How the Crown Prince’s visit to South Korea is advancing Vision 2030

How the Crown Prince’s visit to South Korea is advancing Vision 2030
Saudi Crown Prince Mohammed bin Salman and South Korean President Moon Jae-in view an honor guard during a welcoming ceremony at the presidential Blue House in Seoul on Wednesday. (AP)
Updated 28 June 2019

How the Crown Prince’s visit to South Korea is advancing Vision 2030

How the Crown Prince’s visit to South Korea is advancing Vision 2030
  • Mohammed bin Salman and South Korean President Moon Jae-in agree to a Vision Realization Office in Riyadh and Seoul
  • Business deals that redefine their traditional oil partnership include eco-friendly automobile technology and hydrogen energy

SEOUL: Crown Prince Mohammed bin Salman’s history-making visit to South Korea has taken Saudi Arabia a step closer to achieving its Vision 2030 economic transformation following the establishment of a joint “Vision Realization Office” that will expand business cooperation between the two countries beyond their traditional oil partnership.

The crown prince met with South Korean President Moon Jae-in at the presidential Blue House after being welcomed by Prime Minister Lee Nak-yeon at a VIP airfield in Seongnam, south of Seoul, earlier on Wednesday. It is the first visit to South Korea by an heir to the throne of the world’s largest oil exporter in more than two decades.

The crown prince, who also serves as deputy prime minister and minister of defense, stressed that he would invest more in South Korea, focusing on expanding bilateral collaboration in the fields of energy, automotive, tourism and health.

“South Korea has made tremendous success in Saudi Arabia. I hope South Korea will do the same to further improve the bilateral relationship,” the crown prince was quoted by a Blue House spokesman as saying.

“People of both countries will thrive through cooperation in the sectors of defense and economy.”

Moon pledged to provide full support for Saudi Arabia’s efforts to diversify its economic portfolio, breaking away from its dependence on the energy segment.

The two leaders discussed ways of boosting their relationship, with a focus on the new industrial sectors of information and communications technology, hydrogen energy, robots, health, medical service and culture.

Both sides “reaffirmed their strategic partnership regarding Saudi Vision 2030,” a joint press release said. “In this regard, the two leaders agreed to set up the ‘Vision Realization Office’ in both Riyadh and Seoul, respectively, as part of efforts to expedite bilateral efforts for the successful Vision 2030 partnership.”

At a luncheon hosted by Moon, South Korea’s business tycoons greeted the crown prince and other Saudi delegates.

Among the business leaders were Lee Jae-yong, vice chairman of Samsung Electronics; Chung Eui-sun, vice chairman of Hyundai Motor Group; Chey Tae-won, chairman of SK Group; LG chairman Koo Kwang-mo; and Chung Ki-sun, senior executive vice president of Hyundai Heavy Industries.

“I hope companies from both nations can set up a strategic and cooperative relationship through vibrant business activity,” the crown prince said.

Later in the day, he was invited to Samsung’s VIP guesthouse in Itaewon, Seoul, for more discussions on business partnerships with young South Korean representatives, a Samsung spokesman told Arab News.

IN NUMBERS

• $8.3bn - Estimated worth of economic deals signed on Wednesday

• 16 - Number of MoUs between the two governments, including agreements related to eco-friendly automobile technology and hydrogen energy

• 15 - Number of MoUs signed by the Saudi business delegation

• $6bn - Value of the deal signed by Saudi Aramco and S-Oil, South Korea’s third-biggest oil refiner, to build refinery and downstream facilities in South Korea

• $1.8bn - Cost of developing a propane dehydrogenation and polypropylene complex in Jubail, a joint project between SK Gas and Saudi’s Advanced Petrochemical (APC)

According to the Blue House spokesman, Seoul and Riyadh signed a total of 16 memorandums of understanding (MoUs), including agreements related to eco-friendly automobile technology and hydrogen energy.

“Based on the latest MoUs with Saudi Arabia, South Korean companies will lay the groundwork for advancing into the Middle East region in the fields of green cars, hydrogen energy supply, hydrogen fuel cell and others,” Minister of Trade, Industry and Energy, Sung Yun-mo, told reporters.

On top of the government agreements, eight MoUs between companies have been signed. The value of the agreements is estimated at $8.3 billion, the minister added.

Among the lucrative business deals are Saudi Aramco’s petrochemical project with S-Oil,  South Korea’s third-biggest oil refiner. Under the $6 billion deal the refinery will build a facility to produce ethylene and other basic chemicals out of naphtha and refinery off-gas, as well as olefin downstream facilities in Ulsan, about 400 km southeast of Seoul, by 2024.

Another high-profile agreement is on hydrogen cars. “The collaboration of Hyundai and Saudi Aramco will cover not only existing projects but also future-oriented business plans,” Chung Eui-sun, Hyundai’s vice chairman, said in a statement.

“This MoU will be an opportunity to help further solidify our strategic cooperative partnership,” he added.

Under the partnership, the two companies will cooperate in establishing hydrogen-charging infrastructure in South Korea and supply hydrogen fuel-cell electric cars in Saudi Arabia.

Other MoUs include Aramco’s joint investment with Hyundai Heavy Industries to build a ship engine plant in the King Salman Global Maritime Industries Complex, and a joint project between SK Gas and Saudi’s Advanced Petrochemical (APC) to develop a $1.8 billion propane dehydrogenation and polypropylene complex in Jubail.

On a political note, Moon and the crown prince condemned terror activities harming energy security and regional stability in the Middle East, including this week’s deadly attack by Yemen’s Houthi rebels on Abha’s civilian airport in southern Saudi Arabia.

The crown prince promised to help with South Korea’s possible fuel shortages in case of supply disruption caused by tensions in the Middle East, while both leaders called for international efforts to secure energy safety at the Strait of Hormuz, where two Japanese oil tankers were struck by unidentified attacks.

South Korea imported 101.5 million barrels of crude oil from Saudi Arabia, Seoul’s biggest oil supplier, in the first four months of this year, down 2.7 percent from a year ago, according to data from state-run Korea National Oil Corp.


What Saudi citizens need to know to travel safely

What Saudi citizens need to know to travel safely
Travelers will not be allowed into airports or planes without showing their health statuses through the government-approved health app, Tawakkalna. (Supplied)
Updated 10 May 2021

What Saudi citizens need to know to travel safely

What Saudi citizens need to know to travel safely
  • COVID-19 insurance mandatory for those under the age of 18 wishing to travel

JEDDAH: With one week to go before international travel resumes, Saudis are being encouraged to cover all the necessary basics before leaving the country.

During a joint press conference on Sunday, the General Authority of Civil Aviation (GACA) and the Council of Cooperative Health Insurance (CCHI) shared new instructions and updated travel insurance policies for all Saudis wishing to travel abroad following a previous announcement stating the four categories allowed.
Ibrahim Alrwosa, GACA official spokesman, outlined the new travel procedures for citizens, health protocols followed at airports, and the shipment, transport and reception of vaccines at the Kingdom’s airports.
“After a week, our airports will witness the resuming of flights for citizens starting 1 a.m. We call on everyone to thoroughly follow the set health precautions to achieve a completely safe trip,” said Alrwosa, adding that the authority will update its safety instructions to add COVID-19 health measures in a new leaflet.
Travelers will not be allowed into airports or planes without showing their health statuses through the government-approved health app, Tawakkalna. Travelers who have received two vaccine doses, those who have completed two weeks since receiving the first jab, those who are immune by recovery no more than six months since infection and children under the age of 18 who have travel insurance obtained in cooperation with the Saudi Central Bank will be the only groups allowed to cross international borders.
Alrwosa stressed that travelers follow their country of destination’s health precautions to avoid any problems.

HIGHLIGHT

Travelers will not be allowed into airports or planes without showing their health statuses through the government-approved health app, Tawakkalna. Travelers who have received two vaccine doses, those who have completed two weeks since receiving the first jab, those who are immune by recovery no more than six months since infection and children under the age of 18 who have travel insurance obtained in cooperation with the Saudi Central Bank will be the only groups allowed to cross international borders. 

Meanwhile, CCHI spokesman, Othman Al-Qasabi, revealed that the new insurance policy will include benefits that cover the risks of COVID-19 infection, and that it is mandatory for those under the age of 18 wishing to travel.
“This is in cooperation with the Saudi Central Bank. Persons vaccinated with two doses, first dose, and immune by recovery with the required timeline, will have the travel insurance available for them, but it has been made mandatory for those under the age of 18 to reduce the risks accompanied by the virus.”
The travel insurance, which is only valid for 30 days, will cover emergency medical expenses related to COVID-19 such as emergency rooms, urgent care and transportation. It also covers quarantine-related accommodation costs, medical evacuation and issues related to canceling flights due to COVID-19 conditions.
“These new benefits have been added to the already existing travel insurance benefits.”
The council revealed that a consortium of 12 companies has been approved for people to receive travel insurance from, with Tawuniya Insurance Company chosen to lead the alliance.


King Salman appoints Abanmi as governor of Zakat, Tax, and Customs Authority

King Salman appoints Abanmi as governor of Zakat, Tax, and Customs Authority
Updated 10 May 2021

King Salman appoints Abanmi as governor of Zakat, Tax, and Customs Authority

King Salman appoints Abanmi as governor of Zakat, Tax, and Customs Authority

RIYADH: King Salman has issued a royal order appointing Suhail bin Mohammed bin Abdulaziz Abanmi as governor of the Zakat, Tax, and Customs Authority, with the rank of minister, the Saudi Press Agency (SPA) announced on Saturday.

The new body is a merger of the former General Authority of Zakat and Tax (GAZT), which Abanmi headed since 2017, and the Saudi Customs, of which he was named acting governor since March.

Abanmi has worked as an executive in various private companies and government agencies, including as head of business development and manager of the Tadawulaty program, general supervisor of the Ministry of Commerce’s agency for internal trade, and member of the advisory committee for the Capital Market Authority.


Saudi crown prince allocates 20 million square meters for housing units north of Riyadh

Saudi crown prince allocates 20 million square meters for housing units north of Riyadh
Updated 10 May 2021

Saudi crown prince allocates 20 million square meters for housing units north of Riyadh

Saudi crown prince allocates 20 million square meters for housing units north of Riyadh
  • The additional lands will provide more than 53,000 various housing units
  • Riyadh aims to become one of the 10 largest economic cities in the world

RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman has directed the allocation of 20 million square meters for new residential land north of Riyadh.
The ownership will be transferred to the Ministry of Municipal, Rural Affairs and Housing, and is part of a drive to improve the housing sector and hep families, Saudi Press Agency reported.
The allocation aims to increase the residential area of ​​Al-Jawan suburb from 10 million square meters to 30 million square meters, and build up to 53,000 housing units through integrated projects, facilities and services in partnership with the private sector. This is on top of the 20,000 housing units that have already been announced.
Support for the housing sector has led to Saudi home ownership increasing from 47 percent to 60 percent in the last four years.
The Kingdom hope that figure will reach 70 percent under the Vision 2030 reform programs.
“The additional lands allocated to the housing sector north of Riyadh will provide more than 53,000 various housing units that real estate developers will work on, taking into account the quality of services that meet the aspirations of citizens,” the statement said.
The move is also in line with the city’s growth with the aim of becoming one of the 10 largest economic cities in the world and an increase in population from 15 to 20 million by 2030.
Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail said the housing sector contributes more than SR115 billion ($30.6 million) to GDP and provides about 40,000 direct and indirect jobs.
Riyadh’s housing sector has witnessed rapid growth over the past two years.


UAE condemns Houthi drone targeting Saudi Arabia’s Khamis Mushait    

UAE condemns Houthi drone targeting Saudi Arabia’s Khamis Mushait    
Updated 10 May 2021

UAE condemns Houthi drone targeting Saudi Arabia’s Khamis Mushait    

UAE condemns Houthi drone targeting Saudi Arabia’s Khamis Mushait    

RIYADH: The UAE repeated its “strong condemnation and denunciation” of the Iran-backed Houthi militia launching drone attacks at innocent civilians in Saudi Arabia.

The comments come after the latest attempted attack on the Kingdom’s southern regions. The Arab coalition said on Sunday that an explosives-laden drones was intercepted after it was launched towards Khamis Mushait. 

The UAE Ministry of Foreign Affairs and International Cooperation said the latest drone attack showed Houthi's “blatant defiance of the safety of the international community and its disregard for all international laws.”

The UAE said it stands against any threat to Saudi Arabia’s security and stability.


Weather warnings issued across Saudi Arabia until Friday

Weather warnings issued across Saudi Arabia until Friday
Updated 10 May 2021

Weather warnings issued across Saudi Arabia until Friday

Weather warnings issued across Saudi Arabia until Friday
  • Civil defense warns of thunderstorms and risk of flooding in some areas

RIYADH: Weather warnings have been issued for several regions across Saudi Arabia from Monday until Friday, the Kingdom’s civil defense said on Sunday.
The authority warned of thunderstorms with moderate to heavy rain and brisk winds that may lead to torrential flows in Asir, Al-Baha, Jazan, Najran, and Makkah.
The regions of Madinah, Qassim, Hail, the Northern Borders Province, Al-Jawf, and Tabuk will be affected by moderate rain, while the Eastern Province will be affected by light to moderate rain.
The warnings were based on data from the National Center of Meteorology.
Lt. Col. Mohammed Al-Hammadi, civil defense spokesman, called on everyone to be wary of the potential dangers of severe weather conditions, to stay away from places that could flood, and to abide by the civil defense’s instructions and updates announced through media and social media outlets.