Spotlight on Qassim as Saudi business hub

Minister of Commerce and Investment Majid bin Abdullah Al-Qasabi. (SPA)
Updated 25 April 2018
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Spotlight on Qassim as Saudi business hub

  • Qassim has the potential to become one of the Saudi Arabia's leading economic hubs: commerce minister
  • Al-Qasabi urged stakeholders to identify the issues that needed to be addressed to ensure Qassim’s economic transformation

JEDDAH: Saudi Arabia’s central Qassim region had the potential to become one of the Kingdom’s leading economic hubs, Minister of Commerce and Investment Majid bin Abdullah Al-Qasabi told a meeting of business leaders in Buraidah on Monday.
The meeting at the King Fahd Cultural Center was organized by the Committee for the Development of Investment in Qassim and the region’s chambers of commerce in conjunction with the Biban Al-Qassim Forum.
Al-Qasabi urged stakeholders to identify the issues that needed to be addressed to ensure Qassim’s economic transformation, saying that small and medium-sized businesses held the key to growth in the region.
“Today’s reality is based on the culture of keeping up with the latest developments, accountability and evaluation,” he said. 
“The ministry has a clear vision and strategy, as well as a large number of investment-targeted programs and initiatives that aim to facilitate and improve the business environment and help the Kingdom become one of the world’s top 10 economies.”
Vision 2030 has opened new horizons for innovative projects that will create thousands of jobs.
The chairperson of the Chamber of Commerce and Industry in Qassim, Abdul Aziz Al-Hameed, said the private sector needed more reassurances to take chances and invest in large projects. The secretary-general of the Chamber of Commerce and Industry in Qassim, Saud bin Abdul Karim Al-Fadda, said the meeting aimed to encourage businessmen and entrepreneurs to develop their projects and achieve their ambitions to build a prosperous economy.
The secretary of the Committee for the Development of Investment in Qassim, Yusuf bin Abdullah Al-Arini, said the region was home to 313 factories with a capital of SR14 billion ($3.7 billion). The region’s competitive advantages included its location, motivational work environment, transport network, industrial and commercial cities and free services provided by the Chamber of Commerce and Industry.


Majlis culture brings a little Saudi warmth to freezing Davos

At a five-star hotel in Davos, the Saudi Arabia General Investment Authority has sponsored a prominent display proclaiming ‘The future-forward economy — Invest Saudi.’ (AN photo)
Updated 23 January 2019
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Majlis culture brings a little Saudi warmth to freezing Davos

  • The Misk Pavilion is one of the many signs of the Kingdom’s enthusiastic involvement in the world’s biggest gathering of political, business and thought leaders

DAVOS: From the sub-zero temperatures of the icy Davos Promenade you are ushered through a glass door into the warmth of a desert majlis, with works by young Saudi artists on the walls and traditional Arabian delicacies being served. It is quite a culture shock.

The Davos majlis is the work of the Misk Global Forum (MGF), the international arm of the organization founded by Crown Prince Mohammed bin Salman to promote youth empowerment. 

The Misk Pavilion is one of the many signs of the Kingdom’s enthusiastic involvement in the world’s biggest gathering of political, business and thought leaders.

“The Kingdom’s participation in WEF 2019 highlights its role in developing the regional and global economy, and reflects the nation’s continuing ambition for sustainable development,” said Bader Al-Asaker, head of the crown prince’s private office and chairman of the Misk Initiatives Center. 

The Saudi delegation’s HQ overlooks the main congress hall, inside the Davos security cordon. 

At a nearby five-star hotel, the Saudi Arabia General Investment Authority has sponsored a prominent display proclaiming: “The future-forward economy — Invest Saudi.” 

This is the second year Misk has been prominent at Davos. As well as the majlis, its pavilion offers visitors the chance to immerse themselves in modern Saudi art via a virtual reality tour of the work of four young artists.

Misk is organizing daily events there, building up to a power breakfast with leading executives on Friday on the theme of youth empowerment.

“In an age of profound economic disruption, we regard young people as the problem-solvers, not a problem to be solved,” said MGF executive manager Shaima Hamidaddin.

“We’re holding interactive discussions on how to empower young people to be the architects of the future economy, not the tenants of it.”