Saudi investment minister stresses importance of public-private partnership for sustainable growth

Saudi investment minister stresses importance of public-private partnership for sustainable growth
Saudi Investment Minister Khalid Al-Falih said governments must build real partnerships with the private sector.. (File/AFP)
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Updated 23 October 2020

Saudi investment minister stresses importance of public-private partnership for sustainable growth

Saudi investment minister stresses importance of public-private partnership for sustainable growth
  • Falih: Saudi Arabia is taking all measures to identify the challenges facing the business community

RIYADH: Saudi Investment Minister Khalid Al-Falih on Wednesday stressed the need for a strong public-private partnership to ensure sustainable growth.
He was addressing a session at the World Digital Summit organized by the Financial Times in cooperation with the Ministry of Investment and G20 Saudi Secretariat.
Al-Falih said governments must build real partnerships with the private sector.
Highlighting the importance of investor satisfaction, the minister said “transparency and clarity of regulations” give the business community a sense of security.
He said Saudi Arabia is taking all measures to identify the challenges facing the business community, particularly during the ongoing pandemic.
Al-Falih said the Saudi government has taken several measures to protect investors.
He said the Kingdom’s economy is one of the most resilient economies in the world, and it is evident from the fact that despite the pandemic, Saudi Arabia continued with its development projects.
Al-Falih also highlighted the important role of youth in a country’s development.
He said the Kingdom considers its people particularly the youth its true wealth.
The Saudi government is taking steps to empower the youth and create opportunities for them to contribute to national development, Al-Falih said.
Experts and business leaders from around the world are taking part in the four-day summit. They will discuss issues related to the digital economy, sustainable development, and creating job opportunities.

 

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Global Digital Summit

The Global Digital Summit is a digital conference series is providing an international audience with strategies needed for inclusive recovery, building on the commitment made by G20 ministers to work together to strengthen trade and investment as a tool for global innovation, growth and job creation.


EgyptAir reduces its ticket prices by 50% to European countries

EgyptAir reduces its ticket prices by 50% to European countries
Updated 54 min 20 sec ago

EgyptAir reduces its ticket prices by 50% to European countries

EgyptAir reduces its ticket prices by 50% to European countries
  • Business class tickets discounted by 35%, and economy class tickets by 25%, with discounts applicable when purchasing tickets until Jan. 31
  • Tourism revenues in Egypt plummeted by more than 69% during the last year due largely to the coronavirus disease pandemic

CAIRO: EgyptAir has announced a 50 percent discount on economy and business class tickets between Cairo and a number of European destinations.

The company offered discounts on its flights between Cairo and Paris for travel from Jan. 24 to Jan. 29, between Cairo and Amsterdam for travel on Jan. 24, 27 and 29, Cairo and London from Jan. 27 to Jan. 29 and between Cairo and Frankfurt on Jan. 28.

The company announced the continuation of discounts on flights between Egypt and Saudi Arabia, Riyadh, Dammam, Jeddah, Madinah and Al-Qassim.

Business class tickets are 35 percent off, and economy class tickets are 25 percent off, with discounts applicable when purchasing tickets until Jan. 31 and traveling until March 15, returning before March 31.

Last Thursday, the state-owned company began applying additional discounts to the price of fuel for the aviation sector, to reach 15 cents per gallon, in support of the tourism sector and to stimulate aviation.

Tourism revenues in Egypt plummeted by more than 69 percent during the last year due largely to the coronavirus disease pandemic, dropping to about $4 billion compared to more than $13 billion in 2019 due to the suspension of air traffic and travel worldwide, and the closure of borders between countries for several months.

Egypt announced an initiative to stimulate domestic tourism under the title “Winter in Egypt,” which relies on reducing the prices of domestic flight tickets.