New Saudi Initiative Supports Exporters, Stimulates Economic Sustainability in South

The Cluster 2 Company, in cooperation with the Saudi SAL Logistics Services Company and Saudia Cargo, announced on Tuesday the launch of the initiative that aims to encourage and increase Saudi Arabia’s exports of agricultural crops. (Photo: SAL)
The Cluster 2 Company, in cooperation with the Saudi SAL Logistics Services Company and Saudia Cargo, announced on Tuesday the launch of the initiative that aims to encourage and increase Saudi Arabia’s exports of agricultural crops. (Photo: SAL)
TT

New Saudi Initiative Supports Exporters, Stimulates Economic Sustainability in South

The Cluster 2 Company, in cooperation with the Saudi SAL Logistics Services Company and Saudia Cargo, announced on Tuesday the launch of the initiative that aims to encourage and increase Saudi Arabia’s exports of agricultural crops. (Photo: SAL)
The Cluster 2 Company, in cooperation with the Saudi SAL Logistics Services Company and Saudia Cargo, announced on Tuesday the launch of the initiative that aims to encourage and increase Saudi Arabia’s exports of agricultural crops. (Photo: SAL)

In line with the ongoing efforts towards strengthening and sustaining the local economy and expanding trade exchange in the region, the Cluster 2 Company announced a new initiative aimed at supporting farmers and exporters in Jazan, south of the Kingdom.

Jazan is considered one of the most important agricultural regions in the Kingdom, thanks to its arable soil and groundwater. The city is also home to basic and transformational industries, and an ideal center for the growth of business and manufacturing industries.

The Cluster 2 Company, in cooperation with the Saudi SAL Logistics Services Company and Saudia Cargo, announced on Tuesday the launch of the initiative that aims to encourage and increase Saudi Arabia’s exports of agricultural crops, and to support farmers and exporters in the region, specifically during the current 2024 mango season.

In remarks to Asharq Al-Awsat, Logistics specialist Nashmi Al-Harbi pointed to the importance of this initiative, in terms of reducing export fees, which in turn will help increase the export volume and expand the access of national products to local and international markets.

He added that Jazan City for Basic and Transformative Industries represents a qualitative leap in terms of economic development in the southern region.

Al-Harbi noted that the new initiative was consistent with the objectives of the National Strategy for Transport and Logistics Services, both in improving goods and shipping services, as well as advancing the Kingdom’s ranking on logistics services performance indicators and ensuring its leadership regionally.

Jazan is known for seven important sectors, including agriculture in greenhouses, sustainable evergreen and deciduous fruit trees, the manufacture of agricultural products and their accessories, as well as crops, services, agricultural equipment, natural plants, flowers and roses, and vertical agriculture.

As the Jazan region is a major home to the world’s most famous Arabica coffee, the Public Investment Fund (PIF) announced in May 2022 the launch of the Saudi Coffee Company, with the aim of supporting the local coffee and elevating it to global ranks.

The Cluster 2 Company manages and operates 22 international, tourist and domestic airports in the Kingdom, by applying the best experiences, engaging the private sector, attracting local and international investments to enhance the customer experience, as well as improving sustainable infrastructure, and providing valuable benefits for beneficiaries.

SAL is a national facility specialized in providing ground handling services for air cargo and logistical solutions in the Kingdom. It handles 95 percent of the volume of air shipments at airports, making it a major driver in the development of this sector, according to Vision 2030.



Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
TT

Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)

The third edition of the “Mirkaz ABalad AlAmeen”, a leading platform for exchanging opportunities in Makkah, will kick off on Sunday, under the theme “Makkah Inspires the World.”

The platform, organized by the Holy Makkah Municipality, will feature 15 exceptional Ramadan evenings focused on dialogue, knowledge exchange, and cross-sector engagement.

Makkah Mayor Musad Aldaood said the platform redefines development from Makkah, where faith meets inspiration and values are transformed into a comprehensive civilizational experience.

He noted that the initiative reflects the ambitions of Saudi Vision 2030 and showcases Makkah to the world as a living model of creativity, leadership, and innovation.

The upcoming edition will host more than 65 speakers, including executive leaders and decision-makers from across all three sectors, alongside futurists, entrepreneurs, and leading voices in culture and inspiration from artists, writers, media professionals, and innovators.

The program targets 12 key sectors: technology and digital transformation, financial investment, communications and media, real estate development, transport and logistics, banking services, youth and sports, tourism and culture, hospitality and catering, Hajj and Umrah, the third sector, and healthcare.


Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
TT

Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)

The Saudi Ports Authority (Mawani) granted on Thursday a unified license to international shipping line Global Shipping Line (PIL), officially recognizing it as an authorized foreign investor to operate maritime agencies in the Kingdom's ports, reported the Saudi Press Agency.

The license is issued in accordance with the regulations outlined in the Maritime Agency Services, reflecting Mawani's commitment to boosting the efficiency of the maritime sector and improving the quality of operational services provided at ports.

It aims to attract global expertise and facilitate knowledge transfer within the Kingdom, aligning with international best practices in the maritime transport industry.

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector.

PIL, which operates from its regional headquarters in Riyadh, manages operations in 29 countries.

The move strengthens the Kingdom's position as a crucial logistics hub, in line with the National Transport and Logistics Strategy, while attracting more international shipping lines. It reinforces Saudi Arabia's role as a key link among three continents.


IMF: Restoring Lebanon's Economic Growth Will Require Comprehensive Reforms

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
TT

IMF: Restoring Lebanon's Economic Growth Will Require Comprehensive Reforms

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo

Lebanon's economy has shown resilience despite conflicts in the region, with tourism fueling a bit of a rebound, but restoring growth will require comprehensive reforms, the International Monetary Fund said on Thursday.

IMF spokeswoman Julie Kozack said the global lender remains engaged in complex discussions with Lebanese ‌authorities following their ‌request for an IMF-supported ‌program ⁠in March 2025. The ⁠IMF sent a staff mission to Beirut earlier this month, said Reuters.

The talks have been focused on two big issues, she said, citing the need for banking sector restructuring and a medium-term fiscal ⁠strategy. "The economy has shown resilience ‌despite the impact ‌of conflicts in the region. It has had ‌a bit of a rebound ‌on the back of tourism from the strong diaspora," Kozack said.

"But at the same time, really restoring strong and sustainable growth will ‌require a comprehensive set of reforms to tackle some of the ⁠structural ⁠weaknesses that have really hampered Lebanon's economic performance for many years," she said. Reforms also are needed to attract international support to help Lebanon address its substantial reconstruction needs.

Kozack said Lebanon needs an updated medium-term fiscal framework that includes concrete measures to mobilize additional revenues for much-needed capital spending, as well as a sovereign debt restructuring to restore debt sustainability.