Day: May 16, 2022

Saudi-Thai Investment Forum Promotes Joint Investment and Trade Ties

Riyadh — The Ministry of Investment in Riyadh organized today the Saudi-Thai Investment Forum, with the participation of the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, the Thai Deputy Prime Minister and Foreign Minister Don Pramudwina…

Riyadh -- The Ministry of Investment in Riyadh organized today the Saudi-Thai Investment Forum, with the participation of the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, the Thai Deputy Prime Minister and Foreign Minister Don Pramudwinai, Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs and Minister of Industry Bandar Al-Khorayef, as well as a wide range of representatives of government agencies, the Federation of Saudi Chambers, and representatives of the private sector and companies from the two countries.

The Minister of Investment said the forum comes as an extension of relations after the meeting of HRH Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, and Minister of Defense, with the Thai Prime Minister, General Prayut Chan-ocha, earlier this year, adding that the Saudi-Thai Investment Forum aims to advance economic relations between the two sides to broader horizons, as the two countries enjoy vast investment and trade opportunities, and great human and natural resources.

He called on investors and leading Thai companies to visit the Kingdom and get acquainted with investment opportunities in all sectors, as the Kingdom has a competitive and attractive investment environment that provides opportunities with rewarding returns for investors, highlighting that the Kingdom of Saudi Arabia, in light of the Kingdom's Vision 2030, has developed the business environment by implementing a large package of reforms that exceeded 500 reforms, including the enactment of regulations and legislation per international best practices.

The work of the forum witnessed the signing of seven memoranda of understanding between the two sides, including four MoUs between the Ministry of Investment and the Thai side, in addition to a MoU by the Diriyah Gate Development Authority and another MoU by the Federation of Saudi Chambers, in addition to signing a MoU by a private sector company with the Thai side to enhance trade and investment between the Kingdom and Thailand, through cooperation and investment in petrochemicals, oil and gas, tourism, and hospitality, which reflects efforts to strengthen partnership and cooperation between the two countries.

The forum also included brainstorming sessions that discussed several topics aimed at enabling the private sector to access investment opportunities, linking quality investment opportunities with Saudi and Thai companies, in addition to strengthening and developing cooperation in all fields and projects. The event also included bilateral meetings between representatives from the two sides’ private sectors to be more acquainted with the developments in the investment environment in the Kingdom and Thailand.

The forum is part of the two sides’ efforts to develop relations between them and explores the prospects for investment and trade opportunities in all fields, as it witnessed remarkable participation of the Saudi and Thai investors and pioneering companies.

Source: Saudi Press Agency

Saudi Stock Exchange Main Index Ends Trading Lower at 12,914.89 Points

Riyadh — Saudi Stock Exchange’s main index ended trading lower here today, losing 234.40 points to close at 12,914.89 points.The total value of the trading reported was SAR 9 billion, while the toll of shares traded was over 174 million, divided into …

Riyadh -- Saudi Stock Exchange's main index ended trading lower here today, losing 234.40 points to close at 12,914.89 points.

The total value of the trading reported was SAR 9 billion, while the toll of shares traded was over 174 million, divided into over 405,000 deals.

The Saudi Parallel Equity Market Index (NOMU) ended the day losing 304.60 points, to close at 22,540.87 points, with a valuation of SAR 38 million and an overall tally of more than 717,000 stocks traded and divided into as many as 2,302 deals.

Source: Saudi Press Agency

IsDB Group Private Sector Institutions Organize 10th Private Sector Forum

Jeddah — The Islamic Development Bank Group (IsDB Group) will host the “Private Sector Forum” which will be organized by the private sector institutions of the Islamic Development Bank Group and held on June 2-4, 2022, in Sharm El-Sheikh, Egypt, on th…

Jeddah -- The Islamic Development Bank Group (IsDB Group) will host the “Private Sector Forum” which will be organized by the private sector institutions of the Islamic Development Bank Group and held on June 2-4, 2022, in Sharm El-Sheikh, Egypt, on the sidelines of the IsDB Board of Governors Annual Meetings.

The main objective of the Forum is to provide a unique platform to network and establish business relations and partnerships with other leading representatives and stakeholders from business community in order to share their related experience, success stories and best practices, while jointly exploring investment and trade opportunities offered by member countries. The forum will also highlight the IsDB Group activities, services and initiatives in member countries. It will also connect business communities in member countries by arranging parallel B2B and B2G scheduled meetings. The Forum will gather more than 2,500 participants from multiple sectors across the globe such as government officials, Chairmen, Presidents & CEOs of local and international companies, multilateral and financial institutions, chambers of commerce and industry, business associations, investment promotion agencies, individual investors, entrepreneurs, hundreds of policies and decision-makers, as well as the Governors of the Islamic Development Bank and other participants from various sectors from all over the world will attend and participate in the forum.

For more information, please visit the event’s website: www.isdbg-psf.org

Source: Saudi Press Agency

Neom Company: Neom City is Economic Zone Subject to Saudi Arabia Sovereignty, Regulations; Denies Comments on its Organizational Status

Neom — Neom Company, affiliated with Public Investment Fund, stressed that Neom city is a special economic zone that is subject to the sovereignty and regulations of the Kingdom of Saudi Arabia and is subject to all rules that are applied to any part …

Neom -- Neom Company, affiliated with Public Investment Fund, stressed that Neom city is a special economic zone that is subject to the sovereignty and regulations of the Kingdom of Saudi Arabia and is subject to all rules that are applied to any part of the Kingdom of Saudi Arabia in terms of issues related to security, defense and border protection.

The company strongly denied comments made by Head of the Tourism sector at Neom Andrew McEvoy regarding the city's organizational status according to the description attributed to him and mentioned in one of his interviews with a regional newspaper.

The company said that Neom city will enjoy some special regulations related to investment as per its strategy as part of the Saudi Vision 2030 under the supervision of His Royal Highness the Crown Prince, Chairman of the Board of Directors of the Public Investment Fund and Chairman of Board of Directors of Neom Company, to make the future city an effective drive in supporting the economy of the Kingdom of Saudi Arabia and prosperity of the region.

Source: Saudi Press Agency

German Consul in Jeddah Visits International Islamic Fiqh Academy

Jeddah– The Consul General of the Federal Republic of Germany in Jeddah, and concurrently the Special Envoy of the Federal Republic of Germany to the OIC, Dr. Eltje Aderhold underlined her country’s keenness to consolidate partnership and joint dialog…

Jeddah-- The Consul General of the Federal Republic of Germany in Jeddah, and concurrently the Special Envoy of the Federal Republic of Germany to the OIC, Dr. Eltje Aderhold underlined her country's keenness to consolidate partnership and joint dialogue with the OIC on various issues of mutual concern.

The German diplomat's statement was made during her visit yesterday to the International Islamic Fiqh Academy (IIFA) where she invited IIFAA to participate in the second round of the strategic dialogue of talks between OIC and Germany, which will be held during the second half of 2022 in Berlin.

For his part, IIFA Secretary-General Dr. Koutoub Moustapha Sano, said the meeting marks the beginning of distinguished relations of cooperation and coordination between IIFA and the authorities supervising religious affairs in Germany, welcoming cooperation and coordination in studying issues related to Islamophobia, extremism, and peaceful coexistence between religions and peoples.

Source: Saudi Press Agency

Security Patrols in Jazan Arrest Two Persons in Possession of (56) Kilograms of Qat

Jazan– The patrols of the security regiments in Jazan region have arrested two citizens in possession of (56) kilograms of the narcotic Qat in Al-Dayer Governorate.The culprits were arrested, legal measures were taken against them, and they were refer…

Jazan-- The patrols of the security regiments in Jazan region have arrested two citizens in possession of (56) kilograms of the narcotic Qat in Al-Dayer Governorate.

The culprits were arrested, legal measures were taken against them, and they were referred to the competent authority.

Source: Saudi Press Agency