UK-Gulf deals create 4,000 new jobs, raise UK living standards, Starmer says

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During Keir Starmer’s visit to Saudi Arabia, officials from the two countries outlined plans to boost economic relations and investment during a high-level business roundtable held in Riyadh. (SPA)
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Updated 10 December 2024
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UK-Gulf deals create 4,000 new jobs, raise UK living standards, Starmer says

  • ‘Now is the time for further investment into our country,’ says Starmer

RIYADH: Recent British deals with Saudi Arabia and the UAE have created 4,000 new jobs in Britain and are part of UK Prime Minister Keir Starmer’s plans to raise living standards, he said during a recent visit to Riyadh.

Starmer was received by Crown Prince Mohammed bin Salman at Al-Yamamah Palace in the Saudi capital this week, where discussions centered on enhancing bilateral cooperation in areas of mutual economic interest.

“The UAE and Saudi Arabia are key partners of ours. So I’ve been making the case that now is the time for further investment into our country, as far as Saudi Arabia is concerned,” Starmer told local press.




Saudi Arabia and the UK outlined plans to boost economic relations and investment during a high-level business roundtable held in Riyadh. (SPA)

“For example, some of the deals we’ve done in the last few weeks have yielded 4,000 jobs, and so I’m here driving growth with the sole intention of making sure that when I say living standards will go up in the UK, people will feel better off that we’ve got the plan to follow through and deliver on that, with acts, with investment around the world.”

The visit included a high-profile business roundtable on Monday featuring Saudi Minister of Investment Khalid Al-Falih, Minister of Commerce Majid Al-Kassabi, Saudi Ambassador to the UK Prince Khalid bin Sultan, and Starmer.
 
Trade and investment: Key drivers

Trade between the UK and Saudi Arabia has seen robust growth in recent years, with bilateral trade valued at £14 billion annually. The UK is a key exporter to the Kingdom, supplying machinery, vehicles and pharmaceuticals, while Saudi Arabia exports crude oil, petrochemical products and significant investments in non-oil sectors.

FASTFACTS

• The Kingdom has been actively fostering global partnerships, as reflected in its agreements with the UK.

• Sectors such as green energy, digital transformation and healthcare innovation are seen as crucial for the next phase of bilateral economic engagement.

Recent discussions placed a particular emphasis on diversifying this trade relationship. Sectors such as green energy, digital transformation and health care innovation are seen as crucial for the next phase of bilateral economic engagement.




The growing Saudi-UK trade relationship is fostering collaborations in education and training. (SPA)

Saudi Arabia’s investments in its ICT sector, projected to reach $37.5 billion by 2024, present significant opportunities for British firms.

“The Kingdom’s investment in ICT is a clear signal of its ambitions. For UK technology firms, this is a market of immense opportunity,” said Sarah Walker, CEO of ZainTECH UK, in a previous interview with Arab News.

Renewable energy at the forefront

A cornerstone of the Saudi-UK partnership lies in renewable energy. Saudi Arabia has emerged as a global leader in clean energy, particularly in green hydrogen, where it aims to become a dominant producer.

James Penlington, CEO of London-based Renewable Edge, told Arab News previously: “Saudi Arabia’s investments in green hydrogen are unmatched globally. As a UK company, we are keen to contribute our expertise to support the Kingdom’s sustainability goals.”

The Kingdom’s focus on renewable energy is in line with its Vision 2030 target of generating 50 percent of its electricity from renewable sources by the end of the decade. This ambitious goal has attracted significant interest from UK firms specializing in solar, wind and hydrogen technologies.
 
Expanding educational and training partnerships

The growing Saudi-UK trade relationship is also fostering collaborations in education and training.

British universities and institutions are increasingly playing a role in developing Saudi Arabia’s workforce, particularly in high-tech fields such as artificial intelligence, robotics and health care.

These partnerships are critical to Vision 2030’s goal of building a skilled and diversified workforce.

“Educational collaboration is an area where UK institutions can bring real value,” Lucy Harper, managing director of Tech Frontier UK, told Arab News on Tuesday.

“With Saudi Arabia focusing on human capital development, we are seeing opportunities to engage in programs that drive innovation and prepare the workforce for future challenges.”
 
Building on Vision 2030 success

Since the launch of Vision 2030 in 2016, Saudi Arabia has achieved significant progress in economic diversification.

According to official data, 87 percent of its 1,064 initiatives are either completed or on track, demonstrating the Kingdom’s dedication to transforming its economy and creating new opportunities for international investors.

This progress has positioned Saudi Arabia as a key destination for foreign investment.

The Kingdom has been actively fostering global partnerships, as reflected in its agreements with the UK. For example, trade between Saudi Arabia and the UK reached £17.2 billion in 2022, marking a 68 percent increase compared to the previous year.

With Saudi Arabia advancing its Vision 2030 reforms and the UK pursuing new trade partnerships post-Brexit, the bilateral relationship has continued to strengthen.

The focus on renewable energy and technology aligns with Saudi sustainability goals, while UK businesses have benefitted from opportunities in the Saudi Arabia’s $37.5 billion ICT market.

These agreements signal a clear commitment to innovation and sustainable economic growth.

 


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.