RIYADH: The US invested more than SR207 billion ($55 billion) in the Kingdom up until February 2018, according to the Saudi Arabian General Investment Authority (SAGIA).
The number of investing companies reached 373 in fields such as services, industry, real-estate, science, arts, and temporary licenses.
Industrial activity had the biggest share of financing with SR193 billion ($51 billion) distributed on 95 different projects. Service activity was financed with SR13.5 billion ($3 billion) distributed on 245 projects. Trade activity was financed with more than SR300 million ($79 million) distributed on nine projects. Two real-estate projects were financed with SR16 million ($4 million) and 16 temporary licenses’ projects were financed with SR2 million ($0.5 million.)
Sixteen new American companies entered the Saudi market in 2017, with SR382 million ($101 million) invested as SAGIA gave the green light to start activities in the Kingdom. The service sector had the biggest share of these licenses, with 13 licenses and an investment of SR 284 million ($155 million). The industrial sector was granted two licenses of an investment that reached SR97 million ($25 million) and the temporary licenses’ sector was financed with SR500,000 ($133,000).
The Saudi sector is one of the US’s biggest importing markets. In 2016, the Kingdom provided the US market with a number of products including mineral, chemical and organic products, fertilizers, aluminum and plastics. From the US, the Kingdom imported cars and their parts, aerial vehicles and their parts, medical, optical and photographic equipment, machine tools and their parts and electronic devices and their parts.
The numbers are a result of the reforms in the Saudi investment environment, in line with the Kingdom’s Vision 2030, while the reforms are a result of national efforts to promote trade and investment activities in the Kingdom. The executive committee was established to improve and promote performance in the private sector to follow up and implement a number of initiatives contributing to economic growth and providing a stable environment for the private sector, with the participation of relevant governmental, private and international bodies.
The Kingdom of Saudi Arabia and the US have good economic ties that go back many decades and are bound by mutual respect and common interests. These relations were established on Feb. 23, 1930, and consolidated in 1931 when the US first started importing Saudi oil, and when the late King Abdulaziz bin Abdul Rahman granted American companies the right to prospect for oil.
In 1932, the two sides signed the temporary commercial diplomatic agreement that was followed by an oil exploration agreement.
In 1972, the Kingdom imported from the US a number of goods and products with a value of $314 million and exported other goods to the US with a value of $194 million.
In 1974, the Kingdom signed a joint report with the US, to establish a Saudi-American joint committee for economic cooperation to meet the needs of the country (products and expertise) at a time when Saudi Arabia was witnessing a big increase in growth and development projects.
SAGIA: US investment in Saudi Arabia worth over $55bn
SAGIA: US investment in Saudi Arabia worth over $55bn
New community initiative brings Saudi artisans together for ‘Year of Handicrafts’
- Workshops held for aspiring artisans and crafters
- Events will be held throughout the year
RIYADH: The Royal Institute for Traditional Arts launched a new community initiative on Saturday with a packed day of workshops and discussions with inspiring figures in the handicrafts field.
As 2025 kicks off with the Ministry of Culture labeling it the “Year of Handicrafts,” TRITA aims to bring a sense of camaraderie to artisans and aspiring crafters with its “Wrth Community,” which will host several events through the year.
Nermeen Al-Naimi, an artisan at TRITA, told Arab News: “Today, the community of Wrth started, so that’s very good for artisans because we are looking for somewhere we can belong.
“Wrth is the place we belong now with this community, it’s more like a second house for us because we exchange experiences, we exchange techniques and tools and stuff like that. It’s a growing kind of family, so we’re happy that they made this step today, and we’re grateful.”
(AN photos by Abdulrhman Bin Shalhoub)
The six-hour event brought artisans at various levels and from various crafts together for a day of engagement through workshops on traditional crafting with wood, metals, clay, and stones.
Silversmiths Ayat Dhahi and Revan Abdulsabour shared their expertise on sculpting and formation, from design to implementation, while others, such as sculptor Helwa Al-Atawi, shared success stories of turning a passion into a career.
Jewelry designer Rughad Al-Hogail weighed in with her entrepreneurial experience of taking local crafts to international markets.
Al-Naimi is an instructor for jewelry manufacture and design, but came to the inaugural Wrth event as a student, signing up for a wood-carving workshop that allows participants to identify the types of traditional engravings in the Najd region, and producing a wooden coaster using the technique with a copper inlay.
“I decided to go back to wood because I did clay before, and I did metals before, so I wanted to incorporate wood in my designs …
“It has metal in it, so, the experience was amazing because I use metal combined with wood, combined with a little bit of this technique.”
Other workshops explored traditional engraving methods, their use in the manufacture of innovative products, and employing traditional engravings in contemporary art.
Al-Naimi works as a personal branding consultant, and part of her job is to help individuals realize their hopes and connect with ways to energize themselves.
“One of the things that makes me happy is working with my hands. So working with metal, with wood, it’s all a stress relief. Plus you make something beautiful.”
Al-Naimi joined TRITA about two years ago, working with metals, but quickly found that it was more than just a space to create.
“Here at the Royal Institute, it’s support all the way — for the trainers, for the products; they have an online store now,” she said. Here students’ creations are up for sale at the physical location and online, creating profitable opportunities for aspiring and established artisans.
Wrth Community aims to lead the revival and development handicrafts, linking them to modern design and technology, enhancing the participation of institutions and the local community to highlight the importance of traditional arts in defining cultural identity, while also equipping people with ways to create traditional arts in today’s market.
Wrth Community provides opportunities for artisans to meet, exchange knowledge and enhance personal and professional skills with a focus on education, crafts, entrepreneurship, and dialogue sessions. By creating a supportive environment, TRITA hopes to stimulate talent and creative individuals to learn and practice traditional arts and crafts.
TRITA is a pioneering organization that highlights the national identity and enriches Saudi traditional arts locally and globally, promoting them and recognizing pioneers in the fields of traditional arts. This contributes to the preservation of traditional arts by supporting national capabilities and talents while encouraging those interested in learning, mastering and developing them.
KSrelief and UNHCR officials discuss enhanced humanitarian support in Syria
- An estimated 6.8 million Syrians remain displaced within the country, while more than 5.5 million have sought refuge in neighboring countries
DAMASCUS: Officials from the King Salman Humanitarian Aid and Relief Center and the UN High Commissioner for Refugees met in Damascus on Sunday to discuss coordinated efforts to assist the Syrian people, the Saudi Press Agency reported.
The meeting, focused on bolstering humanitarian and relief operations in the region, was attended by Abdullah bin Saleh Al-Harees, charge d’affaires of the Saudi Embassy in Syria.
During the discussions, UNHCR officials praised their strategic partnership with KSrelief, highlighting the importance of their joint initiatives to support refugees and displaced persons in Syria.
Both parties also reiterated their commitment to ensuring that vulnerable populations have access to essential resources and services to live with dignity.
The humanitarian crisis in Syria remains one of the most pressing in the world, especially after the fall of Bashar Assad’s regime in December of last year, following over a decade of civil war.
Assad’s ouster came after years of intensified international sanctions and a lightning offensive across key cities by opposition militias, culminating in his government’s collapse.
An estimated 6.8 million Syrians remain displaced within the country, while more than 5.5 million have sought refuge in neighboring countries such as Turkiye, Lebanon, and Jordan.
Humanitarian organizations like KSrelief and UNHCR play a crucial role in addressing these challenges, providing essential aid such as food, shelter, and medical care.
In Syria, UNHCR has been a critical player in responding to the humanitarian crisis, assisting the millions of displaced Syrians and advocating for sustainable solutions to their plight. Its collaboration with partners such as KSrelief has been key to addressing the evolving needs of those affected by the conflict.
Saudi minister receives British ambassador to Riyadh
- They discussed bilateral relations and various topics of common interest
RIYADH: Saudi Arabia’s Deputy Minister for Political Affairs Saud Al-Sati received UK Ambassador to the Kingdom Neil Crompton in Riyadh on Sunday.
During the meeting, they discussed bilateral relations and various topics of common interest, the Foreign Ministry wrote on X.
Meanwhile, Pakistan’s Ambassador to the Kingdom Ahmed Farooq signed the condolence book honoring the life and legacy of former US President Jimmy Carter, the Embassy of Pakistan wrote on X on Sunday.
Saudi leadership congratulates Kuwait on success of 26th Gulf Cup
- The 26th Arabian Gulf Cup ended on Saturday with Bahrain defeating Oman 2-1 in the final in Kuwait City
RIYADH: Saudi Arabia’s King Salman sent a cable of congratulations to the emir of Kuwait for his country’s success in organizing the 26th Arabian Gulf Cup, Saudi Press Agency reported on Sunday.
The 26th Arabian Gulf Cup ended on Saturday with Bahrain defeating Oman 2-1 in the final in Kuwait City.
Saudi Crown Prince Mohammed bin Salman sent similar cables of congratulations to Sheikh Meshal Al-Ahmad Al-Sabah and Kuwaiti Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah, wishing the country continued progress and prosperity.
Saudi Arabia gifts 100 tonnes of dates to Pakistan
- Saudi Ambassador to Pakistan Nawaf Al-Malki presented the gift to the Pakistani side on behalf of KSrelief
RIYADH: Saudi aid agency KSrelief has delivered 100 tonnes of dates as a gift from the Kingdom to Pakistan.
Saudi Ambassador to Pakistan Nawaf Al-Malki presented the gift to the Pakistani side on behalf of KSrelief at the Saudi Embassy in Islamabad, the Saudi Press Agency reported.
Al-Malki thanked King Salman and Crown Prince Mohammed bin Salman for their humanitarian efforts and support to countries worldwide.
The director general of the military wing of Pakistan’s Cabinet Division, Brig. Alamgeer Ayub, also expressed thanks and appreciation to Saudi Arabia for the gift.
He said that it reflects the deep and enduring fraternal ties between the two countries.
Ayub highlighted that the Kingdom has consistently supported the Pakistani people during times of crisis.
