Saudi Arabia among top 7 entrepreneurial nations

Saudi Arabia among top 7 entrepreneurial nations
Established in 2015, MBSC is a private higher education institution for both men and women, located in King Abdullah Economic City.
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Updated 03 August 2021

Saudi Arabia among top 7 entrepreneurial nations

Saudi Arabia among top 7 entrepreneurial nations

The Prince Mohammed Bin Salman College of Business and Entrepreneurship (MBSC) along with the Babson Global Center for Entrepreneurial Leadership recently released the Global Entrepreneurship Monitor (GEM) Kingdom of Saudi Arabia National Report 2020-21. The GEM report, which charts levels of entrepreneurial motivation and activity across the globe, ranked Saudi Arabia among the top 7 countries out of 44 nations, positioning the Kingdom among the world’s most elite entrepreneurial nations.

The report charts the Kingdom’s progress in setting the stage for entrepreneurial opportunities and culture. Ninety percent of Saudis surveyed in the GEM report agree or strongly agree that it is easy to start a business, placing the Kingdom in top position among GEM economies. Further, experts surveyed rated both the government’s response to the COVID-19 pandemic and the response of entrepreneurs first among GEM economies. And in another first, Saudi Arabia is now the only nation among 23 high-income GEM economies with higher startup rates for women than men.

Across the globe, entrepreneurs reported a worsening income due to the pandemic, and this was also true in Saudi Arabia. Yet, despite the turbulent context, Saudi Arabia’s total rate of startup activity increased from 14 percent of the population in 2019, to 17 percent in 2020. Coupled with this, Saudi Arabia reported the highest rate of market confidence, with 80 percent seeing opportunities to start a business as a result of the changes brought about by the pandemic.

The report reveals that total entrepreneurial activity in Saudi Arabia has increased by 24 percent compared to 2019, regardless of the pandemic’s profound impact on entrepreneurship. The Kingdom recorded a 65 percent increase in business ownership over the past three years. The report also shows that more than 90 percent of adults see entrepreneurship as a favorable career choice, and a third of Saudis are keen on launching a business within the next three years.

Fahd Al-Rasheed, vice chairman of MBSC’s board of trustees, and president of the Royal Commission for Riyadh City, said: “Our ambition stated in Vision 2030 is for Saudi Arabia to be a world-leading entrepreneurial nation, and with our shared efforts and confidence, we now proudly stand as seventh in the world in entrepreneurial competitiveness. From government, to nonprofits, universities, companies and youth, our country is being energized by an entrepreneurial spirit and mindset. I particularly want to recognize and celebrate the entrepreneurs propelling our country’s tremendous performance, and I invite all Saudis to take pride in this collective excellence and recognition.”

Saleh Ibrahim Alrasheed, governor of the Small and Medium Enterprises General Authority (Monsha’at), said: “Saudi Arabia’s steady improvement on the NECI over the past five years is testimony to the success of the Kingdom’s efforts to nurture a thriving entrepreneurship ecosystem in line with the goals of Vision 2030. At Monsha’at, we are proud of our contributions to this achievement through our endeavors aimed at providing support for SMEs and developing the sector in accordance with the best standards.”

Professor Zeger Degraeve, executive dean, MBSC, said: “As testified by the successive GEM Saudi Arabia reports, Saudi Arabia has been building a solid foundation for a robust entrepreneurship ecosystem over the past few years.” 

This strong footing enabled the Kingdom to remain resilient even in the face of extreme challenges stemming from the pandemic and provide required support for SMEs and startups.”


LuLu promotes Saudi culture with calligraphy campaign

LuLu promotes Saudi culture with calligraphy campaign
Updated 22 September 2021

LuLu promotes Saudi culture with calligraphy campaign

LuLu promotes Saudi culture with calligraphy campaign

The LuLu Group in Saudi Arabia has become the first retailer to support the Saudi Ministry of Culture’s efforts to preserve, promote and celebrate the history and aesthetics of Arabic calligraphy in the Year of Arabic Calligraphy 2021 — a campaign run by the ministry.

The 22 LuLu Hypermarkets across the Kingdom will soon start using distinctive Arabic calligraphic artwork on all point-of-sale materials, such as paper bags, shopping bags and reusable bags.
Launching the Year of Arabic Calligraphy in 2020 and extending it to 2021, the Saudi ministry aims at turning the spotlight on the beauty of Arabic calligraphy, which reflects the historic heritage and richness of the Arabic culture, as well as positioning the Kingdom as its incubator, sponsor and supporter, unifying efforts that seek to preserve and protect it from its extinction. LuLu’s use of the calligraphic art in its packaging material will lend a contemporary touch to the art form and show its adaptability and practical utilitarian beauty.

LuLu’s initiative to support the ministry comes as part of the group’s commitment to promoting local culture and community initiatives.

“LuLu is honored to support such a cause that promotes the beauty and inspiring cultural heritage of the Arab world,” said Shehim Mohammed, director of LuLu Hypermarkets Saudi Arabia. “During the year of Arabic Calligraphy 2021, we pledge to work closely with the Saudi Ministry of Culture and bring alive the wonder of Arabic calligraphy, especially in a modern context for the younger generation.”


Intigral marks Sept. 23 with Jawwy TV offers

Intigral marks Sept. 23 with Jawwy TV offers
Updated 22 September 2021

Intigral marks Sept. 23 with Jawwy TV offers

Intigral marks Sept. 23 with Jawwy TV offers

Intigral, a provider of digital entertainment and sports in the Middle East and North Africa region, is celebrating this year’s Saudi National Day with exciting offers from Jawwy TV, available to its viewers throughout the Kingdom between Sept. 22-27.

The first offer will allow all Jawwy TV app subscribers to enjoy three months access to the platform at a discount of 50 percent. New subscribers will be able to avail the same price for the same period following a seven-day trial. The campaign excludes STC Mowaftar Basic, 2, 3, and 3+ subscribers, who are granted three free months of Jawwy TV upon joining the platform at any time.

Jawwy TV Home users will also be able to watch TVOD titles for 91 halalas ($0.24) each, by choosing from a variety of shows and movies offered by Jawwy TV’s extensive library. 

“These offers reiterate Intigral’s commitment to providing the best entertainment experiences to its subscribers and augment the Kingdom’s digital entertainment scene by offering unmatched digital entertainment products and services,” a statement said.

“As Saudi Arabia’s premiere entertainment curator and the region’s favored digital entertainment platform, Jawwy TV offers a one-stop destination for viewers seeking a unique, personalized, and all-in-one viewing experience encompassing rich content from a multitude of genres, with world-class accessibility and customization controls that bring them the best digital experience possible.”

The Jawwy TV app is available through smart handheld devices and across all major smart TV brands.


New Tous jewelry featuring palm tree celebrates National Day

New Tous jewelry featuring palm tree celebrates National Day
Updated 22 September 2021

New Tous jewelry featuring palm tree celebrates National Day

New Tous jewelry featuring palm tree celebrates National Day

Global jewelry brand Tous has launched an exclusive jewelry collection to mark Saudi Arabia’s 91st National Day. The Spanish brand continues to celebrate special occasions around the world and this time shares the joy of the National Day with Saudi women.

The new collection includes a variety of golden necklaces, earrings, bracelets and rings with elegant designs. The gemstones reflect the different shades of green representing the Saudi flag while the palm tree — the iconic Saudi logo — is featured in 18-carat yellow gold to express pride and glory in Saudi Arabia.

“The National Day collection by Tous is dedicated to the inspiring and confident Saudi women who are looking for jewelry to complement their appearance in a way that expresses their national pride. This extraordinary green collection with all its unique details including the golden palm tree is a timeless and priceless gift to all citizens and residents celebrating their love for the Kingdom of Saudi Arabia,” the jeweler said in a statement.

While the new collection has especially been launched for the occasion, its pieces can make at any time the perfect gift from Saudi men to express their love and affection to the special women in their lives.

Since 1920, Tous has been considered as one of the top brands in the jewelry making industry, celebrating special occasions with its customers around the world while promoting national identities in the form of both contemporary and classic designs. The centenary brand has a presence in 45 countries, with more than 700 stores.


Saudi citizen receives LG Righteous Person Award for heroic act

Saudi citizen receives LG Righteous Person Award for heroic act
Updated 22 September 2021

Saudi citizen receives LG Righteous Person Award for heroic act

Saudi citizen receives LG Righteous Person Award for heroic act

A Saudi citizen has been recognized by LG Electronics for his valiant efforts after heroically protecting his community. Mohammad Al-Alit, residing in Dammam city with his family of six, works as the director of the department of hygiene and markets in the municipality. On an early June morning, Al-Alit noticed smoke emerging from a car that was parked among five other cars in front of an apartment building. The fire immediately caught on the shade that was above the cars. He promptly thought of possible options to approach the situation: (1) Evacuate the apartment building and risk tenants’ lives; (2) call the fire department and wait until they arrive or alternatively (3) risk his life and resolve the issue on his own. 

Al-Alit chose the heroic and utilitarian act, and saved the apartment building tenants by risking his own life. He immediately drove the burning car away which exploded moments later. His heroic efforts saved the lives of the residents. 

“I developed a brave heart through my family. My father influenced and taught me how to be courageous. My father followed this principle: ‘If you see any issue that you can resolve, immediately take action and resolve it, even if it means risking your own life.’ Although June 1 was the most terrifying day for me, I am very happy and thankful to God that everyone was ok. Heroism is all about acting on the spot and thinking of others rather than of personal interests and achievement. Heroism starts from the community. It’s the humanitarian effort that shows concern for each other and the willingness to take action in the face of challenges,” said Al-Alit.

Al-Alit was recognized for his efforts by LG. LG has long aimed to create values needed by society through constant interaction with the communities it operates in. One of those cultivations is to reward people who are dedicated to social justice through their own willingness to spread positive influence. This recognition is known as the LG Righteous Person Award. The award was created in 2015 and has been recognizing righteous citizens around the world and upholding them as role models of society and more. 

The award has come to Saudi Arabia for the first time. LG evaluated a number of individuals who most matched with LG’s social contribution criteria before zeroing in on Al-Alit.

“I am humbled to be recognized by LG for this and hope my story inspires others to care for their communities,” he said. 

Yeon-Wook Jeong of LG Electronics said: “The LG Righteous Person Award would continue to develop and expand its responsibilities as a social enterprise.”

For more information on LG’s Righteous Person Award, please visit: https://www.lgcorp.com/csr/responsibility/lg


Thakher Makkah to host three new Radisson hotels

Thakher Makkah to host three new Radisson hotels
Updated 22 September 2021

Thakher Makkah to host three new Radisson hotels

Thakher Makkah to host three new Radisson hotels

Radisson Hotel Group has announced the signing of three hotels within the Thakher Makkah megaproject, an urban development in the holy city. The Park Inn by Radisson Makkah Thakher City Tower West, the Park Inn by Radisson Makkah Thakher City Tower East and the Radisson Hotel Makkah Thakher City are set to open in Q4 2022. The new signings will add a total of 992 rooms and apartments, doubling the group’s portfolio in Makkah, a key target growth market in Saudi Arabia.

Elie Younes, executive vice president and chief development officer EMEA, Radisson Hotel Group, said: “We are delighted to announce this portfolio of three new hotels, as it not only accelerates our growing presence in Makkah, but also reaffirms our commitment toward the country and its future. The Thakher Makkah megaproject is designed to attract millions of pilgrims every year and will positively contribute to the country’s ambitious plan that aims to host 30 million Umrah visitors, as well as, hosting 6 million Hajj pilgrims by the year 2030. We remain committed to the country’s Vision 2030 and its initiatives to significantly increase the contribution of leisure and business tourism to the country’s economy. We would like to thank our business partners for their trust in our brands and teams as we look forward to an exciting and rewarding journey.”

Located within the Thakher Makkah megaproject, a mixed-use development comprising hotels, residential and retail units, the hotels are just a stone’s throw away from the holy site.

Abdulaziz Al-Aboudi, CEO of Thakher Development Co., said: “The keenness of international hotel companies to provide their services to the Thakher Makkah Project reflects the importance and value of the project as a prominent tourism destination in the holy city. Such cooperation gives an indication that we are on the right path to providing new distinctive hospitality and housing options, which is in line with Vision 2030. We are excited to announce the launch of further cooperation with Radisson Hotel Group, which we anticipate will be a fruitful endeavor.”

A combination of both hotel and residential options, the Radisson Hotel Makkah Thakher City will consist of 440 rooms and 206 branded residences, a lobby café, and an all-day dining restaurant. For leisure and recreation, the hotel will feature separate ladies and male gym facilities, while the meeting and event spaces will include five meeting rooms as well as three conference rooms.

Park Inn by Radisson Makkah Thakher City Tower West and Park Inn by Radisson Makkah Thakher City Tower East are designed to facilitate pilgrims’ stay and experience in the Kingdom. With clever use of color, contemporary design, and friendly and personalized services, guests can relax while fully embracing their pilgrimage.

Boasting 203 rooms, the Park Inn by Radisson Makkah Thakher City Tower West offers its guests a lobby cafe and an all-day dining restaurant. The upcoming Park Inn by Radisson Makkah Thakher City Tower East houses 143 rooms, a lobby lounge, and one restaurant.

The city of Makkah, situated 70 km southeast of Jeddah, is known as the holiest city in Islam. The main sources of economic activity in Makkah are the Hajj and Umrah pilgrimage, with millions flocking to Makkah each year for worship and devotion. Since the seventh century, Muslims all over the world have visited Makkah, the birthplace of Islam. It is a pilgrimage that marks their observance of one of the five pillars of Islam and the fulfillment of a once-in-a-lifetime ritual.