Your guide to be top Saudi brands with global impact

Updated 27 March 2018
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Your guide to be top Saudi brands with global impact

JEDDAH: The main aim of Saudi Vision 2030, an ambitious plan unveiled by Crown Prince Mohammed bin Salman, is to diversify the economy of Saudi Arabia and to do away with the Kingdom’s reliance on oil income.
Since the beginning of the program, the government has taken major steps to achieve the primary goal of economic diversification. Steps are being taken to develop other sectors like health, tourism, entertainment and sports.
Many Saudi companies are globally known for their quality and high standards. They are undoubtedly major global brands. Following is some information on those established brands:

Saudi Aramco
A Saudi-owned petroleum and natural gas company and the second biggest in the world, previously known as the Arabian-American Oil Company until a royal decree changed its name in 1988.
Aramco was founded in 1933 as California-Arabian Standard Oil Company (CASOC) after an agreement between the Saudi government and Standard Oil of California (SoCal) for the latter to explore for oil in the Kingdom.
In 1950, Aramco began to share 50 percent of its profits with Saudi Arabia, till the Saudi government took hold of it in 1980, acquiring full control of the company and its stocks.
The company operates more than a hundred oil and gas fields, including the biggest onshore and offshore fields in the world, Ghawar and Safaniya. Its headquarters are situated in Dhahran in the Kingdom’s Eastern Province but it operates in several cities such as Jeddah, Yanbu and Rabigh.
On March 24, 2018, Aramco signed an agreement with the Massachusetts Institute of Technology (MIT) for sustainable development in the energy sector during the crown prince’s ongoing visit to the US.

SABIC
Saudi Basic Industries Corp. is a Saudi chemical manufacturing company. It is considered one of the largest chemical-producing companies worldwide, which deals in petrochemicals, agri-nutrients, metals and polymers. It operates in more than 50 countries and has a workforce of 35,000 employees globally.
SABIC was founded in 1976 by a royal decree to turn oil products into chemicals, fertilizers and polymers of use.
In 2002, SABIC Europe began its operations after acquiring a petrochemicals Dutch company called DSM.
On March 24, 2018, SABIC signed an agreement with MIT in Boston on pyrolysis research in natural gas during the crown prince’s US visit.

Maaden
It is the largest mining company in Saudi Arabia specializing in base metal and mineral resources. Formed by a royal decree in 1997, it has led to the development of the mineral sector and facilitation of railways and ports through which the company could export its goods to the market.
Maaden became a full-fledged Saudi company until 2008 when it sold 50 percent of its shares on the Saudi Stock Exchange otherwise known as Tadawul.
With its headquarters based in Riyadh, it has a number of subsidiaries in gold, aluminum, phosphate, industrial minerals, infrastructure, and magnesite, zinc and copper projects operating in other Saudi cities such as Jeddah, Madinah and Ras Al-Khair, an industrial city on the eastern coast.


SAMI
Saudi Arabian Military Industries (SAMI) is a Saudi-owned military industries company based in Riyadh and founded in May 2017 to supply military services and products and diminish Saudi Arabia’s dependence on foreign military products.
SAMI aims to contribute to the Saudi economy through the production of military products and raising employment rates.
SAMI is a supporting component of Vision 2030, aiming to localize the military industry and decrease foreign procurement by developing diverse technologies and products. It focuses on manufacturing and repairing aircraft as well as unmanned and military vehicles, ammunition for weapons and missiles, cyber systems and radars to battle electronic and cyber warfare.

General Entertainment Authority
A by-product of Vision 2030, the General Entertainment Authority (GEA) was formed through a royal decree by King Salman on May 7, 2016.
The inception of the GEA aims to build and expand the country’s entertainment sector.
It also contributes to the local economy by bringing foreign investors into the country, supports small- and medium-sized enterprises and creates work opportunities on a wider scale in the entertainment sector.
One of its notable accomplishments so far was the introduction of the global entertainment convention Comic Con, which took place for the first time in the Kingdom in February 2017.
It has since brought in numerous artists, Hollywood stars and international musicians in a wave that has altered the entertainment scene in the region.

General Sports Authority
Formerly known as the General Presidency of Youth Welfare and founded by late King Faisal’s royal decree in 1974, the General Sports Authority (GSA) was restructured in 2016 with a new vision that administers society’s participation in more physical activities, developing the sports industry and increasing facilities. It has also been including women in its development plans, appointing Princess Reema bint Bandar as vice president of women’s affairs in 2016 and introducing physical education classes to girls public school curriculum.
In its efforts to combine sports with entertainment, the GSA signed an agreement with TBS to bring the Japanese Takeshi’s Castle to the Kingdom by the end of 2018, as well as an agreement with WWE to instigate wrestling competitions in Saudi Arabia for the next 10 years.


Emir of Kuwait sends King Salman GCC Summit letter

Updated 27 November 2024
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Emir of Kuwait sends King Salman GCC Summit letter

  • Message delivered to minister during meeting in Riyadh

RIYADH: King Salman has received a letter from the Emir of Kuwait Sheikh Meshal Al-Ahmad Al-Sabah inviting him to the Gulf Cooperation Council Summit.

The message was delivered to Minister of State Prince Turki bin Mohammed bin Fahd during a meeting in Riyadh on Tuesday with Kuwait’s Foreign Minister Abdullah Ali Al-Yahya.

The two sides held cordial talks and discussed issues of common interest.

The 45th GCC Summit takes place in Kuwait on Sunday.


King Salman asks people of Saudi Arabia to pray on Thursday for rain

Updated 27 November 2024
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King Salman asks people of Saudi Arabia to pray on Thursday for rain

RIYADH: King Salman called on Muslims in Saudi Arabia to pray on Thursday for rain, the Saudi Press Agency reported.

“Everyone who is able should be keen to perform the prayer, in accordance with the tradition of Prophet Muhammad,” the Royal Court said.

Muslims are often asked to pray for rainfall in times of drought or other water shortages.


Global Harmony event concludes with celebration of Egyptian culture in Riyadh

Updated 26 November 2024
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Global Harmony event concludes with celebration of Egyptian culture in Riyadh

  • Saudi Arabia and Egypt continue to strengthen their political relationship through agreements in trade, tourism, energy and culture

RIYADH: The Global Harmony initiative concludes its third edition with a week-long celebration of Egyptian music, art and tradition in Suwaidi Park as part of Riyadh Season.

Running from Nov. 24-30 and organized by the Ministry of Media, the event invites visitors to experience Egypt’s rich heritage through a range of cultural activities.

Speaking to Arab News, Egyptian Ambassador to Saudi Arabia Tarek El-Meligy highlighted the deep-rooted connection between the two nations. “The Egyptian community is the most harmonious, coexistent and understanding in a positive way within Saudi society,” he said.

“If you ask any Egyptian which country they would like to live in after Egypt, they will say Saudi Arabia.”

The Egyptian ambassador to Saudi Arabia visits the Egyptian festival at Riyadh’s Suwaidi Park, held as part of the Global Harmony initiative on Nov. 24, 2024. (AN photo by Huda Bashatah)

Sarry Shaaban, an executive and consultant at the General Entertainment Authority, said: “We are talking about millions of visitors, both residents and Saudis, entering the park. Whether I’m a resident, a Saudi or from a country hosting the event, it provides an opportunity for residents to learn about your culture, colors, explore its arts, food, crafts, and traditional industries.”

Live music and dance performances displaying Egypt’s cultural traditions, with the rhythm of drums and flutes and performers in traditional costumes, have brought the life and spirit of Cairo’s streets to Riyadh.

A separate bazaar area has been set up featuring Egyptian cuisine, traditional clothing and handcrafted items.

Performers showcase traditional Egyptian folk costumes and dances during celebrations at Riyadh’s Suwaidi Park, part of the Global Harmony Initiative, on Nov. 24, 2024. (AN photo by Huda Bashatah)

“An event like this carries positive messages and highlights something we strive to emphasize every day, that we are one people, united by love and affection,” said El-Meligy.

Egyptian Sameh Nabil emphasized the feel of unity: “This initiative brought us closer together as Egyptians, and with Saudis here, I feel like we are brothers. I always feel like we are not expatriates.”

And visitor Khaled Zahir said: “This event reflects the love, connection and affection between Egyptians living in the Kingdom and Saudis.”

Performers in Egyptian attire take part in a parade at Riyadh’s Suwaidi Park, celebrating Egyptian culture as part of the Global Harmony initiative on Nov. 24, 2024. (AN photo by Huda Bashatah)

Egyptians make up 11 percent of Saudi Arabia’s population, according to the Saudi Census, meaning such exhibitions are important in promoting mutual respect and harmony.

El-Meligy said Saudi Arabia hosted the largest Egyptian expatriate community abroad, with remittances from those in the Kingdom forming a significant part of their home nation’s income.

“In recent months, remittances from Egyptians abroad have increased substantially, thanks to the facilities between the two countries and the confidence in both the Saudi and Egyptian economies,” he added.

Performers in Egyptian attire take part in a parade at Riyadh’s Suwaidi Park, celebrating Egyptian culture as part of the Global Harmony initiative on Nov. 24, 2024. (Photo/@RiyadhSeason)

Saudi Arabia and Egypt continue to strengthen their political relationship through agreements in trade, tourism, energy and culture. In his October visit to Cairo, Saudi Crown Prince Mohammed bin Salman met with Egyptian President Abdel Fattah El-Sisi to discuss investment opportunities and the establishment of a supreme coordination council to deepen bilateral relations.

Trade between Saudi Arabia and Egypt saw a 35.16 percent annual increase in the first half of 2024, according to the General Authority of Statistics. The increase was driven by a 73.44 percent surge in Saudi imports from Egypt, totaling $4.18 billion.

Egypt has also shown a growing interest in investing in Saudi Arabia, with a 71 percent rise in licenses granted to Egyptian firms in the second quarter of 2024.

The festival, which began in October, highlights the lives, contributions and cultural integration of its residents. So far, it has celebrated cultures including Indian heritage and moving through Philippine, Indonesian, Pakistani, Yemeni, Sudanese, Bangladeshi, Jordanian, Lebanese and Syrian traditions.

 


Riyadh Expo 2030 provides progress update to international exhibitions regulator BIE

The General Director of the Expo 2030 Riyadh Support Office, Abdulaziz Alghannam, speaks at the 175th general assembly meeting.
Updated 26 November 2024
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Riyadh Expo 2030 provides progress update to international exhibitions regulator BIE

  • Members of Riyadh Expo 2030 update Bureau International des Expositions on progress toward hosting the event

RIYADH: A Saudi delegation representing Riyadh Expo 2030 took part in a Bureau International des Expositions meeting on Tuesday to review the Kingdom’s readiness to host the global event.

In November 2023, Saudi Arabia won the bid to host the 2030 World Expo between October 2030 and March 2031 in the capital, Riyadh.

The Riyadh Expo 2030 delegation took part in the 175th general assembly meeting of the BIE, a Paris-based intergovernmental organization which oversees and regulates World Expos, the Saudi Press Agency reported.

They updated senior officials of the BIE about the latest Saudi developments and preparations for hosting the event. They also discussed progress on work to accommodate an expected 246 exhibitors, including countries, organizations and companies, at a site north of Riyadh.

Under the theme “The Era of Change: Together for a Foresighted Tomorrow,” the event aims to be a unique platform for innovations and modern technologies which aim to find answers to challenges facing the planet in various fields, according to the Expo 2030 website.


Hospitality sector innovations, trends showcased at Riyadh exhibition

Updated 26 November 2024
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Hospitality sector innovations, trends showcased at Riyadh exhibition

  • Event gathers local and international exhibitors, industry leaders, and visitors to showcase trends, innovations, and business opportunities in the sector
  • Exhibition features an array of engaging activities, including live cooking demonstrations by celebrity chefs, a barista competition, and workshops for aspiring culinary professionals

RIYADH: This year’s HORECA exhibition held in Riyadh is underscoring the Kingdom’s growing influence in the global hospitality market.

Held at the Riyadh International Convention and Exhibition Center, the three-day event concludes on Nov. 27 and gathers local and international exhibitors, industry leaders, and visitors to showcase trends, innovations, and business opportunities in the sector.

The event contributes to Saudi Arabia’s Vision 2030 by fostering private-sector growth, promoting tourism, and enhancing the country’s food and beverage industries.

The exhibition features an array of engaging activities, including live cooking demonstrations by celebrity chefs, a barista competition, and workshops for aspiring culinary professionals.

Visitors can sample creative dishes, observe new techniques in food and beverage, and explore sustainable packaging solutions, among other highlights.

Prince Waleed bin Nasser, guest of honor and CEO of Mukatafa Co., highlighted the importance of collaboration between the private and public sectors.

Speaking at a session on public policies impacting the food and beverage sector, he said: “The vision today aspires for the private sector to play a significant role in the development of the economy. The private sector must take the initiative to have a voice. To achieve this, it needs to be organized and united in presenting a single perspective.”

He also emphasized the need for proactive engagement: “We must work as one, united with a common vision, and present this vision in a professional manner backed by facts, ensuring that the decisions made have a positive impact on the sector and the citizens.”

Culinary competitions are among the highlights celebrating creativity and technical skills at HORECA. Mohammed Naif, a participant representing Saudi Arabia’s Hotel and Tourism Management Institute, told Arab News: “The atmosphere was amazing, and the competition was all about passion and enjoyment. There was a panel of judges and organizers who were very supportive — if you made a mistake, they would help you, and if you had an incomplete idea, they would guide you.

“I encourage anyone with a passion for cooking to join, showcase their creativity, and learn while bringing out their best.”

The exhibition also provided a platform for networking, with exhibitors showcasing local innovations as well as international brands. From cutting-edge hospitality tech to Saudi-inspired culinary creations, the event highlighted the Kingdom’s growing reputation as a global hub for the sector.