Princess Reema: Investment will take Saudi eSports to next level

Saudi Princess Reema bint Bandar Al-Saud speaks during the FII conference in Riyadh on Wednesday. (AFP)
Updated 25 October 2018
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Princess Reema: Investment will take Saudi eSports to next level

  • Given Saudi Arabia’s large youth population, itis believed that pumping more money into this sector could give a boost to both young people and the national economy
  • An eSports federation — known formally as the Saudi Arabian Federation for Electronic and Intellectual Sports — was launched last year

RIYADH: Greater investment in eSports would boost the Saudi economy and help young gamers better compete in the global — if virtual — arena, one of the Kingdom’s top sporting officials has said. 

Princess Reema bint Bandar, of the General Sport Authority, told the Future Investment Initiative that the Saudi gaming sector is “ripe for investment” — and that extra funds could help take it to the next level.

An eSports federation — known formally as the Saudi Arabian Federation for Electronic and Intellectual Sports — was launched last year.

Given Saudi Arabia’s large youth population, pumping more money into this sector — by, for instance, opening a gaming college or running gaming tournaments — could give a boost to both young people and the national economy, Princess Reema said.

“We truly believe that this is a sector that we can develop and grow, and is ripe for investment,” she said. 

Princess Reema pointed to South Korea as a country with a healthy eSport industry. 

“In South Korea, the gaming industry is probably around a $4 billion addition to the GDP … imagine if we were able
to do that here in Saudi Arabia?” she said.

“What does that look like? That looks like a gaming college or a university, that looks like gaming-training programs; investments in infrastructure and buildings that allow for these young people to not only participate in the game, but also educate others to be physically active.”

The official acknowledged that some people would need to be convinced that video gaming was actually a sport — adding that she encourages eSports to be recognized by the Olympics. 

But Princess Reema said that another factor was that young people could be encouraged to do more physical activity — because it can help them “up their gaming level” in the virtual field. 

In August, Saudi teenager Mosaad Aldossary picked up a $250,000 prize when he won the global FIFA eWorld Cup Grand Final.

More than 20 million gamers vied for a spot in the annual eWorld Cup, with just 32 making it to the finals. Competitors play the FIFA 18 football video game.


Mexican delegation visits Saudi Arabia to promote trade and discuss investment

The Mexican ambassador further declared that his country, like Saudi Arabia, is one of the top 20 economies in the world and is eager to strengthen mechanisms of collaboration in different areas. (SPA)
Updated 17 November 2018
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Mexican delegation visits Saudi Arabia to promote trade and discuss investment

  • The visiting team expressed their desire to benefit from and contribute to the projects presented by the Kingdom’s Vision 2030

RIYADH: A trade delegation from Mexico called on the Saudi business community to strengthen trade partnerships with their counterparts in Mexico and participate in promising opportunities and investment projects in various areas, especially in the construction and infrastructure sectors.
“A delegation from the National Bank for Services and Public Works (BANOBRAS), the most important development bank in Mexico, visited Saudi Arabia to promote investment opportunities that will bring the countries closer together,” Mexican Ambassador Alfredo Miranda told Arab News on Friday.
Miranda accompanied Alejandro Blasco, head of investor relations at BANOBRAS, and Luis Ampudia, deputy head of investor relations, during the meeting at the Council of Saudi Chambers (CSC).
The Saudi delegation was made up of CSC Secretary-General Saud Al-Meshari; Vice Chairman and Managing Director of the Saudi Fund for Development Khalid S. Alkhudairy; and head of stakeholder management of the Public Investment Fund (PIF) Saad A. Alkroud.
During the meetings, the Mexican delegation shared the opportunities available in Mexico for identifying possible public-private partnerships and financing social infrastructure projects, and they discussed the potential of investment opportunities in Mexico as part of the PIF’s international diversified pool, said the envoy.
The visiting team expressed their desire to benefit from and contribute to the projects presented by the Kingdom’s Vision 2030.
The Mexican ambassador further declared that his country, like Saudi Arabia, is one of the top 20 economies in the world and is eager to strengthen mechanisms of collaboration in different areas, taking into account that Mexico’s GDP is $1.1 trillion, has a population of 129 million inhabitants, an inflation rate of 4 percent and very low unemployment of just 4 percent.
“I am sure both countries will continue to work together in order to have more Mexicans in Saudi Arabia and more Saudis in Mexico,” said Ambassador Miranda.