Saudi Arabia calls for global action on climate and land degradation at UN General Assembly
Saudi Arabia calls for global action on climate and land degradation at UN General Assembly/node/2573244/business-economy
Saudi Arabia calls for global action on climate and land degradation at UN General Assembly
Susana Muhamad, Incoming president of the CBD COP16 & Colombia minister of environment and sustainable development, COP29 President-Designate Mukhtar Babayev, and Osama Faqeeha, deputy minister of Environment, Water and Agriculture of of Saudi Arabia and advisor to the incoming UNCCD COP16 President. Supplied
Saudi Arabia calls for global action on climate and land degradation at UN General Assembly
Updated 57 sec ago
Mohammed Al-Kinani
JEDDAH: Saudi Arabia has called for decisive global action to address climate change, biodiversity loss, and land degradation during the UN General Assembly.
The appeal was made at a Rio Trio Initiative event in New York City, where the incoming presidents of the three Rio summits outlined their goals for the UN environmental meetings scheduled for the remainder of 2024, according to a press release.
Saudi Arabia is set to host the UN Convention to Combat Desertification’s COP16 from Dec. 2-13, with a key target of restoring 1.5 billion hectares of degraded land by 2030. The Kingdom’s COP16 presidency is pushing for concrete commitments to reach this goal.
The Saudi Deputy Minister of Environment, Water and Agriculture Osama Faqeeha, who is also an advisor to the incoming UNCCD COP16 president, said: “Climate change, biodiversity loss, and land degradation are interconnected aspects of the same planetary crisis, which are most effectively addressed in an integrated way.”
He added: “This year presents a unique opportunity to unite with our colleagues in Azerbaijan and Colombia to rally the international community to address these interrelated global environmental challenges, which are having a devastating impact on the planet and all of its inhabitants, including its people.”
The Riyadh event is expected to be the largest and most inclusive UNCCD COP to date, bringing together the private sector, civil society, and the scientific community to share solutions for land degradation, desertification, and drought.
Azerbaijan will preside over the 29th Conference of the UN Framework Convention on Climate Change, while Colombia will chair the 16th Conference of the Convention on Biological Diversity.
At the Rio Trio Initiative event, Saudi representatives underscored the importance of land health for people and the planet, stressing the significant economic, social, and environmental repercussions of land degradation and drought — all of which jeopardize biodiversity, elevate greenhouse gas emissions, and worsen food and water insecurity.
The incoming president of the CBD COP16, Susana Muhamad and Colombia’s minister of environment and sustainable development, said: “We need a joint agenda implemented on the ground, and we are ready to establish a working group to promote articulation and coherence.”
She further emphasized that the just transition addressed in relation to climate change must foster collaborations to prevent the degradation and harm of natural ecosystems.
“On the other hand, we have a great opportunity to plan the land with a more integrated approach: decarbonizing, restoring, and generating better conditions for human lives. COP16 is the space for deepening the understanding of these synergies,” she said.
COP29 President-Designate Mukhtar Babayev stated that by strengthening collaboration among the three Rio Conventions, they seek to unlock alliances, improve efficiency, and achieve tangible outcomes that benefit both people and the planet.
“This is about recognizing that the goals of the respective conventions are intrinsically linked and that progress in one area can catalyze advances in others,” Babayev said.
The Rio Trio Initiative is named after the pivotal 1992 Earth Summit in Rio de Janeiro, where nations united to form a framework addressing the pressing challenges of climate change, desertification, and biodiversity loss. The initiative aims to enhance collaboration across the three major international environmental conventions.
RIYADH: Qatar’s private sector exports increased by 3.5 percent quarter-on-quarter, reaching 2.62 billion Qatari riyals ($719 million) in the second quarter of 2024, the latest industry data showed.
A recent report from the Qatar Chamber highlighted varied performance among exports based on the type of certificates of origin, with shipments under the General Model rising by 2.2 percent and those through the Unified Gulf Cooperation Council Model increasing by 15.3 percent. In contrast, exports via the Unified Arab Model experienced a decline of 24 percent compared to the previous quarter.
These models serve as frameworks to enhance understanding of economic integration and cooperation among countries, analyzing trade based on various monetary theories, including trade barriers, tariffs, and financial synergies among member states.
The increase aligns with the goals of the Third National Development Plan 2024-2030, which aims to boost private sector growth and raise the share of Qataris in the private workforce to 20 percent.
The report also indicated that fuel exports in the second quarter totaled 435 million riyals, marking a 17.7 percent drop from the first quarter. Aluminum exports similarly declined by 31 percent, reaching 302 million riyals.
Additionally, essential and industrial oils amounted to 427.6 million riyals, reflecting a year-on-year increase of 9 percent. However, steel exports fell by 20.8 percent to 218.18 million riyals.
Exports of industrial gases and lotrene recorded declines of 20.6 percent and 66.1 percent, respectively, reaching 200.3 million riyals and 44.42 million riyals.
Chemical substance exports reached 90.1 million riyals in the second quarter, reflecting a decrease of 3.4 percent, while petrochemical exports totaled 52.9 million riyals, down 41.7 percent on a quarterly basis.
Paraffin exports amounted to 29.5 million riyals, a 4.9 percent decline compared to the fourth quarter of 2023, whereas chemical fertilizers surged to 339.5 million riyals, a significant increase of 3,139 percent compared to the first quarter.
These ten commodities accounted for 81.6 percent of the total value of private sector exports, according to the certificates of origin issued by the Qatar Chamber during the second quarter.
In terms of economic blocs, Asian countries, excluding the Gulf Cooperation Council and Arab nations, topped the list, receiving exports worth 1.2 billion riyals, or 45.6 percent of total exports.
GCC countries followed with 625.62 million riyals, or 23.9 percent, while the EU received 543.43 million riyals, or 20.7 percent.
Arab countries, excluding GCC, received 145.96 million riyals, and other European countries accounted for 76.82 million riyals. African countries collectively received 21.06 million riyals, or 0.8 percent of total exports.
The report indicated that Qatar exported to 105 countries in the second quarter, with the African grouping comprising 27 nations.
India emerged as the leading destination for private sector exports, totaling 475.5 million riyals, or 18.1 percent, followed by the Netherlands with 354.5 million riyals, a share of 13.6 percent, and the UAE with 251.55 million riyals, or 9.6 percent.
SPARK attracts over 60 investors with $3bn in investment
Updated 3 min 37 sec ago
Nadin Hassan
RIYADH: Saudi Arabia’s King Salman Energy Park has attracted more than 60 investors, amassing over $3 billion in investments to date.
In a recent statement on X, SPARK announced that seven factories are currently operational, with an additional 14 under construction. Established in 2018 by Crown Prince Mohammed bin Salman, SPARK is a fully integrated industrial ecosystem located in the eastern province of Saudi Arabia.
The initiative serves as a regional center for the energy sector, providing a range of integrated solutions to support companies throughout the Kingdom.
As a megaproject, SPARK aims to create an energy city that will become a global hub for energy, industry, and technology, housing approximately 300 industrial and service facilities.
Dedicated to producing clean and sustainable resources, SPARK stands out as the world’s first and only industrial city to receive a Leadership in Energy and Environmental Design Silver certification in 2020 for its energy and environmental practices.
Saudi Aramco, in collaboration with the Saudi Authority for Industrial Cities and Technology Zones, is responsible for the development, operation, management, and maintenance of the project’s infrastructure.
Located between Dammam and Al-Ahsa, SPARK will be developed in three phases, covering a total area of 50 sq. km.
During the inauguration ceremony, Saudi Investment Minister Khalid Al-Falih announced that SPARK will function as a special economic zone, providing tenants with regulatory, fiscal, and non-fiscal support.
Emphasizing SPARK’s pivotal role in unlocking Saudi Arabia’s energy resources in line with the country’s economic transformation plan, Al-Falih stated: “SPARK is one of the country’s most ambitious projects, affirming the Kingdom’s commitment to Vision 2030 by creating thousands of high-skilled jobs, serving as an economic catalyst, and enhancing Saudi Arabia’s strong position in the global energy sector.”
In 2022, SPARK signed a contract with a subsidiary of Abdullah M. Bin Saedan and Sons Real Estate Group to develop a $150 million residential complex and workers’ village.
The residential complex will be constructed in two phases, with the first phase expected to be completed by 2025 and covering an area of 30,000 sq. meters.
FHS World 2024: Leading the charge for sustainable hospitality practices
Updated 30 sec ago
Miguel Hadchity
RIYADH: The Future Hospitality Summit World is returning to Dubai from Sept. 30 to Oct. 2 at Madinat Jumeirah, promising three days filled with insights, networking, and announcements for the hospitality and tourism sectors.
As the largest edition to date, FHS World will gather over 1,500 industry leaders and feature more than 110 distinguished speakers, facilitating dynamic discussions and networking opportunities.
Jonathan Worsley, chairman of The Bench and organizer of FHS World, told Arab News: “The Future Hospitality Summit has grown year on year since its inception, evolving from what was once a purely Middle East-focused event — the much-loved Arabian Hotel Investment Conference — to a world-leading summit that attracts over 1,500 international delegates and puts the global industry in the spotlight.”
He added: “As our biggest and boldest event to date, FHS World 2024 reflects the continued growth of the hospitality and tourism sector and the evolution of FHS as the leading event of its kind.”
Under the theme “Invest in Our Future,” the summit will address critical issues shaping the global hospitality landscape, with a particular focus on innovation, sustainability, technology, and investment opportunities. Worsley emphasized the significance of investment and partnerships, stating, “This year’s theme emphasizes investment, innovation, and sustainability.”
Jonathan Worsley, chairman of The Bench and organizer of FHS World.
He elaborated: “Each year, we work alongside our highly experienced advisory board who guide us on topics, speakers, and event format to ensure we bring in the right people to discuss the most important factors affecting the hospitality industry and add the most value to industry players attending.”
This year’s agenda is packed with over 40 sessions across 20 conference tracks on four dedicated stages: Summit, Future, Exhibition, and Innovation. Topics will encompass environmental, social, and governance issues, sustainable development, human capital, real estate, technology, branding, and culture.
Worsley noted that the emphasis on sustainability has intensified annually. The 2024 agenda includes dedicated tracks where expert insights will guide the development of sustainable business models that prioritize environmental stewardship while enhancing profitability.
The summit will also feature panels addressing urgent topics like scaling tourism with sustainable footprints, decarbonization, and achieving net-positive hospitality, aligning with the global movement toward responsible business practices.
A session “Greening Hospitality: ESG Law Compliance Impacting Hotel Real Estate Value” underscores the rising importance of environmental standards worldwide.
Hala Matar Choufany, president for HVS Middle East, Africa & South Asia.
Hala Matar Choufany, president for HVS Middle East, Africa & South Asia, remarked: “Sustainability compliance is one of the biggest challenges facing the hospitality industry, as governments and investors push for more stringent environmental standards.”
FHS World 2024 will delve into technology and innovation, with Worsley highlighting, “Artificial Intelligence, the Internet of Things, and automation are transforming our industry in profound ways. FHS World will showcase how technology enhances everything from operational efficiency to guest personalization.”
Choufany added: “Emerging technologies like AI and IoT are transforming hospitality operations by improving efficiency, reducing costs, and enhancing guest experiences. AI allows hotel operators to use predictive analytics to forecast occupancy, adjust staffing, and optimize inventory, while dynamic pricing algorithms help maximize revenue.”
Experts like Nicolas Nasra of Colliers will discuss AI’s transformative potential in hotel operations, and Piergiorgio Schirru of Blastness will emphasize the importance of revenue management systems in securing competitive market prices. Worsley further noted that “Robotics and Generative AI will also take centre stage as tools for creating more efficient systems; however, discussions to address ethics and data protection elements of these new technologies are essential.”
The summit will not only highlight technological advancements but also emphasize sustainability and pathways to achieving net-zero goals. Inge Huijbrechts, chief sustainability and security officer at Radisson Hotel Group, along with leaders from brands like Hilton and Accor, will explore how hotels can leverage data-driven platforms to track, report, and minimize their carbon footprints.
Worsley highlighted key presentations, including “Decarbonization and the Pathway to Net Zero,” “Net Positive Hospitality,” and “Leading with Purpose: Commitment to People, Planet, Profit.”
A key feature of FHS will be the Branded Residences Forum, presented by Accor One Living, focusing on the rising trend of branded residences in the Middle East and beyond. Worsley stated this forum is “set to be one of the biggest draws at FHS World,” providing attendees with insights into the intersection of real estate, branding, and hospitality.
He explained: “Investors are increasingly looking for diversified assets that can weather market fluctuations, and this is driving interest in branded residences and mixed-use developments.”
Choufany added: “The hospitality industry is witnessing several emerging trends that are shaping the future of investments. One notable trend is the rise of extended stay and co-living spaces.” She noted that as remote work and digital nomadism gain popularity, investments in these properties are expected to grow, blending home comforts with hotel-like amenities.
This year’s summit will also feature Country Pavilions exhibitions showcasing hospitality projects from Greece, Italy, Morocco, the Maldives, and Sri Lanka.
Worsley stated: “Our country pavilions are a platform for countries to showcase their hospitality projects and investment opportunities to a global audience, helping investors identify new markets.”
Innovation and creativity will be celebrated with several industry competitions, including the semi-finals of the UN Tourism Women in Tech Start-Up Competition and the new Sustainable Cook-Off, spotlighting top UAE chefs creating culinary masterpieces from locally sourced ingredients. The finals of the Sustainable Hospitality Challenge, a student competition founded by Hotelschool The Hague, will also return, continuing the tradition of recognizing innovative practices in the sector.
Worsley remarked: “One of our most popular events is the Sustainable Hospitality Challenge, which enforces true sustainability through collaboration and is judged by world leaders in their field.”
FHS World will also tackle challenges such as labor shortages and sustainability compliance through solutions-based discussions. Worsley explained: “FHS World addresses these challenges by bringing together experts in green technologies, automation, and workforce development to provide attendees with a toolkit for tackling these issues while capitalizing on new growth opportunities.”
As FHS World expands, it continues to serve as a premier platform for industry leaders to connect, share ideas, and shape the future of hospitality and tourism. Worsley stated, “Our vision for FHS World is to continue to help shape the future of hospitality investment and provide a platform — one that bridges continents and drives innovation, where industry leaders gather to forge partnerships to advance their businesses sustainably.”
With more sessions, speakers, and features than ever before, FHS World 2024 promises to be a defining event for the global hospitality and tourism sector, offering attendees unparalleled insights, networking opportunities, and pathways to invest in the industry’s future.
Saudi Arabia’s leisure tourism soars, drawing 17.5m visitors in 2024
Updated 52 min 15 sec ago
Manal Al- Barakati
RIYADH: Saudi Arabia’s leisure tourism sector has surged by 656 percent since 2019, welcoming 17.5 million international visitors in 2024, according to the Ministry of Tourism.
This growth reflects the Kingdom’s ongoing efforts to enhance its tourism offerings and attract global travelers.
The introduction of the first tourism visa in 2019 marked a pivotal moment for Saudi Arabia's travel industry, significantly boosting international tourism. Under Vision 2030, the Kingdom aims to welcome 100 million tourists by 2030 — a goal achieved seven years ahead of schedule in 2023.
Between January and July of this year, Saudi Arabia saw 4.2 million visitors seeking entertainment and leisure experiences, a 25 percent increase from the previous year. Overall, the total number of international tourists in the first seven months of 2024 represents a 10 percent rise from 2023 and a 73 percent increase compared to 2019. These statistics underline the sector’s rapid expansion, driven by Vision 2030, which aims to transform the Kingdom into a global tourism hub.
The UN World Tourism Barometer recognized the Kingdom as the fastest-growing G20 nation in terms of international arrivals and tourism revenues.
Key initiatives fueling this growth include the development of new tourist attractions, such as the Diriyah Gate project, and substantial investments in luxury resorts along the Red Sea coast.
Additionally, the Kingdom has prioritized cultural and historical tourism, with projects like the AlUla site and the Custodian of the Two Holy Mosques Cultural Heritage Program enhancing its appeal to travelers.
These initiatives, along with a push for integrated tourism destinations, have positioned Saudi Arabia as a premier destination for travelers across the globe.
The tourism sector is poised to significantly impact Saudi Arabia’s employment landscape. By 2030, it is projected to create approximately 1.2 million jobs for Saudis, particularly in hospitality, tour operations, and cultural heritage preservation.
The National Transformation Program, part of Vision 2030, is designed to ensure that a substantial portion of these jobs are held by Saudi nationals.
Currently, tourism is one of the largest sources of employment for citizens, with around 900,000 nationals already working in the sector. These developments indicate the sector’s potential to bolster the economy, reduce unemployment, and empower the local workforce.
Saudi Arabia intensifies mining tech push in meetings with US firms
Updated 29 September 2024
Mohammed Al-Kinani
JEDDAH: Saudi Arabia is ramping up its adoption of advanced mining technologies as top minister met with senior executives from the US firms at MINExpo International 2024.
During his visit to Las Vegas, Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef held bilateral meetings with these firms to discuss localizing innovative solutions for mining operations and exploring promising investment opportunities in the sector.
The discussions aimed to bolster the Kingdom’s mining industry and enhance its global competitiveness, the Saudi Press Agency reported.
The Kingdom aims to establish mining as a foundational industrial pillar, with its mineral wealth estimated at SR9.4 trillion ($2.4 trillion), according to a recent release from the Ministry of Industry and Mineral Resources.
In addition to mining discussions, the minister explored collaboration with advanced industries, including a visit to JetZero, a California-based aviation company, and a tour of SpaceX, a leader in space exploration technologies.
In a post on his X account, Alkhorayef said: “During my visit to the US state of California, I was briefed on the advanced technologies possessed by JetZero and SpaceX, the two leading companies in their field, and discussed with them enhancing cooperation in the aviation and space industry sector; in line with the Kingdom’s goals and targets in the National Industrial Strategy.”
In the mining sector, Alkhorayef, along with his deputy for mining affairs, Khalid bin Saleh Al-Mudaifer, engaged in discussions about potential investments with Michael Wright, CEO of Thiess, a prominent mining services provider with operations across Australia, Asia, and the Americas.
They evaluated strategic targets outlined in the Kingdom's comprehensive mining strategy and extended an invitation to Thiess to expand its regional footprint in Saudi Arabia.
Alkhorayef also met Jon Stanton, CEO of Weir Group, to explore opportunities in the valves and pumps sectors, which are experiencing rising demand due to major oil and gas projects.
The valves sector was valued at $9.8 billion in Saudi Arabia by the end of 2022. The minister emphasized the potential for establishing a local manufacturing facility for pumps and valves to enhance the sector’s capabilities.
Furthermore, Alkhorayef engaged with Richard Harris and Petri Virrankoski from Sandvik to discuss investments in mining machinery and surface drilling solutions, highlighting Sandvik’s role in advancing operational efficiency through innovative equipment and digital solutions.
The minister also met with Dave Goddard, head of mining at Hexagon, who outlined Saudi Arabia’s digital transformation across various sectors, including mining.
Alkhorayef presented initiatives like the Future Factories program, aiming to automate 4,000 facilities, which could facilitate Hexagon’s expansion and address the growing demand for software solutions, including AI applications.
In discussions with Otto Breitschwerdt, chief technology officer at Caterpillar, Alkhorayef highlighted promising opportunities in heavy equipment and diesel generators amid the Kingdom’s ambitious development plans.
He noted that the heavy equipment market is projected to exceed $4 billion, while the diesel generator market is expected to reach $550 million by 2030.
Alkhorayef also met Dan Lankford, chairman of Impossible Metals, to explore the latest solutions in offshore mineral exploration. Impossible Metals is developing underwater robotic vehicles for critical mineral extraction and has successfully tested its autonomous underwater vehicle, Eureka II, in deep waters.
