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SABIC Hosts First Boao Forum for Asia in Riyadh on Monday

Saudi capital, Riyadh (SPA)
Saudi capital, Riyadh (SPA)
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SABIC Hosts First Boao Forum for Asia in Riyadh on Monday

Saudi capital, Riyadh (SPA)
Saudi capital, Riyadh (SPA)

The Saudi Basic Industries Corporation (SABIC) will host in Riyadh on Monday the first Boao Forum for Asia conference under the theme “Energy Transformation for a Sustainable Future” to boost international cooperation and increase integration among various sectors.
Building on its 16-year strategic partnership with the forum, SABIC remains committed to enhancing cooperation among companies and countries linked to product value chains, a statement from the corporation said.
In addition to supporting the annual conferences, SABIC has also participated in several related conferences, including the “Science, Technology, and Innovation Forum” and the “Global Economic Development and Security Forum” under the Boao Forum for Asia, where SABIC shared its rich expertise in innovation and sustainability.
SABIC has enhanced its commitment to the Chinese market in recent years through the forum's leading role in promoting regional cooperation and sustainable and comprehensive growth.
It has collaborated with local partners to expand its presence since its entry into the country in the 1980s.
SABIC is dedicated to supporting high-quality economic development in China by offering more innovative solutions covering the entire value chain.
It has increased its activity in renewable energy applications in China to facilitate its transition towards sustainable development through an innovation-based strategy, which also forms a significant part of the company's global roadmap towards carbon neutrality.
As a leader in the chemical industry, SABIC seeks to support the transition in the energy sector towards a sustainable future by enhancing cooperation and innovation.
It is worth noting that China continues to adopt further economic reforms and enhance the Sino-Saudi strategic partnership, and SABIC continues to benefit from the Boao Forum for Asia as a prominent platform to enhance its participation in various industries and contribute to the strategic integration between China's Belt and Road Initiative and Saudi Vision 2030.

 

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Saudi Social Development Bank Surpasses $43.2 Billion in Total Financing

Prince Faisal bin Bandar bin Abdulaziz during the launch of “Jada 30” at the Social Development Bank’s 53rd anniversary celebration (Asharq Al-Awsat)
Prince Faisal bin Bandar bin Abdulaziz during the launch of “Jada 30” at the Social Development Bank’s 53rd anniversary celebration (Asharq Al-Awsat)
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Saudi Social Development Bank Surpasses $43.2 Billion in Total Financing

Prince Faisal bin Bandar bin Abdulaziz during the launch of “Jada 30” at the Social Development Bank’s 53rd anniversary celebration (Asharq Al-Awsat)
Prince Faisal bin Bandar bin Abdulaziz during the launch of “Jada 30” at the Social Development Bank’s 53rd anniversary celebration (Asharq Al-Awsat)

The Saudi Social Development Bank has announced that its total financing since inception has exceeded SAR162 billion (USD43.2 billion), benefiting more than 10 million citizens and playing a vital role in the Kingdom’s social and economic transformation.

The announcement was made by Minister of Human Resources and Social Development and Chairman of the Bank’s Board, Eng. Ahmed Al-Rajhi, during the bank’s 53rd anniversary celebration held on Monday in Riyadh.

The event was held under the patronage and in the presence of Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region, and marked the launch of the “Jada 30” initiative.

Prince Faisal commended the bank’s achievements over the past five decades, highlighting its impact in empowering citizens and advancing national development goals in line with Saudi Vision 2030.

In turn, Al-Rajhi emphasized the bank’s ongoing commitment to supporting development pathways and empowering individuals and communities. He reaffirmed the bank’s role as a key driver of financial and social inclusion across the Kingdom.

As part of the celebration, the bank unveiled “Jada 30,” a new initiative designed to foster entrepreneurship and support small and emerging businesses. Bank CEO Eng. Sultan bin Abdulaziz Al-Humaidi described it as a strategic leap forward in enhancing the entrepreneurial environment.

“Jada 30” transforms traditional bank branches into dynamic development hubs and business incubators, aimed at nurturing a vibrant entrepreneurial ecosystem. The initiative provides a comprehensive range of services - including financing, training, and mentorship - to help entrepreneurs launch and scale their businesses.

Since its launch, “Jada 30” has hosted in Riyadh more than 300 startups and supported over 5,800 participants, underscoring its tangible impact on youth empowerment and the promotion of a self-employment culture.

The event also witnessed the signing of several key development agreements, including a partnership with the General Authority for Awqaf and the Charitable Associations Support Fund to establish a SAR50 million financing portfolio to boost the nonprofit sector.

Further, the bank signed two agreements with Arab National Bank and Banque Saudi Fransi to create a combined SAR100 million in financing portfolios aimed at supporting entrepreneurs and emerging enterprises.

Additional agreements were inked with Alinma Bank and Arab National Bank to launch a new Freelance Work Card, offering freelancers greater access to banking services and financing options.