Latest news with #internationalcompanies
Asharq Al-Awsat
30-06-2025
- Business
- Asharq Al-Awsat
Saudi Arabia Boosts Appeal as Foreign Investment Inflows Surge 44%
Saudi Arabia is advancing rapidly toward its Vision 2030 goals, recording a notable surge in foreign direct investment (FDI) during the first quarter of this year. Inflows rose 44% year-on-year to SAR 22.2 billion ($6 billion), up from SAR 15.5 billion ($4 billion) in the same period of 2024. The growth comes amid government efforts to attract investors and position the Kingdom as a global economic hub. Attracting more FDI is central to Vision 2030, which seeks to diversify the economy beyond oil, stimulate private sector growth, and create jobs. Saudi Arabia aims to draw $100 billion in FDI by 2030, expand spending on 'giga-projects,' and develop sectors including tourism, sports, and entertainment. According to data from the General Authority for Statistics, total inbound FDI reached about SAR 24 billion ($6.4 billion) in the first quarter of 2025, marking a 24% increase compared to the same quarter in 2024. However, it dipped 6% from the previous quarter's SAR 25.6 billion ($6.8 billion). Outbound FDI dropped sharply, totaling SAR 1.8 billion ($480 million) in Q1 2025, a 54% decrease from SAR 3.9 billion ($1 billion) in the prior-year period. Compared to the previous quarter, outbound flows rose slightly by 7%. Since 2021, Riyadh has required international companies seeking government contracts to establish regional headquarters in the Kingdom. Authorities have also pledged to modernize investment regulations to improve the business environment. According to the Vision 2030 annual report, FDI as a share of GDP hit its 2023 target, with inflows reaching SAR 96 billion ($25.6 billion), up 50% from 2022 (excluding the exceptional Aramco transaction). However, the indicator declined by 1.31 percentage points between 2021 and 2023 due to weaker net inflows in 2021 and 2022 as global investors faced liquidity pressures from rising interest rates. Despite this, data shows steady progress toward sustainable growth. FDI is becoming more diverse, spreading across industries and regions rather than concentrating solely in oil or the eastern provinces. This trend reflects greater investor confidence and supports efforts to attract long-term capital. In 2023, Saudi Arabia adopted a new methodology for calculating FDI statistics in collaboration with the International Monetary Fund to improve data quality and transparency. As a result, historical figures were updated, with 2020 set as the reference baseline.
Asharq Al-Awsat
25-06-2025
- Business
- Asharq Al-Awsat
Deals Signed for Hotel Development at King Abdullah Sports City in Jeddah
The Saudi Ministry of Sport has announced the signing of contracts with several local and international companies to manage, operate, and develop the construction of two hotels within King Abdullah Sports City in Jeddah. The project involves the construction of two world-class hotels built to the highest engineering standards, offering integrated services tailored to meet the needs of visitors, tourists, and sports delegations and supporting the Kingdom's capacity to host major international sporting events, SPA reported. Spanning approximately 16,000 square meters, the project will feature a dedicated fan zone, health and fitness clubs, swimming pools, international restaurants, retail outlets, athlete-specific facilities, and conference and event halls. It is part of the ministry's commitment to increasing private sector participation in the development of sports infrastructure and aligns with the broader objectives of Saudi Vision 2030 by fostering a modern, dynamic environment within the Kingdom's sports cities.
Zawya
24-06-2025
- Business
- Zawya
Nearly $60mln in business deals signed in three days at Fi Africa and ProPak MENA 2025 amid exceptional success and strong attendance
Cairo – The 13th edition of Fi Africa and ProPak MENA concluded at the Egypt International Exhibition Center under the patronage of the Egyptian Ministries of Trade & Industry and Environment. The event saw the participation of leading local and international companies, drawing in more than 15,000 visitors including key decision-makers and specialists in the food manufacturing and packaging industries. Notably, international participation doubled this year, with attendees representing over 127 countries. The two exhibitions recorded an exceptional commercial success, with nearly $60 million USD in deals closed over the three-day event, according to Explori, the official survey tool for the exhibitions. This represents a 55% increase in business volume compared to the previous edition—highlighting the exhibitions' growing impact on driving economic growth in the region. Reflecting the event's African focus, 89% of deals originated from Africa, while Asia and the Middle East each accounted for 3%, and Europe and the Americas each for 2%, with 1% from other regions. This underscores the event's role as a leading African business platform with expanding global engagement. Over three days, the event brought together more than 400 exhibiting companies from Egypt, the Middle East, Asia, and Europe—including Italy, Germany, Turkey, India, China, the UAE, Malaysia, and Jordan—alongside representatives from government bodies and regional and international organizations. Leading companies such as Hi-Tek, UniOil, Kamena, and Mashreq participated, reflecting the growing confidence in the event as a key driver of innovation and strategic partnerships. This year's edition featured a range of initiatives aimed at supporting the growth of the food manufacturing and packaging sectors and enhancing exports through education and training. Activities included panel discussions on value chains and industry challenges in Africa, held in collaboration with United Nations Industrial Development Organization (UNIDO), as well as a roundtable on reducing food loss and enhancing food security, co-organized by Informa, LibanPack, UNIDO, the World Packaging Organization, and Wageningen University & Research in the Netherlands. The exhibition also hosted specialized training programs in gelato making and baking arts, led by top French and Italian experts through partnerships with Auf and Valmar. Additionally, the annual Women in Food & Beverage Leadership Forum returned, featuring prominent female and male industry leaders to foster dialogue around leadership and empowerment in this vital sector. Notable speakers included Ms. Raluca Istrate, Sustainability Manager at EMEA Informa; Dr. Amany Shehata, VP of HR at Americana Foods; Ms. Sherine Shaban, Senior Director of People & Culture at Coca-Cola; Dr. Mona Samir, Director of the Public Awareness Department at the Egyptian Environmental Affairs Agency (EEAA); and Ms. Amani Khalil, an athlete from Egypt's Iron Man team. Other attractions included a 'Tasting Zone', live baking and dessert demos using healthy ingredients, and a 360° live cooking experience, adding a hands-on, experiential element that enriched the overall visitor experience. Mostapha Khalil, Group Director at Informa Egypt, commented: 'This edition saw remarkable engagement—not just in terms of attendance, but also the quality of discussions and the scale of business taking shape. One highlight was the launch of our Business Matchmaking Program, which resulted in over 350 B2B meetings, opening doors for new collaborations among 200 top manufacturers, suppliers, and importers. Several commercial agreements were signed among nearly 100 exhibitors, reinforcing the exhibition's role in fostering industrial growth and regional and international partnerships.' Mohamed Abdel Hamid, Exhibition Director of Fi Africa and ProPak MENA emphasized the importance of the event's dialogue sessions, particularly those organized with UNIDO. These included more than 70 educational sessions featuring 50 international speakers. He also highlighted growing interest from decision-makers in green technologies and sustainable packaging, reflecting a broader awareness of responsible industrial transformation. The exhibition received positive feedback from government and startup representatives alike. He noted Egypt's growing reputation as a regional exhibition hub, now ranked among the top five countries globally in this sector, thanks to its robust infrastructure and exhibition spaces. Informa's strategic expansion in the Egyptian market, he added, strengthens national economic contributions and helps open new markets for Egyptian exports, aligning with Egypt's Vision 2030. This year's edition coincided with Global Exhibitions Day, marked by the presence of a high-level delegation from the Arab Union for International Exhibitions & Conferences (AUIEC), including its Secretary-General, Ahmed El-Deeb, Eng. Faiq Khayyat, Advisor to the Saudi Events Association, Mahmoud Moawafi, CEO of The International Team for Exhibitions Organization, and Dr. Mohamed Saad, Media Advisor to the Union. The celebration highlighted the vital role exhibitions play in driving economic activity, innovation, and international trade. With this, Fi Africa and ProPak MENA 2025 conclude their largest edition to date, solidifying their status as a central platform for industrial development in the region, and setting the stage for even more impactful editions in the future. The event's success reflects Informa's commitment to reinforcing Egypt's position as a regional industrial and trade hub through events that combine knowledge, innovation, and strategic networking. In line with its expansion plans in Egypt, Informa aims to organize 10 local exhibitions by 2025, along with a series of international events across food, agriculture, and industry sectors. This expansion is backed by Informa's global presence, with annual sales of £3.7 billion and exhibition business revenues exceeding £2 billion.
LBCI
17-06-2025
- Business
- LBCI
Qatar says its output at gas field shared with Iran is steady, following Israeli strike
Qatar said on Tuesday its gas production at the South Pars field is steady and supply is proceeding normally, after the world's largest gas field was struck by Israel on Saturday, prompting Iran to partially suspend its production. Qatar, the world's third biggest liquefied natural gas exporter after the U.S. and Australia, shares the South Pars gas field with Iran. Iran partially suspended production at the field after an Israeli strike caused a fire on Saturday. "So far, gas supplies are proceeding normally. However, the ill-advised targeting raises concerns for everyone regarding gas supplies," Qatar foreign ministry spokesperson Majed Al-Ansari said. "This is a reckless move... The companies operating in the fields are international, and there is a global presence, especially in the North Field," he said during a weekly press briefing in Doha.
Washington Post
11-05-2025
- Business
- Washington Post
Puerto Rico seeks to lure manufacturing to boost its economy as Trump's tariff war deepens
SAN JUAN, Puerto Rico — A global trade war is offering Puerto Rico hope as the U.S. territory, attempts to strengthen its fragile economy. Government officials are jumping on planes to try and convince international companies to relocate their manufacturing plants to the island, where they would be exempt from tariffs.
