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.



Oil Prices Set to End Week Higher on US Demand Optimism

File photo: Hawk Dunlap, an oil well control specialist, and Sarah Stogner, an oil and gas lawyer, survey an excavated pumpjack with a leaking surface casing in Ward County, Texas, US, August 6, 2024. REUTERS/Adrees Latif
File photo: Hawk Dunlap, an oil well control specialist, and Sarah Stogner, an oil and gas lawyer, survey an excavated pumpjack with a leaking surface casing in Ward County, Texas, US, August 6, 2024. REUTERS/Adrees Latif
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Oil Prices Set to End Week Higher on US Demand Optimism

File photo: Hawk Dunlap, an oil well control specialist, and Sarah Stogner, an oil and gas lawyer, survey an excavated pumpjack with a leaking surface casing in Ward County, Texas, US, August 6, 2024. REUTERS/Adrees Latif
File photo: Hawk Dunlap, an oil well control specialist, and Sarah Stogner, an oil and gas lawyer, survey an excavated pumpjack with a leaking surface casing in Ward County, Texas, US, August 6, 2024. REUTERS/Adrees Latif

Oil prices were set for a second straight week of gains despite edging lower on Friday, as recent US economic data boosted optimism over demand in the world's top oil consumer.
Brent crude futures looked set for a 1.3% weekly rise, while US West Texas Intermediate crude futures had increased about 1.2%. On Friday, Brent fell 30 cents, or 0.4%, to $80.74 per barrel by 0528 GMT, while the WTI fell 40 cents, or 0.5%, to $77.76.
US retail sales data on Thursday beat analysts' expectations, while separate data showed fewer Americans had filed new applications for unemployment benefits last week, sparking renewed optimism around US economic growth.
"Crude oil reversed recent losses as positive economic data and supply side concerns boosted investor sentiment," analysts at ANZ Research said.
Analysts at consultancy FGE said oil markets would now return their focus to geopolitics, amid warnings of retaliatory attacks from Iran against Israel over the killing of a Hamas leader in Tehran.
A fresh round of negotiations began on Thursday to secure a ceasefire in the Gaza war, even as Israeli troops continued their assault on the Palestinian enclave.
The talks, which have been boycotted by Hamas, were extended and will resume in the Qatari capital Doha on Friday.
Keeping a lid on oil prices, Chinese refineries sharply lowered crude processing rates last month on tepid fuel demand.
The Organization of the Petroleum Exporting Countries (OPEC) on Monday pared its demand outlook for this year citing softer expectations for China.
"Despite crude oil inventories rising last week, gasoline and distillate demand remains strong. This doesn't appear to be the case in China, with apparent oil demand falling 8% y/y in July," ANZ analysts said.