Saudi Arabia Latest News

Riyadh Season Opens

GEA Chairman announced that the 2024 Riyadh Season will open on October 12, covering 14 major entertainment areas with a total area of more than 7.2 million square meters.LED display plays a huge role in this.

The 2024 Riyadh Season will include 11 world championships, 10 exhibitions and various festivals. Among them, Kingdom Arena has been expanded by 40% to accommodate more than 27,000 spectators. The first match will usher in the boxing peak duel between Artur Beterbiev and Dmitry Bivol, and the second match between Tyson Fury and Oleksandr Usyk will ignite the whole audience. The new "The Venue" area, which was completed in 50 days, brings together tennis superstars and fashion feasts, leading the trend.

In addition, Boulevard World has added five new country zones, bringing the total to 19 zones, and the catering and retail industry has also been fully upgraded. Boulevard City activities have increased by 70%, and there is also a stand-up comedy night led by Martin Lawrence from the "Bad Boys" series of movies. Anime and game enthusiasts can also feast their eyes here. The giant dinosaur exhibition, paddle tennis experience, etc., immersive experience the interactive fun brought by the LED display screen allows every visitor to find exclusive fun.

In addition, VIA Riyadh will be fully air-conditioned and open all year round, and high-end experiences such as the Christian Dior exhibition will be launched soon. The winter "Arabian Dunes" area will create an immersive adventure park for desert fans. The dog festival, zoo activities and cultural exhibitions will also meet the needs of different groups of people and convey social positive energy.

The Deputy Minister of Saudi Tourism leads the innovation storm

The Deputy Minister of Saudi Tourism has led a storm of innovation in tourism education and training. She announced the launch of a comprehensive institutional certification program to significantly improve the education quality and training effects of the tourism industry and ensure that the course content is seamlessly connected with market demand. This plan is large-scale and will deeply evaluate 102 tourism education and training projects across the country. The evaluation work will be jointly carried out by authoritative organizations such as the United Nations Tourism Organization to ensure the professionalism and fairness of the evaluation results. The plan has clear goals. Not only will it achieve a number of specific goals by 2024, such as 31 projects obtaining international and domestic certifications and 200 trainers obtaining professional certificates, but it will also focus on the long-term and be committed to comprehensively improving the international competitiveness of Saudi tourism.

Saudi Ministry of Industry announces trial run of Senaei

The Saudi Ministry of Industry and Mineral Resources has launched a trial version of the smartphone application Senaei, a new digital platform designed to provide the Ministry’s e-services. This application supports partners and industrial entrepreneurs in developing their facilities and products, as well as monitoring their industrial requests.

Senaei provides a simplified experience for industrial investors, allowing them to join the industrial system, access e-services and incentives, view facility details, track submitted requests, manage user accounts, and print industrial licenses. Users can also open tickets directly for inquiries or requests, receive notifications and alerts, and access awareness announcements and incentives, saving time and effort.

In addition, the Ministry is actively pursuing several key benefits through digital transformation, including improved investor access to services, fourth industrial revolution applications, and automation of industrial facilities. These initiatives aim to position Saudi Arabia as a global industrial leader by promoting innovation, leveraging advanced technologies, and building a competitive, sustainable industrial economy rooted in cutting-edge manufacturing.

The app can be downloaded at the following link:

https://apps.apple.com/sa/app/senaei-%D8%B5%D9%86%D8%A7%D8%B9%D9%8A/id6503656816

Saudi General Authority for Statistics Launches New Business Process Model

The Saudi General Authority for Statistics (GASTAT) issued a press release announcing the release of the updated national version of the General Statistical Business Process Model (GSBPM). The model serves as a methodological framework for statistical work in Saudi Arabia and is the main reference for the publication of statistical data by government and private institutions and is adopted by the General Authority for Statistics.

The national version of the GSBPM released this time is consistent with the international version and was published by the United Nations Economic Commission for Europe. It aims to improve the quality of all stages of the statistical process, standardize the workflow of statistical production, and strengthen the quality and effectiveness of statistics in line with the goals of Saudi Vision 2030.

The updated model includes terms, definitions and details on all stages of statistical production, from needs identification to design, data collection, processing, analysis, dissemination and evaluation, aligning Saudi statistical work with the methodologies of many international statistical agencies and promoting coordination among various sectors in the statistical field.

In addition, GASTAT has made the model available in Arabic and English on its official website for download and use by statisticians, researchers, government and private institutions and other interested parties. Customers can also contact the agency for more information and model explanations.

Saudi Arabia opens applications for managed security operations centers

The National Cybersecurity Authority (NCA) announced the opening of applications for licenses for managed security operations centers (MSOC) services in Saudi Arabia. The move is part of the NCA's strategic goals to develop the cybersecurity sector, provide a supportive environment to stimulate investment in the cybersecurity market, and increase competitiveness. These will help improve the services provided to national organizations.

The NCA said that starting from Wednesday, August 28, applications for MSOC licenses will be accepted through the "Haseen" National Cybersecurity Services Portal "Haseen" for 60 days.

The granting of the service license contributes to the goals of the National Cybersecurity Strategy to strengthen the Kingdom’s cybersecurity and build an integrated cybersecurity ecosystem to meet the growing demand for cybersecurity services. This move will allow for the development of dedicated national capabilities and enable national organizations to access reliable, mature and high-quality cybersecurity services. NCA has published more details on its website, including an “Investor Guide” to explain the journey for investors and service providers in the cybersecurity field, at:

nca.gov.sa/en/registration-and-licensing

The NCA invites providers who wish to provide MSOC services in Saudi Arabia to meet the requirements set out in the “Regulatory Framework for Licensing Managed Security Operations Center Services” and apply for a license through the Haseen portal.

AVANA and Oaktree Establish $250 Million Financing Partnership

AVANA Companies, a global leader in hotel and SME financing, announced the establishment of a $250 million joint venture, AVANA-Oaktree Private Credit Partnership (AOPCP), with Oaktree Capital Management to provide private debt financing in the United States. This partnership builds on the expertise and risk control experience of both parties in the field of CRE financing. On this basis, AVANA plans to replicate this successful model in Saudi Arabia through its partner Ezdaher Financing Company. Ezdaher will leverage AVANA's 22 years of experience to launch an innovative B2B (business-to-business) hotel financing fintech solution, committed to closing Saudi Arabia's $250 billion funding gap and supporting the development of the 310,000 hotel rooms needed by 2030. Ezdaher's CEO said that the platform's fintech solutions have been successful in the United States for more than two decades and will now promote the development of hotels and SMEs in Saudi Arabia. Ezdaher is close to obtaining approval from the Saudi Central Bank and has received preliminary registration and pre-licensing. Patel invites MENA institutions to join in building a prosperous future for Saudi SMEs. For more information, visit www.ezdaher.sa or www.avanacompanies.com.

Saudi Arabia to Host Internet Governance Forum

Saudi Arabia will host the 19th Internet Governance Forum (IGF) at the King Abdulaziz International Conference Center in Riyadh from December 15 to 19, 2024. The five-day event is expected to gather more than 10,000 participants from 160 countries, including more than 1,000 international speakers. The IGF is a global multi-stakeholder platform. The event has been held by the United Nations since 2006 to promote discussions on public policy issues related to the Internet, promote information sharing, exchange of experiences and efforts to propose solutions. The forum aims to reach consensus on policies to strengthen global Internet governance among governments, the private sector and non-profit organizations. In addition, the forum will be attended by technology companies, digital entrepreneurs and all interested individuals. Registration and other information are available on the official IGF website: https://igfriyadh2024.sa

Saudi Arabia to host the fourth Future Minerals Forum

Saudi Arabia confirms fourth Future Minerals Forum (FMF) to be held in Riyadh from January 14 to 16, 2025. As the world's top mineral exchange platform, FMF, with the theme of "Achieving Impact", aims to deepen cooperation among mineral producing countries, jointly seek a path to sustainable development, and build a resilient supply chain for global critical minerals. This forum will bring together global mining elites, from government to business, from finance to academia, to jointly discuss industry challenges and opportunities, stimulate investment vitality, and promote technological innovation and cooperation. The highlights of the forum include a ministerial roundtable meeting, which brought together representatives from 100 countries to discuss major issues; working groups collaborated to promote the implementation of previous initiatives; and in-depth discussions on cutting-edge topics such as the potential of new mining areas, investment attraction, community contribution and clean energy applications.