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The 5 Major Changes Saudi Arabia’s Capital Markets Authority Made to Increase Foreign Investment in the Saudi Stock Market
- May 3,2016
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- Lucien Zeigler
Saudi Arabia’s Capital Markets Authority (CMA) has significantly lowered the barriers to entering the Saudi stock market as a foreign investor and increased the amount which a foreigner may own of a Saudi company, the bourse announced in a release today. “These rules were implemented with the aim of raising the bar in relation to investing […]
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Mining in Focus for ‘Vision 2030’ as Ma’aden Appoints Health Minister Khalid al-Falih Chairman, Reshuffles Board
- May 2,2016
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- SUSTG Team
Saudi Arabia’s ‘Vision 2030’ plan to diversify its economy identifies the mining and minerals sector as one of the top non-oil growth sectors for the Kingdom. Days after the Vision 2030 plan was announced the Saudi Public Investment Fund (PIF) reshuffled the board of the Saudi Arabian Mining Company – known as Ma’aden – and […]
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Commentary: Saudi Arabia’s Vision 2030, Don’t Miss the Point
- April 29,2016
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- Richard Wilson
While Saudi Arabia’s Vision 2030 was formally endorsed by the Saudi Council of Ministers and published on April 25, 2016, anticipation about the plan had been building for months. McKinsey & Company’s 165-page Moving Saudi Arabia’s Economy Beyond Oil in December 2015 confirmed the depth of the analysis underway within the Saudi government while Deputy […]
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Saudi Arabia’s ‘Vision 2030’: What Does Success Look Like?
- April 28,2016
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- Lucien Zeigler and Richard Wilson
The recently released ‘Vision 2030’ is notable in many ways; not the least for the scope and ambition of the plan’s goals. As SUSTG has documented this week through a series of infographics, ‘Vision 2030’ is organized around three main themes and calls for the implementation of 13 separate ‘programs’ in support of the plan’s goals. […]
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The 13 ‘Programs’ in Saudi Arabia’s Vision 2030
- April 27,2016
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- Lucien Zeigler and Richard Wilson
Saudi Arabia’s Vision 2030 document, released on Monday April 25th, provides an ambitious roadmap for significant changes to the Kingdom’s economy and society over the next 15 years. The document highlights three general themes: a “vibrant society“, a “thriving economy“, and an “ambitious nation,” under which the document makes commitments to achieve progress on both […]
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Graphic: Visualizing the Themes in Saudi Arabia’s ‘Vision 2030’ Roadmap
- April 26,2016
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- SUSTG Team
Saudi Arabia’s recently released ‘Vision 2030’ provides the framework of ambitious plans to transform the Kingdom’s economy and society. Additional details – especially in regard to the economy-focused National Transformation Program – will be released over the next 4-6 weeks. Drafted by the Council of Economic and Development Affairs on instructions from King Salman, the just-released document provides […]
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Full Text: Saudi Arabia’s ‘Vision 2030’ National Transformation Program
- April 26,2016
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman, who is chair of the Council of Economic Development Authority (CEDA) and Minister of Defense presented the much-anticipated ‘Vision 2030’ framework of new policies to be pursued by the Saudi government. Here’s the full text of his presentation, as well as the Vision 2030 roadmap itself. The […]
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‘Saudi Vision 2030,’ Saudi Arabia’s National Transformation Plan for a New Saudi Economy, Launches with Media Push
- April 25,2016
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- SUSTG Team
Saudi Arabia’s has launched the ‘Saudi Arabia 2030’ National Transformation Plan (sometimes referred to as ‘Vision 2030’) today with a video announcement on Twitter and the first video interview with Deputy Crown Prince Mohammed bin Salman given to the news channel Al Arabiya. Details of the comprehensive plan are expected to include economic and social […]
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Deputy Crown Prince Mohammed bin Salman Opens Up on Personal History; ‘Vision for the Kingdom of Saudi Arabia’
- April 22,2016
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- SUSTG Team
In his second exclusive and wide-ranging interview with Bloomberg, Saudi Arabia’s deputy crown prince, chair of the Council of Economic and Development Affairs (CEDA), and minister of defense opened up on his rise to power, his initial struggles and ultimate acceptance under the late King Abdullah, and his fondness for Winston Churchill and Sun Tzu’s The […]
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President Obama, King Salman Attend GCC Summit in Riyadh; Pledge to build on ‘Deep Strategic Partnership’
- April 21,2016
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- Lucien Zeigler and Richard Wilson
President Obama and King Salman attended the summit of the Gulf Cooperation Council (GCC) members in Riyadh, Saudi Arabia today at the Al-Diriyah Palace. The White House on Wednesday called the summit “an important opportunity for the United States and its Gulf partners to strengthen cooperation against [the Islamic State group] and also to address regional […]
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MUST-READS
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New airline launched by Saudi to add $20 bn to non-oil GDP
Commenting on the launch of the new airline, Saudi Tourism Minister Ahmed Al-Khateeb wrote on Twitter that the new airline is a “major breakthrough” and will give a major boost to the Kingdom’s tourism sector. He said the launch of the airline support “our goal of receiving 100 million tourists from all over the world by 2030.”
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Tornado rips through Taif in Saudi Arabia
A huge sand tornado rolled through Taif in the Makkah province of Saudi Arabia, alarming many residents. A video on social media showed the moment the tornado tore across a field, lifting stones and rocks in its path.
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End To Yemen War, Stability, Top Saudi Aims In Resuming Ties With Iran
In an interview with London-based Asharq Al-Awsat, bin Farhan emphasized that the agreement announced March 10 in Beijing with Chinese mediation and apparent guarantees, shows a joint desire by Iran and Saudi Arabia to “resolve disputes through communication and dialogue.” He underscored, however, “This does not mean that an agreement has been reached to resolve all pending disputes between them.”
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End To Yemen War, Stability, Top Saudi Aims In Resuming Ties With Iran
In an interview with London-based Asharq Al-Awsat, bin Farhan emphasized that the agreement announced March 10 in Beijing with Chinese mediation and apparent guarantees, shows a joint desire by Iran and Saudi Arabia to “resolve disputes through communication and dialogue.” He underscored, however, “This does not mean that an agreement has been reached to resolve all pending disputes between them.”
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Bahrain, Iran held ‘low-profile exchanges’ amid Iranian-Saudi détente | Amwaj.media
Speaking on condition of anonymity, a senior regional source asserted that “after the reopening of the embassies in Tehran and Riyadh, there will after a short period of time also likely be a normalization between Iran and Bahrain.” He added to Amwaj.media, “There is no serious [outstanding] issue between Iran and Bahrain.”
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Arab world hails Iran-Saudi reconciliation as Israeli leaders trade blame
“The countries of the region have one destiny, and common denominators that make it necessary for us to join together to build a model of prosperity and stability for our peoples to enjoy,” Saudi Foreign Minister Prince Faisal bin Farhan tweetThe ed following the bombshell announcement from Beijing.
- The Hill - Five things to know about the Iran-Saudi deal brokered by China
- The National - EU welcomes Saudi Arabia and Iran's decision to resume ties
- Bloomberg - Opinion: Saudi-Iran Agreement Is Less Than Meets the Eye
- DW - What are Saudi Arabia and Iran hoping to gain?
- SCMP - Saudi Arabia, Iran and how a Chinese-brokered deal shows Beijing’s Mideast influence
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Saudi Crown Prince launches new national carrier Riyadh Air
The launch of Riyadh Air is part of PIF’s plan to utilize the capabilities of promising industries and help the Kingdom achieve its goal of economic diversification. The sovereign fund has more than $600 billion in assets and is the main driver of the Kingdom’s efforts to wean itself off oil.
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Saudi Arabia launches new national airline
Saudi Arabia's Crown Prince Mohammed bin Salman formally announced on Sunday the creation of a new national airline, Riyadh Air, with industry veteran Tony Douglas as its chief executive, as the kingdom moves to compete with regional transport and travel hubs. Riyadh Air will will serve more than 100 destinations around the world by 2030, making use of the kingdom's location between Asia, Africa and Europe, state news agency SPA said.
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Startup Wrap: MENA startups close to raising $1bn in funding in a single month after February boom
Startups in the Middle East and North Africa region raised $760 million across 48 deals in February 2023, twice the figure in the same period last year. The funding value last month increased by 638 percent month-on-month and the number of deals increased twofold to 48, according to Wamda’s monthly reports. Egypt startups led February’s rise, closing $422 million in funding with the vast majority of that thanks to fintech MNT-Halan raising $400 million in a single round.
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Saudi Arabia’s FM Prince Faisal meets French counterpart in Paris
Saudi Arabia’s Minister of Foreign Affairs Prince Faisal bin Farhan met with his French counterpart Catherine Colonna in Paris on Friday. The diplomats reviewed relations and ways to further develop ties, the Saudi Ministry of Foreign Affairs said in a statement.
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