Formula E is another step toward Saudi Vision 2030 — Russian Direct Investment Fund

Antonio Felix da Costa won the opening ABB FIA Formula E Championship race of the season in Saudi Arabia. (AN Photo/Basheer Saleh)
Updated 19 December 2018
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Formula E is another step toward Saudi Vision 2030 — Russian Direct Investment Fund

JEDDAH: The Formula E Championship race in the ancient cradle of Saudi Arabia, Ad Diriyah, is another unique example of the historic steps the country’s leadership is taking to implement its Vision 2030 and follow a path to moderate Islam, said CEO of Russian Direct Investment Fund.
Speaking on Saturday following the race, Kirill Dmitriev added that “the event not only promotes electric cars and cutting-edge technologies in the country, but also showcases the first ever mass pop music concerts in the Kingdom,” with performers including Enrique Iglesias, The Black Eyed Peas and David Guetta.
Thousands of fans flocked to Riyadh’s historic Ad Diriyah district for Formula E, a motor sports tournament using electric vehicles, and for the concerts, entertainment and cultural activities as well.
Whizzing electric race cars wound through the ruins of Ad Diriyah, a UNESCO world heritage site that is undergoing a multi-million dollar renovation, celebrating a telling of national history.

CEO of Russian Direct Investment Fund, Kirill Dmitriev. (Photo/Supplied)

“Such events will help attract tourists to the previously closed country and are a true celebration for aspiring young Saudis who desire a bright future,” he went on to say.
Dmitriev also said that “the vision of moderate Islam, promoted by Crown Prince Mohammed bin Salman, is important both for the region and the entire world, and its realization needs to be appreciated, respected and supported.”
A first for Saudi Arabia and the region, the event’s magnitude reflects the Kingdom’s goal of hosting major events and promoting them domestically and globally.
It also marks the first event in the Kingdom accessible to international tourists, made possible by a new online e-visa system, Sharek, demonstrating to the world Saudi Arabia’s future vision for tourism, which is expected to be on a much larger scale.


Saudi Arabia, UAE to attend US-led Palestine investment meeting

Updated 23 May 2019
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Saudi Arabia, UAE to attend US-led Palestine investment meeting

  • The Palestine Liberation Organization and Islamist group Hamas have called for an Arab boycott of the meeting
  • Saudi Arabia has assured Arab allies that it will not endorse any US plan that fails to meet key Palestinian demands

JEDDAH: Saudi Arabia and the UAE will participate in a conference next month in Bahrain aimed at encouraging investment in the West Bank and Gaza Strip, as part of US President Donald Trump’s long–awaited Israel–Palestine peace plan. 

The Peace to Prosperity conference, to be hosted on June 25–26 in cooperation with the US, has already been rebuffed by Palestinian officials and business leaders, who want their political demands met by any proposed solution to the conflict.

The Palestine Liberation Organization and Islamist group Hamas have called for an Arab boycott of the meeting.

The Saudi minister of economy and planning, Mohammed bin Majid Al–Tuwaijri, will attend, the Saudi Press Agency reported on Wednesday.

The UAE Ministry of Foreign Affairs and International Cooperation said Abu Dhabi would also send a delegation.

The Palestinian Authority has boycotted American peace efforts since late 2017, when Trump decided to move the US Embassy from Tel Aviv to Jerusalem and recognized the latter as the capital of Israel, reversing decades of US policy.

The Trump administration has sought to enlist support from Arab governments.

But Saudi Arabia has assured Arab allies that it will not endorse any US plan that fails to meet key Palestinian demands, which include affirming East Jerusalem as the capital of a Palestinian state, the right of return for refugees, and a freeze on Israeli settlement construction.