Investment in Saudi Arabia offers ‘game-changing’ opportunities: Arab-British business conference

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Ernst and Young’s Carlos Adams highlighted why international firms should invest in Saudi Arabia and how SAGIA was able to help facilitate foreign investment. (AN Photo)
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Ernst and Young’s Carlos Adams highlighted why international firms should invest in Saudi Arabia and how SAGIA was able to help facilitate foreign investment. (AN Photo)
Updated 29 November 2019
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Investment in Saudi Arabia offers ‘game-changing’ opportunities: Arab-British business conference

  • Ernst and Young’s Carlos Adams: ‘The Kingdom wants to attract and expand high-value investments and they have real priority sectors such as chemical and energy’
  • Carlos Adams: ‘Not only are they introducing more and more entertainment and tourism facilities, but there is also a leading financial sector there’

LONDON: Saudi Arabia is offering “game-changing” investment opportunities for international investors, a top adviser to the Kingdom told business leaders on Thursday.

Carlos Adams of Ernst and Young, the firm working with the Saudi Arabian General Investment Authority (SAGIA), was speaking at a forum hosted by the Arab-British Chamber of Commerce in London.

During his presentation at the “4th Industrial Revolution” conference, Adams highlighted why international firms should invest in Saudi Arabia and how SAGIA was able to help facilitate foreign investment.

“The Kingdom wants to attract and expand high-value investments and they have real priority sectors such as chemical and energy, but also tourism and leisure.

“There are many reasons to invest in Saudi Arabia. It has a young and really educated population and this is one of the reasons this project is exciting to us (at EY). They have got an integrated infrastructure and there are loads of game-changing opportunities.

“They are actively trying to market the ‘Invest in Saudi’ brand as well, you will see it everywhere, at every major expo around the world you will see the ‘Invest in Saudi’ branding,” he added.

Adams also described the Kingdom’s plan to create industry-specific hubs throughout Saudi Arabia, which would better focus foreign investment, and explained how SAGIA could make the process easier for new investors into the Kingdom.

“SAGIA offers a lot of services to new and existing investors, from site visits through to helping to realize where to locate. For example, if you’re coming to the UK and in the creative industry, you might be inclined to move into London, but if you’re in animation, actually, the best place to be is Bristol.

“It’s the same thing in Saudi Arabia, SAGIA can help find the best places to grow these hubs or clusters of companies and investors within certain sectors.

“They also do set-up and assistance to make sure companies have the right licenses and permits, they have a really impressive task force, which works with investors day in and day out to ensure it’s a seamless integration into a great opportunity,” Adams added.

Investment into Saudi Arabia is growing month on month and Adams told delegates how investment from the UK in particular had increased in 2019. Fourteen licenses were issued to British companies in the first quarter of 2018, but that had jumped to 24 in the same period this year.

He described how the Vision 2030 reform plans for expanding investment opportunities in the Kingdom and the geographical location of Saudi Arabia made it a prime opportunity for investors.

“Not only are they expanding the quality of life there and introducing more and more entertainment and tourism facilities, but there is also a leading financial sector there, especially since they have created the King Abdullah Financial District,” he said.

“All of this comes out of the Vision 2030, which is based on three main pillars — which includes Saudi Arabia affirming its position as the heart of the Arab and Muslim world. Also, Saudi Arabia is known for being an investment powerhouse but also a hub connecting three continents, which means it is uniquely placed for investors.

“As part of that plan, there are three major themes within that, which include creating a thriving economy, to create a vibrant society and establish the Kingdom as an ambitious nation,” Adams added.

The EY consultant said SAGIA was achieving these goals through privatization programs, “localization” by getting more Saudis involved in projects and foreign companies using local talent, as well as giga and mega projects, which he said were “on an enormous scale.”

Adams admitted that one of the questions he was often asked surrounded how simple it was to invest in Saudi Arabia, which he said could be done through the Tayseer program for easy payment. It aims to secure and stimulate the investment environment for the private sector and to provide the necessary guarantees for the preservation of rights.

He said the program could issue commercial visas within 24 hours, which has had a huge impact on the number of investments regionally and internationally.

“What is exciting about this is we’re now turning a page where you can have 100 percent foreign ownership within the Kingdom and that is revolutionary, not just for the Middle East, but in general.

“Companies have a great opportunity to go and set up and take advantage of the incentives that the Kingdom has to offer but also to take advantage of the growing more educated and more connected population,” he said.


Metal bands battle it out in Jeddah

Updated 05 May 2024
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Metal bands battle it out in Jeddah

  • Saudi band Wasted Land emerged as champions of the 2024 Wacken Metal Battle Middle East

JEDDAH: Wacken Metal Battle Middle East arrived in Jeddah’s Makan Music Center on Friday night, providing a platform for local metal bands to showcase their musical prowess.

The battle of the bands event featured Jaheem, Volfram, Kaizer, and Wasted Land aiming for top spot, creating a memorable experience for regional metal fans.

The battle of the bands event featured Wasted Land, Jaheem, Volfram, and Kaizer aiming for top spot, while 2023 winner, Egyptian band Erasing Mankind, took to the stage as guest performers. (AN photos/Supplied)

Wacken Metal Battle Middle East — supported by the German Consulate in Jeddah and European Weeks in Saudi, and a competition connected with Germany famous Wacken music festival — featured a jury of music experts and international guests, including judges from Germany, who evaluated the bands based on technical ability, song composition, and musical interpretation. They also took into account the band’s uniqueness, stage presence, audience interaction, execution of sound checks, communication, punctuality, and overall attitude.

HIGHLIGHTS

• Wacken Metal Battle Middle East was supported by the German Consulate in Jeddah and European Weeks in Saudi Arabia, and a competition connected with Germany’s famous Wacken music festival.

• Saudi band Volfram described the night as a ‘unique and unforgettable experience.’

The jury selected Wasted Land as the champions of the competition, meaning they now have the chance to perform at the Wacken festival, which takes place annually in Hamburg. Adding to the excitement, the winners of the 2023 event, Egyptian band Erasing Mankind also took to the stage as guest performers.

The battle of the bands event featured Wasted Land, Jaheem, Volfram, and Kaizer aiming for top spot, while 2023 winner, Egyptian band Erasing Mankind, took to the stage as guest performers. (AN photos/Supplied)

Promoter Monika Bremer said, “Since its inception 10 years ago, Metal Battle Middle East has provided numerous emerging bands with the opportunity to showcase their talent and advance their careers. This anniversary edition is an important milestone for the regional metal scene.

“Thanks to the support of our partners, emerging metal bands have the opportunity to participate in this competition and gain valuable experience,” she added.

Emad Ashor, guitarist and vocalist of Jeddah-based death metal outfit Immortal Pain and one of the judges at the event, said, “Talent, passion, and professionalism are key. This platform allows all bands to explore new experiences and pursue their dream of victory.”

Karim Mounir, composer and bassist of Erasing Mankind, who was also a judge at the event, said: “Wacken is all about embracing the present moment and fostering camaraderie between bands and the audience. Live performances truly distinguish bands, and the Saudi metal scene’s exceptional talent and musicianship have demonstrated their worthiness for such a significant event.

“The band that can most effectively captivate Wacken’s lively and inclusive crowd would be a perfect representative from the Middle East.”

Saudi band Volfram described the night as a “unique and unforgettable experience.”

Reflecting on the band’s journey to the final of the Wacken Metal Battle, a member of Kaizer said, “Being part of this competition is an honor in itself, and sharing the stage with incredible bands is an experience we will always treasure.

“Kaizer is just beginning and has so much more to offer. Our goal is to represent the Saudi metal scene in the most intense and impactful way possible. Earning the title of Jeddah’s Heaviest Music from the crowd is a recognition we deeply appreciate.”

 


Meet the Russian stylist living ‘blissfully’ in Saudi Arabia

Since her arrival, Margo Marsden has been documenting her experience of life in Saudi Arabia on social media. (Supplied)
Updated 04 May 2024
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Meet the Russian stylist living ‘blissfully’ in Saudi Arabia

  • “True to our expectations, we’ve found immense satisfaction living in Saudi Arabia. We consider it the best decision we’ve made for our family, and have no regrets.” Marsden, a professional stylist, told Arab News

RIYADH: Margo Marsden relocated to Saudi Arabia two years ago when her husband — a British oil and gas engineer — accepted a job in the Kingdom. Since her arrival, she has been documenting her experience of life in Saudi Arabia on social media. Her TikTok profile states she is a “Russian mother married to British father … living blissfully in Saudi Arabia.”

“True to our expectations, we’ve found immense satisfaction living in Saudi Arabia. We consider it the best decision we’ve made for our family, and have no regrets.” Marsden, a professional stylist, told Arab News. “Living here is incredibly invigorating; one can palpably sense the positive transformations taking place in the country, aligned with the ambitious Vision 2030 plan. In my view, Saudi Arabia stands as the premier destination for living in 2024.”

Marsden was born and raised in Kazakhstan before moving to Russia with her parents when she was 14 years old. She lived in several countries before relocating to Saudi Arabia, including Malaysia, Singapore, Italy, Turkiye, Lebanon, Thailand, the UK, and Norway.

Living here is incredibly invigorating; one can palpably sense the positive transformations taking place in the country, aligned with the ambitious Vision 2030 plan.

Margo Marsden, Russian stylist in KSA

Marsden had worked in Riyadh for a month in 2019 with fashion retailer Zara during Ramadan, and when her husband told her about his job offer, she was thrilled at the prospect of visiting the Kingdom again.

“I love it here, and I look forward to sharing my knowledge with local and expat women, to elevate their confidence and refine their fashion identity,” she said.

Marsden now has more than two decades of experience in the fashion industry. It’s a passion that began in her childhood, when she would meticulously craft outfits for her Barbie dolls with her mother’s guidance.

Marsden said she worked as a model — treading catwalks in Russia, Kazakhstan, Hong Kong, Malaysia, Singapore, Sri Lanka, Lebanon, Turkey, Trinidad and Tobago, and Thailand — before moving into the business side of the industry, studying fashion design at Accademia Italiana in Bangkok and personal styling at the London College of Style. She has worked as a buyer, content creator and stylist.

“My artistic pursuits also extend behind the camera; I coordinated photoshoots for both personal and corporate clients,” she added.

As a stylist, she said, her main objective is “to enhance my client’s natural beauty and instill confidence in each customer I work with.” While Marsden doesn’t currently have any clients in the Kingdom, she is hoping to establish her own business eventually.

“I’m eager to offer my expertise to individuals keen on enhancing their appearance. Helping others look and feel their best is immensely fulfilling to me,” she added.

To follow Marsden’s journey in Saudi Arabia, visit her Instagram @margo.marsden.

 


Riyadh forum to explore role of translation in promoting Saudi identity

Updated 04 May 2024
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Riyadh forum to explore role of translation in promoting Saudi identity

  • The conference aims to contribute to a key objective of the Kingdom’s Vision 2030 in promoting Islamic values and national identity, by encouraging Saudis to translate these concepts into other languages and cultures

RIYADH: The College of Languages at Princess Nourah bint Abdulrahman University in Riyadh will host a conference titled “Translating the Saudi identity through other languages and cultures” on May 15.

The event, carrying the slogan “We translate our identity,” will take place at the Department of Conferences and Seminars, and is sponsored by Saudi Minister of Education Yousef Al-Benyan.

It will focus on sharing the Kingdom’s cultural, historical, literary and intellectual heritage with a global audience, the Saudi Press Agency reported.

HIGHLIGHT

The conference will attract researchers and enthusiasts interested in Saudi identity and its translation for foreign cultures. Students specializing in national identity and translation will take part, alongside representatives from sectors focused on translating Saudi identity, including ministries, agencies and companies.

The role of translation in promoting a positive image of the Kingdom will also be discussed, as well as fostering international recognition and underscoring the Kingdom’s cultural impact.

The conference aims to contribute to a key objective of the Kingdom’s Vision 2030 in promoting Islamic values and national identity, by encouraging Saudis to translate these concepts into other languages and cultures.

A competitive environment will be established among university students to introduce them to their identity through other languages and cultures.

The conference will attract researchers and enthusiasts interested in Saudi identity and its translation for foreign cultures. Students specializing in national identity and translation will take part, alongside representatives from sectors focused on translating Saudi identity, including ministries, agencies and companies.

Six scientific sessions and workshops will be hosted at the conference, as well as topic-related exhibitions and cultural events. Sessions will cover themes including “Saudi family identity,” “National identity,” “Linguistic communication,” “The role of translation and publishing in sharing the Saudi identity with the world,” “Translating national heritage into global languages” and “National identity in film translation.”

The conference’s workshops will focus on topics including translating the Saudi identity within the tourism sector.

The College of Languages organized the event as part of its commitment to the 2025 strategic goals of Princess Nourah bint Abdulrahman University.

 


King Salman issues royal decree to appoint investigative lieutenants at Public Prosecution

Updated 04 May 2024
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King Salman issues royal decree to appoint investigative lieutenants at Public Prosecution

RIYADH: King Salman issued a royal decree on Saturday to appoint 261 investigative lieutenants at the Ministry of Justice’s Public Prosecution, Saudi Press Agency reported.

Attorney General Sheikh Saud bin Abdullah Al-Mujib thanked the king for the royal decree and said it reflected the support provided by the King Salman and Crown Prince Mohammed bin Salman for the ministry and its departments, SPA added.

Al-Mujib praised the commitment to advancing the development and prosperity of the justice ministry in alignment with the Kingdom’s Vision 2030.


Saudi Arabia, Turkey and Pakistan discuss enhancing defense cooperation

Updated 05 May 2024
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Saudi Arabia, Turkey and Pakistan discuss enhancing defense cooperation

  • The Saudi-Turkish bilateral defense cooperation committee also met in Istanbul

ISTANBUL: Saudi Arabia, Turkiye and Pakistan’s tripartite committee held its third meeting recently in Istanbul to discuss ways to enhance defense cooperation.

Saudi Assistant Minister of Defense Talal bin Abdullah Al-Otaibi, Turkish Deputy Minister of National Defense Bilal Durdali, and Lt. Gen Mohammed Owais from Pakistan were among the officials present at the meeting, the Defense Ministry said in a report on Saturday.

The meeting focused on joint cooperation in defense, the transfer and localization of technology, and the development of scientific research in accordance with Saudi Vision 2030, the ministry stated.

The Saudi-Turkish bilateral defense cooperation committee also met in Istanbul recently.