Minister highlights growth of Saudi economy as ranking highest among G20 countries

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Al-Hogail said that more than 1,400,000 families benefited from housing support. (AN photo by Abdulrahman Shalhoub)
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Updated 13 February 2023
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Minister highlights growth of Saudi economy as ranking highest among G20 countries

  • Minister of Commerce Majid Al-Qasabi was rounding up some of the most important developments and achievements in the Kingdom over the past year
  • Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail discussed rising home ownership, housing loan facilities, and efforts to tackle the effects of heavy rain

RIYADH: Majid Al-Qasabi, the Saudi minister of commerce, and Majid Al-Hogail, minister of municipal and rural affairs and housing, on Monday reviewed some of the important developments and achievements in the Kingdom during 2022.

Speaking in Riyadh during the latest briefing by the Center for Government Communications, Al-Qasabi said: “Our economy is the highest among G20 countries, and the Kingdom ranked first in terms of ease of starting a business.”

A report by the Organization for Economic Co-operation and Development, published in October last year, stated that Saudi Arabia’s gross domestic product growth was expected to reach 9.9 percent, the highest level among G20 nations.

Al-Qasabi added that the Kingdom is a major contributor to humanitarian aid efforts and had already pledged “more than SR324 million” ($86.4 million) to help those affected by the earthquakes in Syria and Turkiye last week.

Summarizing the achievements of Crown Prince Mohammed bin Salman last year, Al-Qasabi said the prince undertook more than 10 international visits, received visits by 65 leaders, and launched 21 projects and strategies.

Meanwhile, the Kingdom hosted 26 international conferences, 15 international sporting events, and won 94 international scientific awards, he added.

Commenting on the high prices of automobiles, Al-Qasabi said: “There is no truth (to allegations of) limiting the import of cars to authorized agents. There are global challenges in production, shipping and supply chains.”

To prevent possible violations of the rules, he added, the Ministry of Commerce has launched an initiative that tracks new vehicles from their arrival in the country until licenses are issued for them.

He invited anyone aware of any breaches of regulations to file a report by calling 1900, or through official online systems and apps.

Al-Hogail discussed a number of issues including the supply of real estate, housing loan facilities, improvements to the urban landscape, and the effects of heavy rain.

Regarding efforts to provide housing solutions for people most in need, he said: “8,000 families were served through the Ehsan (charitable) platform.”

The ministry provided 30,000 housing units in 2022 for families in greatest need and aims to provide 95,000 by 2025, he added. Home ownership is rising among Saudis, he said, and has reached 60 percent of the population.

“More than 1.4 million families benefited from housing support, and there were also nine different housing and financing options available to enable ownership,” said Al-Hogail, adding that the goal is to offer 365,000 additional housing units by 2025.

He also talked about the effects of the heavy rain the Kingdom has experienced and said: “The budget for drainage and flood-prevention projects is SR16 billion, for projects in all regions of the Kingdom, and SR9 billion for projects in Jeddah Governorate.”


Prince Abdullah bin Faisal bin Turki Al-Saud hails Saudi-Japan ties

Updated 19 May 2025
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Prince Abdullah bin Faisal bin Turki Al-Saud hails Saudi-Japan ties

  • Prince Abdullah highlights investment growth with Japan
  • Praises role of Arab News Japan in boosting cooperation 

TOKYO: In an interview with Arab News Japan, Saudi Arabia’s Prince Abdullah bin Faisal bin Turki Al-Saud has lauded the strong ties between Japan and the Kingdom, and said he was deeply honored to have received a top honor from the Asia nation.

The former governor of the Saudi General Investment Authority received the Grand Cordon of the Order of the Rising Sun last month.

“Receiving the Imperial Award is indeed a great honor. Like many in the Kingdom, including officials and former officials, I hold the Japanese emperor, government and people in the highest regard,” Prince Abdullah said in the recent interview with Arab News Japan. 

Reflecting on his tenure at SAGIA, now the Ministry of Investment, Prince Abdullah highlighted the collective nature of the recognition. 

“The award reflects the work carried out during my tenure at SAGIA ... This recognition is not solely mine, it is a shared achievement with my colleagues.

“More importantly, it reflects the leadership’s ongoing commitment to strengthening relations with Japan,” he said. 

He emphasized the Kingdom’s investment in international cooperation, noting the evolution of SAGIA into a full ministry under the Council of Ministers. 

“The elevation of SAGIA to a full ministry ... highlights the strategic importance the Saudi leadership places on investment and international cooperation,” he added.

During his recent visit to the Expo 2025 Osaka, Kansai, Prince Abdullah shared his impressions of the Saudi Pavilion, which he described as a powerful representation of the Kingdom’s transformation and culture. 

“The Saudi Pavilion was excellent,” he said of the expo which opened on April 13 and ends Oct. 13. 

“I was particularly interested in the design elements of the Saudi Pavilion, how it captured the essence and transformation of our land, and how quickly and effectively the structure was developed.”

He praised the role of the Ministry of Culture and the young Saudis staffing the pavilion.

“The presence of talented young Saudi men and women at the pavilion was especially noteworthy.

“The structure itself, using stones especially brought from the Kingdom, was impressive, with features such as embedded loudspeakers, combining aesthetics and functionality,” he told Arab News Japan.

Prince Abdullah, who previously served as Saudi Arabia’s ambassador to the US, also lauded the Japanese Pavilion, saying it was “outstanding. Their designers, architects, and scientists demonstrated exceptional innovation.”

 “I even recommended our ambassador Dr. Ghazi Binzagr, who began his academic career in physics, to revisit the pavilion, as the advanced technologies on display merit deeper understanding,” he said. 

Turning to the broader significance of Saudi Arabia-Japan relations, Prince Abdullah emphasized the need for robust media and cultural exchange, pointing to Arab News Japan’s role as a valuable bridge between the two nations. 

“First, I would like to commend the efforts behind Arab News Japan. It is an important initiative, both in its content and in the way it delivers information. 

“It serves a valuable audience and contributes meaningfully to deepening understanding between our two countries.” 

He added: “There is deep mutual respect between our peoples. There is great potential for cooperation, especially among small- and medium-sized enterprises on both sides,” he said. 

Praising Japan’s technological innovation and the Kingdom’s transformative development, he said: “What we can realize by our partnership is amazing.” 

Prince Abdullah added that Japan and Saudi Arabia will benefit from increased cooperation, as well as the global economy.


Riyadh hosts a world of jewels

Updated 19 May 2025
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Riyadh hosts a world of jewels

  • Jewelry exhibition showcasing Saudi designers and global luxury pieces dazzles visitors

RIYADH: Under the chandelier-lit halls of Riyadh’s Mandarin Oriental Al-Faisaliah Hotel, the Jewels of the World exhibition gathered more than 60 brands for an eager crowd of jewelry and watch enthusiasts.

The exhibition, which ended on Monday, featured notable global names including Bil Arabi, Yoko London, Scavia and FerriFirenze.

Local talent was also spotlighted, notably Renad Al-Amoudi’s striking Marque Legacy collection, which draws inspiration from the flora of the Saudi deserts, including Ruby Lily and Petit Iris.

Nader Freiha, director and organizer of Jewels of the World, said that the exhibition this year is “the culmination of a journey that began in 2016.”

He added that hosting the event in Riyadh reflects “the remarkable growth of the jewelry market in the Kingdom, which has become a destination for global brands thanks to its discerning clientele.”

The exhibition offers the opportunity to explore new collections debuting in Saudi Arabia, from everyday jewelry to ornate bridal sets, many of which are inspired by global artistic and cultural heritage, Freiha said.

“The exhibition is a benchmark for ensuring both quality and luxury simultaneously,” he added.

Ahmed Al-Shirazi, director of SJC Saudi Arabia, a destination for luxury jewelry, said that the exhibition is an opportunity to strengthen brands and attract new customers through showcasing designs and engaging directly.

The Bahraini jeweler observed a rising inclination among clients to use luxury jewelry as a form of self-expression and personal style, highlighting a heightened appreciation for the finer details in their overall look.

Nezar Mukhtar, a member of the Precious Metals and Gemstones National Committee at the Saudi Chambers Federation, observed visitors’ keen interest in renowned brand names.

“Hosting exhibitions locally spares enthusiasts and designers the hassle of traveling and saves them valuable time,” he said.

Mukhtar added that events like Jewels of the World support the national economy and spotlight the sophisticated taste of Saudi consumers.

“Such an exhibition addresses the expectations of many discerning clients seeking specific quality standards in jewelry,” he said.


Where We Are Going Today: ‘Level Up’ social hub in Riyadh

Updated 19 May 2025
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Where We Are Going Today: ‘Level Up’ social hub in Riyadh

Level Up is a social hub in Riyadh for those seeking entertainment and connection. For just SR60 ($16), visitors gain access to activities ranging from board games and video games to virtual reality experiences.

This multifaceted venue stands out as a gathering place for individuals with shared interests, making it easy to forge new friendships.

One of the highlights at Level Up is its open mic nights, where local bands showcase their talents. This not only provides entertainment but also fosters a sense of community among those attending.

The friendly vibe welcomes both extroverts and introverts, making it a space where people can comfortably engage in conversation or simply enjoy the performances.

The hub also sells PlayStation 5 consoles and accessories, catering to gaming enthusiasts, as well as a range of anime and video game action figures for those into pop culture.

One of the items on the menu I enjoyed was the iced matcha, which is popular among patrons.

While visiting with a friend, I was captivated by the talented musicians at the open mic event, followed by an engaging session of board games.

Level Up hosts discussions every Tuesday, featuring industry leaders such as marketing heads, board members, talent acquisition directors, CEOs, and founders.

These events provide opportunities to learn from and engage with influential figures, helping to enrich the community experience.

Whether you are looking to socialize, enjoy live music, or dive into gaming, Level Up is well worth a visit.


Saudi deputy FM receives Turkmenistan’s ambassador in Riyadh

Updated 19 May 2025
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Saudi deputy FM receives Turkmenistan’s ambassador in Riyadh

Saudi Arabia’s Deputy Minister of Foreign Affairs for Economic and Development Affairs Abdullah bin Zarah received Oraz Mohammed Charif, Turkmenistan’s ambassador to the Kingdom, in Riyadh.

During the meeting, they reviewed economic issues of common interest, the foreign ministry said in a post on X on Monday.

Meanwhile, Saudi Foreign Minister Prince Faisal bin Farhan received a phone call from Austrian Foreign Minister Beate Meinl-Reisinger during which they reviewed bilateral relations and regional and international developments


Project management forum highlights AI’s growing impact on industry

Updated 19 May 2025
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Project management forum highlights AI’s growing impact on industry

  • Ali Al-Khabouri: AI will help the project managers to predict some of these situations that can happen based on the existing information and historical patterns
  • Al-Khabouri: AI tools will evolve in a way that they will provide us the information that we need to depend on for making decisions

RIYADH: Industry leaders and innovators discussed the role of artificial intelligence in advancing project management during the final day of the Global Project Management Forum in Riyadh on Monday.

Speaking on the sidelines of the forum, which has Arab News as a media partner, Ali Al-Khabouri, co-founder of Matrix Oman, told Arab News that AI is playing an increasingly important role in supporting decision-making in project management.

“AI will help the project managers to predict some of the information, predict some of these situations that can happen based on the existing information and historical patterns,” he said.

Al-Khabouri also discussed the importance of defining a clear strategy for AI adoption, adding that organizations should evaluate whether adopting AI is a value-adding step or simply a response to market trends.

During a panel discussion titled “The Future of Project Management: Leadership, Innovation and Strategic Integration of People, Process and Technology,” Marko Golob, head of IT PMO at SIJ d.d., highlighted the need for education in project management.

“We have a gap of 30 million project (managers) in the board in the next 10 years — 30 million. It’s a lot.”

Al-Khabouri highlighted the evolving role of artificial intelligence in improving decision-making within project environments.

He said: “AI tools will evolve in a way that they will provide us the information that we need to depend on for making decisions.”

He added that while the essence of decision-making remains constant, the tools, processes and organizational mindset supporting it are evolving in response to technological advancement.

Imad Al-Sadeq, transformation delivery partner at EY MENA, discussed the growing concern of over-reliance on artificial intelligence in project management.

“The risk here (is) that some people, including project managers, will over rely on (AI). Some people will mistrust the human side for the sake of AI,” he said.

Al-Sadeq added that this trend is already emerging in some settings, and he highlighted the need to strike a balance between technology and human insight.

“We still need to keep the human at center, keep the trust with the human judgment. Otherwise, we are not only calling for best effect, but we are calling only for best practice or previous work. And this is a big difference,” he added.