“While the average availability of water worldwide is 7,453 m3 per capita per year, in the Middle East this figure falls to 736 m3.”
-The Saudi publicly-owned Saline Water Conversion Corporation (SWCC) has awarded ACCIONA, and its partner RTCC, the design and construction of the Shuqaiq 1 desalination plant on the Red Sea coast in Saudi Arabia. The contract amount awarded is US $384 million. The facility, which is expected to be completed in 2023, is ACCIONA´S fifth desalination plant built in the country and the third awarded to the company by SWCC. [Utilities ME]
“Resilience against a backdrop of global uncertainty is a clear sign that the Saudi opportunity has not changed. We look forward to continuing our support of foreign investors as they access and enjoy the benefits of the Kingdom’s emerging opportunities.”
-Khalid Al-Falih, Saudi Minister of Investment, in announcing that a total of 306 new international companies were granted investor licenses in Saudi Arabia in the third quarter of 2020, a 96 percent increase on the previous three-month period. [Arab News]
“I believe you know our destinations at mainly the Red Sea will be positioned among the best destinations globally by 2030 and people will definitely experience them, even if we don’t offer alcohol…We need to inject about $70 billion until 2023 and more than $200 billion by 2030 to fill the gap in the offering, whether in retail, hospitality or in recreation. Therefore we have been sharing our story with the world.”
-Ahmed Al-Khateeb, Saudi Arabia’s Minister of Tourism, spoke to Arab News’ Frank Kane about the Kingdom’s ambitious plan to become one of the world’s top tourist destinations. [Arab News]
“Energy continues to play a key role in the cooperation between our countries, with significant potential in the creation of new technologies for oil production and enhanced oil recovery, the use of artificial intelligence and scientific cooperation.”
-Alexander Novak, Russian Deputy Prime Minister and former Minister of Energy, on Sunday following a visit to Saudi Arabia. Novak said that work was continuing to expand Saudi Aramco’s role in Russian energy projects. [Reuters]
“Young Arabs will need every job outlet they can find. On the eve of the Arab uprisings, nearly 30% of youth faced unemployment. That number has barely budged a decade later. For the tenth year in a row, in a wide-ranging, highly regarded survey of Arab youth, they listed unemployment as a top concern.”
-Afshin Molavi analyzes China’s significantly increased trade with the Arab world (up approximately 700% since 2004) and its impact on FDI, employment and policy. [Quartz]
“Saudi Arabia’s Public Investment Fund is committed to a diverse workforce, underlining the fund’s commitment to delivering on Vision 2030; developing young Saudi talent and improving access to high-quality career opportunities.”
–The Public Investment Fund, which has been on a hiring spree over the last year, in a statement to Reuters. The PIF said that about 84% of PIF’s employees are Saudi citizens and 26% of its total employees are women, including Shihana AlAzzaz, the fund’s general counsel and secretary general to the board. [Reuters.]
“Saudi Arabia’s 2021 budget is expansionary. We wanted to make sure that we stimulate the economy and support growth and diversification. It doesn’t need to be just through government expenditure.”
-Mohammed Al-Jadaan, Saudi Arabia’s Minister of Finance, discussing the Kingdom’s annual budget statement, released today for 2021. Saudi Arabia announced a 990 billion riyal ($263.91 billion) budget for 2021 on Tuesday, around 7% less than estimated spending for this year. [Bloomberg]
“We’re very excited. Saudi Arabia remains a hypergrowth market when you look at the online trends. We did see 35 percent of customers say that they like to make purchases now with a debit or credit card when making large purchases in Saudi Arabia.”
-Omar Soudodi, managing director of Amazon Payment Services, discussing the launch of Amazon Payment Services (previously Payfort) in Saudi Arabia. [Arab News]
“Call it whatever you want to call it, but this (vision 2030) is a strategy that has been launched, that is ongoing, that is changing social life within the Kingdom. [Sports] contribution to the GDP of Saudi Arabia in 2016 was SAR2.4 billion ($640 billion), today it is SAR6.5 billion ($1.7 billion) in 2019. All of our programs today that we do in the ministry of sports and the Federation is all about diversity and inclusion. Things are changing and things are changing to the positive and we have to make sure that it changes in the right way.”
-HRH Prince Abdulaziz bin Turki Al-Faisal, Saudi Arabia’s sports minister, answering a question on what the Kingdom can do more to prove the repeated western media accusations of “sports washing” wrong. [Arab News interview]
“To overturn decades of systemic social, cultural, and economic inequity, it’s not enough just for governments to implement new rules, regulations, and laws (which alone don’t change behavior) – private sector attitudes and society’s perceptions must change as well. We need a new mindset; one where building more equitable and tolerant societies is a collective ambition, a shared responsibility, and a common obligation of citizenship. And we need to do it for the right reasons, not as an ambition to “Westernize” but as an ambition to evolve and advance, while maintaining the traditions and beliefs of our beautiful and rich culture.”
-HRH Princess Reema bint Bandar Al-Saud, Saudi ambassador to the United States. [Vogue Arabia]
