DAVOS: Surplus revenues from oil production will go into investing in “resilience,” the Saudi Minister of Economy and Planning Faisal Al-Ibrahim has said, referring to paying off debt, replenishing reserves, and accelerating transformational projects throughout the Kingdom.
“It’s ultimately going to help the private sector or help our investments that will open the door in front of the private sector to increase its activity,” he told Arab News at the World Economic Forum’s Annual Meeting in Davos.
With a surplus of $15 billion, some of the Public Investment Fund’s owned and led projects will be given support so that they “are delivered either sooner or more effective,” he said.
Al-Ibrahim also noted the Kingdom’s census plans and urged all residents of Saudi Arabia to register.
“It’s very important, it will affect our planning and then it will affect the services and public goods that will be made available to all residents of the Kingdom, citizens, and expats,” he added.
The census had been set to launch in 2020 but was delayed twice due to the coronavirus pandemic and the strict lockdown measures introduced by the Saudi government to help stop the spread of the virus.
While the last census was in 2010, the minister was confident that technological advancements since then would ensure that the new data collected would be “sustainable.”
He said: “We don’t want to say in nine years from now, ‘this data is nine years old, and I can’t trust it.’ No, we did many more surveys, we did more projects, components that got you refreshed data.”
Al-Ibrahim was part of a delegation of seven Saudi ministers who participated in key forum events including panel discussions.
The delegation was headed by Minister of State Ibrahim Al-Assaf, and included Foreign Minister Prince Faisal bin Farhan, Minister of Investment Khalid Al-Falih, Minister of Finance Mohammed Al-Jadaan, Minister of Communications and Information Technology Abdullah Al-Swaha, and Assistant Minister of Tourism Princess Haifa Al-Saud.
“I think our ambition from this meeting as a delegation is to deepen our conversations into the agenda-setting process, and we’ve achieved this with what might be a smaller number of ministers. But in the number of engagements, the top-tier engagements, it’s probably one of the highest.
“It’s an opportunity for us to rub shoulders with policymakers, investors, private sector and industry leaders because we have a wealth of knowledge, we have a lot of lessons learned from the last seven years that we can share.
Al-Ibrahim added: “But also, we have so many challenges that we’re still tackling that we can partner up and everybody’s interested, everybody’s looking at it.”
Bahrain tourism minister discusses opportunities in Saudi Arabia with officials
Both officials agreed to explore investment opportunities in the tourism sector in both countries
Updated 15 sec ago
RIYADH: Bahrain’s tourism minister discussed expanding cooperation with Saudi Arabia in the tourism sector during an official visit to the Kingdom, Bahrain News Agency (BNA) reported.
Fatima Jaafar Al-Sairafi met with Qusai bin Abdulla Al-Fakhri, CEO of Saudi Tourism Development Fund, in Riyadh where both reviewed ways to create diverse business opportunities in the tourism sector and promote sustainability in line with international developments.
“They agreed to explore the future prospects of tourism projects undertaken by the private sector in both countries, in addition to tapping into investment opportunities in this vital sector,” the BNA statement read.
The officials praised the deep-rooted historic relations between both kingdoms, highlighting efforts to strengthen the steadily growing ties.
Al-Sairafi highlighted Bahrain’s 2022-2025 tourism strategy, which aims to increase cooperation with other countries to boost investment in tourism infrastructure.
Saudi charity KSrelief launches medical program combatting blindness in Bangladesh
Thousands of people were examined in the new scheme
Updated 10 min 57 sec ago
RIYADH: A new scheme combatting blindness and its causes in Bangladesh was launched on Monday by the King Salman Humanitarian Aid and Relief Center (KSrelief).
The KSrelief voluntary medical team examined 6,600 cases, and performed 150 successful cataract procedures.
This latest scheme serves as an extension of projects combating blindness by the Saudi charity, for families with low incomes in a number of countries.
All you need to know about Saudi Arabia’s new social media influencer permit
Kingdom’s media regulator says new law to take effect from October, with all social media influencers affected
Updated 11 August 2022
TAREK ALI AHMAD
LONDON: As more Saudis connect through their social media profiles and even begin to profit from these platforms, the Kingdom has launched a new licensing system to properly monitor the influencer industry.
From early October, every Saudi and non-Saudi content creator in the Kingdom who earns revenue through advertising on social media must first apply for an official permit from the General Commission for Audiovisual Media (GCAM).
For a fee of SR15,000 (roughly $4,000), content creators will receive a permit lasting three years, during which time they can work with as many private entities as they wish and promote any product or service, as long as it does not violate the Kingdom’s laws or values.
The incoming influencer license “is not a permit to censor or to block,” Esra Assery, CEO at GCAM, told Arab News. “It’s more of a permit to enable the maturity of the sector. We want to help those individuals grow, but grow in a professional way so they can make a career out of (social media revenue).”
The new regulations are being touted as legal protections, both for influencers and businesses wishing to advertise with them, so that rates and contractual obligations are standardized across the industry.
“The market is so unregulated,” said Assery. “We’re not against influencers or those individuals. Actually, we want to enable them. If you check out the new bylaw, it protects them also, because the bylaw regulates their relationship with the advertisers.”
Currently, anyone in Saudi Arabia is able to advertise on social media and earn money from deals with private entities — with payments per post climbing into the thousands of riyals, depending on the number of followers an influencer can reach.
Concern has been expressed that introducing permits and regulations will undermine how much money influencers can make and might even constitute censorship. However, GCAM insists the permits are designed to ensure transparency between influencers and their clients.
Saudi influencers, whether based in the Kingdom or abroad, must apply for the permit if they wish to work with a brand — local or international. However, non-Saudi residents in the country must follow a different track.
After applying to the Ministry of Investment for a permit to work in the country, they can then apply for an influencer permit through GCAM. However, non-Saudi residents must be represented by specific advertising agencies.
“While some influencers may focus on the short-term loss of paying the license fee, there is a huge benefit to licensing coming in as it legitimizes the sector on a national level,” Jamal Al-Mawed, founder and managing director of Gambit Communications, told Arab News.
“This is crucial in the influencer industry as it has been a bit of a wild west for marketing in the past, with no clear benchmarking for rates or contracts.”
Al-Mawed said that the new measures can protect brands that are susceptible to fraud “when they pay huge budgets to influencers who are buying fake followers and fake engagements. This creates a vicious circle, as hard-working content creators are undermined by the bad apples.”
Although the new license is unlikely to solve every issue overnight, “it does create a foundation for more professionalism and accountability,” Al-Mawed added.
In June, non-Saudi residents and visitors to the Kingdom were prohibited from posting ads on social media without a license. Those who ignore the ruling face a possible five-year prison sentence and fines of up to SR5 million.
GCAM announced the ban after finding “violations by numerous non-Saudi advertisers, both residents and visitors, on social media platforms.”
“After checking their data, it was found that they had committed systemic violations, including lack of commercial registrations and legal licenses, and they are not working under any commercial entity or foreign investment license,” the commission said at the time.
Now, with a regulated license, such violations will be easier to monitor and the sector will be better regulated to ensure full transparency.
Although Saudi influencers will be able to hold full-time jobs while earning on the side through promotional campaigns on their social media profiles, the law states that non-Saudis can work only in one specific role while residing in the Kingdom.
However, the system does not apply to businesses and entities — such as bakeries or hair salons — that hold social media accounts and advertise their own products or services on these platforms. Only individuals are affected by the new law.
There are certain exceptions, however, such as individuals who have been invited to the country by a ministry or government entity in order to perform, including musicians and entertainers.
With the rise of social media over the past decade, content creators and so-called influencers with thousands of followers on Instagram, TikTok, Snapchat and other platforms have drawn audiences away from traditional outlets, such as television, newspapers and magazines, to new and largely unregulated media.
Sensing the shift in content consumption, advertisers have followed the herd. Crystal-blue waters caressing white, sandy beaches at luxury resorts and scrumptious feasts at the finest restaurants are now commonplace on influencer profiles as businesses rush to take advantage of more “natural-feeling” product placement.
However, regulators have struggled to keep up with this rapid transformation, leaving the process open to legal disputes, exploitation and abuse. That is why authorities elsewhere in the world have also been exploring influencer permits.
Dubai, widely seen as the influencer hub of the Middle East, is among them.
In 2018, the UAE’s National Media Council launched a new electronic media regulation system, which required social media influencers to obtain a license to operate in the country.
The cost of the annual license is 15,000 AED (roughly $4,000). Those who fail to obtain or renew the license can face penalties including a fine of up to 5,000 AED, a verbal or official warning, and even closure of their social media accounts.
The rules apply to influencers visiting the UAE as well. They must either have a license or be signed up with an NMC-registered influencer agency to operate in the country.
With Saudi Arabia progressing in the entertainment and creative industries, the introduction of the license is viewed as a step in the right direction.
“It’s great news for the industry,” said Al-Mawed. “When someone is licensed by the government to offer their services, that gives them a level of safety and trust and can help filter out the scammers who prefer to fly under the radar.”
Druze: the great survivors
How the world's most secretive faithhas endured for a thousand years
RIYADH: A fourth group of health security trainees graduated from the Saudi Commission for Health Specialties in a virtual ceremony on Wednesday.
A total of 4,291 male and female graduates will join the job market.
Dr. Aws Al-Shamsan, secretary-general of the Saudi Commission for Health Specialties, said that health security plays an important role in improving healthcare services.
The program includes practical and theoretical training for three months, in addition to two weeks of field training in one of the health sectors, allowing trainees to benefit from hands-on experience.
Health security graduates receive a diploma allowing them to work in the Kingdom’s health sector.
JEDDAH: Pilgrims sheltering from heavy rain in Makkah on Tuesday received a helping hand when the General Presidency of the Two Holy Mosques handed out umbrellas to visitors at the Grand Mosque.
Khaled bin Fahd Al-Shalwi, assistant for the general president for social, voluntary and humanitarian services agency, said that the “Umbrella of Mu’tamer” initiative is part of a range of services designed to help visitors perform their rituals.
Programs and services come under the direction of the President for the Affairs of the Two Holy Mosques, Abdulrahman Al-Sudais, who strives to provide a safe environment to allow visitors to the Grand Mosque to complete their rituals with ease, he added.
According to the presidency’s website, the presidency has also employed more than 200 supervisors, 4,000 female and male workers, and utilized more than 500 items of equipment to deal with the rain at the Grand Mosque through its environmental protection agency.
Ahmed bin Omar Bilaamash, assistant to the general president for services and achievement of the environmental protection agency, said that prayer areas, entrances and exits, and the mataf — the circumambulation space around the Kaaba — are equipped to handle the rainfall.