PIF Executive: Saudi Women Are Partners in the Kingdom’s Development

A recent meeting of the Board of Directors of the Public Investment Fund (PIF), chaired by Saudi Crown Prince Mohammed bin Salman. In the framework, the PIF Secretary General and the Legal Adviser. (Photo: Asharq Al-Awsat)
A recent meeting of the Board of Directors of the Public Investment Fund (PIF), chaired by Saudi Crown Prince Mohammed bin Salman. In the framework, the PIF Secretary General and the Legal Adviser. (Photo: Asharq Al-Awsat)
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PIF Executive: Saudi Women Are Partners in the Kingdom’s Development

A recent meeting of the Board of Directors of the Public Investment Fund (PIF), chaired by Saudi Crown Prince Mohammed bin Salman. In the framework, the PIF Secretary General and the Legal Adviser. (Photo: Asharq Al-Awsat)
A recent meeting of the Board of Directors of the Public Investment Fund (PIF), chaired by Saudi Crown Prince Mohammed bin Salman. In the framework, the PIF Secretary General and the Legal Adviser. (Photo: Asharq Al-Awsat)

Shihana Alazzaz is one of the most prominent Saudi female figures. Today, she occupies a remarkable position in one of the most vital sectors in the country, as the General Legal Counsel and Secretary General of the Board of Directors of the Public Investment Fund (PIF).

In an interview with Asharq Al-Awsat, Alazzaz talked about women’s empowerment in Saudi Arabia and the qualitative shift brought about by the Kingdom’s Vision 2030.

“Today, the Saudi woman is walking at a steady pace and firm determination behind the Custodian of the Two Holy Mosques, an inspiring Crown Prince and an ambitious vision, after overcoming the challenges of the past, with the acceleration of the development of laws and procedures that guarantee her rights and ensure her participation in both economic and societal progress,” she said.

She encouraged Saudi women to actively engage in the development of their country.

“We must continue the march and work with determination without any delay or retreat, to seize the opportunities and enter the labor market with competence, pioneering spirit and open-mindedness that accepts competition and risk,” she underlined.

Asked about the achievements of Saudi female leaders, Alazzaz stressed that societies flourish with the effectiveness of their members, women and men.

“Undoubtedly, the success of women is positively reflected on the family and the entire community, and is considered one of the foundations for advancement and prosperity. Human civilizations, throughout history, have witnessed the positive and inevitable role of women,” she affirmed.

Underlining the importance of Saudi women’s engagement in the Kingdom’s march towards achieving Vision 2030, Alazzaz called on female leaders and entrepreneurs to consolidate their successes and aim for broader horizons.

“Let us imagine what our societies can achieve by stimulating other aspects of women’s engagement in the labor market, economy, entrepreneurship, science, education and research, in addition to their participation in decision-making, drawing strategies, setting policies, strengthening international relations and diplomacy, and other contributions in which women can have a leadership, effective and positive role,” she stated.

According to the PIF secretary-general, the successes of Saudi women in some areas have surpassed their counterparts from all over the world. She emphasized that their names have emerged in the fields of medicine, engineering, literature and others, adding that some of them have received international patents, awards and certificates of appreciation.

Alazzaz told Asharq Al-Awsat that the qualitative shift brought about by Vision 2030 was based on an important strategic principle: “The human being is the change maker in economic and social development. Accordingly, the vision adopted fundamental principles for empowering women socially and economically, making them an efficient partner in the development of the homeland.”

Asked about her role in PIF, she said: “My work in the Public Investment Fund is a professional and patriotic duty in the first place, and a proof of the confidence of our leaders in the national women cadres and the availability of opportunities based on competence without discrimination.”

“We always strive to achieve more, fulfill the aspirations of our leaders, and efficiently cooperate with every colleague and official,” Alazzaz concluded.



Saudi Arabia Reports SAR540 Billion in Services Trade with 7% Annual Growth

Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)
Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)
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Saudi Arabia Reports SAR540 Billion in Services Trade with 7% Annual Growth

Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)
Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)

Saudi Minister of Commerce Dr. Majid Al-Kassabi announced on Wednesday that the Kingdom’s trade in services reached SAR540 billion in 2023, reflecting an annual growth rate of 7%.

Speaking at a panel discussion on Trade in Service at the World Economic Forum in Davos, he underscored the global significance of the services sector, which makes up approximately 65% of the world’s gross domestic product (GDP), 60% of foreign investments, and serves as the largest provider of jobs worldwide, particularly benefiting women.

He emphasized the need for global collaboration to reduce regulatory and procedural obstacles in the services sector, adding that simplifying these systems would boost competitiveness and alleviate burdens on small and medium enterprises (SMEs), thereby raising their economic contribution.

Al-Kassabi outlined Saudi Arabia’s significant investments in digital infrastructure, including SAR93.7 billion already spent and an additional SAR75 billion allocated for future projects.

The investments, he said, aim to support digital transformation, boost businesses, and attract foreign investments.

The Kingdom has partnered with international organizations to establish legislative frameworks that protect investments and advance human resource development and has created a Center for Distinguished Residence to attract skilled talents, he went on to say.

The World Economic Forum emphasized the critical importance of collaboration between the public and private sectors for the future of trade in services. It highlighted its partnership with the National Competitiveness Center on the Facilitating and Developing Trade in Services initiative, which focuses on key sectors such as information and communications technology (ICT), finance, transportation and logistics services, and mining. The sectors are vital as they underpin all economic activities.