INTERVIEW: Naif Al-Rasheed, CEO of newly inaugurated Events Investments Fund

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Updated 18 January 2023
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INTERVIEW: Naif Al-Rasheed, CEO of newly inaugurated Events Investments Fund

  • Saudi Arabia’s Crown Prince Mohammed bin Salman announced the official launch of the Events Investment Fund (EIF) on Tuesday

RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman announced the official launch of the Events Investment Fund (EIF) on Tuesday, a fund that aims to develop a sustainable infrastructure for the culture, tourism, entertainment, and sports sectors across the Kingdom.

Arab News interviewed its chief executive officer, Naif Al-Rasheed.




EIF chief executive officer, Naif Al-Rasheed

What is the Events Investment Fund and its mission?

Established by Royal Decree No. (A/91) in 2019, EIF aims to elevate the events industry in the Kingdom and build cutting-edge sustainable venues to host world-class events in the culture, entertainment, tourism and sports sectors. 

The fund will be capitalized to develop 35 unique world class venues across the Kingdom, to facilitate the successful delivery for the ambitious national events calendar. EIF will further raise capital by providing high-return opportunities and facilitate fruitful partnerships with the private sector.

In addition to its role in realizing the economic goals of Vision 2030, EIF will be at the forefront of driving wide-reaching social benefits by enriching the quality of life of citizens, residents and visitors.

EIF’s venues will include indoor arenas, art galleries, theaters and conference centers, horse-racing tracks and motor racing tracks.

What is the immediate focus for EIF?

In a nutshell? Well, we came together to position the industry of the Kingdom on the world stage. EIF will support the development of new cultural, tourism, entertainment and sports venues across different cities in the Kingdom. 

How is EIF aligned with the Kingdom’s Sustainability agenda within the events industry?

Aligned with the Kingdom’s sustainability agenda and the vision of our leaders, the fund is committed to upholding the highest environmental, social, and governance (ESG) standards. EIF’s strategy is focused on three main pillars, which include enhancing its environment, invigorating societies, and maintaining strong governance.

This will be amplified across our operations, venues and strategies.

What is the opportunity for the local community?

Our vision – aligned with that of Vision 2030 – is to enhance quality of life and enrich the lives of Saudi citizens, residents, and visitors alike, we aim to become the Kingdom’s events infrastructure powerhouse for the entertainment, tourism, culture and sports sector. To do that, EIF will support the development of cultural, tourism, entertainment and sports venues across the Kingdom. 

Today, EIF will develop world class venues across multiple cities in the Kingdom and as a result of this new ecosystem, created by EIF, around160 thousand direct and indirect jobs will be created.

Our goal is to create a growing long-term sustainable infrastructure events industry in the Kingdom, and I’m sure that our local investors will share the same goals, that will benefit the glowing future of the Kingdom.  

What will be the key outcomes of EIF by the end of the decade?

I will tell you that EIF will develop world class assets across multiple cities in the Kingdom, which includes the development of new cultural, tourism, entertainment and sports venues. With bigger venues, world class services, greater organization, and meticulous foresight, there is no limit to how much the Saudi events sector will grow and build unique experience for the citizens, residents and visitors alike, we see a bright and promising future for our beloved kingdom. 

Adding to everything I have mentioned earlier, EIF will contribute 28 billion SAR to the Saudi economy by 2045. 

What areas of Vision 2030 does it support?

A lot, and I’m quite sure all this will develop over the next years, today, I can tell you that EIF is contributing to Vision 2030’s aim of a vibrant society enjoyed by all through the development of new cultural, tourism, entertainment, and sports venues.

As the Kingdom aims to attract 100 million domestic and international visits a year by 2030 making it one of the world’s top 5 most visited destinations, our vision is to enhance quality of life and enrich the lives of Saudi citizens, residents, and visitors alike

Allow me to zoom out and shed the light on two important factors here, the industry and the people perspective, from an industry point of view EIF will support the development of new cultural, tourism, entertainment, and sports venues. Tourism is a huge opportunity and EIF plays an important role in this ecosystem. 

From a people perspective, that means enhancing quality of life and enriching the lives of Saudi citizens, residents, and visitors alike

What is the opportunity for the local community?

As EIF is establishing a unique and new ecosystem, it will in return open new job opportunities, enhance the industry and drive the success of the Kingdom’s outstanding offerings when comes to the quality of lives of Saudi citizens, residents, and visitors alike.   

As a result of this new ecosystem, EIF will support in shaping and building the careers of over 160 thousand job seekers directly and indirectly.


Saudi Arabia’s linguistic landscape has a blending of Arabic and English without diluting identity

Updated 16 July 2025
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Saudi Arabia’s linguistic landscape has a blending of Arabic and English without diluting identity

  • Expert tells Arab News that ‘multi-dimensional issue’ deserves recognition

RIYADH: In Saudi Arabia’s increasingly globalized society, especially among young people in major cities, there is an easy blending of languages, often switching between Arabic and English in the same conversation.

This phenomenon, known as code-switching, has become a linguistic norm that reflects shifting social dynamics, culture and identity.

A 2024 study conducted by Kais Sultan Mousa Alowidha at Jouf University found that bilingual Saudis often switch between Arabic and English depending on the context, particularly in casual or professional settings.

The blending of languages can be seen not as a dilution of heritage, but a reflection of its outward-looking generation. (Supplied)

Saudi students who have studied or grown up abroad find themselves flipping between languages almost unconsciously.

Abdullah Almuayyad, a Saudi senior at the University of Washington, Seattle, who has spent more than half his life in the US, spoke to Arab News about his experiences with both languages.

“Comfort really depends on context,” he said. “Day-to-day I’m equally at ease in either language, but the setting matters.”

HIGHLIGHTS

• The King Salman Global Academy for Arabic Language in Riyadh has launched several initiatives to strengthen Arabic fluency, both for native speakers and non-native learners.

• A 2024 study from Jouf University found that bilingual Saudis often switch between Arabic and English depending on the context, particularly in casual or professional settings.

In business settings, he defaults to English because of his education and professional exposure, but casual or family settings feel more natural in Arabic.

“Sometimes my friends tease me because I’ll begin a sentence in Arabic, hit a complex business concept, and flip to English mid-stream.”

This mental switching, he explained, is often tied to topic-specific language associations.

Some topics are assigned to a specific language in his brain. “Once the topic surfaces, the corresponding language follows automatically.”

At an institutional level, efforts to preserve and promote Arabic are gaining traction in Saudi Arabia.

The King Salman Global Academy for Arabic Language in Riyadh has launched several initiatives to strengthen Arabic fluency, both for native speakers and non-native learners.

Through academic partnerships, digital tools, and training programs, the academy is playing a key role in ensuring Arabic remains a vibrant and accessible language.

The institute reflects a broader national push to reinforce cultural identity amid the linguistic shifts brought on by globalization.

Majd Tohme, senior linguist at SURV Linguistics in Riyadh, told Arab News that code-switching is “a very multi-dimensional issue.”

He emphasized that the debate should not hinge on whether code-switching is good or bad.

“What we need to ask ourselves is, does code-switching work in the everyday context? And if it works, isn’t that the purpose of any linguistic pattern?”

He added that language purism might miss the point entirely.

“You don’t have to get involved in that language puritanism … and code-switching is not really something new. Languages are living organisms that evolve,” he explained.

Many words we consider native today, he noted, have foreign origins, such as from Persian or European languages, particularly in science and technology.

Still, there are concerns about the erosion of Arabic. Tohme acknowledged the threat but said it is not exclusive to Arabic.

“It is a threat to all languages,” he said, especially in the era of globalized communication where the internet has become a shared space dominated by English.

“You now have one internet that the world is sharing,” he explained. “It’s like one huge playground where you have 8 billion people trying to communicate with each other.”

And yet, there are signs of balance.

Almuayyad, for instance, actively challenges himself and his peers to preserve Arabic fluency.

“In eighth grade, even though my friends and I preferred English, we agreed to speak only Arabic until it felt natural,” he said. “Later, when my Arabic caught up, I switched and spoke only English with friends who wanted practice.”

For many, especially in Saudi Arabia’s larger cities, bilingualism no longer means choosing between one language over the other.

The constant nudge to challenge each other keeps both languages active and growing.

The Jouf University study found that bilingual Saudis strongly identify with both languages and do not believe that speaking English negates their cultural identity.

It also concluded that code-switching is often required in larger cities due to the abundance of non-Arabic speakers in public and professional environments.

Therefore, code-switching, especially in the Kingdom, appears to be less about identity loss and more about functionality.

As Saudi Arabia opens up globally and embraces multiculturalism under Vision 2030, this blending of languages could be seen not as a dilution of heritage, but a reflection of its outward-looking generation.

According to Tohme, the psychological impact of going abroad for a few years then returning to your home country also cannot be understated.

Students develop a certain nostalgia for home while spending so many years abroad speaking extensively in a foreign language. They may develop the determination to make a conscious effort to strengthen their Arabic-language skills again.

Almuayyad is someone who can relate to that and says if he had spent his whole life in the Kingdom, his language development might not have been that different.

“I see a lot of people in Saudi who use English freely because global media and online content are so dominant,” he explained.

Yet, he admits that growing up in one place can limit the push to step outside of your linguistic comfort zone. “My exposure to two cultures forced me to practice that stretch constantly.”

 


Saudi deputy FM meets European Commissioner in Brussels

Waleed Elkhereiji (L) and Dubravka Suica in Brussels. (Supplied)
Updated 15 July 2025
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Saudi deputy FM meets European Commissioner in Brussels

  • The two sides discussed ways to enhance cooperation in various fields and other topics of common interest

BRUSSELS: Saudi Deputy Minister of Foreign Affairs Waleed Elkhereiji met European Commissioner for the Mediterranean Dubravka Suica in Brussels on Tuesday.

The two sides discussed ways to enhance cooperation in various fields and other topics of common interest, the Foreign Ministry said on X.

Haifa Al-Jadea, head of the Kingdom’s mission to the EU, was among the officials in attendance.

 


Saudi Arabia satisfied with Syrian measures to achieve stability after clashes

Syrian security forces take a position in the Mazraa area, near Sweida on July 14, 2025. (AFP)
Updated 15 July 2025
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Saudi Arabia satisfied with Syrian measures to achieve stability after clashes

  • Kingdom condemned continued Israeli attacks on Syrian territory, interference in its internal affairs, and the destabilization of its security and stability

RIYADH: Saudi Arabia expressed its satisfaction with measures taken by the Syrian government to achieve security and stability, maintain civil peace, and achieve sovereignty over all Syrian territory on Tuesday.

The Kingdom also condemned continued Israeli attacks on Syrian territory, interference in its internal affairs, and the destabilization of its security and stability, in flagrant violation of international law and the Syria-Israel Disengagement Agreement signed in 1974.

The condemnation comes after Israel launched strikes on Tuesday against Syrian government forces in the Druze-majority region of Sweida, saying it was acting to protect the religious minority.

Damascus had deployed troops to Sweida after clashes between Druze fighters and Bedouin tribes killed more than 100 people.

Israel announced its strikes shortly after Syria’s defense minister declared a ceasefire in Sweida city, with government forces having entered the city in the morning.

The Kingdom renewed its call on the international community to stand by Syria, support it during this stage, and confront ongoing Israeli attacks and violations against Syria, Saudi Press Agency reported.


KSrelief distributes food baskets to displaced people in Lebanon, Sudan and Afghanistan

Updated 15 July 2025
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KSrelief distributes food baskets to displaced people in Lebanon, Sudan and Afghanistan

  • The aid agency distributed 120 food baskets to Afghan refugees who returned from Pakistan and settled in Omari camp near the Torkham border crossing
  • Over the past decade, KSrelief has run thousands of humanitarian initiatives in nearly 92 countries

RIYADH: The Saudi aid agency KSrelief has distributed hundreds of food baskets to families in need in Sudan, Lebanon, and Afghanistan as part of ongoing efforts to alleviate the food security crisis in various countries.

KSrelief announced that 4,250 individuals will benefit from 700 food baskets distributed to displaced families affected by the armed conflict in Sudan, specifically in Al-Kamalin district of Gezira state.

In Afghanistan, the aid agency distributed 120 food baskets to Afghan refugees who returned from Pakistan and settled in Omari camp near the Torkham border crossing. At least 720 Afghans benefited from food baskets as part of a dedicated security and emergency project in Afghanistan for the 2025-2026 period.

Approximately 2,785 displaced Syrians living in Lebanon have received 577 food baskets from KSrelief volunteers in the western Beqaa Valley. This initiative is part of a project aimed at distributing food aid to support the most needy families in Lebanon, which has been significantly impacted by drought this summer.

Over the past decade, KSrelief has run thousands of humanitarian initiatives in 92 countries. Since its establishment in 2015, the aid agency has distributed food baskets to numerous countries, including Somalia, Mali, Bangladesh, Libya, and Palestine, among others.


Diriyah Dates Season celebrates sector’s growth and heritage

Updated 15 July 2025
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Diriyah Dates Season celebrates sector’s growth and heritage

  • Governor praises initiatives as exports hit $453m, production tops 1.9m tonnes
  • Ministry of Culture is also represented with a booth showcasing artisans specializing in palm-based crafts as part of the Year of Handicrafts

RIYADH: Diriyah Gov. Prince Fahd bin Saad bin Abdullah has praised the Ministry of Environment, Water and Agriculture for developing the date production sector in the Kingdom and enhancing the quality of dates as a national product.

He highlighted the ministry’s support programs for farmers and initiatives that add value to dates, aligning with Vision 2030 goals, the Saudi Press Agency reported.

His remarks came during the inauguration of the Diriyah Dates Season and accompanying exhibition, which runs until July 24.

The event, organized by the National Center for Palms and Dates, aims to boost the sale of Saudi dates locally and globally, and provide an insight into Diriyah’s heritage through cultural and social activities.

The exhibition features booths for date vendors, processed date products, palm by-products and items from family-run cottage industries. It also has restaurants, cafes, food trucks, workshops for adults and children, a date auction zone and a horse parade.

The Ministry of Culture is also represented with a booth showcasing artisans specializing in palm-based crafts as part of the Year of Handicrafts.

The Kingdom’s palm and date sector is growing rapidly. According to figures from the General Authority for Statistics production surpassed 1.9 million tonnes in 2024, with SR1.7 billion ($453 million) worth of dates exported to 133 countries, up significantly from the previous year.

This growth reflects the Kingdom’s strong production capacity and government efforts to improve quality, expand global outreach and develop supply chains.