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    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt secures $66 mln from EU, AFD to expand wheat storage

    Egypt secures $66 mln from EU, AFD to expand wheat storage

    Agreements signed to establish 4 food factories in Jordan

    Agreements signed to establish 4 food factories in Jordan

    Morocco set to launch potash project: report

    Morocco set to launch potash project: report

    Food Africa and pacprocess MEA to launch in December with an even larger area

    Food Africa and pacprocess MEA to launch in December with an even larger area

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    • Business & Economy
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      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

      Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

      International investors keen on entering Saudi market, says minister

      International investors keen on entering Saudi market, says minister

      Egypt aims to enhance contribution of IT sector to GDP: Talaat

      Egypt aims to enhance contribution of IT sector to GDP: Talaat

      Saudi airports witness 42% rise in passengers in first 4 months of 2023

      Saudi airports witness 42% rise in passengers in first 4 months of 2023

      Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

      Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

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      • CES 2017
      • Election Results
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      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

      Value of Saudi construction contracts jump 35% to $51.3bn: report

      Value of Saudi construction contracts jump 35% to $51.3bn: report

      Qatar to implement new strategies for real estate development

      Qatar to implement new strategies for real estate development

      Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

      Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

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      • Energy
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        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Total-led consortium to start drilling offshore Lebanon in September

        Total-led consortium to start drilling offshore Lebanon in September

        Egypt invests $64mln in electricity network development in South Sinai since July 2014

        Egypt invests $64mln in electricity network development in South Sinai since July 2014

        First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

        First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

        Oman’s refinery products output jumps by 44%

        Oman’s refinery products output jumps by 44%

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        • Hospitality
          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food
          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt secures $66 mln from EU, AFD to expand wheat storage

          Egypt secures $66 mln from EU, AFD to expand wheat storage

          Agreements signed to establish 4 food factories in Jordan

          Agreements signed to establish 4 food factories in Jordan

          Morocco set to launch potash project: report

          Morocco set to launch potash project: report

          Food Africa and pacprocess MEA to launch in December with an even larger area

          Food Africa and pacprocess MEA to launch in December with an even larger area

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

            Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

            International investors keen on entering Saudi market, says minister

            International investors keen on entering Saudi market, says minister

            Egypt aims to enhance contribution of IT sector to GDP: Talaat

            Egypt aims to enhance contribution of IT sector to GDP: Talaat

            Saudi airports witness 42% rise in passengers in first 4 months of 2023

            Saudi airports witness 42% rise in passengers in first 4 months of 2023

            Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

            Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Value of Saudi construction contracts jump 35% to $51.3bn: report

            Value of Saudi construction contracts jump 35% to $51.3bn: report

            Qatar to implement new strategies for real estate development

            Qatar to implement new strategies for real estate development

            Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

            Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Total-led consortium to start drilling offshore Lebanon in September

              Total-led consortium to start drilling offshore Lebanon in September

              Egypt invests $64mln in electricity network development in South Sinai since July 2014

              Egypt invests $64mln in electricity network development in South Sinai since July 2014

              First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

              First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

              Oman’s refinery products output jumps by 44%

              Oman’s refinery products output jumps by 44%

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              A quick guide to the Saudi National Transformation Program

              Bloomberg

              June 7, 2016
              in Economy
              0
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              Saudi Arabia approved its National Transformation Program, a key part of a blueprint to prepare the kingdom for the post-oil era. The plan outlines a number of initiatives to be undertaken by different ministries. Here is what we know so far:

              Public Finances
              •    Non-oil revenue is seen rising to 530 billion riyals ($141 billion) by 2020 from 163.5 billion riyals. Public-sector wages and salaries would fall to 456 billion riyals from 480 billion, and make up 40 percent of total spending versus 45 percent.
              •    Public debt will increase to 30 percent of economic output from 7.7 percent, while the kingdom’s credit rating is seen rising two levels to Aa2 from A1.
              •    Water and electricity subsidies are to be cut by 200 billion riyals; the tariffs charged on water would cover 100 percent of actual costs, versus 30 percent now.
              •    Percentage of new jobs in the civil service to drop to 1 percent from 5 percent.
              •    Taxes would be imposed on "harmful products."
              •    The plan sets aside costs for the “preparation and implementation” of income tax on residents as well as “the unified income tax.” Even so, Mohammed Al-Sheikh, a cabinet minister, said there were no current plans to tax foreigners and referred further questions to the Finance Ministry. He also reiterated the government’s pledge not to impose taxes on Saudi nationals.
              •    The private sector would fund about 40 percent of the initiatives included in the plan.

              Investments, Jobs, Privatization & Exports
              •    450,000 jobs to be created by 2020 under the program.
              •    Non-oil exports would climb to 330 billion riyals from 185 billion riyals by 2020. Foreign direct investment would rise to 70 billion riyals from 30 billion riyals.
              •    Plan budgets 300 million riyals over 5 years to create “center of excellence” to support the privatization of state-owned companies. The minister of environment, water and agriculture said the government plans to privatize the Saline Water Conversion Corp.
              •    Proportion of public and private sector expenditure on local content to increase to 50 percent from 36 percent, to be undertaken by the ministry of energy.
              •    Real estate contribution to economic output to double to 10 percent, with 7 percent annual growth.
              •    Information technology proportion of non-oil GDP to double to 2.24 percent; media industry to contribute 6.64 billion riyals to economic output from 5.2 billion riyals.
              •    Proportion of non-oil GDP coming from pharmaceutical industry to rise to 1.97 percent from 0.98 percent.

              Business Environment, Women
              •    Plan to improve Saudi Arabia’s global ranking in terms of ease of doing business to No. 20 from No. 82.
              •    Average resolution time for commercial cases to be reduced to 395 days from 575 days.
              •    Kingdom to rank 50th on World Bank’s Contract Enforcement Indicator, from 85th currently.
              •    80 percent of Justice Ministry’s services to be delivered electronically.
              •    Female participation in the workforce to increase to 28 percent from 23 percent; number of women in civil service to rise to 42 percent from 39.8 percent.
              •    All land holdings to be surveyed, compared with only 6 percent currently.
              •    Reduce average time required to approve new residential projects to 60 days from 730 days.

              Energy, Mining
              •    Oil output capacity is expected to stay at 12.5 million barrels per day by 2020, with refining capacity rising to 3.3 million barrels per day from 2.9 million.
              •    Output capacity of dry gas to reach 17.8 billion cubic feet per day versus 12 billion currently. The country will generate 4 percent of its power from renewable energy by 2020.
              •    Mining sector’s contribution to economic output to reach 97 billion riyals from 64 billion riyals.

              Health Care
              •    Plan for reforming and "restructuring of primary health care" estimated to cost 4.7 billion riyals.
              •    Private sector contribution to health care spending to increase to 35 percent from 25 percent.
              •    70 percent of Saudi citizens to have a unified digital medical record.
              Bloomberg
              7 June

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