Saudi Arabia eyeing trade hub with trillion-riyal investments, transport official tells WEF

Special Saudi Arabia eyeing trade hub with trillion-riyal investments, transport official tells WEF
​ Nouf Al-Fares, Saudi assistant Deputy Minister of transport and logistics. (WEF photo) ​
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Updated 24 January 2025
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Saudi Arabia eyeing trade hub with trillion-riyal investments, transport official tells WEF

Saudi Arabia eyeing trade hub with trillion-riyal investments, transport official tells WEF
  • Saudi Arabia’s logistics investments and business-friendly policies aim to position the Kingdom as a global trade gateway, panel hears
  • Vision 2030 fosters clear goals, educated governance, and incentives, creating a robust foundation for logistics and transport growth

DUBAI: Savvy logistics investments and business-friendly policies are transforming Saudi Arabia into a global trade hub, a Davos panel was told on Thursday.

Nouf Al-Fares, assistant deputy minister at the Saudi Ministry of Transport and Logistics Services; and Ehab Aziz, chief financial officer of Agility, were speaking at Saudi House during the World Economic Forum’s annual meeting.

The panel highlighted the Kingdom’s ambitious logistics and investment targets, which are being met partly through international deals.

Al-Fares said: “A strategy was announced in mid 2021 by His Royal Highness Crown Prince Mohammed bin Salman. At the beginning I thought it to be intimidating having to raise SR1 trillion ($266 billion) in investments, but we are already halfway there through various established projects like the Riyadh Metro, and the new expansions of seaports and airports.

“We are now in motion to open a metro in Jeddah as well.”

The Kingdom’s shifting policies on foreign investment are also playing a role in surging growth, Al-Fares added.




Nouf Al-Fares, Saudi assistant deputy minister of transport and logistics, participates in the panel discussion at the WEF in Davos on Thursday. (WEF photo)

Foreign investors are now able to claim 100-percent ownership of their Saudi-based businesses — a crucial policy in attracting investment.

“International companies are increasingly seeing the value of investing in Saudi Arabia,” the assistant deputy minister said.

“Chinese companies have already entered the Saudi market, with investments so far reaching over SR1 billion, and there are still more incoming projects.”

Saudi Arabia is preparing to open five new airports in the coming years that will further boost the Kingdom’s connectivity and infrastructure, she added.

“This aligns with our vision and position to being the gateway to Asia, Africa and Europe. We are also preparing projects to back the tourism sector as we are witnessing a surge in numbers of tourists, not including the religious ones.

“A lot of programs and funds that have been developed by our government are geared at attracting the youth, and those leaders with an appetite for change. We are excited for the upcoming completion of projects like the railway, which is to be completed within four years.

“The railway will connect the Kingdom to its GCC neighbors, namely Abu Dhabi, Kuwait and Doha.

Aziz praised the Saudi government’s proactive role in fostering a business-friendly environment.

He highlighted several schemes that have attracted domestic and foreign investment, particularly since the launch of Vision 2030.

The chief financial officer shared the details of his own company’s development in Saudi Arabia.

Agility, a logistics and supply chain leader, has been in operations for more than two decades, beginning as a Kuwaiti public company that constructed warehouses.

“Since its privatization Agility has become a global operator,” Aziz said.

“Today, the company has $11 billion worth of assets spread across various businesses. We also own one of the largest aviation companies that operates within 250 countries.”

A conviction that the Kingdom “would be the place to be in the future” led the company into a Saudi expansion, Aziz said, adding: “And so we have so far not been proved wrong.”

He said: “The story in Saudi is getting better and better over time. It is rare to find a country with a clear vision that is tangible with an educated government.

“The government incentivizing its employees through bonuses is also a new, atypical characteristic. All the infrastructure projects are very important but so is the mindset and attitude.

“And all that has been extremely positive. It has gotten to a level where you feel like you can completely count on the government; this increases your confidence in investing more in the country.”

Al-Fares and Aziz highlighted their optimism over the future of investment in the Kingdom’s transport and logistics sector.

The industry is poised for continued growth thanks to the government’s clear vision and investments that are providing a solid foundation for future development, they said.

“I think 2030 is carrying a lot and we are very optimistic,” Al-Fares added.
 

 


Meet your sole mate at Sneaker Con in Riyadh

Sneaker Con features more than 150 brands showcasing curated collections of rare sneakers, fashion items, and accessories.
Sneaker Con features more than 150 brands showcasing curated collections of rare sneakers, fashion items, and accessories.
Updated 08 February 2025
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Meet your sole mate at Sneaker Con in Riyadh

Sneaker Con features more than 150 brands showcasing curated collections of rare sneakers, fashion items, and accessories.
  • Visitors can buy, sell, and trade rare and limited-edition sneakers

RIYADH: Sneaker Con in Riyadh has opened its doors to enthusiasts and collectors, offering a platform to buy, sell, and trade rare and limited-edition items as part of Riyadh Season.

Billed as “The Greatest Sneaker Show on Earth,” Sneaker Con is one of the world’s largest sneaker conventions, which has previously been held in cities across North America, Europe, and Asia. Its Riyadh edition — the first in Saudi Arabia — runs until Feb. 19 at ANB Arena.

A pair of signed sneakers by basketball player Michael Jordan, featured at Sneaker Con Riyadh. (AN photo by Hajar AlQusayer)

The event provides visitors with the opportunity to engage with industry experts and meet influencers in the sneaker community.

One visitor, Fares Indejani, highlighted the growing sneaker culture in Riyadh, pointing out that sneakers have become an integral part of personal style and expression. He told Arab News about the impact of the event on the local sneaker community.

These sneaker communities are micro-communities that are often isolated and don’t really have a dedicated space. But this event changes that … you can just walk in and meet others like you.

Fares Indejani, Sneaker enthusiast

“These sneaker communities are micro-communities that are often isolated and don’t really have a dedicated space,” he said. “But this event changes that … you can just walk in and meet others like you.

Visitors engaging with various shops and exploring exclusive sneakers at Sneaker Con Riyadh. (Supplied)

“You get an idea of what direction we’re heading toward, and that’s valuable knowledge for investors and business owners,” he added. “Really knowing what kind of communities are popping up, seeing how loud and real they are, and recognizing that they exist, have a voice, and are moving, is crucial.”

Abdulmohsen Al-Ahmari, another visitor, said the event provides an opportunity to see sneakers that are not typically available.

“Making connections at Sneaker Con and getting to know people helps me later,” he said.

Chase Young, a sneaker trader and founder of Culture Kicks, said: “There are people with crazy pairs of shoes and a lot of different collectors’ items here, and very high-end shoes, so (the market) is definitely big here.”

Sneaker Con features more than 150 brands showcasing curated collections of rare sneakers, fashion items, and accessories.

 


Ithra’s Japan Cultural Days draws more than 200k visitors to Dhahran

Ithra’s Japan Cultural Days draws more than 200k visitors to Dhahran
Updated 08 February 2025
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Ithra’s Japan Cultural Days draws more than 200k visitors to Dhahran

Ithra’s Japan Cultural Days draws more than 200k visitors to Dhahran
  • Ithra’s Japan Cultural Days featured many other activities, ensuring that visitors could engage with Japan’s cultural heritage through a variety of creative, educational and interactive experiencesIthra’s Japan Cultural Days featured many other activities

DHAHRAN: Ithra’s Japan Cultural Days concluded on Saturday after a dynamic 17-day run, offering visitors a deep and immersive experience into Japanese arts, traditions and contemporary culture.

The event, which began on Jan. 23, attracted more than 200,000 visitors in its first 10 days.

A variety of activities were offered for children and adults, ensuring everyone's enjoyment. (Supplied)

Japanese Ambassador to Saudi Arabia Morino Yasunari toured the exhibitions, engaged with artists and cultural representatives, and highlighted the importance of strengthening cultural ties between the two countries.

His visit underscored the significance of the festival in fostering dialogue and mutual appreciation.

A wide variety of music was featured at the festival, from meditative shakuhachi to high-energy drums. (Supplied)

The program featured a wide range of activities for both children and adults, ensuring an engaging experience for all ages. Families took part in hands-on craft workshops, traditional calligraphy, origami and manga drawing sessions, while younger visitors enjoyed storytelling sessions featuring Japanese folktales and legends.

One of the most anticipated performances came from Drum Tao, the globally renowned Japanese drumming ensemble known for its powerful stage presence and theatrical performances.

A variety of activities were offered for children and adults, ensuring everyone's enjoyment. (Supplied)

The group combined traditional taiko drumming with modern choreography and lighting effects, delivering a high-energy spectacle that captivated audiences.

A metaverse experience in Ithra’s plaza allowed visitors to explore virtual Japanese markets and cultural celebrations.

A wide variety of music was featured at the festival, from meditative shakuhachi to high-energy drums. (Supplied)

The festival also explored Japanese storytelling through literature and anime. Several sessions on Japanese literature highlighted its unique introspective nature, referencing authors like Haruki Murakami.

Music played a central role in the festival, with performances ranging from the meditative tones of the shakuhachi flute to high-energy drum ensembles. Visitors also explored Japanese culinary traditions, gaining insights into the precision and artistry behind dishes such as sushi and wagashi.

A variety of activities were offered for children and adults, ensuring everyone's enjoyment. (Supplied)

One of the most celebrated workshops covered kintsugi, the Japanese art of repairing broken pottery with gold. Attendees were invited to transform shattered ceramics into decorative pieces, embracing the philosophy of finding beauty in imperfection.

Ithra’s Japan Cultural Days featured many other activities, ensuring that visitors could engage with Japan’s cultural heritage through a variety of creative, educational and interactive experiences.

 


Tourism Ministry launches second executive master’s program to develop Saudi tourism leadership

Tourism Ministry launches second executive master’s program to develop Saudi tourism leadership
Updated 08 February 2025
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Tourism Ministry launches second executive master’s program to develop Saudi tourism leadership

Tourism Ministry launches second executive master’s program to develop Saudi tourism leadership
  • Ministry spokesperson Mohammed Al-Rasasimah said that, through the executive master’s program, the ministry works to provide key opportunities for Saudi tourism professionals to receive advanced education and training

RIYADH: The Saudi Ministry of Tourism has unveiled a second executive master’s program, offering four educational packages and teaming up with three prestigious European hospitality institutions — Les Roches in Spain and EHL and Glion in Switzerland, the Saudi Press Agency reported.

The program aims to train 300 Saudi professionals in international tourism and hospitality management, advancing expertise in the Kingdom’s tourism sector.

Under the ministry’s “Ahluha” initiative, which has already trained more than 100,000 Saudi citizens, domestically and internationally, in 2024. The program focuses on equipping participants with modern management techniques and high-quality resource management skills for the tourism industry.

Candidates must meet rigorous eligibility criteria, including an honors bachelor’s degree in tourism-related fields, minimum five years of professional experience, proven English language proficiency, willingness to travel for training requirements, and successful completion of a personal interview.

According to SPA, the program builds on the success of its first edition, in which 198 graduates completed managerial training at leading Spanish and Swiss institutions.

Ministry spokesperson Mohammed Al-Rasasimah said that, through the executive master’s program, the ministry works to provide key opportunities for Saudi tourism professionals to receive advanced education and training.

He said the program represents a strategic investment in developing Saudi tourism leadership.

“This initiative is crucial for preparing the next generation of Saudi leaders who will drive our growing tourism sector,” he said.

“We are focused on enhancing our national workforce’s capabilities, expanding their horizons and exposing them to global best practices in tourism management,” he added.

 


Diriyah literary festival inspires children

In the Story Village, young visitors listened to inspiring tales told by professionals. (SPA)
In the Story Village, young visitors listened to inspiring tales told by professionals. (SPA)
Updated 08 February 2025
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Diriyah literary festival inspires children

In the Story Village, young visitors listened to inspiring tales told by professionals. (SPA)
  • Children had the opportunity to show their artistic skills in the Story and Drawing Corner in which the little ones transformed stories into paintings that reflected their creative visions

RIYADH: The Diriyah Storytelling Festival, which concluded on Feb. 8, aimed to encourage a love of reading and storytelling in young children.

As part of a series of events in Diriyah Season boasting the theme “Entertain Your Cultural Curiosity,” the festival transformed Diriyah into a magical world for children, one in which they moved between pavilions.

Photo/Saudi Press Agency

In the Story Village, young visitors listened to inspiring tales told by professionals.

Shadow Shows, meanwhile, transported children to realms inspired by the book “Kalila and Dimna,” offering a unique visual experience that blended art with literature.

Photo/Saudi Press Agency

Children also had the opportunity to show their artistic skills in the Story and Drawing Corner in which the little ones transformed stories into paintings that reflected their creative visions.

The interactive performances were no less captivating, presenting historic tales inspired by Diriyah’s rich heritage in a theatrical, interactive format that encouraged children to actively engage. This added a rich educational and cultural dimension to their experience.

The initiative was organized to strengthen the Kingdom’s role as a hub for arts and literature on the world stage.

 


Sri Lankan envoy celebrates diplomacy, independence

Sri Lankan envoy celebrates diplomacy, independence
Updated 08 February 2025
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Sri Lankan envoy celebrates diplomacy, independence

Sri Lankan envoy celebrates diplomacy, independence
  • The envoy highlighted the strong diplomatic relationship between Saudi Arabia and Sri Lanka

RIYADH: Sri Lanka’s ambassador in Riyadh, Omar Lebbe Ameer Ajwad, gave a speech on the 77th anniversary of Sri Lankan independence and 50th anniversary of diplomatic relations between the Kingdom and Sri Lanka on Feb.5 at the Cultural Palace, Diplomatic Quarters in Riyadh on Feb.5.

“I take this opportunity to extend my sincere greetings to all the Sri Lankan nationals living in the Kingdom of Saudi Arabia on the occasion of the 77th Independence Day of Sri Lanka,” he said.

The envoy’s speech focused on Sri Lanka’s politics, tourism and economy.

He also highlighted the strong diplomatic relationship between Saudi Arabia and Sri Lanka.

“Although the modern diplomatic relations between Sri Lanka and Saudi Arabia were established 50 years ago, the ancient diplomatic relations between the two countries, in fact, began in the 7th century A.D., when the then King of Sri Lanka, called Aggabodhi III (623-640 AD) dispatched his ambassador from Sri Lanka to Madina Al-Munawwarah on a factfinding mission at the time of Prophet Muhammad to learn about the new religion of Islam. This incident is reported in the Ajaib-Al-Hind by Ibn Shahriyar,” he said.