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Saudi Arabia Plans to Privatize Grain Silos

Saudi Grain Silos (Asharq Al-Awsat)
Saudi Grain Silos (Asharq Al-Awsat)
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Saudi Arabia Plans to Privatize Grain Silos

Saudi Grain Silos (Asharq Al-Awsat)
Saudi Grain Silos (Asharq Al-Awsat)

Saudi Arabia is planning to sell its grain silos as part of the kingdom's privatization drive after the sales of the flour mills last month were completed with great success.

Bloomberg reported that the state-owned Saudi Grains Organization (SGO) aims to start selling silo sites as soon as this year.

SAGO will seek bids from foreign and local firms; however, no decisions have been made and SAGO may retain the assets, according to people familiar with the matter.

In April, the National Center for Privatization (NCP) and SAGO announced that the third milling company was sold to investors, bringing the total sale of the four companies to $2 billion.

Meanwhile, the Ministry of Industry and Mineral Resources launched a digital platform Monday, which it said facilitates access to all services through several channels and electronic services in the easiest way and the latest technology.

The Ministry pointed out the digital platform comes as the ministry seeks to facilitate the work of industry and mining partners.

The platform has several advantages: the speedy completion of services, saving time and effort, making the latest information and statistics available to researchers and investors, and facilitating access to the ministry’s services, according to the Ministry.

In other news, Almarai company announced new investments worth $1.7 billion aiming to double the production operations in poultry in the Kingdom through three phases until 2026.

These investments will increase the company’s share of chilled chicken, along with increasing its production and share of frozen poultry.

The company’s market share currently stands at about 34 percent in chilled poultry, and 12 percent of the total sector.

The production after investment will increase to 450 million birds per year, while the Kingdom's imports of the poultry sector are nearly 45 percent.

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.