Developing Human Capital in the Saudi Industrial Field

Saudi officials after signing a memorandum of cooperation to develop human capital in the industrial field (Asharq Al-Awsat)
Saudi officials after signing a memorandum of cooperation to develop human capital in the industrial field (Asharq Al-Awsat)
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Developing Human Capital in the Saudi Industrial Field

Saudi officials after signing a memorandum of cooperation to develop human capital in the industrial field (Asharq Al-Awsat)
Saudi officials after signing a memorandum of cooperation to develop human capital in the industrial field (Asharq Al-Awsat)

The Saudi Industrial Investments Company (Dussur), in cooperation with the Human Resources Development Fund (Hadaf), seeks to develop human capital in the industrial field, unify efforts, enhance collaboration in finding solutions, and address the challenges facing national cadres in the sector.

Dussur signed a memorandum of cooperation with Hadaf in the presence of Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Industry and Mineral Resources Bandar al-Khorayef, Minister of Education Hamad al-Sheikh, and several officials.

The memorandum of cooperation stipulated the development of human capital to serve the industrial field, identify training needs, and provide support programs in line with them.

It also launched initiatives to qualify job seekers with skills, most notably the basics of employment, technical, engineering, and professional skills, designing and implementing activities related to employment in the sector.

Crown Prince Mohammad bin Salman launched the Human Capacity Development Program to develop human capabilities and achieve the objectives of Vision 2030.

The Program aims to ensure that citizens have the required capabilities to compete globally by instilling values, developing primary and future skills, and enhancing knowledge.

It seeks to develop a solid educational base for all citizens and instill values early on while preparing the youth for the future local and global labor market.

It also focuses on upskilling citizens by providing lifelong learning opportunities, supporting innovation and entrepreneurship culture, and developing and activating policies to ensure Saudi competitiveness.

The Crown Prince stressed that the Human Capability Development Program represents a national strategy to enhance the competitiveness of national human capabilities locally and globally to be ready for the current and future labor market with abilities and ambitions.

The Program aims to ensure that citizens have the required capabilities to compete globally by instilling values, developing primary and future skills, and enhancing knowledge.

It includes 89 initiatives aimed at achieving 16 strategic objectives of Vision 2030.

The strategy includes three main pillars: develop a resilient and robust educational base, prepare for the future labor market locally and globally, and provide lifelong learning opportunities.

The Program's initiatives will include promoting the expansion of kindergartens, which will help to develop a resilient and robust educational base for all children. It entails career guidance and counseling initiative as well to provide citizens with the capabilities and skills necessary to plan their career objectives.

Human capacity development focuses on preparing and rehabilitating human capabilities in Saudi Arabia, developing the human capacity development system from early childhood to lifelong learning, developing education outputs to align them with the needs of the current and future labor market, and localizing high-skilled jobs through the rehabilitation and training of citizens, in addition to activating.

The Program will aim to achieve several goals, including increasing kindergarten enrollment from 23 percent to 90 percent and placing two Saudi universities among the top 100 universities in the world by 2030.



Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)
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Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)

Saudi Arabia’s Public Investment Fund has fully allocated the proceeds of its green bond issuance, directing $9 billion to eligible projects, in a move that highlights the sovereign wealth fund’s growing role in shaping a more sustainable future and delivering lasting positive impact worldwide.

According to a recent report issued by the Public Investment Fund, reviewed by Asharq Al-Awsat, the expected impact of the fund’s eligible green projects includes generating 427 megawatts of renewable energy, avoiding emissions equivalent to 5.1 million tons of carbon dioxide, and treating 4 million cubic meters of wastewater.

The Public Investment Fund aims to establish itself as an active participant in global debt markets, while also fostering the development of a dynamic domestic market. This would enable the fund to access short- or long-term liquidity through a diverse range of financing instruments.

Financing strategy

The fund’s capital markets program aims to further strengthen its financing strategy and execution capabilities, both at the level of the Saudi sovereign wealth fund and across its portfolio companies, while enabling deeper engagement with global and local debt markets.

The program will also support expanding the fund’s capacity to raise debt and deploy it as a source of investment financing, in line with its overall funding strategy. This approach is designed to instill greater discipline in cash flow management and enhance returns on equity for the fund and its portfolio companies.

The green bond issuance will provide the fund with access to a broader pool of investors who prioritize environmental, social, and governance considerations in their investment decisions. It will also allow investors to diversify their portfolios through green assets, a step expected to help accelerate the pace of green investment globally.

Climate change

The fund has taken concrete steps to advance governance and policy, focusing on sustainability, and is a founding member of the One Planet Sovereign Wealth Funds initiative. This international platform aims to accelerate the integration of climate change considerations into asset management decisions and investment opportunities.

As an investment vehicle, the Public Investment Fund operates through acquiring stakes in companies aligned with its mandate, including ACWA Power and Lucid.

It has also established the Saudi Investment Recycling Company, a leader in waste management and recycling, manages the National Energy Services Company, Tarshid, and supports the creation of a voluntary carbon market in the Middle East and North Africa.

These efforts aim to strengthen Saudi Arabia’s position as one of the world’s most energy-efficient countries.

The green bond issuance will finance tangible projects on the ground, helping to accelerate the green transition and advance the Kingdom’s core targets of achieving net zero emissions by 2060 and generating 50 percent of electricity consumption from renewable energy sources by 2030.

This forms a key pillar of the renewable energy program implemented by the fund, which involves developing 70 percent of renewable power generation capacity.


Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
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Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion.

The surge in sales represents a 68% year-on-year increase, totaling about SAR12.4 billion more than the SAR18.3 billion recorded in October 2024, according to the Saudi Central Bank (SAMA) statistical bulletin on Wednesday.

E-commerce sales for the third quarter (Q3) of 2025 hit SAR88.3 billion, up 15.2% from the previous quarter, representing an increase of about SAR11.6 billion over the SAR76.6 billion recorded in Q2.

On a monthly basis, e-commerce sales in October rose 6%, gaining approximately SAR1.6 billion over September’s total of SAR29.1 billion.

From January to October, "mada" data showed e-commerce sales grew 47.3%, rising by around SAR9.9 billion over the SAR20.9 billion recorded in January.

These figures cover transactions made via "mada" cards on e-commerce websites, apps, and digital wallets, and do not include credit-card payments.


Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
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Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between Jeddah and Vnukovo International Airport.

This initiative, in partnership with the Saudi Tourism Authority and the Air Connectivity Program, boosts air links between Saudi Arabia and Russia.

It marks KAIA's third direct Russian destination, following Makhachkala and Mineralnye Vody, which were inaugurated earlier this month by Azimuth Airlines.

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location.