Saudi Arabia launches bold initiatives to empower youth, drive innovation

Held under the patronage of Crown Prince Mohammed bin Salman, the Human Capability Initiative 2025 runs from April 13-14 at the King Abdulaziz International Conference Center in Riyadh. AN photo by Huda Bashatah
Held under the patronage of Crown Prince Mohammed bin Salman, the Human Capability Initiative 2025 runs from April 13-14 at the King Abdulaziz International Conference Center in Riyadh. AN photo by Huda Bashatah
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Updated 13 April 2025
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Saudi Arabia launches bold initiatives to empower youth, drive innovation

Saudi Arabia launches bold initiatives to empower youth, drive innovation

RIYADH: The opening day of the Human Capability Initiative 2025 in Riyadh marked a significant milestone in the Kingdom’s journey toward empowering youth and fostering innovation with the signing of several agreements and the launch of impactful programs.

In a move underscoring global collaboration, the Kingdom signed an agreement with the Saudi Arabian Scouts Association, the World Organization of the Scout Movement, and the World Scout Foundation.

Under this partnership, Saudi Arabia will invest $50 million over the next decade to support the Messengers of Peace initiative—a global youth-led program focused on peace-building and sustainable development projects.

On the national front, the Kingdom reaffirmed its commitment to transforming education through the National Curriculum Center. This research-driven institution, working with key government entities such as the Ministries of Sports, Education, Economy and Planning, and Culture, aims to empower teachers and better prepare students for global competitiveness.

King Saud University and CEER, the Kingdom’s national automotive company, also signed a memorandum of understanding to promote collaboration in scientific research, training, and knowledge sharing.

Their partnership will emphasize innovation, technical consulting, and talent development—critical elements in building a knowledge-based economy.

In an effort to professionalize the sports sector, the Ministry of Sports, in partnership with the Leaders Development Institute, introduced the Professional License and Program Accreditation Regulation.

This initiative sets a new benchmark for qualifications, training, and the development of athletic professionals in line with Vision 2030.

Further advancing digital capabilities, the Ministry of Communications and Information Technology, in collaboration with Noon, launched the second edition of the Digital Future Readiness Program.

This initiative will equip 7,000 Saudi students with generative AI skills, combining hands-on training with cutting-edge digital tools to cultivate future-ready leaders.

The Ministry of Tourism also backed a strategic agreement between Umm Al-Qura University and Ecole Hoteliere de Lausanne to strengthen collaboration in tourism education and training.

KSU launched a new open online training platform, offering certified programs recognized by both the university and the National e-Learning Center.

This platform expands professional development opportunities while enabling developers to contribute and gain academic accreditation for their content.

Additionally, KSU signed agreements with IBM Middle East and the Saudi Authority for Data and Artificial Intelligence to accelerate AI innovation through specialized training and certifications.

The Ministry of Human Resources and Social Development also awarded KSU the prestigious Gold Certificate for Accreditation, recognizing its compliance with Universal Accessibility Standards. This milestone underscores KSU’s ongoing commitment to creating an inclusive environment for both students and staff, aligning with Saudi Arabia’s Vision 2030 goals for equitable and accessible education.

In related developments, the King Salman Global Academy for Arabic Language launched several initiatives aimed at strengthening Arabic language education and research on a global scale. One key initiative, the “Language Policies Around the World” project, will compile and analyze language policies in non-Arab countries, comparing them with Saudi Arabia’s own approach. The findings will be presented in a comprehensive report, followed by an international symposium to discuss the future directions of language policy.

KSGAAL is also expanding the scope of its Arabic Language Months initiative. In its second phase, the program will continue offering high-quality Arabic teaching programs, focusing on educator training, improving learning methodologies, and enhancing Arabic’s presence worldwide.

Alongside this, KSGAAL is introducing the “Kalamuna” video series, which features over 50 Arabic language experts who will produce 1,000 short video clips—each under two minutes—aimed at simplifying complex linguistic concepts and elevating the cultural status of Arabic. These videos will be shared across a variety of digital platforms.

Additionally, KSGAAL has launched the “Children of Arabic” book series, a collection of 30 interactive books designed for young learners. The series includes literary stories, language games, and coloring/activity books, with the goal of engaging children with both the Arabic language and Saudi culture in an educational and fun way.

Meanwhile, the Heritage Commission has introduced the Heritage Pioneers Program, an annual training initiative aimed at 500 participants in fields such as archaeology, site management, and craft preservation. The program offers participants hands-on experience, mentorship from experts, and collaboration with universities and cultural organizations to develop critical skills in heritage conservation.

Targeting both recent graduates and experienced practitioners, the program plays an important role in supporting Saudi Arabia’s cultural leadership and its broader sustainable development goals.

The Ministry of Industry and Mineral Resources signed an MoU with FESTO, a German company, to develop vocational training programs in industrial facilities across the Kingdom.

Minister of Industry and Mineral Resources Bandar Al-Khorayef also witnessed the launch of NAVA Academy—the first digital glossary for electric vehicle manufacturing and maintenance terminology.

This initiative was launched in partnership with theministry and the King Salman Global Academy for Arabic Language.

The UN Educational, Scientific and Cultural Organization, through its Regional Center for Quality and Excellence in Education, established a strategic partnership with the World Bank to advance educational development initiatives.

The first day of the event concluded with the signing of a MoU between the Statistical, Economic and Social Research and Training Centre for Islamic Countries and the Technical and Vocational Training Corp., reinforcing efforts to enhance vocational education and workforce development across the region.

Held under the patronage of Crown Prince Mohammed bin Salman, the Human Capability Initiative 2025 runs from April 13-14 at the King Abdulaziz International Conference Center in Riyadh. Themed “Beyond Readiness,” the summit brings together more than 12,000 attendees and 300+ speakers from over 100 countries.

Discussions focus on preparing the global workforce for future challenges, with key themes including AI-driven transformations, upskiling strategies, and inclusive development. The event also features the Education Global Exhibition, spotlighting innovations in learning and workforce evolution.


Closing Bell: Saudi main index slips 1.15% to close at 10,591

Closing Bell: Saudi main index slips 1.15% to close at 10,591
Updated 38 min 41 sec ago
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Closing Bell: Saudi main index slips 1.15% to close at 10,591

Closing Bell: Saudi main index slips 1.15% to close at 10,591
  • MSCI Tadawul Index decreased by 11.84 points to close at 1,366.6
  • Parallel market Nomu lost 254.4 points to end at 26,203.84 points

RIYADH: Saudi Arabia’s Tadawul All Share Index declined on Wednesday by 122.69 points, or 1.15 percent, to end at 10,591.13.

Total trading turnover of the benchmark index was SR6.22 billion ($1.66 billion), with 18 stocks advancing and 231 declining. 

The MSCI Tadawul Index also decreased by 11.84 points, or 0.86 percent, to close at 1,366.6

The Kingdom’s parallel market, Nomu, reported drops, losing 254.4 points, or 0.96 percent, to close at 26,203.84 points. This comes as 30 stocks advanced while as many as 55 retreated. 

Among the top gainers, BAAN Holding Group Co. rose 1.6 percent to SR36.85, while Advanced Petrochemical Co. added 1.26 percent to end at SR28.1. 

Dallah Healthcare Co. and Naseej International Trading Co. gained 1.05 percent and 0.94 percent, respectively, closing at SR115.4 and SR74.90.

Saudi Tadawul Group Holding Co. also rose 0.87 percent to close at SR162.

Among the worst performers, National Co. for Learning and Education led losses with a decline of 7.53 percent to close at SR140.

Saudi Marketing Co. followed, shedding 7.04 percent to settle at SR15.32, while Ataa Educational Co. fell 5.85 percent to SR61.20. 

Arabian Pipes Co. ended the session down 5.46 percent at SR5.54, and Saudi Reinsurance Co. edged 5.13 percent lower to SR42.55.

On the announcements front, Saudi National Bank announced its intention to fully redeem its SR4.2 billion Tier-1 capital sukuk at face value on June 30, marking the fifth anniversary of its issuance.

The sukuk, which was issued on June 30, 2020, with a total value of SR4.2 billion, will be redeemed at 100 percent of the issue price in accordance with its terms and conditions.

The bank confirmed that all necessary regulatory approvals for the redemption have already been obtained.

SNB closed Wednesday’s session 0.43 percent lower to reach SR34.35.

Saudi Arabia’s low-cost carrier flynas made its stock market debut, opening at SR77.50 and climbing to SR84.10 before retreating to a low of SR69.90. The stock closed at SR77.30, 3 percent below its IPO price of SR80.


Saudi Arabia ranks 17th globally in competitiveness index as it outshines economic heavyweights 

Saudi Arabia ranks 17th globally in competitiveness index as it outshines economic heavyweights 
Updated 18 June 2025
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Saudi Arabia ranks 17th globally in competitiveness index as it outshines economic heavyweights 

Saudi Arabia ranks 17th globally in competitiveness index as it outshines economic heavyweights 
  • Listing driven by strong governance, infrastructure upgrades, diversification, and regulatory reforms
  • Kingdom placed behind China in 16th and ahead of Australia in 18th place

JEDDAH: Saudi Arabia has maintained its spot in the top 20 of the World Competitiveness Ranking, ahead of global heavyweights like the UK, Germany and France.

The Kingdom secured 17th position on the list, driven by strong governance, infrastructure upgrades, diversification, and regulatory reforms.

Issued by the International Institute for Management Development’s World Competitiveness Center, the ranking is widely recognized as a benchmark for evaluating how effectively countries utilize their resources to drive long-term economic growth. 

Saudi Arabia was placed just behind China in 16th and ahead of Australia in 18th place. 

Although this marks a slight drop from 16th in 2024, Saudi Arabia’s 2025 ranking represents a significant improvement from 32nd in 2023 and 24th in 2022, underscoring its rising economic stature.

Infrastructure continues to show marked improvement. Basic infrastructure ranks seventh globally with a score of 67.6, up two positions. File/SPA

As part of Vision 2030, Saudi Arabia launched the National Competitiveness Center in 2019, with the organization now working with 65 government bodies to drive reforms centered on productivity, sustainability, inclusiveness, and resilience.

According to the World Competitiveness Center, the Kingdom needs to “continue efforts to promote renewable energy and reduce carbon emissions” and “carry on enhancing overall competitiveness across multiple pillars.”

Improvement will also come if Saudi Arabia continues to “invest even more in human capital development across all economic sectors” and push ahead with “ongoing government endeavors to achieve the targets in the Saudi 2030 vision.”

The IMD report is one of the world’s most comprehensive competitiveness benchmarks, evaluating 69 countries across four pillars: economic performance, government efficiency, business efficiency, and infrastructure.

The ranking shows that GCC countries continue to demonstrate their growing economic strength and regional importance, with the UAE leading the group, securing fifth place globally, reflecting its diversified economy and strategic initiatives to attract investment.

Qatar follows in ninth place, supported by substantial infrastructure development and robust financial resources.

Bahrain was ranked 22, Oman came in at 28, and Kuwait was placed at 36, showing steady progress through structural reforms and sectoral investment despite ongoing challenges.

These rankings underscore the GCC’s ambition to strengthen global economic resilience and competitiveness.

Switzerland, Singapore, and Hong Kong lead the ranking, while Canada, Germany, and Luxembourg saw the most notable improvements among the top 20 economies.

Saudi focus

According to the IMD, Saudi Arabia has made progress in several key economic areas, although some aspects still require improvement.

On the economic performance indicator, the Kingdom ranks 17th globally with a score of 62.3. Its domestic economy scored 59.2, placing it 25th worldwide, an improvement of six positions from the previous year.

Saudi Arabia ranked 12th globally in business efficiency with a strong score of 81.4. Shutterstock

International trade advanced three places to 29th with a score of 56.0, while global investment climbed four spots to 16th with a score of 57.8, signaling increased investor confidence.

However, the employment sector declined slightly, dropping three positions to 29th with a score of 55.6. 

Inflationary pressures impacted the prices indicator, which fell eight places to 19th despite maintaining a relatively strong score of 60.7.

These mixed results reflect Saudi Arabia’s ongoing efforts to strike a balance between growth and economic stability amid global and domestic challenges.

Public finance indicators remain solid, with a score of 69.5, placing the Kingdom 13th globally, despite a modest three-position drop.

Tax policy holds steady at 67.6 points and 12th place, with a similar three-rank decline. The institutional framework experienced a more pronounced decline, dropping seven places to 27th with a score of 58.6, indicating potential areas for reform.

In contrast, business legislation improved, rising two places to 13th with a score of 67.6, indicating regulatory progress. The societal framework remains a key challenge, ranking 55th with a score of 44.2, representing a nine-position decline, which highlights the need for continued social and structural development to support economic goals.

Saudi Arabia ranked 12th globally in business efficiency with a strong score of 81.4. Productivity and efficiency showed further strength, scoring 66 and placing the Kingdom 15th, up six spots.

The labor market remains a key strength, ranking 9th despite a four-place drop, with a score of 64.2. The finance sector gained three ranks to 19th with 63.4 points, while management practices rose to 17th with a score of 64.

Attitudes and values remain a significant national asset, ranking third globally with a score of 81.6, reflecting a strong culture of resilience and ambition.

Infrastructure continues to show marked improvement. Basic infrastructure ranks seventh globally with a score of 67.6, up two positions. Technological infrastructure rose 10 places to 23rd with a score of 59.5, and scientific infrastructure improved nine spots to 29th with a score of 52.1.

Health and environment indicators gained slightly, moving up one place to 47th with a score of 47.5. Education declined marginally, down one position to 39th with a score of 55.4, signaling an area for continued focus.


Riyadh Air to launch new destination every 2 months as 787 deliveries near

Riyadh Air to launch new destination every 2 months as 787 deliveries near
Updated 18 June 2025
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Riyadh Air to launch new destination every 2 months as 787 deliveries near

Riyadh Air to launch new destination every 2 months as 787 deliveries near
  • Carrier is awaiting delivery of its initial aircraft to commence services
  • Riyadh Air secured necessary landing slots for its first destinations

RIYADH: Saudi Arabia’s Riyadh Air is gearing up to introduce a new international destination every two months once it begins operations, as the carrier prepares to receive its first Boeing 787 aircraft. 

Riyadh Air, fully owned by the Public Investment Fund, is awaiting delivery of its initial aircraft to commence services, according to CEO Tony Douglas. 

Speaking to Bloomberg, he said the airline requires two jets to initiate a round-trip route to each new destination, adding that the Saudi carrier aims to connect to 100 cities by 2030 as part of its long-term growth strategy. 

This aligns with the Kingdom’s National Aviation Strategy, which targets doubling passenger capacity to 330 million annually from over 250 global destinations and increasing cargo handling to 4.5 million tonnes by 2030. 

The carrier currently has four Boeing 787 Dreamliners in different stages of assembly at Boeing’s facility in Charleston, South Carolina. Operations are expected to begin once the first two aircraft have been delivered. 

Riyadh Air had initially planned to launch services in early 2025, but delays in aircraft handovers from Boeing have pushed back the timeline. 

“The fact that these are in production probably brings my blood pressure down,” Douglas said. “I will actually not believe they have been delivered until the day after they have been delivered.” 

Douglas also said Riyadh Air has secured the necessary landing slots for its first destinations, though he did not disclose which cities. 

At the Paris Air Show this week, the airline announced an order for up to 50 Airbus A350 long-range jets, with deliveries expected to begin in 2030. 

Riyadh Air has also placed orders for 60 Airbus A321neo narrowbody aircraft and as many as 72 Boeing 787s, including options. 

Commenting on the Airbus order, Douglas said the decision was based on the aircraft’s capabilities and favorable commercial terms when compared with Boeing’s 777X model. “It was a very close call,” he said. 

The airline’s growth strategy reflects the Kingdom’s ambition to transform Riyadh into a global travel hub and position Saudi Arabia as a major player in international aviation. 

Riyadh Air aims to contribute to the broader Vision 2030 goals by enhancing connectivity and promoting tourism across the Kingdom. 


Saudi-based TIME Entertainment makes Nomu market debut

Saudi-based TIME Entertainment makes Nomu market debut
Updated 18 June 2025
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Saudi-based TIME Entertainment makes Nomu market debut

Saudi-based TIME Entertainment makes Nomu market debut
  • Listing underscores company’s maturity and readiness for future expansion
  • TIME Entertainment specializes in producing large-scale live events across various sectors

RIYADH: TIME Entertainment Co., a Saudi-based full-service live events and experiences management company, has officially begun trading on the Nomu parallel market, marking a significant step in its growth trajectory.

Chairwoman Ameera Al-Taweel described the listing as a strategic milestone that underscores the company’s maturity and readiness for future expansion.

TIME’s listing comes as part of broader efforts by Saudi Arabia to expand investor participation in the Nomu market. In 2024 alone, Nomu has seen 28 IPOs and three direct listings, raising about SR1.1 billion ($293 million).

“We have built a Saudi business model within the live events sector that meets global standards. The events sector is vast and diverse. Our experience represents a successful model that has been built based on a global vision, capped with a Saudi identity, and is distinguished by specializing in producing and organizing major live events managed by a multi-skilled team of some of the best events professionals globally.” Al-Taweel said in a statement. 

Al-Taweel also highlighted the company’s role as a trusted partner to government, semi-government, and private sector clients. “We believe that we represent a national choice that executes major global events and constantly works,” she added.

CEO Obada Awad said the company is guided by a strategy rooted in sustainable growth and market responsiveness.

“We also place significant emphasis on sustainable operational improvement and diligent work to develop and launch premium and quality services that add real value to the market,” he said.

TIME Entertainment specializes in producing large-scale live events across sectors such as sports, entertainment, culture, tourism, and conferences. It offers end-to-end production and management services, in addition to creative and consultancy expertise.

The company is also focused on crafting distinctive narratives grounded in Saudi culture and heritage, with the aim of sharing them with global audiences. Its goal is to deliver innovative, artistically rich, and high-quality experiences.

Saudi Arabia’s entertainment sector is rapidly emerging as a key pillar of the Kingdom’s economic diversification agenda. As the country moves away from its traditional reliance on oil, strengthening the entertainment industry is seen as critical to driving growth across multiple sectors.

A recent report by consultancy AlixPartners found that 33 percent of Saudi consumers plan to increase spending on out-of-home entertainment — well above the global average of 19 percent — highlighting strong local demand.


Saudi Arabia, France discuss $2.6bn aviation sector investment potential amid flurry of deals

Saudi Arabia, France discuss $2.6bn aviation sector investment potential amid flurry of deals
Updated 18 June 2025
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Saudi Arabia, France discuss $2.6bn aviation sector investment potential amid flurry of deals

Saudi Arabia, France discuss $2.6bn aviation sector investment potential amid flurry of deals
  • Deals covered strengthening ground support capabilities, localizing technology, and advancing workforce training
  • Saudi firm Cluster2 Airports signed MoU with Airbus to deploy advanced digital solutions

RIYADH: Investment opportunities worth more than SR10 billion ($2.6 billion) were set out at a high-level Saudi-French meeting amid a flurry of deals aimed at strengthening the aviation sector.

Airport infrastructure, air navigation, and advanced technologies were among the areas flagged up as available for investment during a roundtable held on the sidelines of the 55th Paris Air Show.

The agreements signed covered strengthening ground support capabilities, localizing technology, and advancing workforce training, and involved Saudi Ground Services Co., France’s Alvest Group, and Arabian Alvest Equipment Maintenance Co., the Saudi Press Agency reported. 

The deals come as Saudi Arabia and France deepen economic ties, with non-oil trade exceeding SR20 billion ($5.33 billion) in 2024. The relationship was reinforced during President Emmanuel Macron’s December visit, where both sides endorsed a strategic partnership roadmap and signed a memorandum of understanding to establish a Strategic Partnership Council. 

The roundtable was chaired by Abdulaziz bin Abdullah Al-Duailej, president of the General Authority of Civil Aviation, and brought together more than 65 Saudi and French public and private sector entities, including CEOs, aviation safety officials, and specialists across airports, services, and infrastructure. 

“The meeting highlighted the Kingdom’s Vision 2030 objectives to achieve economic diversification, and its keen interest in empowering the private sector and building global industrial partnerships,” the SPA report stated. 

It added: “The meeting also highlighted the National Aviation Strategy and its focus on developing the aviation industry, making it a top priority sector.” 

Saudi Ground Services Co.’s MoU with Alvest Group and Arabian Alvest Equipment Services Co. involves localizing smart, eco-friendly technologies for ground equipment, along with all related maintenance and technical support services. A separate MoU with the same partners was signed to offer training programs and an accredited diploma in technical services and ground equipment maintenance. 

The discussions also explored future challenges in global aviation, emphasizing the need for joint strategic efforts in innovation, sustainability, and infrastructure development. 

Also at the Paris Air Show, Saudi firm Cluster2 Airports signed an MoU with Airbus to deploy advanced digital solutions aimed at improving operational efficiency, security, and integration across all airports under its network.

The partnership includes the introduction of smart technologies such as Airbus’ Agnet Turnaround platform, an advanced system that enables real-time coordination of airport ground operations. 

The latest agreements support the National Aviation Strategy, under which the Kingdom aims to expand capacity to 330 million passengers and 4.5 million tonnes of cargo annually by 2030, connecting to over 250 global destinations.