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Saudi Tourism Development Fund Launches AWN Tourism and Hospitality Program 

The Saudi Tourism Development Fund launches the AWN Tourism and Hospitality program to support small and micro tourism businesses in the Kingdom. (SPA)
The Saudi Tourism Development Fund launches the AWN Tourism and Hospitality program to support small and micro tourism businesses in the Kingdom. (SPA)
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Saudi Tourism Development Fund Launches AWN Tourism and Hospitality Program 

The Saudi Tourism Development Fund launches the AWN Tourism and Hospitality program to support small and micro tourism businesses in the Kingdom. (SPA)
The Saudi Tourism Development Fund launches the AWN Tourism and Hospitality program to support small and micro tourism businesses in the Kingdom. (SPA)

The Saudi Tourism Development Fund (TDF) launched on Monday the AWN Tourism and Hospitality program to support small and micro tourism businesses in the Kingdom with the resources they need to realize their objectives and aspirations within the tourism industry, reported the Saudi Press Agency. 

The program aims to support new tourism establishments and remodel the existing ones by leveraging the flexible financing solutions provided by TDF, with allocations of up to 10 million Saudi riyals, and a repayment period of up to 10 years.  

Along with commercial franchising, the initiative will provide the targeted projects the tools they need to meet their needs in the areas of accommodation, restaurants and cafes, and entertainment. 

CEO of TDF Qusai Al-Fakhri, said: “This program aims to unlock the potential of small and micro tourism businesses. Small business owners, too, have great business ideas; all they need from time to time is motivation and financial support to thrive.” 

“We are confident our new initiative will give them this opportunity while encouraging knowledge sharing, entrepreneurship, and job creation in the Kingdom.” 

TDF has previously launched several support programs and financing solutions to assist small and micro tourism development projects in meeting their needs and creating investment opportunities to maximize their long-term impact.  

The pre-financing program by the Tourism Development Center is the first innovative and free educational opportunity for entrepreneurs to support and transform their ideas into sustainable businesses.  

The AWN Tourism Experiences program, designed for tour operators, event organizers, and cultural tourism product providers, offers financing solutions and products with easier mechanisms. 

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PepsiCo: $2.4 Billion Has Been Invested in Saudi Arabia

The inauguration of PepsiCo’s new regional headquarters in Riyadh.
The inauguration of PepsiCo’s new regional headquarters in Riyadh.
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PepsiCo: $2.4 Billion Has Been Invested in Saudi Arabia

The inauguration of PepsiCo’s new regional headquarters in Riyadh.
The inauguration of PepsiCo’s new regional headquarters in Riyadh.

US multinational food and beverage giant PepsiCo announced the launch of a new research and development center in Riyadh, as part of its strategic expansion across the Middle East.

With an investment of SAR 30 million (approximately $8 million), the center will be the largest of its kind in the Gulf region and will focus on developing new products tailored to local and regional consumer preferences.

The announcement came during the inauguration of PepsiCo’s new regional headquarters in the Saudi capital, underscoring the company’s long-term commitment to the Kingdom. Since 2017, PepsiCo has invested SAR 9 billion ($2.4 billion) in Saudi Arabia’s agriculture and food industries.

The company has grown its operational footprint to 86 sites and, in collaboration with local partners, has helped generate approximately 9,000 jobs—highlighting its role in advancing economic, industrial, and social development across the Kingdom.

Ahmed El-Sheikh, President and General Manager of PepsiCo Foods for the Middle East, North Africa, and Pakistan, told Asharq Al-Awsat that PepsiCo is deeply engaged in the agriculture, manufacturing, and trade sectors.

“We are investing in expanding agricultural output, and our Lay’s potato chips are now 100% locally sourced. Through modern irrigation techniques, we’ve also reduced agricultural water consumption by 22% in recent years,” he said.

El-Sheikh revealed that PepsiCo has committed SAR 300 million to its Dammam-based factory and an additional SAR 300 million to its new regional office and expanded R&D operations. Several of the company’s products manufactured in Saudi Arabia are now exported to Gulf and Levant markets.

“Choosing Saudi Arabia was a natural move, as it is the largest economy in the Middle East,” he said. The company worked closely with key ministries—including investment, industry, and environment—to facilitate the launch of its new headquarters, he went on to say.

The Riyadh office will oversee operations across the Gulf and Africa. El-Sheikh noted that PepsiCo had received wide-ranging support from the Saudi government, citing recent regulatory reforms that have made the investment climate increasingly favorable. Saudization within the company has reached 50% across all departments.

Mohamed Shelbaya, PepsiCo’s General Manager for Beverages in MENA, said Vision 2030 continues to draw major foreign investments by eliminating barriers, updating regulations, and offering incentives. “Saudi Arabia offers one of the region’s strongest investment cases, thanks to its large population, young demographic, and rapidly growing economy,” he stressed.

Shelbaya also spoke on PepsiCo’s commitment to innovation amid growing competition in the local market. “We are opening an R&D division to create new flavors that suit Saudi tastes, with potential for global expansion,” he said. “We’re also working with the government on localizing manufacturing inputs to lower costs and increase local investor participation.”

 

 

The inauguration of PepsiCo’s new regional headquarters in Riyadh.