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Saudi Arabia: Quality of Life Program 2020 Broadens Economy's Productivity

Governor of Saudi Arabian General Investment Authority (SAGIA) Eng. Ibrahim al-Omar (SPA)
Governor of Saudi Arabian General Investment Authority (SAGIA) Eng. Ibrahim al-Omar (SPA)
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Saudi Arabia: Quality of Life Program 2020 Broadens Economy's Productivity

Governor of Saudi Arabian General Investment Authority (SAGIA) Eng. Ibrahim al-Omar (SPA)
Governor of Saudi Arabian General Investment Authority (SAGIA) Eng. Ibrahim al-Omar (SPA)

Council of Economic and Development Affairs launched the "Quality of Life Program 2020" with a total expenditure of SR130 billion and aims at achieving 20 percent growth in gross domestic product, according to Governor of Saudi Arabian General Investment Authority (SAGIA) Eng. Ibrahim al-Omar.

The Program also contributes to local content in the relevant sectors by 67 percent as one of the outcomes of Vision 2030 and its multiple achievements with its three axes: "more prosperous economy, vibrant Saudi society, and ambitious country."

The engineer noted the positive impact of the Program in encouraging the private sector and foreign investors to invest in many vital markets related to improving the quality of life.

The main objective of the Program is to increase the involvement of the private sector in the development of the strategy by improving participation in vital areas that require high capital expenditures, and the return on investment is initially low, encouraging private sector investment in the future, indicated Omar.

Quality of Life 2020 aspires to provide economic and investment opportunities for sustainable growth and development. Creative industries have proved to be key drivers of economic growth around the world. There are many opportunities for these sectors to thrive in the Kingdom; number of funding models will be developed in order to stimulate the private sector to invest, in both capital expenditures and operating expenses.

The Program contributes to the development and diversification of entertainment opportunities in the Kingdom in order to provide various activities to suit all society segments in different regions.

To achieve this goal, the Program encourages the private sector and foreign investors to play a major role in various sectors, namely the entertainment sector which is considered one of the sectors targeted in the strategy of the General Authority for Investment.

To achieve this, the Program seeks to create a water park, 3 theme parks and 16 family entertainment centers by 2020.

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Business

Tourism Projects Worth $9 Billion Being Implemented in Saudi Arabia’s Eastern Province

The Saudi Minister of Tourism, along with the President of Aramco, tours the King Abdulaziz Center for World Culture in the Eastern Province. Asharq Al-Awsat
The Saudi Minister of Tourism, along with the President of Aramco, tours the King Abdulaziz Center for World Culture in the Eastern Province. Asharq Al-Awsat
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Tourism Projects Worth $9 Billion Being Implemented in Saudi Arabia’s Eastern Province

The Saudi Minister of Tourism, along with the President of Aramco, tours the King Abdulaziz Center for World Culture in the Eastern Province. Asharq Al-Awsat
The Saudi Minister of Tourism, along with the President of Aramco, tours the King Abdulaziz Center for World Culture in the Eastern Province. Asharq Al-Awsat

The Eastern Province is expected to witness the implementation of more than 650 tourism projects valued at over SAR12.7 billion (approximately $3.39 billion).

With the addition of investments in new projects exceeding SAR21 billion ($5.6 billion), total tourism investments amount to around SAR33.7 billion (nearly $9 billion), reflecting a growth in the sector.

Saudi Minister of Tourism Ahmed Al-Khateeb said tourism investments in the region are experiencing qualitative growth, adding that the Eastern Province enjoys competitive advantages that make it attractive for tourism investment.

The minister said the region has achieved positive results in sector performance, welcoming more than 13.4 million tourists whose spending exceeded SAR18.5 billion ($4.9 billion), underscoring the rising demand for tourism services.

Tourism Diversity

Al-Khateeb revealed that more than 650 approved tourism projects would contribute to improved tourism, in addition to strengthening partnerships and supporting private sector participation. This, he said, reflects the rapid growth pace and the achievements that the tourism sector in the Eastern Province has witnessed.

High-quality projects in the region enhance competitiveness, supported by the Tourism Development Fund, said Al-Khateeb. These projects contribute to improving quality of life and offering integrated visitor experiences, reinforcing the region’s position as a leading tourist destination on the Arabian Gulf coast, he added.

The minister met with Eastern Province’s tourism employees, who briefed him on promising opportunities and made proposals aimed at developing career paths for workers in the sector.

Al Khobar Season

Al Khobar Season 2025 has achieved remarkable success since its launch, featuring a seasonal program spanning nearly 90 days. Supported by the Sharqia Development Authority and the Saudi Tourism Authority, the season hosted events across more than 20 locations, attracting over one million visitors and involving more than 50 partners from the private sector.

Al Khobar Season enhances the Eastern Province’s status as a major tourism and entertainment destination through experiences that blend entertainment, culture, arts, and sports. This contributes to improving quality of life, achieving the objectives of Saudi Vision 2030, and developing the tourism sector.

Business

Saudi Exports Development Authority Organizes Trade Mission to Syria, Iraq 

Officials are seen during one of the visits to a Saudi company. (Saudi Exports Development Authority on X)
Officials are seen during one of the visits to a Saudi company. (Saudi Exports Development Authority on X)
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Saudi Exports Development Authority Organizes Trade Mission to Syria, Iraq 

Officials are seen during one of the visits to a Saudi company. (Saudi Exports Development Authority on X)
Officials are seen during one of the visits to a Saudi company. (Saudi Exports Development Authority on X)

The Saudi Exports Development Authority (SAUDI EXPORTS) organized a trade mission for Iraq and Syria in conjunction with the Made in Saudi Expo 2025 in Riyadh, reported the Saudi Press Agency on Tuesday.

The missions involved 87 Saudi exporters and 32 importing companies, representing key sectors including construction, food products, medical supplies, and packaging industries.

A series of business-matching meetings were held to explore opportunities for cooperation and trade partnerships.

The meetings and bilateral discussions held alongside the exhibition resulted in the signing of seven trade agreements, reflecting the quality and competitiveness of Saudi products.

This was followed by an orientation tour for the visiting trade delegation of the Saudi companies’ pavilions to explore the latest national innovations and products.

Business

Modi Invites Jordanian Companies to Invest in India

Modi speaks at the India-Jordan Business Forum in Amman on Tuesday (X)
Modi speaks at the India-Jordan Business Forum in Amman on Tuesday (X)
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Modi Invites Jordanian Companies to Invest in India

Modi speaks at the India-Jordan Business Forum in Amman on Tuesday (X)
Modi speaks at the India-Jordan Business Forum in Amman on Tuesday (X)

Indian Prime Minister Narendra Modi on Tuesday invited Jordanian companies to invest in India, saying they can look forward to good returns on their investments as the country is growing at over 8%.

Speaking at the India-Jordan Business Forum meet here, Modi said India is soon going to become the third-largest economy in the world, and presents opportunities for Jordanian companies to become part of the growth story, according to news agency Press Trust of India.

The PM said his country’s high GDP numbers are due to productivity-driven governance and innovation-led growth policies.

Modi also said numbers are important in the universe of business, but he has come to Jordan to build a long-term relationship between the two nations.

“The relationship between India and Jordan is one where historical trust and future economic opportunities come together,” he noted.

India is growing at a fast pace, and new doors of opportunities are opening for Jordanian companies as well, the PM added.

“You (Jordan) can become a partner in India's high growth and earn good returns on your investments,” Modi said.

Indian companies in Jordan can manufacture medicines and medical devices. This will benefit the people of Jordan, and the country can also become a reliable hub for West Asia and Africa, he said.

While highlighting potential sectors of bilateral cooperation, Modi said India has a lot of experience in farming in dry climates.

“This experience of ours can make a real difference in Jordan. We can work on solutions like precision farming and micro-irrigation. We can also collaborate on building cold chains, food parks, and storage facilities,” he added.

Modi arrived in Jordan's capital, Amman, on Monday on a two-day visit at the invitation of King Abdullah II. Jordan is the first leg of the Prime Minister's four-day, three-nation tour, which will also take him to Ethiopia and Oman.