Saudi Arabian car companies see boost in demand for female drivers

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Car dealerships, agencies and companies in Saudi Arabia have witnessed a remarkable turnout after the decree allowing women to drive was implemented on June 24. (SPA)
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Car dealerships, agencies and companies in Saudi Arabia have witnessed a remarkable turnout after the decree allowing women to drive was implemented on June 24. (SPA)
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Car dealerships, agencies and companies in Saudi Arabia have witnessed a remarkable turnout after the decree allowing women to drive was implemented on June 24. (SPA)
Updated 29 June 2018
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Saudi Arabian car companies see boost in demand for female drivers

JEDDAH: Car dealerships, agencies and companies in Saudi Arabia have witnessed a remarkable turnout after the decree allowing women to drive was implemented on June 24, Saudi Press Agency reported.
As a result, some agencies have established an advisory board, and conducted research surveys to take advantage of this vital and strategic decision by collecting information and build plans to deal with this qualitative shift in the Saudi society.
The move has seen economic recovery in many related sectors such as insurance, maintenance and car accessories.
Some agencies have also opened female showrooms and recruited and trained qualified Saudi women to understand the specifications and advantages of vehicles, safety and car prices to facilitate the delivery of information to those wishing to buy cars.
Some car companies have also given women the opportunity to experience driving for the first time and learn from their relatives, with the help of trainers, to refine their leadership skills and build trust through a special training course.
Surveys and studies have been conducted throughout the Kingdom that indicate to some of the factors that govern the purchase of cars by females, including age group, social status and purchasing power.
The majority of women were careful when choosing the type of car and safety is the main priority, the SPA reported. Saudi women are seeking vehicles equipped with the highest security methods, such as seat belts, airbags and blind spots, for protection in the event of an accident.
The height of the car was also a relevant factor, along with the vehicle’s fuel efficiency, speeding and breaking.
Regular check ups, maintenance and repairs are also an important factor in safety, to protect against traffic accidents, particularly checking tire pressure to avoid the possibility of an explosion.
Furthermore, when purchasing a vehicle, car companies are also offering women after-sales services, such as road assistance, securing spare parts and servicing vehicles, in addition to setting up opinion polls and listening to their views on all matters related to women’s driving.


‘Saudi Arabia moving fast toward achieving its Vision 2030 goals’

Dr. Ayedh bin Hadi Al-Otaibi, deputy governor of investment climate.
Updated 11 min 59 sec ago
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‘Saudi Arabia moving fast toward achieving its Vision 2030 goals’

  • The SAGIA adopts strategies that are in accordance with Vision 2030 to support an investor’s journey within the Kingdom

RIYADH: The Saudi economy is standing strong and it is supported by a competitive environment, said a senior official of the Saudi Arabian General Investment Authority (SAGIA).
Dr. Ayedh bin Hadi Al-Otaibi, deputy governor of investment climate, was speaking at the Sixth Saudi Trade Finance Summit, which began on Wednesday in Riyadh.
Al-Otaibi delivered a speech on “Unlocking the potential of the Arab world’s largest economy” in which he reviewed the objectives and role of SAGIA with a particular reference to Vision 2030.
The SAGIA official also highlighted the recently introduced reforms in the investment environment to support the business sector in the Kingdom.
Al-Otaibi said Saudi Arabia is moving rapidly toward achieving its goals as envisaged in Vision 2030. The goals, he added, include an increase in foreign direct investment in the Kingdom, diversification of sources of income and leveraging its unique attributes as the heart of the Islamic world and the link between three continents.
The official said the Kingdom is taking all steps to make small and medium enterprises (SMEs) the main engine for economic development in the Kingdom.
Due to the recent measures and reforms the SMEs in the Kingdom are witnessing a spurt in growth and job creation, he added.
SMEs are considered a key partner in the development of Saudi Arabia.
One of the important actions in supporting these companies is the establishment of the General Authority for SMEs (Monshaat), which aims to increase the contribution of such businesses in the economy. Monshaat aspires to contribute to innovation, facilitate funding and create jobs for Saudi males and females.
The government has put in place stimulus packages of up to SR200 billion ($53 billion) until 2020 under the Fiscal Balance Program, one of the central initiatives for realizing the Kingdom’s Vision 2030 reforms.
The PIF, the Kingdom’s sovereign wealth fund, has also supported the sector by setting up a SR4 billion fund ($1 billion) that will give SMEs access to capital. The “fund of funds,” as it is known, will invest in venture capital and private equity funds targeting the SME sector.
A privatization program also encourages the private sector to own or manage state-owned assets and to take over public services currently provided directly by the government.
SMEs are important to all economies around the world and will specifically play a major role in the non-oil-reliant Saudi economy. SMEs contribute to the economy by generating employment opportunities for the Saudi people and fostering economic empowerment for the youth and women. This will help in achieving the Vision 2030 goals of decreasing unemployment from 11.6 percent to 7 percent and increasing female participation in the workforce from 22 percent to 30 percent.
The SAGIA adopts strategies that are in accordance with Vision 2030 to support an investor’s journey within the Kingdom.
It also promotes a business environment based on customer service by measuring the satisfaction of investors with the services offered to them.