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GOVERNMENT

Saudi crown prince’s India visit to boost bilateral investment
February 21, 2019

Many Indian businesses that already operate in the Kingdom are interested in expanding as part of Vision 2030. Retail company Lulu Group International, for example, plans to open 12 new hypermarkets and five malls in Saudi Arabia by next year.

It already employs more than 2,700 Saudi nationals and plans to increase this number to about 5,000 by 2020.

“Saudi"...

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MENA F&B sales on track to top $171.2bn by 2023 as Gulfood 2019 opens
February 18, 2019

DUBAI — Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, opened Sunday Gulfood 2019, the 24th edition of the world’s largest annual food and beverage trade show at Dubai World Trade Centre (DWTC).

The five-day mega exhibition, which runs until Thursday 21 February, has once again attracted high-calibre interest including ministers, top trade envoys and national organizations from the four corners of"...

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Spanish meat industry chiefs host Saudi trade mission
February 13, 2019

A top-level business delegation from Saudi Arabia took part in a five-day trade mission to Spain focusing on the meat industry.
The trip, hosted by the Spanish meat production sector’s Interprofessional Organization of Beef Cattle (Provacuno), followed a reciprocal visit to the Kingdom last year.
Representatives of the Saudi media and meat trade toured farms, feed mills, slaughterhouses, and meat markets in and around the Spanish capital Madrid,"...

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Saudi Arabia to spend $3.8bn to enhance mineral exploration
February 7, 2019

CAPE TOWN: Saudi Arabia will invest around $3.8 billion to enhance access to geoscience data and reduce regulatory red tape as it looks to boost mineral exploration, senior government officials said on Wednesday.
Government plans to jump-start the Saudi mining sector form part of a broader industrial strategy aimed at diversifying the economy and attracting private-sector investments worth 1.6 trillion riyals ($426 billion) over the next decade.
Investments"...

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Saudi Crown Prince to launch $425 billion infrastructure plan
January 28, 2019

Saudi Arabia is seeking $425 billion in investment by 2030 for infrastructure as well as energy, mining and other industrial projects, as part of an effort to cut its reliance on oil, Energy Minister Khalid Al-Falih said Saturday in Riyadh.

Crown Prince Mohammed bin Salman, who is behind reforms known as Vision 2030, will present details of the infrastructure plan on Monday. The kingdom"...

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King Salman sends ministerial delegation to Sudan
January 26, 2019

Custodian of the Two Holy Mosques King Salman has sent a Saudi ministerial delegation to the Republic of Sudan in solidarity with it in the face of current economic challenges, Saudi Press Agency (SPA) said Friday.

Sudan President Omar Hassan Al-Bashir received, at the Guest House, the Saudi ministerial delegation including Minister of Commerce and Investment Dr. Majid Bin Abdullah Al-Qasabi;"...

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Saudi maritime sector offers investment opportunities as country seeks diversification
January 24, 2019

RIYADH — Saudi Arabia’s maritime and logistics sector is set to provide a host of fresh investment opportunities that will enable the Kingdom’s integration into the regional and global economies as a hub connecting three continents – Asia, Europe and Africa, and positioning the country as a global logistics hub.

In fact, the country is on an aggressive growth and diversification path, seeking completely to transform its economy"...

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