RIYADH: The fourth meeting of the joint commission between the Kingdom and Azerbaijan held here on Tuesday sought to bolster bilateral cooperation when delegations from both sides exchanged views and information on the current economic situation in respective countries and reviewed the current status of cooperation.
Saudi Arabian General Investment Authority (SAGIA) Gov. Abdullatif Al-Othman, who represented the Saudi side at the joint commission, and Shahin Mustafayev, Azerbaijan’s minister of economy and industry, jointly chaired the session during which the two sides explored strategies to deepen the economic and commercial relationship between the two countries. They noted the religious, cultural and intellectual histories shared by both the countries.
Speaking at the joint commission meeting, Al-Othman said: “I am very pleased to welcome our friends from Azerbaijan as our two countries continue to expand our cooperation in a number of areas, including trade and investment."
He pointed that the input from the private sector and the Organization for Islamic Cooperation (OIC) has given a road-map for increasing the bilateral commercial activity.
"I believe the determination shown from both sides to implement these recommendations heralds a closer and mutually beneficial future for both Azerbaijan and the Kingdom,” he noted.
In an exclusive talk with Arab News, the SAGIA governor said that the meeting was very positive and both sides agreed on the need to increase the volume of bilateral trade exchanges in terms of quantity as well as quality, and work for better coordination in order to facilitate the procedure for the entry of goods and products.
He said: "A very high representation from Azerbaijan came for the joint commission meeting where we discussed specific action plans and key issues of mutual benefits to further bolster cooperation. There is a need for us to take advantage of what our economies offer."
He added: "There are opportunities for us to collaborate in petrochemicals, agriculture, tourism, education, health care and culture. We have a historic relationship with Azerbaijan and the entire central Asian countries," he maintained.
In a reply, he said the joint business council is one of the specific plans in the agenda.
Addressing the joint session, Mustafayev said: “I am very pleased to co-chair this year’s joint committee focused on increasing bilateral exports, strengthening investment channels and removing barriers to further enhance cooperation that help in the creation of a joint working group on oil, gas and mining and enhance joint investments."
He added that the session will build upon the work of the last meeting of the committee where “we made progress on eliminating double taxation and improved the linkages for bilateral investment. Despite starting at a low level, commercial exchanges between our countries have been on the rise, reaching almost $ 400 million to date invested in Azerbaijan by Saudi enterprises. We look forward to strengthening this relationship to build more bridges between the countries of the Islamic world,” he underlined.
Notably, the two sides at this 4th joint commission agreed to organize mutual business forums, exchange of information on exhibitions, conferences and business events in both countries and invite each business community from both the countries in order to help expand trade relations, increase the volume of trade, increase visits between businessmen from the two countries and explore the feasibility and benefits of establishing a Saudi-Azerbaijan joint business council.
Moreover, the two sides noted the importance of the current cooperation level between the security organs of the two countries and agreed on organizing mutual business visits of the heads of the services, and reviewing matters for ensuring security of the big economic projects to be held in the region and international events of OIC countries.
Furthermore, the Saudi Fund for Development (SDF) would like to extend cooperation between Saudi export program and the central bank of Azerbaijani federation for exchange, information and access to credit reports for Azerbaijani banks and companies and with Azerbaijani Chamber of Commerce to introduce the financing facilities provided by the Saudi export program in order to achieve the contribution toward bilateral trade development.
At the conclusion of the meeting, the SAGIA governor and the visiting minister signed the minutes of the joint commission meeting.
Saudi-Azerbaijan Joint Commission seeks to bolster bilateral links
Saudi-Azerbaijan Joint Commission seeks to bolster bilateral links
Saudi entertainment industry set to power economic diversification
- Entertainment sector set to generate 450,000 jobs and contribute 4.2 percent to Kingdom’s GDP by 2030
RIYADH: Saudi Arabia’s growing entertainment sector is set to become a key catalyst for growth across various industries and a central pillar in the Kingdom’s broader economic diversification strategy, according to experts.
Strengthening the industry is vital as Saudi Arabia continues to shift away from its long-standing dependence on oil revenues, aligning with its ambitious efforts to build a more resilient and diversified economy.
The rapid growth of the Kingdom’s entertainment sector is underscored by recent data and forecasts, including a report by AlixPartners which revealed that 33 percent of Saudi consumers plan to increase spending on out-of-home entertainment — significantly higher than the global average of 19 percent.
Supporting this trend, data from the Ministry of Commerce showed that commercial registrations in the Kingdom’s arts and entertainment sector rose by 20 percent in 2024 compared to 2023.
Notably, innovative arts and entertainment activities saw a 30 percent increase, reaching 4,188 registered entities, while amusement park activities grew by 26 percent, totaling 6,108 registrations.
In an interview with Arab News, Shahid Khan, partner and global head of Media, Entertainment, Sports, and Culture at consulting firm Arthur D. Little, highlighted the sector’s potential to generate a ripple effect across hospitality, tourism, and retail, as well as real estate, and technology.
“Major events and attractions are drawing both international and domestic tourists — contributing directly to the Kingdom surpassing its original target of 100 million annual visitors by 2030, an achievement reached seven years ahead of schedule,” said Khan.
Major events and attractions are drawing both international and domestic tourists.
Shahid Khan, partner and global head of Media, Entertainment, Sports, and Culture at consulting firm Arthur D. Little
He added: “This surge in tourism fuels demand for hospitality infrastructure, including hotels, restaurants, and local transport, while extending average visitor stay and spend.” The Arthur D. Little official added that the growth in the entertainment sector could also propel the retail industry, with entertainment-led foot traffic expected to drive commercial activity in malls, high streets, and mixed-use developments.
Guillaume Thibault, partner and head of Sports and Entertainment at Oliver Wyman for India, the Middle East, and Africa, echoed similar sentiments, noting that Saudi Arabia’s entertainment industry will spur growth in adjacent sectors by driving demand for complementary services.
He added that emerging entertainment destinations are helping cities like Riyadh and Jeddah position themselves as lifestyle hubs with the potential to compete on a global scale.
“Large-scale events and festivals drive hotel occupancy and airline bookings, while lifestyle venues anchor foot traffic in malls and high streets. Technology adoption accelerates through the demand for ticketing, crowd management, and immersive experiences,” said Thibault.
He added: “Entertainment is a key downstream activator for mega-events and is intricately intertwined with the urban fabric of these mega events, enhancing the hospitality, tourism, and retail sectors.”
Looking ahead, the Ministry of Investment projects that the entertainment sector could generate 450,000 jobs and contribute 4.2 percent to Saudi Arabia’s GDP by 2030.
Impacts: retail spending, real estate and FDI
Thibault emphasized that Saudi Arabia’s youthful population — most of whom are under the age of 35 — will be a key driver of growth in the Kingdom’s entertainment sector and could significantly boost retail spending.
He noted that for young Saudis, entertainment is not viewed as a seasonal luxury, but rather as a regular and essential part of their spending habits.
“As more venues and formats become available, consumers are reallocating discretionary income from international travel to local entertainment. This ‘localization of lifestyle’ is increasing the frequency and variety of spending, from dining and merchandise to experiential add-ons,” said Thibault.
Khan expressed similar views and added that rising disposable income among people in Saudi Arabia is empowering consumers with the means to pursue experience-rich lifestyles.
“This financial capacity is enabling a broader cultural shift — especially among younger Saudis — toward valuing experiences over possessions, and prioritizing social, live, and recreational activities as a core part of modern living,” he said.
Khan added: “What was once a limited and largely outbound market is now being redirected into the local economy — creating a dynamic, self-sustaining entertainment ecosystem at home.”
Commenting on its impact on the real estate sector, Thibault stated that the entertainment industry is reshaping property demand by revitalizing underutilized land, promoting mixed-use development models, and enhancing the attractiveness and viability of secondary cities.
Thibault further noted that developers are increasingly incorporating dedicated entertainment zones and hybrid residential complexes into their plans, viewing them as key drivers of footfall and community engagement.
“This enhances land value, accelerates absorption rates, and encourages long-term leasing. Moreover, large entertainment projects are contributing to the emergence of new urban centers that align with the Kingdom’s regional development goals,” said Thibault.
Khan pointed out that the entertainment sector has already reshaped the Kingdom’s real estate landscape, both directly and indirectly.
He said that the entertainment boom has contributed to a rise in property values across the Kingdom, especially in areas adjacent to major attractions.
Khan further said that large-scale entertainment destinations — such as those under Qiddiya, Diriyah, AlUla, and others — are also catalyzing new hospitality and retail clusters, creating demand for hotels, serviced apartments, dining spaces, and lifestyle-driven real estate.
“In addition, the rise of cultural and live event venues across second-tier cities and emerging districts is stimulating regional real estate development, encouraging urban sprawl and infrastructure investment beyond the major metropolitan areas,” said Khan.
In terms of the potential of attracting foreign direct investments, Thibault said that the Kingdom’s entertainment sector presents a “rare greenfield” opportunity in a G20 economy, supported by policy backing, untapped demand and significant scale.
“As regulatory clarity improves and exit mechanisms mature, we anticipate a rise in joint ventures, venture capital deployment in entertainment startups, and the entry of global operators, making entertainment a cornerstone of the Kingdom’s FDI narrative,” said the Oliver Wyman official.
Khan said that Saudi Arabia’s sovereign wealth fund is playing a catalytic role — both directly and through its giga-projects and portfolio companies — by investing in and forming strategic partnerships with foreign players across the entertainment spectrum.
He added that the efforts of PIF are facilitating market entry and localization of globally leading companies in key areas such as theme parks, live entertainment, attractions, and hospitality.
Large-scale events and festivals drive hotel occupancy and airline bookings.
Guillaume Thibault, partner and head of Sports and Entertainment at Oliver Wyman for India, the Middle East, and Africa
In September, the PIF launched the National Interactive Entertainment Co. to create immersive storytelling experiences rooted in the Kingdom’s heritage and Islamic history.
The newly established firm, known as QSAS, will focus on developing, owning, and operating world-class interactive exhibitions throughout the Kingdom, the wealth fund said in a statement at that time.
“The entertainment sector is emerging as a key gateway for FDI in Saudi Arabia, underpinned by strong market fundamentals, government-backed infrastructure, and a robust regulatory push aligned with Vision 2030,” said Khan.
In January, Saudi Arabia’s General Entertainment Authority unveiled 29 investment opportunities targeting six key sectors of the industry.
The targeted sectors include facilities, destinations, water parks, adventure parks, virtual reality parks, and e-gaming centers.
Cinema and journey beyond
Speaking to Arab News, Thibault noted that Saudi Arabia has rapidly emerged as one of the fastest-growing cinema markets in the world.
He added that this momentum could pave the way for a new wave of industry growth by encouraging local content creation, supported through public-private co-investment models and enhanced by regulatory incentives for film production and post-production infrastructure.
“Elevating local narratives while attracting international studios can simultaneously boost soft power and develop a self-sustaining film economy,” said Thibault.
Khan echoed similar views and said that Saudi Arabia currently has more than 600 screens and has witnessed a doubling of both ticket sales and box office revenues between 2019 and 2024.
“Expanding cinema access to underserved regions and enhancing operators’ business models — by tapping into diversified revenue streams such as F&B, experiential offerings, and advertising — will be essential for long-term profitability and sector sustainability,” said Khan.
He added: “Additionally, forging international partnerships through co-productions, location incentives, and distribution alliances would further strengthen the overall industry while enabling knowledge transfer and job creation.”
Thibault emphasized that Saudi Arabia should ambitiously expand its entertainment landscape beyond traditional formats such as cinema by investing in immersive, experience-driven offerings.
These include esports arenas, mega-theme parks like those planned in Qiddiya, mixed-reality shows, adventure tourism, and platforms centered around heritage-based storytelling.
Saudi startup Ejari plans to scale as demand grows
- Rent-now, pay-later platform to build full-service real estate ‘super app’
RIYADH: Property tech startup Ejari aims to build a full-service real estate “super app” as it positions itself at the center of Saudi Arabia’s rapidly digitizing housing market with its rent-now, pay-later model.
The company, founded in 2022, is moving beyond flexible rental payments to offer furnishing, maintenance, and relocation services through integrated third-party partnerships.
In an interview with Arab News, CEO Yazeed Al-Shamsi said Ejari’s approach is reshaping the renter experience by offering a streamlined, digital alternative to the country’s traditional leasing system, where tenants are typically required to pay six or 12 months upfront.
Al-Shamsi said the platform is now preparing to widen its offering beyond residential rentals, targeting commercial and industrial leases as part of a broader plan to become a real estate super app.
He told Arab News that the idea for Ejari was sparked by his personal experience as a student in the UK, where he struggled with upfront rental payments demanded by landlords.
“That was the first time I ever struggled with rent,” Al-Shamsi said. “The solution was that an insurance company would come in and guarantee your rent.”
After returning to Saudi Arabia, and facing similar rigid payment structures in the local market, he and his co-founders set out to address the challenge head-on.
Ejari’s core business model centers on leasing properties from landlords in bulk payments, then subleasing them to tenants through installment plans.
“We pivoted six to seven times before landing on our current model, which allows us to lease the property from the landlord with a bulk payment and then lease it back in installments to tenants with a higher price,” Al-Shamsi said.
This structure, he added, creates a win-win dynamic: landlords receive their payments upfront, while tenants benefit from affordable monthly payments.
The plan is to start activating different types of rent on the offices, shops, malls, as well as the industrial sector.
Yazeed Al-Shamsi, Ejari CEO
The platform, which currently operates in 17 cities across eight regions in Saudi Arabia, is part of a growing cohort of startups targeting financial accessibility in the real estate market.
In its first year, Ejari reported generating over $30 million in service demand and has since seen that figure rise above $50 million, all with minimal marketing investment.
“This is off a very modest marketing spend of probably just over a hundred thousand dollars,” Al-Shamsi said.
Despite being in operation for less than two years, Ejari is already seeing strong financial indicators.
“Our revenues are very healthy. Our loan book is very healthy. We’ve grown probably over 10 times between 2023 and 2024,” Al-Shamsi stated, noting further growth early in 2025. Still, he acknowledged the challenges in achieving profitability.
“We’re a long way from profitability, but it is something that we’ve been keeping on top of mind. The current phase is growth.”
Al-Shamsi emphasized Ejari’s differentiated approach compared to traditional financing companies.
“Banks, financing companies — they’re doing 20, 30, 40 things at one time,” he said. “Versus us, where we’re just trying to do one thing. And as soon as we perfect it, we can then start doing other things.”
The vision for Ejari extends well beyond rent facilitation. The company’s long-term strategy is to become a real estate super app, providing a full suite of services throughout the customer lifecycle.
“Today, we’re helping the customer with payment facilitation. The customer moves into the apartment — it’s an empty apartment. We help them furnish it. They live in it. A light bulb goes off — we help them fix it. Tomorrow they want to move — we offer a button they hit, then a team comes and helps them move,” Al-Shamsi explained.
The company aims to enable this ecosystem through partnerships with existing service providers, integrating their offerings into Ejari’s platform.
The company is also expanding its focus to include commercial segments such as offices, shops, malls, and even industrial spaces later this year.
“The plan is to start activating different types of rent in the offices, shops, malls, as well as the industrial sector,” Al-Shamsi said, adding that the company balances growth with operational focus to ensure it doesn’t “have our efforts captured around too many things, then the value of that doesn’t become additive.”
To drive its customer acquisition strategy, Ejari is leveraging real estate marketplaces. Al-Shamsi cited an ongoing partnership with a platform he described as “the local version of Property Finder in Dubai,” which has an 80 percent market share and 3 million unique monthly visitors.
Ejari’s recent $14.65 million seed round reflects growing investor interest in Saudi Arabia’s maturing proptech sector.
Alongside Partners for Growth, BECO Capital, and Alinma Pay, other investors included Rua Ventures, anb seed, Vision Ventures, and Aqar platform.
The round, held in October, comprised both equity and debt, with the latter provided by California-based PFG.
The capital will be used to enhance its core technology platform, scale team capabilities, and expand into value-added services.
Looking ahead, Al-Shamsi said the company’s immediate focus for the first half of 2025 is to deepen market penetration and build internal capacity.
“The focus remains on the current product in a very big way,” he said. “Growing the team, building capabilities, building the technical capabilities that we need to be able to expand to whatever we want to.”
While the company’s default rates remain high — hovering at 13 percent to 15 percent — Al-Shamsi appeared undeterred, stating that this was due to a planned and carefully executed strategy to test the market.
“But again, when we started, we thought that this play would be mainly in the major cities. But surprisingly, the market takes you where it wants to go. We have demands from small villages, small cities in the north and south and east.”
With demand increasing from both urban and rural markets and a substantial seed round now secured, Ejari is preparing to consolidate its position in Saudi Arabia’s evolving rental economy.
Al-Shamsi expects revenue growth to remain strong through 2025, forecasting another significant jump. “I’d say close to that 10 times figure. But maybe 8 or 7 times.”
IMF says Pakistan’s loan ‘fully financed,’ with $6 billion inflows expected next fiscal year
- The global lender releases its country report, acknowledging improvements in Pakistan’s financial position
- IMF says despite the recovery, Pakistan’s growth in the first half of the fiscal year was below expectations
KARACHI: The International Monetary Fund (IMF) said on Saturday Pakistan’s bailout program is “fully financed,” citing nearly $6 billion in external inflows expected in the next fiscal year and renewed commitments from key allies to roll over maturing debt.
The IMF released its country report on Pakistan earlier in the day, offering financial reassurance for the country, which in 2023 was on the verge of default and had to secure emergency funding.
Islamabad had to line up financing guarantees from friendly nations such as Saudi Arabia, the United Arab Emirates and China before the IMF agreed to revive its lending program, a standard condition to ensure the country could meet its external obligations.
Pakistan also secured a $7 billion Extended Fund Facility (EFF) last year after the international lender acknowledged the country’s progress in implementing stringent reforms that led to improved macroeconomic indicators.
“The program is fully financed, with firm commitments for the next 12 months and good prospects for the remainder of the Fund-supported program,” the IMF said in the report.
It added“substantial progress” had been made in realizing financing committed ahead of the EFF request, with $2.6 billion already disbursed or expected to be disbursed in the coming months.
It said these included support from Saudi Arabia, the Islamic Development Bank and a commercial loan backed by a partial guarantee from the Asian Development Bank.
The Fund projected Pakistan would receive around $6 billion in external inflows during the next fiscal year beginning in July.
It added these consist of fresh disbursements from the IMF, oil imports from Saudi Arabia on deferred payment terms, funding from China and other international financial institutions, budget support loans and proceeds from planned bond issuances.
Pakistan also intends to borrow modestly from commercial banks.
“Firm commitments are also in place for an additional $1 billion of financing in the next 12 months,” the IMF said. “Key bilateral partners remain committed to rolling over existing short-term liabilities in the remaining program period.”
The report noted the country’s financial and external conditions had improved, with foreign reserves exceeding program projections and a current account surplus recorded in the first eight months of the ongoing fiscal year.
It said inflation has declined to “historical lows,” although core inflation remains elevated at around 9 percent.
The Fund also noted economic recovery was continuing, but growth in the first half of FY25 was “somewhat lower than anticipated.”
Saudi Arabia awakens to a sleep tech boom as Vision 2030 fuels wellness shift
- Global sleep aids market grew from $59.32 billion in 2023 to $64.15 billion in 2024
RIYADH: Saudi Arabia is poised to emerge as one of the world’s most dynamic sleep technology markets, reflecting the rapid expansion of its fitness sector, an expert told Arab News.
In 2024, Saudi Arabia ranked third globally for the shortest sleep duration, with most Saudis sleeping only 6 to 7 hours per night, according to Mana Al-Shahrani, a consultant in Sleep Medicine at King Fahad Medical City.
This presents a lucrative opening for innovators, as global demand for sleep solutions surges.
The global sleep aids market grew from $59.32 billion in 2023 to $64.15 billion in 2024, and it is expected to continue growing at a compound annual growth rate of 5.98 percent, reaching $89.11 billion by 2030, according to a report by Research and Markets.
Now, companies such as Eight Sleep, a US-based firm which provides an intelligent, fully integrated system that personalizes sleep using real-time biometric data, are eyeing Saudi Arabia as a top future market.
With Vision 2030 pushing a healthier lifestyle agenda, sleep is set to become the next big wellness frontier.
“We believe Saudi Arabia is uniquely positioned to become one of the world’s most dynamic sleep tech markets and Eight Sleep is investing with that long-term vision in mind,” co-Founder and CEO of Eight Sleep, Matteo Franceschetti, told Arab News.
“Even before our official launch, we already have over 100 Pods in active use and a waitlist of more than 500—a strong signal of organic demand and unmet need,” the CEO added.
Saudi Arabia has already demonstrated progress in key quality-of-life indicators, as highlighted in its 2024 Vision 2030 performance report. The Kingdom’s World Happiness Index score held steady at 6.6 in 2024 — surpassing both global and Gulf averages — while life expectancy rose to 78.8 years, ranking 11th among G20 nations, underscoring the government’s focus on well-being, creating fertile ground for sleep tech innovation.
Saudi Arabia as a global sleep tech hub
The sleep technology market in Saudi Arabia is expanding rapidly, valued at $117.4 million in 2023 and projected to reach $243.1 million by 2030 — an 11 percent CAGR.
The broader Middle East and North Africa smart bed market is expected to hit $87.7 million by 2027, according to Franceschetti.
“We view Saudi Arabia — and the wider GCC — as a strategic priority for Eight Sleep, with the region bearing the potential to become our second-largest market globally after the US,” Franceschetti said.
While GCC spending on sleep aids remains modest — $26.42 million in 2025 versus $2.18 billion in the US — growth rates are strong.
“While sleep still lags behind fitness and wearables in terms of total spend, it’s following the same adoption curve. Sleep is underpenetrated, but it’s not underperforming,” Franceschetti noted, adding: “As awareness for sleep as the foundation of long-term health, we expect its share of the wellness wallet to expand dramatically.”
Will sleep become a national priority?
With Vision 2030 promoting wellness, sleep health is gaining attention — but experts say more policy focus is needed.
Diet and exercise are prioritized, but sleep’s impact on diabetes, heart disease, and neurological disorders is still underrecognized, Vikas Kharbanda, partner at Arthur D. Little told Arab News.
“Increasing diabetes, cardiovascular disorders, obesity and even neurological dysfunctions have been linked with sleep-related disorders,” he said, adding: “While there are some efforts underway through publishing registries and statistics on sleep disorder prevalence, significantly more awareness is needed about these linkages and their negative impacts.”
Franceschetti tied sleep to national goals, saying that Vision 2030’s focus on quality of life creates fertile ground for sleep tech. “Saudi Arabia’s greatest opportunity to overcome its national sleep deficit lies in embracing personalized sleep environments tailored to individual needs,” he added.
Late nights, high stress, and rising demand
The CEO further explained that Saudi Arabia has the lowest average sleep score among more than 30 global markets where Eight Sleep is active. “Saudi users also report the latest bedtime and wake time — typically sleeping from 1am to 9am,” he revealed.
The UAE follows closely behind, ranking fourth in sleep deprivation, with users averaging sleep from 12am to 8am.
GCC cities dominate global rankings for the least sleep, with Sharjah, Doha, Jeddah, Abu Dhabi, Riyadh, and Dubai claiming the top six spots for lowest total sleep. Sharjah, Jeddah, and Dubai also recorded the world’s worst sleep performance scores, the CEO said, citing data from US technology company, WHOOP.
Key drivers of the sleepless trend
Multiple factors contribute to this trend, said Franceschetti, adding: “A deeply ingrained late-night culture in the region contributes to disrupted circadian rhythms and reduced recovery.”
Cities like Jeddah, Riyadh, and Sharjah — some of the most sleep-deprived globally — also report high stress levels, indicating a strong link between late night schedules and poor health. Temperature is another major challenge, as Saudi Arabia ranks fifth globally for users seeking to cool their sleep environment.
Franceschetti noted that “managing heat during the night is essential for comfort and uninterrupted sleep.”
He also highlighted lifestyle and environmental stressors, stating: “Ambitious lifestyles, demanding work schedules, and extreme weather conditions further affect residents’ ability to get sufficient quality sleep.”
In the UAE, 40 percent of residents are sleep-deprived, with stress and temperature cited as the top disruptors.
Arthur D. Little’s Kharbanda expanded on cultural influences: “Late-night social activities, religious practices, high caffeine consumption, and excessive blue light exposure from devices all contribute — alongside low physical activity levels.”
Saudi Arabia is actively working through the Sports for All Federation to increase the percentage of physical activity participation to 40 percent of the Kingdom’s population by 2030.
The sleep tech revolution, tracking to intervention
Kharbanda categorized sleep solutions into three types. The first includes monitoring devices such as wearables and apps. “These help users understand sleep patterns and are likely to see the highest demand due to affordability and accessibility,” he explained.
The second category consists of interventional tools like smart mattresses and sleep monitors. “These ensure better sleep quality but face higher cost barriers,” he noted.
The third type covers medical solutions for severe cases, though adoption depends on health care integration. “Of these, monitoring and lifestyle management devices will dominate,” Kharbanda predicted.
As the Kingdom wakes up to sleep’s role in long-term health, the wellness industry is racing to turn this crisis into its next billion-dollar opportunity.
Envoy shares potential of Pakistan freight corridors, ports for regional connectivity at Dubai event
Envoy shares potential of Pakistan freight corridors, ports for regional connectivity at Dubai event
- The Global Logistics Alliance conference brings together over 2,000 industry leaders, experts and potential partners to explore logistics opportunities
- The development comes as Pakistan strives to boost trade, overseas investment amid a gradually healing macroeconomic environment after a prolonged downturn
ISLAMABAD: Pakistan’s Envoy to the United Arab Emirates (UAE) Ambassador Faisal Niaz Tirmizi has underscored Pakistan’s freight corridors, port projects at a global logistics conference in Dubai, saying the South Asian has the potential to become a crucial hub for regional trade, transport and economic cooperation.
Ambassador Tirmizi said this while delivering a keynote address at the 12th Global Logistics Alliance (GLA) conference in Dubai, according to Pakistan’s Press Information Department (PID).
The three-day event, running from May 15 till May 18, has brought together over 2,000 industry leaders, experts and potential partners from 130 countries to network, acquire knowledge and explore opportunities in the logistics sector.
In his speech, Ambassador Tirmizi highlighted Pakistan’s strategic location at the crossroads of South Asia, Central Asia and West Asia as well as the Middle East.
“Pakistan is poised to become a vital corridor of connectivity and cooperation across the region,” he said, lauding the UAE-based firms DP World and AD Ports for their investments in freight corridors and port development projects in Pakistan.
The development comes as Pakistan strives to boost trade and overseas investment amid a gradually healing macroeconomic environment after a prolonged downturn that forced Islamabad to seek external financing from friendly nations and multiple loan programs with the International Monetary Fund (IMF).
The Pakistani government has pursued aggressive economic diplomacy in recent years, signing several agreements and memoranda of understanding with countries in Central Asia and the Middle East.
In her remarks, GLA President Grace Sun emphasized the importance of the event in creating new business synergies and accelerating global logistics collaboration.
On the sidelines of the conference, Ambassador Tirmizi and Sun discussed the potential of organizing a regional networking conference in Pakistan under the GLA framework, with a focus on engagement from South and Central Asian logistics stakeholders, according to the PID.
Ambassador Tirmizi reaffirmed Pakistan’s commitment to working with international partners to develop “smart, efficient, and sustainable logistics infrastructure,” particularly through transformational initiatives like the China-Pakistan Economic Corridor (CPEC).
