Saudi nationals make up 70% of Red Sea Global workforce: top official

Red Sea Global Group Chief Financial Officer Martin Greenslade speaks at the PIF’s Private Sector Forum in Riyadh on Thursday.
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Updated 13 February 2025
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Saudi nationals make up 70% of Red Sea Global workforce: top official

RIYADH: Saudi Arabia’s multi-project developer Red Sea Global currently employs 70 percent of its workforce from the local population, according to the firm’s group chief financial officer.

Speaking at the PIF’s Private Sector Forum in Riyadh on Feb.13, Martin Greenslade said that the Kingdom’s leisure tourism industry witnessed substantial growth in recent years, as the country welcomed 17.5 million tourists in 2024, representing a rise of 656 percent compared to 2019.

These developments align with Saudi Arabia’s National Tourism Strategy, which aims to attract 150 million tourists by the end of this decade.

“In our company, we are around 70 percent Saudis. When it comes to the hotels and the workforce, that is something we are scaling rapidly by providing opportunities to as many people as we can,” said Greenslade.

He added: “Saudi Arabia is witnessing a massively growing environment of leisure tourism. Over the last five years, leisure tourists increased in Saudi Arabia by over 600 percent, 17.5 million visitors a year, just for leisure tourism. If we add all the other tourists, we are well over 100 million. So, we are on a sweet spot of growth.”

Regarding the number of visitors to the Red Sea, Greenslade revealed that the figures are still in the thousands as hotels are currently under development, adding that they will grow significantly in the coming years.

He added that 92 percent of visitors to the Red Sea are from the Gulf Cooperation Council region, with the majority being Saudi citizens.

“Right now, we only have these few hotels opened, and they have a very limited number of keys. So, the number of tourists is in the thousands. And they have largely come from the Gulf Cooperation Council. So, there have been some challenges with international tourism; the events in Gaza are challenging. But we are putting on more international flights,” said Greenslade.

He added that Shura Island, which falls within the Red Sea, will see the opening of 11 hotels in 2025, while seven hotels will be opened in AMAALA this year.

During the talk, the Red Sea official added that the company has paid over $20 billion in contracts to suppliers, and around 70 percent of that has gone to Saudi-based organizations.

Greenslade said about the potential spending in 2025: “I do not want to give the exact amount this year, but we are spending billions of dollars a year on developing this destination. Some of those are funded through debt financing and some of those from the PIF.”

Greenslade added that developing the residential side of the Red Sea is very important, as it is one of the best ways to attract private investments.

He highlighted that individuals wishing to consider the Red Sea a second home can also buy a residential unit.

“When you finish the visit to Red Sea, you feel so sad to leave, and if you never want to leave, you can buy your own residence,” said Greenslade.

He mentioned that tourists visiting the Red Sea will have an unforgettable experience.

“If you want to go to somewhere truly breathtaking, somewhere iconic, somewhere very different from anywhere else on earth, you book a ticket to the Red Sea. You would fly and land at the brand-new airport. The airport in the Red Sea has a runway large enough to take any plane,” said Greenslade.

He added: “Tourists visiting the Red Sea will get an electric vehicle to reach the seaplane terminal or boat where they will be guided to an island. These islands are incredible, the corals are fantastic, the snorkeling is amazing.”

The official further said that the company is eyeing to plant 50 million mangroves in the Red Sea project, aimed at ensuring sustainability.

He also highlighted that resorts in the Red Sea are fully powered using solar energy, and the same initiative will also be taken in AMAALA.

“We want to redefine how tourism interacts with the environment. We call it regenerative tourism. Mangroves are very important. We are looking to plant and preserve around 50 million mangroves. Mangroves are extremely important to coastal protection and for the wildlife that settles in and around it,” said Greenslade.

He added: “We are aiming to increase biodiversity by 30 percent. So, we have got an enormous nursery, a million sq. feet building, one of the largest nurseries in the world. We will see some 30 million plants go through there.”


Maersk, Panattoni, JD Property sign major deals with Saudi entities at Munich logistics expo 

Updated 14 sec ago
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Maersk, Panattoni, JD Property sign major deals with Saudi entities at Munich logistics expo 

RIYADH: Global supply chain players including Maersk, Panattoni, and JD Property signed agreements with Saudi entities at Transport Logistic 2025, underscoring the Kingdom’s emergence as a key player in the sector.

The deals — involving partnerships with firms such as GFS Express, Hefei Logistics Group, Scan Global, and Koppern — were unveiled as part of Saudi Arabia’s expansive presence at the trade fair, held in Munich, Germany.

Led by the National Industrial Development and Logistics Program and Invest Saudi, the Kingdom’s pavilion brought together 22 key government and private sector stakeholders.

Saudi Arabia has emerged as a central hub in the global logistics sector, with its market valued at $136.3 billion in 2024. It is also projected to grow at an annual rate of 6.5 percent, reaching $198.9 billion by 2030, according to Eurogroup Consulting. 

“From hosting tech giants like Apple and iHerb in smart hubs to launching our national car Ceer, Saudi Arabia is becoming an industrial and automotive powerhouse,” said Suliman Al-Mazroua, CEO of NIDLP, according to a post on the organization’s official X account. 

He added: “This isn’t just our story, it’s an invitation to dreamers and innovators. The future is happening now.” 

Speaking at the three-day event that started on June 3, Al-Mazroua highlighted Saudi Arabia’s economic diversification success.  

“For the first time in our history, non-oil activities contribute 55 percent of Saudi Arabia’s gross domestic product. This isn’t a future target, it’s today’s reality,” he said. 

Key deals signed 

The first day of the exhibition witnessed the signing of several strategic agreements aimed at strengthening Saudi Arabia’s logistics capabilities and fostering international cooperation. 

Among the key deals, GFS Express and Hefei Logistics Group inked a memorandum of understanding to enhance logistics collaboration and develop innovative supply chain solutions. 

SAL partnered with GCL to create specialized logistics solutions for the entertainment, sports, and arts sectors. 

MODON and JD Property agreed to work on advanced logistics infrastructure and the localization of tech solutions, while JTM, Silk Mile, and Assaat formed an investment partnership to establish a logistics joint venture in the Kingdom. 

MODON signed an MoU with US-based Panattoni to develop a logistics project in Jeddah, boosting supply chain efficiency. 

Further agreements included SPL, Scan Global, and Maersk collaborating to enhance air freight, delivery solutions, and digital logistics infrastructure, as well as NIDLP partnering with Germany’s Koppern to explore the localization of roller press systems and compaction machines. 

The Saudi pavilion attracted strong interest from global investors, industry leaders, and technology partners as it highlighted the Kingdom’s achievements in transport, logistics, and industrial development.

These developments align with Saudi Vision 2030 goals to position the country as a leading global logistics hub connecting three continents. 

The event featured six specialized workshops covering infrastructure, digital transformation, and human capital development. A key session, “It’s Happening: Saudi Logistics Now,” emphasized the Kingdom’s logistics transformation through public-private partnerships.  

Saudi Arabia continued to demonstrate its commitment to becoming a top-tier logistics and industrial destination, attracting global investors and innovators to join its growth journey. 


Manufacturing, mining sectors drive Saudi industrial growth to 3.1%: GASTAT

Updated 26 min 46 sec ago
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Manufacturing, mining sectors drive Saudi industrial growth to 3.1%: GASTAT

  • Kingdom’s IPI advanced to 108.6 in April, representing a 0.6% rise
  • Sub-index of manufacturing activities advanced by 7.4%

RIYADH: Saudi Arabia’s Industrial Production Index expanded by 3.1 percent year on year in April, driven by strong growth in the manufacturing, mining, and quarrying industries, official data showed. 

According to preliminary data from the General Authority for Statistics, the Kingdom’s IPI advanced to 108.6 in April, representing a 0.6 percent rise compared to the previous month. 

The latest IPI figures reinforce the progress of Saudi Arabia’s economic diversification journey, which aims to reduce the Kingdom’s decades-long dependence on crude revenues. 

“Preliminary results indicated a 3.1 percent increase in the IPI in April 2025 compared to the same month of the previous year, supported by the rise in mining and quarrying activity, manufacturing activity and water supply, sewerage and waste management and remediation activities,” the analysis stated.

GASTAT revealed that the sub-index of manufacturing activities advanced by 7.4 percent in April compared to the same month in 2024. 

The authority added that the index of oil activities saw an annual rise of 4.3 percent in the fourth month of the year, while non-oil activities edged up by 0.1 percent. Compared with March, oil activities rose by 1.6 percent, whereas non-oil activities declined by 2 percent.

GASTAT added that the growth in the manufacturing sector was driven by an increase in the production of coke and refined petroleum products, which grew by 22.6 percent year on year in April. 

The chemical manufacturing sector also contributed to the rise, increasing 9.1 percent annually. 

On a monthly basis, the sub-index of manufacturing activity witnessed a rise of 0.5 percent, driven by a 5.8 percent increase in the production of coke and refined petroleum products. 

The expansion of the manufacturing sector highlights the evolving structural transformation of the Saudi economy, with the Kingdom positioning itself as a key player in the global industrial landscape. 

In April, the sub-index of mining and quarrying activities increased by 0.2 percent compared to the same month in 2024. 

“Saudi Arabia increased its oil production to 9.01 million barrels per day in April 2025 compared to 8.99 million barrels per day in April 2024,” said GASTAT. 

On a monthly basis, the sub-index of mining and quarrying activity increased by 0.5 percent in April. 

According to the report, the electricity, gas, steam, and air conditioning supply sector registered an annual decrease of 0.2 percent but saw a monthly rise of 4.3 percent. 

GASTAT further said that water supply, sewerage, and waste management activities increased by 8.8 percent year on year in April, while it declined by 0.7 percent compared to the previous month. 

Compared to March, the index for oil activities increased by 1.6 percent in April, while non-oil activities dropped by 2 percent. 

The Industrial Production Index measures changes in industrial output based on the International Standard Industrial Classification framework, covering mining, manufacturing, utilities, and waste management sectors.


Strategic reforms and cultural depth are driving Uzbekistan’s tourism boom, says official 

Updated 10 June 2025
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Strategic reforms and cultural depth are driving Uzbekistan’s tourism boom, says official 

TASHKENT: As Uzbekistan undergoes an economic transformation, tourism has emerged as both a cultural ambassador and a powerful growth engine.

At the forefront is Umid Rustamovich Shadiyev, chairman of the Tourism Committee under the Ministry of Ecology. 

Formerly Uzbekistan’s Permanent Representative to UNESCO, Shadiyev brings both diplomatic experience and a deep understanding of the nation’s rich heritage. 

Arab News spoke with Shadiyev during the Tashkent International Investment Forum 2025, a flagship platform bringing together global investors, policymakers, and innovators to explore Uzbekistan’s investment landscape. 

Now in its fourth edition, the forum has become a cornerstone of the country’s reform agenda, highlighting strategic sectors such as energy, infrastructure, agriculture, and tourism. 

This year’s event welcomed over 2,500 delegates from 70 countries, with tourism receiving special focus as a driver of inclusive and sustainable development. 

Saudi-Uzbek tourism ties deepen 

The conversation turned to Saudi Arabia, where tourism is undergoing a historic transformation under Vision 2030. Shadiyev praised the Kingdom’s diversification efforts, calling it “a new center of global tourism.” 

Uzbekistan sees an opportunity for synergy, and a memorandum of cooperation in tourism was signed in 2022, followed by joint forums and high-level meetings in 2023 and 2024. 

“Our relationship with Saudi Arabia is growing stronger each year,” said the official. 

The results are visible. Saudi tourist arrivals in Uzbekistan rose from 1,731 in 2022 to over 4,100 in 2024, reflecting growing interest in cultural, gastronomic, and mountain tourism. 

“There’s huge potential in developing family-oriented tours, heritage trails, and collaborative media campaigns,” Shadiyev noted.

Tourism university exchanges, journalist visits, and influencer collaborations are also being explored. 

In 2025, Uzbekistan is emphasizing sustainable tourism and aims to increase the average stay of foreign visitors to 10 to 12 days. Strategic partnerships — such as with Saudi Arabia — are seen as central to achieving this goal. 

Tourism emerges as economic pillar 

“Tourism is currently one of the key sectors of Uzbekistan’s economy,” Shadiyev noted. “In 2024, we saw a significant leap forward: the export of tourism services increased by 1.6 times, reaching $3.5 billion.”  

This performance is backed by a rise in entrepreneurship, with more than 2,000 new tourism businesses launched in the past year alone. From boutique hotels to eco-lodges and cultural tour operators, a new generation of investors is responding to supportive government policies and the sector’s strong profitability. 

The transformation is evident across the country. Over the past eight years, Uzbekistan has attracted $6.5 billion in tourism-related investments and added 130,000 new hotel beds. 

“These achievements reflect our commitment to building a world-class tourism ecosystem,” Shadiyev said. 

A major milestone came in April, when over 1 million foreign tourists visited Uzbekistan in a single month — a national record. 

Shadiyev attributes this growth to visa policy reforms, infrastructure upgrades, and active global engagement. “We’re not only opening our doors wider; we’re creating lasting experiences for visitors,” he said. 

Looking ahead, Uzbekistan aims to further increase both international arrivals and tourism export volumes in 2025. The government is systematically working toward these goals by investing in digital transformation, human capital, and diversified tourism offerings. 

Four seasons, one destination 

Positioned at the crossroads of the Great Silk Road, Uzbekistan has long served as a bridge between East and West. Shadiyev highlighted the country’s unique geographic and cultural positioning: “We’re the heart of Central Asia — no regional tour is complete without including Uzbekistan.”  

What makes Uzbekistan truly special, he said, is its year-round appeal. In spring, visitors celebrate Navruz, the festival of renewal, and explore blooming gardens, vibrant bazaars, and the historic cities of Tashkent, Samarkand, Bukhara, and Khiva.

Summer brings tourists to mountain resorts and natural lakes, rich fruit harvests, and traditional crafts festivals. 

Winter offers skiing and tranquil nature retreats, while autumn is ideal for cultural immersion and warm Uzbek hospitality.

“Every season offers a new story, a new flavor,” Shadiyev said.  

The country’s legacy is underscored by its many UNESCO World Heritage Sites, including Samarkand, Bukhara, and Khiva. Uzbekistan is also witnessing a boom in niche tourism markets, including ziyarat, or pilgrimage tourism, ecotourism, domestic travel, and culinary tours. 

Uzbekistan’s rise on the global travel radar is also backed by international accolades.

The country was named the Most Desirable Emerging Destination by Wanderlust, UK; won the tourism in the CIS award from Russian Traveler; and was featured among the Top 25 Destinations of 2025 by both BBC Travel and The New York Times.  

Gulf travelers drawn to shared culture 

When asked about Uzbekistan’s appeal to Arab travelers, particularly from the Gulf region, Shadiyev emphasized deep-rooted cultural and spiritual ties. 

“Our shared Islamic heritage and atmosphere of religious respect make Uzbekistan especially attractive to Gulf visitors,” he said. 

Khiva’s designation as the 2024 Tourism Capital of the Organization of Islamic Cooperation reflects this connection. 

Other key events include the Economic Cooperation Organization’s tourism forum in Shakhrisabz, which spotlighted opportunities in religious and cultural travel. 

Uzbekistan is enhancing its appeal through substance and strategy. 

A 30-day visa-free regime now applies to citizens of Saudi Arabia, the UAE, and Qatar, as well as those of Oman, Bahrain, and Kuwait.

Direct flights from Gulf capitals are expanding, and tour operators are curating experiences tailored to Arab travelers. 

The country offers a rich mix of gastronomy — including signature dishes like plov, manti, and shurpa — as well as ethno-tourism experiences in traditional villages, and a vibrant calendar of music, art, and food festivals.

Uzbekistan is also rolling out a UN tourism platform and a unified tourist card integrating visa services, tickets, and discounts. 

“We’re not just promoting Uzbekistan; we’re building a seamless visitor experience,” Shadiyev added. 

Vision rooted in heritage and openness 

As the interview concluded, Shadiyev returned to a theme central to Uzbekistan’s tourism push: openness. “We are a country that welcomes the world — with history in our stones and hospitality in our hearts,” he said. 

The Tashkent International Investment Forum served as the perfect setting for this conversation, reflecting Uzbekistan’s economic momentum and its growing network of global partnerships — none more vibrant than those flourishing through tourism. 

As Shadiyev put it, quoting an old proverb: “It’s better to see something once than hear about it a hundred times.”


Oil Updates — prices rise as US-China talks counter OPEC supply worries

Updated 10 June 2025
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Oil Updates — prices rise as US-China talks counter OPEC supply worries

SINGAPORE: Oil prices climbed on Tuesday as investors awaited the outcome of US-China talks that could pave the way for easing trade tensions and improve fuel demand.

Brent crude futures rose 22 cents, or 0.3 percent, to $67.26 a barrel by 09:45 a.m. Saudi time. US West Texas Intermediate crude was up 18 cents, or 0.3 percent, at $65.47.

On Monday, Brent had risen to $67.19, the highest since April 28, buoyed by the prospect of a US-China trade deal.

US-China trade talks were set to continue for a second day in London as top officials aimed to ease tensions that have expanded from tariffs to rare earth curbs, risking global supply chain disruptions and slower growth.

Prices have recovered as demand concerns have faded with the trade talks between Washington and Beijing and a favourable US jobs report, while there are risks to North American supply due to wildfires in Canada, Goldman Sachs analysts said.

US President Donald Trump said on Monday that the talks with China were going well and he was “only getting good reports” from his team in London.

A trade deal between the US and China could support the global economic outlook and boost demand for commodities including oil.

Elsewhere, Iran said it would soon hand a counter-proposal for a nuclear deal to the US in response to a US offer that Tehran deems “unacceptable,” while Trump made clear that the two sides remained at odds over whether the country would be allowed to continue enriching uranium on Iranian soil.

Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries and any easing of US sanctions on Iran would allow it to export more oil, weighing on global crude prices.

Meanwhile, a Reuters survey found that OPEC oil output rose in May, although the increase was limited as Iraq pumped below target to compensate for earlier overproduction and Saudi Arabia and the UAE made smaller hikes than allowed.

OPEC+, which pumps about half of the world’s oil and includes OPEC members and allies such as Russia, is accelerating its plan to unwind its most recent layer of output cuts.

“The prospect of further hikes in OPEC supply continues to hang over the market,” Daniel Hynes, senior commodity strategist at ANZ, said in a note.

“A permanent shift to a market driven strategy (in OPEC) would push the oil market into a sizeable surplus in H2 2025 and almost surely lead to lower oil prices.”


UAE shares end higher as outcome of US-China trade talks awaited

Updated 09 June 2025
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UAE shares end higher as outcome of US-China trade talks awaited

LONDON: Stock markets in the UAE ended higher on Monday, in step with Asian peers, as investors awaited the outcome of US-China trade talks in London in the hope that a deal could boost the global economic outlook.

Top US and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two super powers that has widened to export controls over goods and components critical to global supply chains.

Dubai’s benchmark index hit its highest levels since 2008 and settled up 1 percent, with almost all sectors in positive territory.

Tolls operator Salik Company gained 2.3 percent and Deyaar Development surged 14.6 percent.

In Abu Dhabi, the index was up for a third straight session and gained 0.1 percent, lifted by a 1.6 percent rise in blue-chip developer Aldar Properties and a 1.8 percent advance in Abu Dhabi’s flagship energy firm Abu Dhabi National Energy Company.

Most stock markets in the Gulf and Egypt including Saudi, Qatar, Kuwait are closed on Monday due to a public holiday.