Saudi development program targets $450 billion investment, 1.6 million new jobs

Arab News
January 29, 2019

Riyadh, Jan 29: Almost half a trillion dollars of investment and 1.6 million jobs are in the pipeline for Saudi Arabia under an ambitious industrial program launched on Monday in the presence of Crown Prince Mohammed bin Salman.

A slew of deals was announced across four key economic sectors — mining, industry, logistics and energy — at an event held at Riyadh’s Ritz-Carlton hotel.

The National Industrial Development and Logistics Program (NIDLP) is the largest initiative launched under the Saudi Vision 2030 reform plan, which aims to diversify a national economy that was hit hard by the 2014 slump in oil prices.   

The program aims to transform Saudi Arabia into an “industrial powerhouse,” reduce the reliance on imports, and boost the economy.

By 2030, the program aims to stimulate investments worth more than $453 billion, increase the value of non-oil exports to $260 billion, and add 1.6 million jobs to the labor market.

During the launch event, 37 agreements were signed and 29 others were announced worth a total of $54 billion.

The program includes more than 300 initiatives, which 34 government agencies are working to implement, according to a statement released at the event.

“The National Industrial Development and Logistics Program is one of the most important programs for achieving Vision 2030, as it moves the Kingdom into a new era of sustainable development, prosperity and economic diversification,” said Khalid Al-Falih, Minister of Energy and chairman of the NIDLP Committee.

“The mining sector will become a third pillar of the Saudi economy alongside oil and petrochemicals, while we continue to develop renewable energy and explore the diverse opportunities presented by the fourth industrial revolution through research and innovation.”

Agreements signed at the event included deals with Thales of France and CMI of Belgium, in the field of military industries, and one between the Saudi Export Development Authority and the Saudi Industrial Development Fund to launch an initiative to boost export financing.

Saudi Transport Minister Nabil bin Mohammed Al-Amoudi, speaking to Arab News at the launch of the program, said he believed that foreign investors would want to be involved because it made sound business sense.

“I think the driver of foreign capital is going to be good business opportunities, and the key to that is a healthy, vibrant and sustainable economy, which we have. The reforms were about ensuring that that was sustainable over the long term,” he said.

“But the real driver is ultimately going to be the business cases, or businesses that make sense for the foreign investor — actual investment opportunities, not just sentiment-driven investments.”

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Agencies
January 11,2020

Muscat, Jan 11: Oman's Sultan Qaboos bin Said has died, Aljazeera reported citing state television on Friday.

Qaboos was 79-year-old and was ill for a long time. He has served as the ruler of Oman since 1970 when he ousted his father in a bloodless coup.

Qaboos had no children and has not publicly named his successor.

Sultan Qaboos travelled to Belgium for a week in December for what was described then as "medical checks." He returned to Oman but speculations of his deteriorating health were rife.

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News Network
March 31,2020

Mar 30: the UAE Cabinet approved a series of new initiatives, foremost among which was the automatic extension of residence permits expiring from March 1.

The residence visas would be extended for a renewable period of three months without any fees to ease the economic impact of the Covid-19 crisis on residents, official news agency WAM reported.

The Cabinet has also waived the administrative fines associated with infractions on the services provided by the Federal Authority of Identity and Citizenship, starting April 1 and lasting for a renewable period of three months.

The initiatives also entail granting a temporary license to use digital solutions for remotely notarising and completing judicial transactions.

Government services expiring from March 1 will also be extended from April 1 for a renewable period of three months. The decision applies to all federal government services, including documents, permits, licenses and commercial registers.

The UAE has introduced a slew of initiatives to control the spread of the Covid-19 virus, including the online renewal of driving licences and vehicle’s registration cards.

The country’s telecom regulator, Telecommunications Regulatory Authority (TRA), also issued a directive that no mobile service with expired ID documents will be disconnected or suspended in the UAE.

The UAE has reported a total of 611 Covid-19 infections and five related deaths in the country.

A national sterilisation programme is underway that will continue until Saturday April 4, concluding on the morning of Sunday, April 5.

Carried out daily from 8pm until 6am the following morning, the programme will include the disinfection of private and public facilities.

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KT
April 13,2020

Dubai, Apr 13: The UAE Ministry of Health and Prevention (MoHAP) on Monday announced 172 new recoveries in the country, taking the total recoveries to 852 cases.

"With today's 172 cases, the total number of fully recovered Covid-19 patients has become 852, while three residents of different nationalities were declared dead, taking the total number of deaths to 25," Dr Farida Al Hosani, spokeswoman for the ministry, said.

"We have also carried out up to 23,380 new tests on Monday all over the country."

Also read: UAE residency, visit visas valid until end-2020

Dr Hosani said His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has launched the national home-based testing programme for determined people, be they nationals or residents.

"The program, targeting this important segment of the society who have difficulty doing tests outdoors, is part of the national drive-through testing national program."

Addressing some baseless rumours that are viral on social media, Dr Al Hosani confirmed that no one can fix a date for the peak of infected cases.

"So many studies have affirmed that physical distancing is so critical in reducing not only the number of Cobid-19 new cases but also the infection curve."

Dr Al Hosani advised the public to wear gloves whenever they go out. "However, do not touch your personal stuff when wearing gloves, particularly when using your phone, and safely dispose of them."

It is still so critical to clean your hands with water and soap on a regular basis, she underlined. "Cleaning and washing our hands are much better and safer than wearing gloves."

Wearing one-time disposable surgical gloves is highly advisable, she said. "If not available, hand-made cloth masks can be used but need to be cleaned regularly with water and soap."

Masks should be worn properly covering the nose, mouth and the chin, she pointed out. "Do not touch the internal or external parts of the face masks, while the blue colour side must be always outward."

Priority in drive-through tests are given for those with respiratory issues, senior people, and pregnant women, she said in answer to a question raised by media people.

"If you are developing no Covid-19 infection symptoms and just wish to make sure you are sound, you need to book an appointment, be aware that it will cost you Dh370."

"If developing minor symptoms, the public is urged to stay home and call any of these toll-free numbers for help: (800011111), (8001717), (800342)."

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