Saudi Arabia ‘ideal’ for foreign investors

December 6, 2014

Saudi ArabiaJeddah, Dec 6: Saudi Arabia’s massive spending on infrastructure and overhaul of its regulatory environment has made the country even more attractive for foreign investors.

This is according to Prince Saud bin Khaled Al-Faisal, deputy governor of the Saudi Arabian General Investment Authority (SAGIA), who said that these developments have seen the Kingdom become one of the world’s leading economies.

He made the comments during a speech at the British-Gulf Economic Forum in London on Thursday, which was organized by the Arab-British Chamber of Commerce. Prince Albert and Abdullatif bin Rashid Al-Zayani, secretary-general of the GCC, also attended the event.

He praised Custodian of the Two Holy Mosques King Abdullah for allocating $76 billion (SR285.2 billion) in 2014 for infrastructure development, or about 11.1 percent of the Kingdom’s GDP.

He said infrastructure spending per capita is currently about $815 (SR3,059), which is more than double that of other emerging markets such as Brazil, India and Indonesia.

The Kingdom has also overtaken many developed countries in the global index of infrastructure investment in 2014, and is now in 11th place, while the United States is ranked 12th.

He pointed out that the country’s GDP over the past decade increased from $214 billion (SR803.2 billion) in 2004 to $750 billion (SR2.8 trillion) in 2013, which places the Kingdom in third place among the top 20 fastest growing economies.

He said the Kingdom is open to foreign investment and has introduced several laws and regulations to boost opportunities for investors, including reducing the investment capital required for foreign companies. He said the Kingdom has also enacted legislation to enhance commercial arbitration.

He said there were several investment opportunities in the Kingdom, and commended SAGIA’s efforts over the past few years in making the Kingdom an attractive place for investors.

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KT
April 14,2020

Dubai, Apr 14: Saudi Arabia reported 435 new cases of coronavirus, bringing the total number of infections in the country to 5369, the Ministry of Health announced on Tuesday.

According to the ministry of health the number of recoveries today are 84 cases, making total of recoveries in the kingdom 889.

The ministry also confirmed 8 deaths bringing the total number of deaths in the kingdom to 73.

Saudi Arabia imposed a 24-hour curfew and lockdown on the cities of Riyadh, Tabuk, Dammam, Dhahran and Hofuf and throughout the governorates of Jeddah, Taif, Qatif and Khobar. This week the curfew was extended until further notice.

Containment efforts
Saudi authorities are racing to contain an outbreak of coronavirus in the Islamic holy city of Mecca.

The total number of coronavirus cases reported in Mecca, home to 2 million people, reached 1,050 on Monday compared to 1,422 in the capital of Riyadh, a city more than three times the size. Mecca’s large number of undocumented immigrants and cramped housing for migrant workers have made it more difficult to slow the infection rate.

Saudi Arabia has reported one of the lowest rates of infection in the region, with around 5,000 cases in a population of over 30 million.

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Agencies
June 29,2020

Protests condemning the Israeli plan to annex parts of the occupied West Bank are set to take place in the United States and Europe on the same day prime minister Benjamin Netanyahu plans to begin the process.

The demonstrations will be held on Wednesday in Chicago, San Diego, Brooklyn, Los Angeles and San Francisco. Other Western cities will also witness similar protests, including Toronto, Madrid and Valencia.

Students for Justice in Palestine, Jewish Voice for Peace, and American Muslims for Palestine are among the pro-Palestinian groups organizing the protests.

The Samidoun Palestinian Prisoner Solidarity Network, one of the organizers, urged "direct actions and popular mobilizations in [Palestinian] refugee camps, cities and villages," and professed "loyalty to the martyrs" on its call for the events.

Another group, Al-Awda or the Palestinian Right to Return Coalition, decried "72 years of genocide, ethnic cleansing and dispossession" of Palestinians.

It also tied their demonstrations to the protests against anti-black racism in the US and beyond.

"We demand the defunding and dismantling of US police alongside the defunding and dismantling of Zionist colonialism and racist Israeli apartheid," Al-Awda said on its website.

Netanyahu has set July 1 as the date for the start of cabinet discussions on the annexation plan.

He has been driven ahead by US President Donald Trump, who unveiled a “peace” plan for the Middle East in January that effectively sidelines the Palestinians altogether.

The plan, which Trump himself has described as the “deal of the century,” envisions Jerusalem al-Quds as “Israel’s undivided capital” and allows the Tel Aviv regime to annex settlements in the occupied West Bank and the Jordan Valley. The plan also denies Palestinian refugees the right of return to their homeland, among other controversial terms.

The Palestinians want the West Bank as part of a future independent Palestinian state with East Jerusalem al-Quds as its capital.

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News Network
March 9,2020

Riyadh, Mar 9: Schools and universities will be closed in Saudi Arabia from Monday to control the spread of coronavirus.

The Saudi Ministry of Education said the “preventive and precautionary” measures were recommended by the health authorities and are designed to protect students and staff.

The decision covers all educational institutions, including public and private schools, and technical and vocational training institutions.

“The Minister of Education directed that virtual schools and distance education be activated while the schools are closed to ensure that the educational process continues in an effective and quality manner,” the ministry said.

The Kingdom's Education Minister, Hamad bin Mohammed Al-Asheikh, confirmed that the decision was a precautionary step and said that they are conducting daily and weekly evaluations before returning to school.

Meanwhile, the Minister of Health, Tawfiq Al-Rabiah, confirmed that there have been no coronavirus cases in any educational facility in the Kingdom.

“Thank God, the situation is reassuring, and there has been no case in any educational facility. However, the increasing cases in countries have made us keen to enhance the safety of our sons and daughters. So we coordinated with the Ministry of Education to close the schools temporarily,” he said in a tweet on Sunday.

The education ministry has set up supervision offices to help coordinate the distance learning, and respond to parents’ inquiries.

A new committee set up by the ministry will also ensure the virtual schools are functioning through the distance learning methods provided by the ministry.

These include the virtual school platform (Vschool.sa) and mwterials available from the Apple and Android stores.

It will also provide lessons through the “Ain” TV channeland as well as on YouTube via this link: www.youtube.com/dorosien.

The General Presidency for the Affairs of the Grand Mosque and the Prophet’s Mosque also said on Sunday that it will suspend the visitation programs in its external facilities as part of recommended precautions to prevent the spread of the coronavirus and ensure the safety of visitors.

The facilities include the King Abdulaziz Complex for the Covering of the Holy Kaaba, the Gallery of the Two Holy Mosques, and the Library of the Holy Mosque of Makkah.

“The presidency has taken a series of precautionary measures to prevent the spread of the virus, by intensifying sterilization work that is taking place around the clock, and has been keen on coordination and joint cooperation with all relevant government sectors,” it said in a statement issued on SPA.

It added that these preventive efforts come within the procedures that are being implemented by the Saudi government seeking to combat the spread of the new virus, to protect the people of the Two Holy Mosques in particular, and citizens and residents in the Kingdom in general.

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