RIYADH: France has deep and longstanding economic ties with Saudi Arabia, and Vision 2030 is one more incentive to strengthen a win-win relation that serves the Kingdom’s best interests.
France is the third-biggest investor in the Kingdom, with more than $15 billion of investments, while Saudi Arabia is France’s leading commercial partner in the Gulf, with commercial flows amounting to more than $8 billion.
More than 80 French companies, some of them global leaders in their fields, have an active presence in Saudi Arabia and employ more than 27,000 people, with a Saudization rate of 36 percent. The average Saudization rate for the overall economy is 16 percent
French companies are involved in many strategic projects throughout the Kingdom, serving the Saudi ambition to develop a world-class railway and urban transportation infrastructure, energy network, tourism industry, financial services, telecommunications and health care.
While France’s involvement in the Kingdom already spans most of the strategic sectors, room remains for even broader and deeper cooperation in the new strategic sectors the Kingdom wants to develop, such as education, health care, financial services and renewable energy. There is momentum for such renewed bilateral cooperation.
For example, the Paris accord on climate change offers a wide range of cooperation opportunities on matters such as energy efficiency and transitioning to renewable energy.
In May, France and Saudi Arabia reaffirmed their commitment to the agreement, and could be leaders in developing carbon-efficient technologies.
French companies are already involved in solar and nuclear projects that will help the Kingdom diversify its energy mix.
But there could be greater Saudi business involvement in France. Total investment caps are at less than $1 billion, and are mostly directed toward real estate. The 24 Saudi companies operating in France employ 3,200 people and achieved a combined turnover of some €350 million ($399.5 million).
Given the priorities outlined in Vision 2030, France is a vital destination for Saudi businesses, especially for the technologies of tomorrow. In 2016, France was the fastest-growing hub for start-ups in Europe, and on the verge of becoming the continent’s No. 1 in terms of market capitalization for start-ups.
As an example of the dynamism of the start-up ecosystem, the giant Station F incubator, created by French entrepreneur Xavier Niel to enhance the growth of more than 1,000 start-ups, opened its doors less than a month ago.
France is also a leading player in fields such as financial services, health care and education, sectors the Saudi economy is willing to develop and invest in.
New governments in France and Saudi Arabia pave the way for new opportunities.
Upcoming bilateral events will be occasions to show how close our business relations can be. Efforts will be made to bring together businessmen and let them discuss opportunities. France and Saudi Arabia are ready to work together on a long-term basis. We undoubtedly have the capacity to strengthen our strategic partnership.
Vision 2030 another incentive to strengthen French-Saudi partnership
Vision 2030 another incentive to strengthen French-Saudi partnership
Excavators held for violating water system
- The discovery was made during field tours carried out by the water department
TUBARJAL: The Al-Jouf branch of the Saudi Ministry of Environment, Water and Agriculture has apprehended three excavators who were found to be violating the water system in Tubarjal.
The discovery was made during field tours carried out by the water department, in cooperation with the competent authorities in the governorate.
Separately, authorities in Addayer in the Jazan region have arrested seven Ethiopians for smuggling 105 kg of hashish. Legal procedures have been completed against the offenders who were handed over, along with the seized items, to the competent authority.
Border guard patrols in the Al-Harth area of Jazan have also foiled an attempt to smuggle 71 kg of hashish, with initial legal procedures completed and the find handed over to the competent authority.
Security authorities have reiterated their appeal for citizens and residents to report any information regarding drug smuggling or selling by calling 911 in Makkah, Riyadh, and the Eastern Region, and 999 in the rest of the Kingdom’s regions.
Those with information may also contact the General Directorate of Narcotics Control at 995 or at [email protected].
Direct KSA to Iraq flight routes announced
- These flights, along with flights to Baghdad and Irbil, will commence from June 1.
RIYADH: The Saudi General Authority of Civil Aviation announced the launch of direct flights from Dammam to Najaf, the Saudi Press Agency reported on Friday.
The decision is in line with the Kingdom’s national aviation sector strategy, aimed at doubling capacity to accommodate over 330 million passengers annually, and extending services to more than 250 global destinations.
These flights, along with flights to Baghdad and Irbil, will commence from June 1.
Ministry of Hajj and Umrah praises Iraqi authorities for arresting fraudsters touting fake Hajj trips
- A ministry source in the statement also warned prospective pilgrims to beware of unauthorized Hajj offers being promoted this year
- The ministry made it clear that visas for Umrah, tourism, work, family visits, transit, and other categories do not grant eligibility to perform Hajj
RIYADH: The Ministry of Hajj and Umrah expressed its gratitude for actions taken by the Supreme Commission for Hajj and Umrah in the Republic of Iraq that resulted in the prosecution of more than 25 companies fraudulently engaged in commercial Hajj operations.
A ministry source in the statement also warned prospective pilgrims to beware of unauthorized Hajj offers being promoted this year, primarily through social media.
Participation in Hajj requires pilgrims to obtain a legitimate Hajj visa issued by the authorities in the Kingdom in coordination with Hajj affairs offices in their respective countries, or via the Nusuk Hajj platform for those countries that do not have an official Hajj office.
The source said that the Ministry of Hajj and Umrah is monitoring advertisements from companies and campaigns, as well as identifying fake accounts on social networks allegedly offering Hajj packages at enticing prices.
The ministry made it clear that visas for Umrah, tourism, work, family visits, transit, and other categories do not grant eligibility to perform Hajj. It urged pilgrims to be careful not to fall victim to companies and others claiming to offer commercial Hajj campaigns or other misleading initiatives.
“Regulations must be followed and legally documented permits, as represented by the official Hajj visa, must be issued, so a safe, secure, well-managed Hajj program and fair representation to all nationalities is provided,” Mohsen Tutla, head of the World Hajj and Umrah Convention, told Arab News.
“Hajj is a mega event with more than 2 million worshippers. Can one imagine, if order was not imposed and (the event) not regulated, chaos would ensue,” he added.
In the statement, the ministry calls for everyone’s cooperation to help combat and report fraudulent companies and campaigns, and to seek information only by visiting its official website and engaging with its channels on social networks.
World’s largest Arabic opera opens in Riyadh
- The opera was produced by the Saudi Theater and Performing Arts Commission
RIYADH: “Zarqa Al-Yamama,” the world’s first and largest grand opera in Arabic, made its debut at the King Fahad Cultural Center in Riyadh, taking the audience on a lyrical journey through one of the best-known folkloric tales in the Arabian Peninsula.
The opera was produced by the Saudi Theater and Performing Arts Commission, and will run until May 4, telling the story of the central character’s attempts to warn her Jadis tribe of an imminent invasion.
Saudi chemistry duo add to KSA medal haul
- Team members were selected by Mawhiba
RIYADH: Two Saudi students have added to the Kingdom’s medal haul at the 2024 Mendeleev International Chemistry Olympiad being held in China from April 20-27.
Hassan Abdul Jalil Al-Khalifa, a third-grade secondary student from the Provincial Department of Education, Eastern Province, and fellow student Ali Salah Al-Moussa claimed bronze medals at the competition, lifting the Kingdom’s overall tally to three silver and 20 bronze.
More than 150 students from 27 countries are competing at the 58th session of the Olympiad.
Saudi Arabia is represented by a team of six students from several educational institutions.
Team members were selected by the King Abdulaziz and his Companions Foundation for Giftedness and Creativity, also known as Mawhiba.
Students were chosen after attending a series of forums over the course of two years, and were trained by Mawhiba, in partnership with the King Abdullah University of Science and Technology.
