logo
PepsiCo Launches Regional HQ in Riyadh's KAFD, Boosting Local Investments, Employment

PepsiCo Launches Regional HQ in Riyadh's KAFD, Boosting Local Investments, Employment

Leaders21-04-2025

PepsiCo has inaugurated its new regional headquarters in Riyadh's King Abdullah Financial District (KAFD), strengthening its commitment to the Kingdom through major investments. These include state-of-the-art production facilities in Dammam and an expanding role in Saudi Arabia's agricultural sector, where the company sources potatoes from local farms.
Operating across 86 locations in the Kingdom, PepsiCo—alongside its packaging partners—has created more than 9,000 jobs. The company also runs innovative employment and training initiatives, such as: 'Future is Saudi' – Equipping Saudi youth with skills to enhance employability in line with Vision 2030.
'Youth Impact Studio' – Fostering sustainability expertise among young professionals.
'Tamakani' – Empowering Saudi women, with over 100,000 beneficiaries to date.
These efforts support Saudi Arabia's strategic shift toward a sustainable, diversified economy. Multinational corporations like PepsiCo play a key role in this transformation by generating jobs and introducing global best practices in agriculture, industry, and logistics.
The Kingdom continues to cultivate a dynamic investment ecosystem, offering foreign investors advanced infrastructure, streamlined logistics, and business-friendly policies. These advantages reinforce Saudi Arabia's position as a leading global investment hub.
Under Vision 2030, Saudi Arabia's economic reforms have spurred a surge in international business activity. Around 600 companies have now established regional headquarters in the Kingdom, while total investments have doubled to SAR 1.2 trillion, accounting for 30% of the Saudi economy. This growth reflects strong global confidence in the Kingdom's evolving investment landscape.
Related Topics:
Saudi Arabia's Regional HQ Program Attracts International Firms
KAFD Earns 3 LEED Platinum Certifications, Boosting Sustainability Leadership
Saudi Arabia Launches 'Discover Mecca' Map, Offers Smooth Access to Landmarks
Global Logistics Forum 2024 in Riyadh: Reshaping Global Trade Map
Short link :
Post Views: 1

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Saudi Arabia cut workplace deaths by 75pct, created more health, safety jobs: Official
Saudi Arabia cut workplace deaths by 75pct, created more health, safety jobs: Official

Al Arabiya

time4 hours ago

  • Al Arabiya

Saudi Arabia cut workplace deaths by 75pct, created more health, safety jobs: Official

Saudi Arabia has reduced workplace fatalities by more than 75 percent and created more than 29,000 jobs in occupational safety and health since 2018 as part of a sweeping national strategy to make worker wellbeing central to its Vision 2030 transformation, a senior official told Al Arabiya English in an interview. The Kingdom is making major strides in occupational safety and health through regulatory reform, digital transformation, and international alignment, according to Majed al-Fuwaiz, Secretary General of the National Council for Occupational Safety and Health. 'We are already seeing real and measurable progress,' al-Fuwaiz told Al Arabiya English. 'Occupational injury rates in the Kingdom have dropped by more than 41.8 percent since 2018, and workplace fatalities have fallen from 3.83 to 0.94 per 100,000 workers, which represents a drop by 75.4 percent, by the end of 2024.' Al-Fuwaiz also said more than 29,000 new jobs have been created in occupational safety and health, helping to build a new generation of skilled Saudi professionals. 'We have digitized 62 percent of occupational safety and health processes, up from just 30 percent a few years ago,' he said. Modernize labor standards These achievements are part of a broader Vision 2030 strategy to modernize labor standards, expand the role of the private sector, and ensure safer, more productive workplaces across the Kingdom, according to him. 'We've taken a proactive and strategic approach to workplace safety, rooted firmly in our Vision 2030 goals,' al-Fuwaiz said. He highlighted several key initiatives, including the National Strategic Program for Occupational Safety and Health launched in 2017, the approval of a national policy in 2021, and the creation of the National Council for Occupational Safety and Health in 2022. The council unites 16 government bodies, employers, and worker representatives to coordinate safety efforts across all sectors. Enforcement has become more consistent and transparent thanks to a unified national governance system and real-time digital tools, al-Fuwaiz said. 'The National Platform for Incident Reporting and Investigation enables real-time reporting, risk analysis, and coordination between inspection teams,' he said. This digital infrastructure has boosted responsiveness, allowing authorities to quickly address high-risk areas. To measure and improve compliance, Saudi Arabia uses performance dashboards, physical inspections, and initiatives like the National Excellence and Compliance Model. 'Saudi Arabia's compliance is measured using a data-driven approach,' he said. The Kingdom has also embedded international labor standards into its legal framework. 'A major milestone was the ratification of ILO Convention No. 187,' said al-Fuwaiz, adding that the Kingdom is working toward ratifying Convention No. 155 as well. 'These commitments are reflected in real regulatory reforms.' Workforce development Training and workforce development are central to the plan. Saudi Arabia launched the Occupational Safety and Health Cadres Program to license professionals in the field and offers free online training in eight languages to expand access to safety education. 'This initiative aims to support the implementation and enforcement of occupational safety and health requirements in the workplace,' he said. Al-Fuwaiz also addressed global challenges, including climate-driven heat stress, mental health issues, and shifting labor patterns in the gig economy. 'The need for stronger workplace protections has never been clearer,' he said. 'Simply put, no one country can tackle these challenges alone.' Youth leading innovation Young people are also playing a leading role in innovation, he said. A hackathon hosted alongside this year's Global Occupational Safety and Health Conference attracted more than 1,000 participants from nine countries, with 465 project proposals submitted. 'More than 82 percent of the participants are under the age of 35,' he said. 'It's a great example of how fresh thinking and collaboration can lead to practical, high-impact solutions.' 'Through innovation and scale, Saudi Arabia is helping build a healthcare and labor system that is efficient, inclusive, and globally competitive,' al-Fuwaiz said. GOSH7 The official revealed the recent data at the seventh Global Occupational Safety and Health Conference (GOSH7) held in Riyadh in May. The conference brought together global experts, innovators, and policymakers to tackle emerging risks and promote sustainable workplace safety systems. 'GOSH7 provided an important platform to bring global expertise together, exchange ideas, and find real-world solutions to the challenges we all face,' the Secretary General of the National Council for Occupational Safety and Health. 'Hosting this conference annually reflects our commitment to ensuring worker wellbeing remains at the heart of economic and social development,' al-Fuwaiz added. 'It also supports our Vision 2030 ambitions to build a more resilient, competitive, and sustainable economy.' This year's conference explored topics such as the impact of digitization and climate change on workplace safety, innovation in risk mitigation, and the economic benefits of investing in occupational health.

Saudi Bonds: A Safe Haven in Emerging Markets
Saudi Bonds: A Safe Haven in Emerging Markets

Asharq Al-Awsat

time4 hours ago

  • Asharq Al-Awsat

Saudi Bonds: A Safe Haven in Emerging Markets

As global investors remain cautious about debt in emerging economies, Saudi Arabia is increasingly seen as a stable and attractive investment destination. This confidence stems from its strong financial foundation and ambitious economic transformation plans. Karine Kheirallah, Head of Investment Strategy and Research for Europe, the Middle East, and Africa at State Street Global Advisors, one of the world's largest asset managers, highlighted Saudi Arabia's compelling macroeconomic story. She noted that while many countries struggle with high debt and rising servicing costs, Saudi Arabia maintains a relatively low debt-to-GDP ratio of 29.9% as of December 2024. Even with planned increases to support Vision 2030 investments, it is expected to remain well below global averages. This fiscal discipline positions Saudi Arabia as a reliable sovereign bond issuer within emerging markets. Kheirallah expects the Kingdom to see steady economic growth in the coming years, led by structural reforms and non-oil sector investments. Though growth may not match the pace of some emerging markets, it is likely to outperform many advanced economies, making Saudi bonds appealing for investors seeking long-term value and stability. In the first quarter of 2025, Saudi Arabia's economy grew by 3.4% year-on-year, driven primarily by a 4.9% expansion in non-oil sectors, which contributed significantly to real GDP growth. Vision 2030 plays a vital role in developing Saudi Arabia's fixed-income market. Kheirallah explained that to finance major projects such as NEOM, both the government and the Public Investment Fund have expanded bond and sukuk issuances, including green financing. This has led to a more mature yield curve and improved price discovery across maturities. The inclusion of Saudi dollar-denominated bonds in J.P. Morgan's Emerging Markets Index in 2019 was a turning point, signaling global investor confidence. This move helped lay the groundwork for a more robust and sustainable debt market. Saudi bonds also benefit from strong credit ratings. Moody's upgraded Saudi Arabia to A1 in November 2024, and S&P raised its rating to A+ in March 2025. These reflect the country's financial strength and effective reforms. While public debt is rising, Kheirallah emphasized it remains manageable. However, sustaining fiscal health will depend on continued diversification and growing non-oil revenues. Maintaining high credit ratings, she stressed, will require ongoing financial discipline and successful reform implementation.

Saudi Arabia, Netherlands Sign Agreements in Environmental, Agricultural Fields
Saudi Arabia, Netherlands Sign Agreements in Environmental, Agricultural Fields

Leaders

time6 hours ago

  • Leaders

Saudi Arabia, Netherlands Sign Agreements in Environmental, Agricultural Fields

Saudi Arabia and the Kingdom of the Netherlands have signed multiple agreements and memoranda of understanding (MoUs) aimed at strengthening cooperation in the fields of environment, water, and agriculture. These agreements, involving both public and private sector entities from both countries, include investments totaling more than SAR 428 million. The funds will be directed toward developing and localizing advanced technologies in these critical sectors. The signings took place during the visit of Saudi Vice Minister of Environment, Water and Agriculture, Eng. Mansour bin Hilal Al Mushaiti, to the Netherlands from June 10 to 12. A total of 27 agreements and MoUs were formalized in the presence of senior ministry officials and representatives from Saudi and Dutch organizations. This visit aligns with the Ministry's broader strategy to elevate the global competitiveness of Saudi Arabia's agricultural sector, promote the production and export of local agricultural goods, enhance trade relations with the Netherlands, and deepen international cooperation. These efforts support the objectives of Saudi Vision 2030. Related Topics: Saudi Arabia, Netherlands Discuss Trade Cooperation ROSHN Green Initiative Center: Inspiring Future Environmental Leaders Saudi Arabia Welcomes Foreign Real Estate Investors Outside Holy Cities All You Need to Know about Hajj Rituals: A Step-by-Step Guide Short link : Post Views: 7 Related Stories

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store