Mawani and Abyat Sign an Agreement for a Regional Logistics Center at King Abdulaziz Port

Riyadh– The Saudi Ports Authority (Mawani) has signed an agreement with Abyat, one of the leading GCC companies specialized in finishing and furnishing materials, to build a regional logistics center at King Abdulaziz Port in Dammam for distribution a…

Riyadh-- The Saudi Ports Authority (Mawani) has signed an agreement with Abyat, one of the leading GCC companies specialized in finishing and furnishing materials, to build a regional logistics center at King Abdulaziz Port in Dammam for distribution and assembly, over an area exceeding 81k m2 and more than SAR 100 million worth of investment.

The agreement was signed by H.E Mr. Omar Talal Hariri, President of Mawani, and Mr. Yasser Hassan Abul, Chairman of Abyat with the presence of senior executives from both sides.

“The agreement reflects the Authority’s efforts in utilizing Saudi ports’ location which is positioned on international trade lines, to create regional centers for distribution and shipping, along with facilitating the supply chain and trade in the region.” said H.E Mr. Hariri.

He added: “King Abdulaziz Port’s strategic location creates competitiveness for investors who are interested in building integrated logistics centers that provide value-added services, as part Mawani’s initiatives which align with the objectives of the National Transport and Logistics Strategy as well as Saudi Vision 2030.”

While Mr. Yasser Hassan Abul expressed his enthusiasm over the partnership with Mawani to build a regional center that supports Abyat’s logistics operations at King Abdulaziz Port in Dammam, especially when the port is strategically positioned on international trade lines, noting that as per the agreement, the center will be developed in the supporting services area at the port to provide all the necessary services according to the best quality and safety standards.

As Mawani continues the efforts of transforming the 19 km2 port, which has been linked to Riyadh Dry Port, to provide integrated operational services, with 43 multipurpose berths, and the capacity of 105 million tons, King Abdulaziz Port is equipped to receive the largest vessels, and handle different types cargoes, as well as containing a container terminal, two general cargo terminals, and ancillary terminals, while having ship repair yard which contains two floating docks capable of accommodating vessels of up to 215 meters.

While Mawani manages nine state-of-the-art ports that are strategically positioned to connect Asia, Europe, and Africa, as they represent a gateway for international trade, and influence the maritime traffic, as Mawani’s corporate strategy aims to increase Saudi ports ranking on the Logistics Performance Index, expand the container throughput capacity, and position Saudi Arabia as global logistics hub.

Source: Saudi Press Agency

SDRPY Launches Project to Rehabilitate Haijat Al-Abed Road

Taiz– The Saudi Development and Reconstruction Program for Yemen (SDRPY) has launched the project to rehabilitate Haijat Al-Abed Road, which is considered a vital road and main street connecting Taiz Governorate with other governorates, where the road…

Taiz-- The Saudi Development and Reconstruction Program for Yemen (SDRPY) has launched the project to rehabilitate Haijat Al-Abed Road, which is considered a vital road and main street connecting Taiz Governorate with other governorates, where the road enjoys high importance in the lives of five million Yemenis over almost nine kilometers.

Taiz Governor Nabil Shamsan said that this road is part of a series of development projects implemented by the SDRPY, where this project is vital for connecting Taiz, Lahej and Aden governorates.

Laheh Governor Major General Ahmad Abdullah Turki expressed his appreciation and gratitude to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, stressing that launching this project aims at limiting the suffering of several Yemeni citizens, noting that the road is a main street that provides access to service, individuals, international organizations and health and educational services.

Source: Saudi Press Agency

Saudi Fund for Development Receives Delegation from UN-Habitat

Riyadh- Saudi Fund for Development (SFD) in its headquarters today received a delegation from the United Nations Human Settlement Program (UN-Habitat), headed by Regional Representative for Arab Countries Erfan Ali who was accompanied by Director of th…

Riyadh- Saudi Fund for Development (SFD) in its headquarters today received a delegation from the United Nations Human Settlement Program (UN-Habitat), headed by Regional Representative for Arab Countries Erfan Ali who was accompanied by Director of the Program in the Kingdom of Saudi Arabia Dr. Ayman Al-Hafnawi and Regional Representative for Africa Omar Sylla, in addition to other officials.

Discussions included issues of mutual interest, including development projects in developing countries, cooperation lines between SFD and the program, where the UN delegates delivered a briefing on its projects in enhancing the sustainable development for human settlements in social and environmental fields and providing roper shelter for developing societies.

During the visit, the UN delegates praised the Kingdom of Saudi Arabia’s efforts in development work that extends for several years and the deep relations between SFD and UN programs that benefited millions of people around the work, noting that this cooperation has contributed to alleviating the difficult circumstances in all countries.

Source: Saudi Press Agency

SAMA Governor, CMA Chairman Express Gratitude to Saudi Leadership for Approving FinTech Strategy

Riyadh– Fahad Almubarak, governor of Saudi Central Bank (SAMA) and Mohammed Elkuwaiz, chairman of Capital Market Authority (CMA) expressed their gratitude and appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud and…

Riyadh-- Fahad Almubarak, governor of Saudi Central Bank (SAMA) and Mohammed Elkuwaiz, chairman of Capital Market Authority (CMA) expressed their gratitude and appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud and His Royal Highness Mohammad bin Salman, the Crown Prince, Deputy Prime Minister and Minister of Defense (May Allah protect them), for approving the FinTech Strategy by the Council of Ministers’ decision. This is in line with the supreme directive for the Kingdom of Saudi Arabia to be among the leading countries in the field of fintech, with Riyadh becoming a global tech hub. This strategy is included as a new pillar within the Saudi Vision 2030's Financial Sector Development Program (FSDP), which is aimed at developing the national economy, diversifying sources of income and enabling financial institutions to support private sector growth by giving new companies the opportunity to provide financial services.

On this occasion, Almubarak emphasized that the financial sector is going through rapid changes, especially in the fintech industry, which necessitates swift and collaborative action to keep pace with such changes, noting that the implementation of this strategy requires cooperation and joint efforts from all relevant stakeholders. On the same note, Elkuwaiz asserted that Fintech Strategy was designed to be comprehensive and supportive to all fintech-related activities through multiple transformational drivers that include several initiatives aimed at developing fintech infrastructure and enabling financial sector and its beneficiaries.

The strategy comprises six key transformational drivers, which are: highlighting the Saudi identity globally, strengthening the regulatory framework,

supporting the sector, developing human resources, advancing technical infrastructure and enhancing cooperation at the local and global levels. These transformational drivers contain 11 initiatives, which will help strengthen Saudi Arabia's position globally in the field of fintech, and supporting the kingdom’s GDP by creating additional job and investment opportunities by 2030.

Fintech strategy was designed within the FSDP through collaborative efforts among the following entities: SAMA, CMA, Ministry of Finance, Ministry of Communications and Information Technology, Ministry of Investment, the Small and Medium Enterprises General Authority (Monsha’at), and Fintech Saudi. The shared vision of those entities is to achieve global competitiveness and make Saudi Arabia a fintech hub where technology-based innovation in financial services is the foundation for enhancing the economic empowerment of individuals and society.

Source: Saudi Press Agency

Saudi Physics Team Wins 3 Global Awards in 2022 European Olympiad

Riyadh– The Saudi physics team has continued its achievements through winning 3 global awards in the 6th European Physics Olympiad (EuPhO 2022) that was hosted in Slovenia between May 20 and 24, among 182 students representing 37 countries, where the …

Riyadh-- The Saudi physics team has continued its achievements through winning 3 global awards in the 6th European Physics Olympiad (EuPhO 2022) that was hosted in Slovenia between May 20 and 24, among 182 students representing 37 countries, where the Kingdom of Saudi Arabia, represented by the King Abdulaziz and His Companions Foundation for Giftedness and Creativity (Mawhiba) and the Ministry of Education, increased its awards to 13, where student Sadeq Al-Abbad of the Riyadh Education achieved the bronze medal, student Mohammed Al-Barakat of the Eastern Education won an appreciation certificate, and student Hussein Qadah of Jeddah Education won another certificate of appreciation.

Mawhiba Acting Secretary General Dr. Amal Al-Hazza said: “This achievement is added to a series of achievements by Saudis in international events," stressing that Saudi students with their talents and competition capabilities have succeeded in winning awards, and noting that Mawhiba works hard to empower talented Saudis through a system of skills and efficiencies according to the latest methods of exploring and caring for talented people around the world and contributing to realizing the Kingdom Vision 2030.

Source: Saudi Press Agency

KSrelief Distributes 4,000 Food Baskets in Berbera District, Somaliland

Hargeisa– King Salman Humanitarian Aid and Relief Center (KSrelief) distributed yesterday 4,000 food baskets in Berbera District, Somaliland, benefiting 24,000 individuals.This comes within the framework of the relief and humanitarian efforts provided…

Hargeisa-- King Salman Humanitarian Aid and Relief Center (KSrelief) distributed yesterday 4,000 food baskets in Berbera District, Somaliland, benefiting 24,000 individuals.

This comes within the framework of the relief and humanitarian efforts provided by the Kingdom of Saudi Arabia, represented by the KSrelief, to many needy and affected countries and peoples.

Source: Saudi Press Agency