World Bank: Saudi Arabia Leads Arab World in Advancing Women's Workforce Participation

Safaa El-Kogali, the World Bank's Country Director for the Gulf Cooperation Council (GCC) countries (Asharq Al-Awsat)
Safaa El-Kogali, the World Bank's Country Director for the Gulf Cooperation Council (GCC) countries (Asharq Al-Awsat)
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World Bank: Saudi Arabia Leads Arab World in Advancing Women's Workforce Participation

Safaa El-Kogali, the World Bank's Country Director for the Gulf Cooperation Council (GCC) countries (Asharq Al-Awsat)
Safaa El-Kogali, the World Bank's Country Director for the Gulf Cooperation Council (GCC) countries (Asharq Al-Awsat)

In a pivotal era marked by remarkable advancements in the economic involvement of women in the Gulf, specifically in Saudi Arabia, Safaa El-Kogali, the World Bank's Country Director for the Gulf Cooperation Council (GCC) countries, underscores the pivotal role of implementing precise policies and programs.

These measures, she contends, are crucial for fostering and sustaining the escalating participation of women in the workforce.

“Firstly, there has been a shift in economic and financial expectations from previous reports,” said El-Kogali as she addressed the novel aspects of this year’s report on women’s employment.

“Secondly, the report includes a new section on women’s participation in the workforce, highlighting a noticeable increase in female participation in the labor force in GCC countries over the past decade,” she added.

However, according to El-Kogali, no country in the GCC or the wider Middle East and North Africa region has experienced such a rapid increase in such a short period as witnessed in Saudi Arabia.

The report delves into developments in Saudi Arabia, where female participation in the workforce more than doubled between 2017 and 2023, rising from 17.4% to 36%.

“It is crucial to note that this increase encompasses various age groups and educational levels, contributing to a decline in overall unemployment rates, particularly among Saudi women,” El-Kogali explained, adding that “the majority of jobs held by Saudi women were in the private sector and spanned across all sectors.”

Attributing the rise in women’s contribution in the Gulf, especially in Saudi Arabia, to three factors, El-Kogali emphasizes that social norms surrounding women’s workforce participation were ready for change due to shifts in societal attitudes, reinforced by the government’s strong commitment and a robust communication campaign regarding women’s economic empowerment.

Moreover, major legal reforms facilitated more women joining the workforce, with new programs promoting women’s employment paving the way for increased female participation.

Another factor, according to El-Kogali, is the structural economic changes that generated a necessary demand for labor from companies willing to hire women.

She noted that the coronavirus pandemic acted as a positive catalyst for the demand for female Saudi workers, creating a fundamental driver for rapid transformation.

On her expectations for the future increase in women’s contribution to the Saudi economy, El-Kogali said: “I am convinced that the changes we have witnessed in recent years are not temporary.”

“The shift is evident across all age groups – it's not just young Saudi women who are more willing to enter the workforce, but also their mothers,” she affirmed.

Highlighting that Saudi women predominantly turn to the private sector across various industries, El-Kogali emphasizes the importance of solidifying policies and programs to sustain the trend of increasing women’s participation in the workforce.

Regarding the necessary steps to maximize Saudi economic contribution, El-Kogali stressed that Saudi Arabia has made significant strides in achieving its goals over the past two years, implementing structural reforms as a testament to the government’s commitment and determination.

“The success achieved in rapidly increasing women’s participation in the workforce is just one example of what the Kingdom is doing, laying the groundwork for its desired goals,” said El-Kogali.

“Similarly, we observe a divergence between the oil and non-oil sectors in Saudi Arabia, with the oil sector contracting by 8.4%, while the latter expands by 4.3%, showcasing robust efforts in economic diversification,” she highlighted.

The Country Director also emphasized that current economic results in Saudi Arabia reflect the fruits of ongoing exceptional efforts within the diversification agenda aligned with the Kingdom’s national plan for transformation, “Vision 2030.”

El-Kogali underscored the importance of Saudi Arabia remaining committed to the path of reforms and diversification.



Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
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Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)

Egypt announced plans on Monday for a new $1 billion marina, hotel and housing development on the Red Sea in a bid to boost the region's tourist industry.

Construction on the "Monte Galala Towers and Marina" project would ‌start in ‌the second ‌half ⁠of the ‌year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.

The 10-tower development - a partnership with the ⁠housing ministry and other state bodies ‌including the armed ‍forces' engineering authority - ‍would cost about 50 ‍billion Egyptian pounds ($1.07 billion), he added.

The project, also announced by the cabinet, will cover 470,000 square meters on the Gulf of Suez, about ⁠35 km south of Ain Sokhna, Shalaby said.

Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.


Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
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Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA

The Saudi-Polish Investment Forum was held today at the headquarters of the Federation of Saudi Chambers in Riyadh, with the participation of Minister of Investment Khalid Al-Falih, Minister of Finance of the Republic of Poland Andrzej Domański, and Vice President of the Federation of Saudi Chambers Emad Al-Fakhri.

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation, expanding investment partnerships in priority sectors, and exploring high-quality investment opportunities that support sustainable growth in Saudi Arabia and Poland.

During a dedicated session, the forum reviewed economic and investment prospects in both countries through presentations highlighting promising opportunities, investment enablers, and supportive legislative environments.

Several specialized roundtables addressed strategic themes, including the development of the digital economy, with a focus on information and communication technologies (ICT), financial technologies (fintech), and artificial intelligence-driven innovation, SPA reported.

Discussions also covered the development of agricultural value chains from production to market access through advanced technologies, food processing, and agricultural machinery. In addition, participants examined ways to enhance the construction sector by developing systems and materials, improving execution efficiency, and accelerating delivery timelines. Energy security issues and the role of industrial sectors in supporting economic transformation and sustainability were also discussed.

The forum witnessed the announcement of two major investment agreements. The first aims to establish a framework for joint cooperation in supporting investment, exchanging information and expertise, and organizing joint business events to strengthen institutional partnerships.

The second agreement focuses on supporting reciprocal investments through the development of financing and insurance tools and the stimulation of joint ventures to boost investment flows.

The forum concluded by emphasizing the importance of continued coordination and dialogue between the public and private sectors in both countries to deepen Saudi-Polish economic relations and advance shared interests.


Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.

Spot gold rose 1.2% to $5,018.56 per ounce by 9:30 a.m. ET (1430 GMT), extending a 4% rally from Friday.

US gold futures for April delivery also gained 1.3% to $5,042.20 per ounce.

The US dollar fell 0.8% to a more than one-week low, making greenback-priced bullion cheaper for overseas buyers.

"The big mover today (in gold prices) is the US dollar," said Bart Melek, global head of commodity strategy at TD Securities, adding that expectations are growing for weak economic data, particularly on the labor front, Reuters reported.

Investors are closely watching this week's release of US nonfarm payrolls, consumer prices and initial jobless claims for fresh signals on monetary policy, with markets already pricing in at least two rate cuts of 25 basis points in 2026.

US nonfarm payrolls are expected to have risen by 70,000 in January, according to a Reuters poll.

Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

"The debasement trade continues, with ongoing geopolitical risks driving people into gold," Melek said, adding that China's purchases have had a psychological impact on the market.

Spot silver climbed 2.9% to $80.22 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

Spot platinum was down 0.2% at $2,092.95 per ounce, while palladium was steady at $1,707.25.

"A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum and palladium will possibly slow down," after a bullish run in 2025, WisdomTree commodities strategist Nitesh Shah said.