المرأة السعودية ضمن أفضل نساء العرب
Abdullah Alami عبدالله العلمي
Saudi writer كاتب سعودي
July 22, 2024
Saudi Women among The Best Arab Women
July 15, 2024
Saudi Global Competitiveness
Abdullah Al Alami*
July
15, 2024
Saudi Arabia achieved a historic and
unprecedented reduction in the unemployment rate. The incentives are clear;
several recent decisions contributed to adding new job opportunities in attractive fields to the young generation. In addition, initiatives were launched
to adopt new policies to stimulate the recruitment of qualified Saudis with technical
skills and at the same time support advanced training programs Kingdome-wide.
Thus, there are distinctive transformations aimed
at diversifying the economy, which has created job
opportunities with good salaries and attractive incentives. This has improved the standard of living and enhanced purchasing power. Saudi
Arabia provides aid to companies that employ and train citizens to meet the country’s
labor market needs.
The outcome is clear; success in creativity and
innovation, and development of modern technologies to enhance the Kingdom’s global
competitiveness. There is also a keenness to provide young people with the skills
necessary to engage in advanced technical jobs. This will stimulate
professional development and contribute to building distinguished human capital
in a healthy job market.
Here are two recent examples. The Shura Council
called on Al-Baha University to create specialized programs with academic
accreditation. The Shura Council also called on Hail University to work on
diversifying its investments of its own revenues to achieve financial
efficiency and sustainability. I believe we need to expand the recruitment of qualified
faculty members in health, technical, and engineering specialties in all Saudi
major universities where possible.
How does oil fit into all of this? Benchmark
crudes are set to post some growth due to possible forecasts for demand and supply
disruptions are likely to ease. Strong fuel demand is expected in the United
States this summer, and oil demand will probably peak by 2029 at around 106
million barrels per day.
However, there are conflicting signals about
the US economy. The US Federal Reserve has not decided whether to keep interest
rates steady or postpone the decision until end of 2024. Ayman Al-Sayyari,
Governor of the Saudi Central Bank, stressed that Saudi Banks are safe from troubled
US Banks. Riyadh has reconfirmed the availability of safe and guaranteed liquidity,
and the strength of its financial position.
*Saudi Economist
July 2, 2024
Soon... Saudi Arabia Among the World's 15 Largest Economies
Abdullah Al-Alami*
Saudi arts and culture caught the attention of calligraphers and craftsmen at the Saudi pavilion at the 2024 Beijing International Book Fair. The Kingdom was rightfully named the guest of honor at the world’s second-largest book fair. The Saudi pavilion contributed to enriching the rapprochement between civilizations, and highlighting the Saudi intellectual side to the Chinese audience through a cultural program that included 15 seminars, an exhibition of traditional costumes, as well as a display of instruments used in Saudi music.
During the same period, Saudi Arabia mobilized the largest number of companies specialized in sustainable infrastructure to explore opportunities at the UK-Saudi summit in London. I might add that the value of trade exchange between Riyadh and London exceeded $21 billion, and the next goal is to increase the volume to $37.5 billion by 2030. Riyadh also hosted the Saudi-British Partnership Council meeting, attended by ministers, and 800 participants from the public and private sectors, to develop economic relations between the two countries.
The Saudi-US Investment Council also held meetings in Washington with the participation of 20 government agencies. The volume of trade exchange between the Kingdom and America in 2023 amounted to $34 billion, as mineral products were among the national goods exported to the United States, while cars and their parts were the most prominent American imported goods.
Saudi Arabia also achieved the fastest economic growth rate of 8.7 percent, and the percentage of Saudi non-oil activities in Saudi Arabia reached 51 percent of the real GDP. In addition, Riyadh granted exploration licenses in six precious metals sites, and the second largest global bank has allocated its headquarters in Riyadh. Saudi Arabia is expected to become one of the distinguished construction markets in the world with contracts amounting to $181.5 billion.
In short, Saudi Arabia is approaching the list of the 15 largest economies in the world.
*Saudi writer
May 29, 2024
The British ambassador is right
The British ambassador is right
Abdullah Al
Alami*
May 29, 2024
Saudi Arabia’s total non-oil exports reached 277 billion riyals.
This is a good indicator as the Kingdom continues its economic diversification efforts so that non-oil activities will contribute 50% to the country’s real GDP in 2030.
Let me provide a few examples. Saudi Aramco, one of the world's
leading integrated companies in the field of energy and chemicals, signed an
agreement with Pascal, the global leader in neutral atomic quantum computing,
to install the first quantum computer in the Kingdom.
How does oil fit in all this? Experts believe the Kingdom would
reach about 750 billion riyals in non-oil commodity exports by 2030, and probably
exceed one trillion riyals by 2035. Furthermore, the Saudi economy has achieved
more promising results as Riyadh succeeded in its non-oil wealth, such as gold,
copper, phosphate, and other minerals, which amounted to 9.4 trillion riyals.
Neil Crompton, the British Ambassador to Saudi Arabia, revealed that
the Saudi Public Investment Fund (PIF) invested 21 billion pounds sterling
(about 100 billion riyals) in the United Kingdom during the past four years. These
investments were allocated to infrastructure and advanced technology.
His Excellency the Ambassador is right, the Saudi economy has
achieved remarkable gains in foreign direct investment reaching 2.4% as a
percentage of the gross domestic product in 2023. Also, Saudi Arabia has
attracted about 200 international companies who plan to move their regional
headquarters to Riyadh. The incentives are clear; the value of the Public
Investment Fund managed assets reached 2.81 trillion riyals during 2023. Furthermore,
Riyadh is keen to target about 36 thousand factories by 2030 and to finance
small and medium enterprises with about 10 billion riyals.
In short, Saudi Arabia has achieved several major gains that contributed
to enhancing opportunities for Saudi youth in preparation for the post-vision
phase. I hope His Excellency the British Ambassador will also convey the
message that Saudis are qualified with the latest specializations and modern
programs to add qualitative value to the Saudi economy, along with knowledge
and technological intelligence in preparation for the upcoming challenges.
*Saudi writer
March 16, 2024
Revitalizing the economy and tourism in Bahrain
Abdullah Al Alami*
Saturday,
March 16, 2024
I present the most
important recent developments in the Kingdom of Bahrain in the fields of
economy and tourism.
First, the state
succeeded in encouraging local and international companies to generate
investments worth $2.4 billion into the national economy.
Second, since the
announcement of granting the golden license to strategic projects operating in
the Kingdom in April 2023, the number of companies benefiting from this feature
has reached 9 major projects that contribute to the creation of 3,000 job
opportunities.
Among other factors that
helped achieve good results, Bahrain’s gross domestic product grew from $9.6
billion to $44.4 billion between 2002 and 2022.
Bahrain continues to diversify
its non-oil economy, such as opening a large solar energy plant and developing
financial services which contribute 18.1 percent to the real GDP.
As for tourism, there were
concerns due to the lack of new tourist packages, low hotel occupancy rates, and the
fate of the medical tourism plan. However, Bahrain is marketing initiatives to
attract Gulf and foreign visitors. There is no doubt that tour packages will
have a significant impact on stimulating the economy and supporting the initiatives
that attract tourists from all over the world.
Furthermore, Manama is developing
and adopting new marketing strategies, facilitating the issuance of visas, and
activating sustainability practices and financial mechanisms to enhance tourism
growth regionally and internationally. There is no doubt that this trend will help
create more job opportunities, support innovation, and provide specialized
expertise in the tourism sector. Among the upcoming programs, is the development
of the master plan for the Al Areen project and Sitra Market. The plan is to
attract 40,000 tourists to Bahrain from around the world during the period from
November 2024 to April 2025.
* Saudi writer and president of the Arab Society for Human Resource
Management