Saudi Arabia appoints Japan envoy as commissioner for pavilion at Expo 2025 Osaka
Saudi Arabia appoints Japan envoy as commissioner for pavilion at Expo 2025 Osaka/node/2586631/saudi-arabia
Saudi Arabia appoints Japan envoy as commissioner for pavilion at Expo 2025 Osaka
The announcement comes as construction on the pavilion enters its final stages in preparation for the Kingdom’s participation in the global exhibition, set to start in April. (SPA)
Saudi Arabia appoints Japan envoy as commissioner for pavilion at Expo 2025 Osaka
Kingdom’s Dr. Ghazi Binzagr takes on new duties for global exhibition which opens in April
Updated 16 January 2025
Arab News Japan
TOKYO: Saudi Arabia’s Ambassador to Japan Dr. Ghazi Binzagr has been appointed the general commissioner for the Kingdom’s pavilion at Expo 2025 Osaka.
The announcement comes as construction on the pavilion enters its final stages in preparation for the Kingdom’s participation in the global exhibition, set to start in April.
Binzagr, who has been ambassador since 2024, will continue his current duties alongside his new responsibilities as the general commissioner, the Saudi Press Agency reported on Wednesday.
He has also served as a member of the Shoura Council for three terms and previously held the position of deputy chairman of the Foreign Affairs Committee from 2023 to 2024.
As ambassador, Binzagr oversees initiatives to boost relations between Saudi Arabia and Japan.
He also recently contributed to the Saudi-Japanese Business Forum and has been actively engaged in collaborative initiatives in key areas including energy security, technology, trade and investment.
The Kingdom’s pavilion at Expo 2025 Osaka embodies its commitment to international efforts for sustainable human development.
In February of last year, Saudi Arabia was among the first nations to begin constructing their pavilions at the Expo 2025 Osaka site.
The design reflects the Kingdom’s history, culture and current economic transformation, the SPA reported.
Saudi Arabia unveils design of region’s first luxury train
Updated 39 min 44 sec ago
Arab News
RIYADH: Saudi Arabia Railways and Italian hospitality company Arsenale have unveiled the final designs of the Dream of the Desert train, the first five-star luxury train in the Middle East.
According to the Saudi Press Agency, this announcement marks a significant milestone in executing the agreement signed last year between Saudi Arabia Railways and Arsenale.
Inspired by the desert landscape and traditional Saudi architecture, the interiors feature refined craftsmanship, earthy tones, luxurious textiles, and intricate decorative details, SPA reported.
Architectural elements and motifs from iconic Saudi landmarks — including Hegra and Hail — are elegantly incorporated into the train’s design, offering passengers a journey that is both visually stunning and culturally enriching.
The train consists of 14 carriages housing 34 luxury suites, providing an exclusive and intimate experience for travelers, according to a press release.
Departing from Riyadh, the train will traverse the Northern Railway network, allowing guests to explore some of Saudi Arabia’s most breathtaking heritage and natural sites.
In collaboration with the Ministry of Culture, the train will feature curated cultural programs, enabling passengers to experience Saudi traditions in an immersive and engaging way.
Additionally, the Saudi Tourism Authority and the Development Authorities Support Center are designing unique tourism itineraries that integrate seamlessly with the train journey, offering guests an unparalleled insight into Saudi heritage.
Saudi Minister of Transport and Logistic Services and Chairman of Saudi Arabia Railways Saleh Al-Jasser said: “The Dream of the Desert train is a testament to our commitment to this vision, delivering innovative solutions that elevate both the transport and tourism sectors.
“This project reflects the Kingdom’s ambitious drive to develop world-class infrastructure while offering unparalleled travel experiences that reinforce Saudi Arabia’s status as a premier global tourism destination.”
Saudi Arabia Railways CEO Bashar Al-Malik said: “At SAR, we believe our role extends beyond operating a railway network — we are actively attracting global investments to introduce advanced transport solutions that support economic growth and regional connectivity.
“The Dream of the Desert train is a prime example of this commitment, demonstrating how collaboration between private and public sector entities can create groundbreaking experiences in luxury transport.
“With this project, we are setting a new benchmark for service excellence, merging comfort and sophistication to position Saudi Arabia among the world’s leading luxury rail travel destinations.”
CEO of Arsenale Group Paolo Barletta said: “This project is more than just a luxury train; it is a fully immersive experience that blends refined design, world-class hospitality, and rich cultural traditions.
“We are proud of this achievement and look forward to welcoming our first guests on board. Dream of the Desert is expected to begin operations by the end of Q3 2026, with booking details and exclusive packages to be announced soon on the official website.”
RIYADH: Saudi Arabia’s pavilion at the 56th Cairo International Book Fair has attracted significant visitor numbers since opening on Jan. 23.
The Ministry of Islamic Affairs’ corner at the pavilion is showcasing its efforts to serve Muslims in line with Vision 2030, the Saudi Press Agency reported.
A highlight of the corner is the daily distribution of hundreds of copies of the Holy Qur’an, printed in various sizes by the King Fahd complex in Madinah.
Visitors have been captivated by interactive displays detailing advanced Qur’an printing technologies, reflecting the Kingdom’s dedication to preserving and spreading the Holy Qur’an globally, the SPA reported.
The ministry’s corner also features rare historical Islamic manuscripts, highlighting works of jurists, linguists and scholars.
A 3D virtual Hajj and Umrah app offers a step-by-step guide to sacred rituals, while digital services like the Rushd and Correct Quotation apps enhance the visitor experience.
Many attendees have praised the ministry’s efforts, expressing gratitude for Saudi Arabia’s commitment to supporting Muslims, according to the SPA.
The fair, organized by the Egyptian General Book Organization, is hosting 1,345 publishers from 80 countries. It runs until Feb. 5.
Mideast, North Africa region ‘among world’s best’ for renewable energy, says UN official as climate forum opens
Solar energy a major source, Mahmoud Mohieldin tells Arab News
More private sector support needed to fund sustainability projects
Updated 28 January 2025
Ghadi Joudah
RIYADH: The Middle East North Africa region is “among the world’s best locations for renewable energy,” a UN climate official told Arab News recently, ahead of a Bahrain climate conference that opened today.
Mahmoud Mohieldin, the UN special envoy for financing the 2030 sustainable development agenda, shared his insights on the MENA region, financing climate and regional energy resilience.
The third annual Sustainability Forum Middle East takes place on Jan. 28 and 29.
Held under the patronage of Mohamed Bin Daina, Bahrain’s minister of oil and environment and special envoy for climate affairs, the SFME is supported by the Supreme Council for Environment.
The two-day event is expected to attract over 400 senior business leaders and sustainability experts from the region and beyond. The forum features more than 50 speakers from the MENA region, Europe, the UK, US and Brazil.
“The region is among the world’s best locations for renewable energy, and MENA countries are becoming increasingly prominent players in that sphere.”
“Between 2013 and 2023, the Middle East region quadrupled its share of solar energy generation, and it is currently home to record low levelized costs of electricity for solar PV (photovoltaic power),” he said.
While acknowledging the region’s unique strengths, Mohieldin also highlighted challenges posed by geopolitical tensions and strained economic conditions.
He stressed the importance of exploring mechanisms including carbon markets and debt swaps.
“Egypt’s launch of its first regulated voluntary carbon market is a significant step toward achieving economic and environmental sustainability,” he noted.
Commenting on the forum, Mohieldin said: “Events like the Sustainability Forum Middle East are essential to building on the momentum generated by successive COPs (Conference of the Parties) in the region and driving further action.”
On the topic of public-private collaboration, Mohieldin said: “The private sector enjoys significant financial resources that can be directed toward sustainability. Almost half of climate finance provided worldwide between 2011 and 2020 came from the private sector.”
Mohieldin also highlighted the transformative potential of technology and innovation in addressing climate challenges.
“Innovation is what made renewables today ubiquitously cheaper than any other energy source. Solar panel costs, for example, have fallen by around 20 percent for every doubling of global cumulative capacity,” he said.
Mohieldin pointed to the rapid advancements in artificial intelligence as a double-edged sword, offering tools for predictive modeling and climate risk assessment while also raising concerns about the “AI divide,” which could disadvantage developing countries.
When asked about his expectations for this year’s forum, Mohieldin outlined several key areas of focus, including hydrogen, water security, and Carbon Border Adjustment Mechanisms.
“The imminent implementation of CBAM will have notable consequences on critical industries in the region. Discussions at the forum should focus on synthesizing policy solutions to mitigate risks while using CBAM as an opportunity to nurture domestic or regional carbon markets,” he said.
Mohieldin also called for a greater emphasis on turning the region into a contributor to advanced technologies, rather than just a user, to strengthen its role in global sustainability.
RIYADH: Saudi Foreign Minister Faisal bin Farhan received his Turkish counterpart Hakan Fidan in Riyadh on Tuesday for talks on bilateral relations and regional issues of common interest, the Saudi Press Agency reported.
The ministers discussed ways to deepen ties and increase the trade exchange between their countries.
They also discussed developments on the regional and international arenas.
Saudi Arabia opens Makkah and Madinah to foreign investments
Move aims to boost the capital market’s competitiveness and align with the Kingdom’s Vision 2030 economic diversification objectives
While non-Saudis allowed to purchase properties in Kingdom, there are restrictions, in the holy cities ownership is generally limited to Saudis
Updated 28 January 2025
Nirmal Narayanan
RIYADH: Foreigners can now invest in Saudi-listed companies owning real estate in Makkah and Madinah, following a landmark decision by the Saudi Capital Market Authority.
Effective immediately, the move aims to boost the capital market’s competitiveness and align with the Kingdom’s Vision 2030 economic diversification objectives, the CMA announced in a press release.
While non-Saudis are allowed to purchase properties in the Kingdom, there are specific restrictions, and in the holy cities ownership is generally limited to Saudi nationals — although foreigners are allowed to lease properties there.
Under the new guidelines, foreign investments are limited to shares or convertible debt instruments of listed companies. Total non-Saudi ownership, including individuals and legal entities, is capped at 49 percent of a company’s shares.
However, strategic foreign investors are prohibited from holding stakes in these companies.
The move comes amid reforms across the region, with most neighboring countries allowing foreigners to own properties, primarily in free zones or designated areas under certain restrictions.
“Through this announcement, the Capital Market Authority aims to stimulate investment, enhance the attractiveness and efficiency of the capital market, and strengthen its regional and international competitiveness while supporting the local economy,” said the CMA.
The changes are also designed to stimulate foreign direct investment in the Kingdom’s capital market, as well as bolster its regional and international competitiveness.
“This includes attracting foreign capital and providing the necessary liquidity for current and future projects in Makkah and Madinah through the investment products available in the Saudi market, positioning it as a key funding source for these distinctive developmental projects,” added the CMA.
Strengthening the real estate sector and attracting more FDI into the Kingdom is one of the key goals outlined under the Vision 2030 program, as Saudi Arabia aims to reduce its dependence on crude revenues and diversify its economy.
The Kingdom aims to attract $100 billion in FDI by the end of this decade, and the government body has been implementing various initiatives and reforms to enhance the attractiveness of the capital market.
Some of these efforts include allowing foreign residents to directly invest in the stock market, enabling non-Saudi investors to access the market through swap agreements, and permitting qualified foreign capital institutions to invest in listed securities.
The CMA has also allowed foreign strategic investors to acquire strategic stakes in listed companies and directly invest in debt instruments.
In 2021, the CMA also allowed non-Saudis to subscribe to real estate funds investing within the boundaries of Makkah and Madinah, which played a crucial role in increasing the attractiveness of the capital market to both regional and international investors.
The share prices of real estate companies listed on Saudi Arabia’s stock exchange surged following the CMA’s announcement.
Knowledge Economic City saw its share price rise by 9.89 percent to close at SR16.66 ($4.44).
Jabal Omar Development Co.’s share price also increased by 10 percent to SR25.85, while Makkah Construction and Development Co.’s stock price climbed 9.84 percent to close at SR106.