SAGIA issues licenses to 4 Swiss companies

SAGIA Gov. Ibrahim Al-Omar, center, and Fady M. Jameel, deputy president, and vice chairman, Abdul Latif Jameel Co., left, during the event in Bern.
Updated 01 October 2018
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SAGIA issues licenses to 4 Swiss companies

The Saudi Arabian General Investment Authority (SAGIA) has awarded investment licenses to four Swiss companies, which will enable the launch of their operations in the Kingdom.

SICPA-Jameel, Roche Diagnostics Saudi Arabia, MEDLOG and ABB Substations Contracting Co. received their licenses on the sidelines of the 11th session of the Saudi-Swiss Joint Commission, held recently in the Swiss capital Bern.

Welcoming the awarding of the licenses, SAGIA Gov. Ibrahim Al-Omar, said: “These excellent developments in Switzerland underline the importance of building strong economic partnerships. We want to use these partnerships to help illuminate and enable investment opportunities for companies and investors across a number of promising sectors, while also helping to realize the Kingdom’s Vision 2030, economic diversification and a new era for Saudi Arabia.”

In addition to continuously engaging and building strong relationships with leading companies and relevant stakeholders across the world, SAGIA, along with its partners, is focused on enhancing the competitiveness and attractiveness of the investment environment for foreign investors in the country.

Fady M. Jameel, deputy president, and vice chairman, Abdul Latif Jameel Co., said: “Our company is proud to be the investment partner of choice for this venture with SICPA Finance and bring this cutting edge ‘track and trace solutions’ technology to businesses and consumers in Saudi Arabia.”

SAGIA has led the way in creating significant legal, regulatory, commercial and financial reforms to protect investors and generate confidence in Saudi Arabia as an investment destination. Foreign investors enjoy an increased number of sectors open to foreign investment, including 100 percent ownership, streamlined procedures and reduced costs, access to resources and financing, and significant opportunities.

Al-Omar highlighted the enormous potential that the Saudi economy presents to foreign investors and the vast new horizons that Vision 2030 is providing to the private sector.

He said: “SAGIA is committed to driving more quality investments by being a beacon and a partner for companies all along the investment decision-making journey, and by ensuring greater ease in establishing and running business operations.”

He also noted that the investment licenses granted in Bern brought the number of Swiss projects invested in the Kingdom to 94. 

“We very much welcome the strong and valuable Swiss presence in Saudi Arabia and we look forward to celebrating 100 Swiss investments soon,” he said.

SICPA-Jameel will provide ‘track and trace solutions’ in the services sector, securing production, import, and exporting trade of sensitive goods.


Marriott hotel, apartments open in Riyadh’s DQ

Updated 21 March 2019
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Marriott hotel, apartments open in Riyadh’s DQ

Marriott International and Dur Hospitality this week celebrated the opening of the Riyadh Marriott Hotel Diplomatic Quarter and Marriott Executive Apartments Riyadh, Diplomatic Quarter. The complex is strategically located in the heart of one of the most sought-after areas in the city with easy access to key embassies and major corporate headquarters, and a 30-minute drive from King Khalid International Airport. 

“We are delighted to enhance our footprint in Saudi Arabia with the opening of two strategically important hotels that not only complement each other but also deliver very distinct brand experiences. Saudi Arabia continues to be one of our key markets and we are delighted to further strengthen our partnership with Dur Hospitality,” said Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International.

The hotel is inspired by Wadi Hanifa, a beautiful desert oasis running through Riyadh. The low-rise hotel resembles the smooth, dry canyon walls that make for a dramatic arrival experience. Once you step inside, the waterways guide the way into the building, ushering guests through the arrival court into the palm-dotted oasis in the hotel’s courtyard. Planted cacti, flowering vines, plentiful blooming desert flora and native date palm trees create a calming ambiance, providing shade from the desert sun. 

The complex is the first five-star full service hotel in the Diplomatic Quarter and features 80 spacious modern rooms, and 140 fully equipped apartments. The deluxe rooms feature modern décor and ample work space, allowing guests to stay connected with in-room technology, including high-speed WiFi and bedside USB outlets. Guests staying in one of the six Premium Suites or the Presidential Suite can enrich their experience in the M Club Lounge offering an international buffet, hors d’oeuvre and local specialties 24 hours a day. 

The Riyadh Marriott Hotel Diplomatic Quarter houses three dining venues, Goji Kitchen — an all-day dining destination, a la carte restaurant Mesquite and Agave Café located in the lobby. The hotel offers multiple recreational areas surrounded by lush greenery. 

Muin Serhan, general manager of Marriott Hotels in Riyadh, said: “The opening of Marriott Riyadh and Marriott Executive Apartments Riyadh Diplomatic Quarter is considered an important milestone in our developing journey in the hospitality field; we are keen to provide a very special experience to our valuable guests whatever they are traveling for — business or leisure.”

He added: “And we are very proud to be part of the new Marriott travel program ‘Marriott Bonvoy,’ built on the belief that travel enriches its members and the world around them. Launching in February 2019, Marriott Bonvoy replaces Marriott Rewards, The Ritz-Carlton Rewards and Starwood Preferred Guest (SPG).”