Saudi: Industrial cities in Qassim operate at 77% capacity
The value of industrial investments in the region during the first quarter of 2025 amounts to SR700 million, with Buraidah owning the largest share.
Bin Salamah made the remarks during a meeting organized by Qassim Chamber of Commerce, which brought together investors in the region's industrial sector to highlight key ministerial services and programs and discuss the sector's aspirations for continued development and investment growth. The meeting was held at the chamber's headquarters in Buraidah.
The meeting addressed a number of topics related to the industrial sector, including standard incentives for the sector, which enhance the competitiveness and sustainability of the industrial sector in Saudi Arabia. The meeting also discussed the environment of industrial facilities and presented solutions to help raise efficiency and quality.
It also included a review of the Future Factories Program, an introduction to it, and the process of converting these factories to adopt modern manufacturing practices, automation, and digitalization, which directly contributes to the development of the industrial sector in Saudi Arabia in general.
The meeting also included a review of the "Industry Links" program of the General Administration of Localization and Local Content, which connects manufacturers with major projects to achieve the goals of the national strategy for increasing local content.
© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
18 minutes ago
- Khaleej Times
UAE: Sharjah taps Indian market growth with 2,000 new company registrations in 2024
Sharjah cemented its position as a top investment hub for Indian businesses, with nearly 2,000 new Indian companies joining the Sharjah Chamber of Commerce and Industry (SCCI) in 2024 alone. This brings the total number of Indian firms registered with the Chamber to around 20,000 — a significant 30 per cent increase compared to 2023. Abdallah Sultan Al Owais, Chairman of the SCCI, made the announcement at the Sharjah–India Business Forum in Mumbai, marking the first leg of the Chamber's trade mission to India. Organised by the SCCI and led by the Sharjah Exports Development Centre (SEDC), the forum brought together 15 Sharjah-based companies representing various economic sectors. The aim was to boost cross-border collaboration and highlight the emirate's economic potential to Indian investors. In his remarks, Al Owais described Sharjah as a strategic investment destination offering 'fully integrated competitive advantages". He emphasised that Indian companies play a vital role in the emirate's economic ecosystem. Sharjah's export and re-export volume to India totalled approximately Dh576 million, as documented through certificates of origin issued by the Chamber. Investor-friendly legal framework The event highlighted Sharjah's push to attract more Indian investors by showcasing the emirate's investor-friendly legal framework, developed infrastructure, diverse industrial zones, and high-potential sectors. During his keynote address, Al Owais expressed gratitude to the Indian business community, highlighting the strong and longstanding economic ties between the UAE and India. In 2024, the UAE ranked as India's third-largest trading partner, with non-oil trade between the two nations exceeding Dh240 billion — a 20.5 per cent increase from Dh199.3 billion in 2023. 'Mumbai boasts a strong economic foundation rooted in financial services, information technology, trade, and maritime shipping. It stands out as a strategic gateway for UAE businesses to explore and capitalise on high-potential investment opportunities across these vital sectors," said Al Owais. "This forum represents a key milestone in advancing bilateral business collaboration and enhancing joint efforts to grow trade and investment volumes,' he added. Fostering partnerships The forum featured a series of business-to-business (B2B) meetings and networking opportunities aimed at fostering partnerships across key sectors. The delegation also presented Sharjah's economic offerings, with Ali Abdullah Al Jari, Director of the SEDC, giving an overview of the emirate's advanced infrastructure and investor incentives. The trade mission will continue in Ahmedabad, Gujarat, until July 11. There, the delegation will host another business forum and hold meetings with Indian chambers of commerce to build on the momentum established in Mumbai. The mission supports the broader goals of the UAE–India Comprehensive Economic Partnership Agreement (Cepa), which aims to raise non-oil bilateral trade to $100 billion by 2030.
Zawya
34 minutes ago
- Zawya
STC group advances to A in MSCI ESG ratings, strengthening global sustainability position
Morgan Stanley Capital International (MSCI), an investment research firm and a leading global Environmental, Social, and Governance (ESG) index provider, has upgraded stc group from 'BBB' in 2024 to 'A' in 2025 in its latest ESG ratings, marking a significant leap for the leading digital enabler from the 2024 rankings. stc group is now among the top 31% of telecom companies worldwide to receive an 'A' rating, out of a total of 62 telecom companies ranked by MSCI. This ranking reflects the group's consistent progress in embedding sustainability, governance, and transparency across its operations. In the MSCI report, findings on stc group's improvements highlighted strengths in data privacy and cybersecurity. This included a comprehensive framework for external IT audits, robust emergency response protocols, and continuous oversight at the highest levels of the group's digital infrastructure. The data protection strengths extended across stc's supply chain and tailored training for employees and contractors. Commenting on the ranking, Olayan Alwetaid, stc group's CEO remarked: 'This upgrade reflects stc group's sustainable growth and strong commitment to the highest ESG standards. It also recognizes our leading role and our positive contribution to advancing sustainability and transparency globally.' It is noted that the classification of the stc group in the MSCI index has witnessed rapid increases in recent years, as the group has been keen to enhance its efforts related to environmental protection, social responsibility, data security, and privacy. This is through adopting the best local and international standards and practices, employing sustainable technologies and innovative digital solutions, and empowering individuals and communities, along with adhering to the highest standards of integrity and transparency in all its practices. stc group is a digital enabler, offering advanced solutions and driving a role in the digitalization process. The group provides a comprehensive suite of services encompassing digital infrastructure, cloud computing, cybersecurity, Internet of Things (IoT), digital payments, digital media, and digital entertainment. The group comprises 13 subsidiaries across the Kingdom of Saudi Arabia, the Middle East, North Africa, and Europe. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Khaleej Times
36 minutes ago
- Khaleej Times
Global asset tokenisation market value to reach $13.55 trillion by 2030
The asset tokenisation market is projected to reach $2.08 trillion in 2025, with expectations of further growth to $13.55 trillion by 2030. Real-world asset (RWA) tokenisation, in particular, is expected to surpass $500 billion by the end of 2025, according to some projections. Toyow, a next-generation, multi-category tokenisation platform, recently signed a Memorandum of Understanding (MoU) with Nisus Finance for the tokenisation of funds and assets worth up to $500 million (Dh1.83 billion) as the latter plans to conduct a Security Token Offering (STO) of its real estate assets under management (AUM) through Toyow's marketplace. Toyow will build a dedicated STO launchpad for Nisus Finance, offering end-to-end technical and operational support. This includes smart contract development, blockchain integration, and full regulatory alignment across UAE, DIFC, and international jurisdictions. Investors holding Toyow token, will be able to invest in his fund using Toyow Token ($TTN). The partnership is part of Toyow's growing more than $38 billion tokenisation pipeline, which spans multiple asset classes and jurisdictions globally. Toyow is a multi-category RWA tokenisation marketplace that enables users to invest in tokenised physical assets through a unified, compliant marketplace, making traditionally illiquid assets accessible, tradable, and more transparent. Toyow, which started its operations in the UAE a few months ago, has already lined up billions of dollar worth of assets for investment by individuals and institutions. 'The UAE is emerging as a global leader in asset tokenisation, with initiatives like Dubai's Real Estate Evolution Space (REES) and the Dubai International Financial Centre's (DIFC) security-token framework. These initiatives are providing clear legal pathways for on-chain asset issuance,' Surajit Chanda, Co-Founder and CEO, Toyow, says. Disruptive technologies, such as asset tokenisation, could transform real estate over the next few years. Built on blockchain technology, tokenisation converts physical or financial assets into bite-sized, digital representations that can be securely traded or owned in fractional portions on a digital platform, a report by Deloitte said. 'Tokenised real estate could not only pave the way for new markets and products, but also give real estate organisations an opportunity to overcome challenges related to operational inefficiency, high administrative costs charged to investors, and limited retail participation,' it said. Real estate tokenisation is a major area of growth, with some predicting a market cap of $1.5 trillion by 2025, according to a report by Antier Solutions. Toyow's tokenisation covers a number of asset classes including real estate, commodities, movies, music, art, luxury cars, and many more. From asset onboarding and legal compliance to token issuance, secondary trading, and investor payouts, Toyow covers everything en-to-end. Its products are built for trust with strong focus on regulatory integrity, investor protection, and secure custody. 'Toyow's strategic focus on retail and institutional investors serve both everyday investors and regulated institutions while its token offerings have a global first compliant approach looking at the jurisdiction and custodial frameworks in different territories. Its token issuances are technologically scalable backed with smart contracts that come with dynamic rewards and automated compliance flows,' Surajit Chanda says. 'The UAE's progressive crypto and virtual asset framework (especially in Dubai and Abu Dhabi) provides an ideal launchpad for compliant RWA tokenisation.' Toyow is focusing on premium residential, hospitality, and branded commercial real estate developments in Dubai, Abu Dhabi, Riyadh, and Doha for tokenisation as $500 million worth of real estate tokenisation discussions already underway with developers in Dubai.
