Chinese top among tourists to enter KSA this month

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The Kingdom is hoping to increase the number of foreign visitors, as well as encourage domestic tourism and create jobs for young Saudis. (SPA)
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The Kingdom is hoping to increase the number of foreign visitors, as well as encourage domestic tourism and create jobs for young Saudis. (SPA)
Updated 10 October 2019

Chinese top among tourists to enter KSA this month

  • Saudi Arabia has issued 7,391 tourist visas to Chinese nationals since September 28
  • Kingdom will receive 100 million visitors annually by 2030, Saudi Authority

ISLAMABAD: Chinese nationals have topped the number of foreign visitors to enter Saudi Arabia since September this year, according to the Saudi Foreign Ministry.
The ministry revealed the number of visitors from the top 10 countries using the new system — with China topping the list with 7,391 tourists, the UK, and the US on second and third slots with 6159 and 2132 visa applicants respectively.
France and Germany were also on the list, with Canada, Malaysia, and Russia just behind the top three. Australia and Kazakhstan were in ninth and tenth place, the ministry revealed. 
The Saudi Commission for Tourism and National Heritage (SCTH) announced the launch of e-tourist visa welcoming visitors from all over the world on September 28, which coincided with the World Tourism Day. 
The one-year multiple-entry visas allow tourists to spend up to 90 days in the country.
Ahmad bin Aqil Al-Khatib, chairman of the SCTH board of directors said on the occasion that the Kingdom was opening its doors to the world. “We are hospitable people who welcome and honor their visitors, who will witness the importance of hospitality, beauty of nature and cultural depth in the Kingdom.”
Saudi Arabia is not only welcoming visitors but also investors, Al-Khatib said.
“I am glad to announce attracting 115 billion riyals so far, which indicates the world’s trust in the Saudi market’s strength and its potential,” he added.
According to the SCTH, there are over 10,000 historical sites in Saudi Arabia while the sites registered under UNESCO’s World Heritage list represent only part of the kingdom’s rich cultural heritage and marvelous destinations for world viewing.
Under the Saudi national tourism strategy, the kingdom will receive 100 million visitors annually by 2030 while currently, it receives 41 million, the SCTH said.
 


Moath Al-Naeem, chief investment officer of Alpha Capital

Updated 17 October 2019

Moath Al-Naeem, chief investment officer of Alpha Capital

Moath Al-Naeem has been chief investment officer of Alpha Capital since its establishment in March 2018.

Alpha Capital is a rapidly growing company licensed by the Capital Market Authority and with assets well above SR1 billion ($267 million).

Before joining the company, Al-Naeem worked for almost a decade in Saudi Aramco’s investment department, which handled the oil giant’s multibillion-dollar pension and savings plans.

Al-Naeem began his career as a financial analyst in fixed income and public equity desks. Afterwards, he led the international real estate desk, where he conducted an on-site investment review and due diligence on several funds to build the global real assets portfolio.

He worked on the restructuring of Aramco’s thrift savings plan and was part of a team that led the successful spin-off of the investment department to a standalone entity, Wisayah Investment Co.

Al-Naeem, a CFA charter holder, earned his MBA from Imperial College London, and attended executive programs in real estate and private equity at Harvard and London Business School, respectively.

He is a board member of Dammam Airport Co. and Siporex Lightweight Construction Co., and a member of the Investment and Financial Papers Committee at the Riyadh Chamber of Commerce and Industry. He was also a board member of the CFA Society in Saudi Arabia.