Workshop held over future of e-commerce in Riyadh

Ministry of Commerce held a two-day workshop in Riyadh to discuss challenges in e-commerce. (Stock photo/Getty Images)
Updated 06 December 2018
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Workshop held over future of e-commerce in Riyadh

  • Experts from the organization also addressed challenges within the field and proposals made by member states

RIYADH: The Ministry of Commerce and Investment (MCI) held a workshop in conjunction with the World Trade Organization (WTO) in Riyadh on Wednesday to discuss the future of e-commerce.
Participants at the two-day workshop included representatives from several governments, as well as a Saudi e-commerce technical team that included officials from the private sector.
According to the ministry, the program was designed to enhance capacity building at a national level.
“The aim of this workshop was to discuss the latest developments in the field,” said one media source, who added that the ministry wants to take full advantage of the technical assistance provided by international organizations like the WTO.
The WTO is currently intensifying efforts to bring e-commerce to the forefront so that it is adopted among all of its member states.
A host of submissions were put forward by members as part of an exploratory scope of work in support of future talks on the trade-related aspects of e-commerce.
Experts from the organization also addressed challenges within the field and proposals made by member states.
The preparatory process came in implementation of a joint statement signed by 71 members at 11th WTO ministerial conference, which was held last year in Argentina.
During the conference, members acknowledged the opportunities provided by e-commerce in fostering inclusive trade and development.
Saudi Arabia joined the WTO in 2005 and actively takes part in WTO meetings to strengthen national interest through these multi-lateral trade systems.


Saudi Arabia’s up-and-coming energy park set to transform KSA into a global industrial powerhouse

Situated in the Kingdom’s Eastern Province, between Dammam and Al-Ahsa, the project will be developed in three phases. (Supplied)
Updated 12 December 2018
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Saudi Arabia’s up-and-coming energy park set to transform KSA into a global industrial powerhouse

  • The first phase is scheduled for completion by 2021
  • SPARK will localize more than 300 new industrial services and facilities and will have specialized training centers to cater to the huge influx of manpower

JEDDAH: Saudi Arabia is fast catching up with the world’s ever-growing energy and technology scene ahead of 2030. In fact, the King Salman Energy Park (SPARK) may soon prove a global destination for energy industry investors.

The new energy city mega-project is being developed by Saudi Aramco, which received authoritization to embark on the initiative in the summer, and is operated, managed and maintained in partnership with the Saudi Authority for Industrial Cities and Technology Zones (MODON). 

With projections that the megacity will create more than 100,000 jobs, it is considered one of the most up-and-coming energy parks in the world.

SPARK will localize more than 300 new industrial services and facilities and will have specialized training centers to cater to the huge influx of manpower.

Situated in the Kingdom’s Eastern Province, between Dammam and Al-Ahsa, the project will be developed in three phases. 

The first phase is scheduled for completion by 2021, while the final phase of the project is set for completion in 2035. With all this on track, the 50-square-kilometer project is poised to be a magnet for foreign and domestic investment. 

Crown Prince Mohammed bin Salman inaugurated the King Salman Energy Park at the King Abdulaziz Center for World Culture (Ithra) on Monday. (SPA)

What’s more, Aramco’s espousal of SPARK will also help businesses indulge in technological development, manufacturing and exports channels and build a world-class energy supply chain. Crown Prince Mohammed bin Salman inaugurated the King Salman Energy Park at the King Abdulaziz Center for World Culture (Ithra) on Monday.

During the groundbreaking ceremony, Energy Minister and Aramco Chairman Khalid Al-Falih declared SPARK a special economic zone (SEZ) in which businesses can enjoy exclusive benefits. 

“We are looking forward to collaborating with our first anchor partners at SPARK,” said Saudi Aramco President and CEO, Amin Nasser.

SPARK has already attracted investment from foreign and local companies to produce and manufacture goods and services. The first phase of the project is expected to cost about $1.6 billion. 

The park is set to attract industrial investors in the water, power, petrochemical and wastewater sectors, among others. 

Facilities at SPARK will also help investors bridge gaps in local production back home, increasing competition in the long run. 

“This energy city is exciting because it brings together a multitude of businesses,” Mark McCollum, president and CEO of Weatherford Corp, told SPARK.

“We firmly believe that collaboration and cooperation among service companies and individual providers to the energy sector is vital in breaking new ground.”

The King Salman Energy Park is also set to promote small and medium-sized enterprises. With focus on energy production, it also provides opportunities for investment in residential and commercial real estate projects.

Nasser said that the “King Salman Energy Park will spur a new era of growth for one of the Kingdom’s already thriving sectors. What’s more, it will serve as a central gateway to the region’s economies since Aramco is at the heart of the global oil and gas industry.”