Nonprofit organization in Riyadh funnels billions into extending healthy human lifespan

RIYADH: The influence Saudi women increasingly are having on global culture, policies, investment and innovation was in the spotlight on Wednesday during the second and final day of the Fortune Most Powerful Women International Summit in Riyadh.

In an exclusive interview with Arab News, Princess Noura bint Faisal reflected on her own unexpected path to cultural leadership, the strategic value of soft power, and the expanding economic role of the creative sector in the Kingdom.

“I never thought I would be in the creative world,” she said. “But when I moved back to Saudi after Vision 2030 launched, I saw an opportunity to build something meaningful.”

Her journey since then has included the launch of Saudi Fashion Week in 2018 and helping to establish the Fashion Commission at the Ministry of Culture.

“We created infrastructure that didn’t exist: new jobs, policies and real career paths for people with creative talent,” Princess Noura said.

Princess Noura emphasized the important need to integrate culture across all industries, from retail and the food and beverage sector to sports and corporate strategy: “Culture isn’t a fixed definition. It’s how you express your identity and it can absolutely be monetized if it’s supported by the right business model.”

The concluding day of the summit featured a strong focus on entrepreneurship, economic diversification and sectoral transformation.

Noor Sweid, founder and managing partner of Global Ventures, offered insights into her company’s regional approach to tech investment. Rather than sticking to fixed sectors, she said it backs sectors that have long been “underbuilt,” including financial technology in 2018, healthcare in 2020 and, more recently, manufacturing.

One standout example of this approach, she said, is a company that digitizes spare-part inventories for oil and gas businesses using 3D printing, thereby resolving supply-chain gaps and sustainability challenges in real time.

Her comments were complemented by insights from Aidan Madigan-Curtis, general partner at Eclipse Ventures, who discussed the ways in which geopolitical shocks and climate pressures are forcing venture capitalists to refocus on industrial technology.

“VCs like to say they’re long-term but they’re also deeply cyclical,” she noted, arguing that the future lies in reinventing the ways in which the world makes, moves and powers things, taking into account developments such as automation and advanced manufacturing.

Cultural transformation through sport was a major theme during a panel moderated by Lama Alhamawi of Arab News, titled “New Heights.” Adwa Al-Arifi, the Saudi assistant minister for sports affairs, said that since the launch of Vision 2030 in 2016, physical activity among Saudis has increased from just 13 percent to more than 50 percent.

The Kingdom’s National Sports Strategy focuses on mass participation, youth development and elite performance, three pillars that have already led to the achievement of some historic milestones in women’s sports, such as the qualification of taekwondo athlete Dunya Abutaleb for the 2024 Olympic Games in Paris.

Several women shared their personal journeys in sports. Zamzam Al-Hammadi, who competes in the mixed martial arts Professional Fighters League, credited her mother for inspiring her career. Boxing expert Rasha Al-Khamis told how early support from her father gave her the confidence to pursue combat sports.

Mashael Al-Obaidan said Saudi Arabia’s desert culture sparked her love of motorsports. Aalia Al-Rasheed, head of women’s football at the Saudi Arabian Football Federation, spoke about the explosive growth in grassroots programs for the sport and revealed that more than 70,000 girls now play in school leagues.

Other sessions explored the economic and creative value of the fashion industry. During one on-stage discussion, Princess Noura reflected on what she considered one of the most notable outcomes of recent reforms in the country, the formal recognition of creative professionals.

“Before Vision 2030, designers weren’t even able to register their own commercial licenses,” she said. “There was no such thing as a fashion business. Today, designers can register as fashion professionals, operate legally and access support structures that didn’t exist before.”

This shift is emblematic of Saudi Arabia’s broader cultural transformation, in which creativity is no longer only a passion but also a viable and valued career path, she added.

The day’s sessions together highlighted the expanding leadership roles of Saudi women across diverse sectors and the determination of authorities in the Kingdom to turn strategic pillars such as culture, investment, sport and technology into economic engines.