, Abdul Aziz bin Saleh Al-Freih, stressed the importance of the forum in getting the ball rolling at an early stage on formulating a general state budget.
Workshops were held on the sidelines of the conference focused on empowering government organizations, and a training program on financial planning and income estimations was also staged.