Riyadh Expo 2030 to Introduce Packages Supporting Participation of Developing Nations

A map illustrating the proposed location of the Riyadh Expo 2030 exhibition in the northern part of the Saudi capital, Riyadh. (Asharq Al-Awsat)
A map illustrating the proposed location of the Riyadh Expo 2030 exhibition in the northern part of the Saudi capital, Riyadh. (Asharq Al-Awsat)
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Riyadh Expo 2030 to Introduce Packages Supporting Participation of Developing Nations

A map illustrating the proposed location of the Riyadh Expo 2030 exhibition in the northern part of the Saudi capital, Riyadh. (Asharq Al-Awsat)
A map illustrating the proposed location of the Riyadh Expo 2030 exhibition in the northern part of the Saudi capital, Riyadh. (Asharq Al-Awsat)

The proposed site in the Saudi capital for hosting the Riyadh Expo 2030 has been divided into four zones based on the exhibition’s three sub-themes, sources familiar with the bid to host the exhibition told Asharq Al-Awsat.

The sub-themes are “Prosperity for All,” “Climate Action,” and “A Different Tomorrow.” The fourth zone, however, is linked to the Kingdom’s main development plan, Vision 2030.

Each of these zones features a main pavilion covering a total area of approximately 3.4 square kilometers.

Participating countries will also have the option to construct their own pavilions or rent pre-existing structures.

In an ambitious effort to accommodate all nations at the Expo, Riyadh’s bid targets participation from 196 countries, in addition to Saudi Arabia and 29 international organizations.

This goal, while ambitious, appears achievable, considering factors such as Dubai’s hosting of Expo 2020, which welcomed 192 countries.

The organizing committee for Riyadh Expo 2030 has identified 100 qualified countries to receive dedicated facilities within a set of packages, which will be announced by the first quarter of 2030.

These packages aim to support the participation of nations lacking the necessary financial resources to cover all expenses related to their involvement in the exhibition, with selection criteria based on factors such as multilateral agreements, urban populations, and tourism appeal.

Riyadh Expo 2030 aims to empower developing nations to take the lead, offering a platform for them to showcase more compelling cultural content.

Additionally, it will provide an ideal stage for companies, sectors, and governments to promote themselves, attracting business, investment, and visitors.

Furthermore, the exhibition will allocate spaces for each region within the Expo to host their programs of events, informing participating countries and visitors about scientific, cultural, commercial, and investment opportunities.

Riyadh’s chances of winning the bid to host the Expo are on the rise, with the addition of new countries to the list of supporters.

This includes several African nations and Iran, as confirmed by Iran’s Foreign Minister, Hossein Amir-Abdollahian, following his visit to the Kingdom in mid-August.



Egypt’s Sovereign Wealth Fund CEO Resigns

A farmer carries a box of mangoes in Ismailia, Egypt (Reuters)
A farmer carries a box of mangoes in Ismailia, Egypt (Reuters)
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Egypt’s Sovereign Wealth Fund CEO Resigns

A farmer carries a box of mangoes in Ismailia, Egypt (Reuters)
A farmer carries a box of mangoes in Ismailia, Egypt (Reuters)

The head of the Sovereign Fund of Egypt (TSFE), Ayman Soliman, has resigned, informed Egyptian sources revealed on Thursday.
They said Soliman resigned last June, around the time of the July ministerial shuffle, with his final working day set for the end of August.
A bill was already sent to the Egyptian House of Representatives to discuss transferring the Fund’s affiliation to the Prime Minister's Office.
In February 2019, Egypt formed the sovereign wealth fund to take control of some of the government's most promising assets in industries such as power and real estate, to bring in private investors to develop them.
Soliman was appointed as head of the fund in 2019 for an initial three-year term that was subsequently extended.
His resignation had been anticipated, with one government source saying the country's political leadership wanted to introduce fresh faces into key positions as part of a broader reshuffle, according to Reuters.
As of July, the Fund oversees approximately $12 billion in assets. It has attained the 48th position in the top 100 largest sovereign funds by total assets.
TSFE currently runs and operates five sub-funds: Infrastructure and Utilities Sub-Fund, Healthcare and Pharmaceuticals Sub-Fund, Tourism, Real Estate and Antiquities Sub-Fund, Financial Services and Fintech Sub-Fund, and Asset Management and Restructuring Sub-Fund.

Separately, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Thursday that Egypt’s unemployment rate fell to 6.5% in the second quarter (Q2) of 2024, nearly a 0.2% decrease compared to Q1.
In May, government data showed that during Q1 of 2024, the labor force was estimated to consist of 31.397 million individuals, reflecting a 1.0% increase from the previous quarter's 31.101 million individuals. Of this total, 13.758 million individuals were part of the urban labor force, while 17.639 million individuals were part of the rural labor force.