
Taif hosts first rose, aromatic plants forum
It will be held under the patronage of Makkah Deputy Gov. Prince Saud bin Mishaal, with Taif Gov. Prince Saud bin Nahar in attendance, the Saudi Press Agency reported.
Running until April 26, the forum will feature dialogue sessions and workshops organized by Taif University, along with an exhibition showcasing key innovations and products in the field.
Taif will also unveil the Kingdom's largest rose tifo through the 'Tifo Rose Walk' at Arruddaf Park, creating a striking public artwork that celebrates the city's floral identity.
The forum is a strategic initiative to enhance the Kingdom's role as a global hub for rose and aromatic plant production, particularly the Taif rose — a symbol of Saudi perfumery and a nationally recognized export.
It aims to foster strategic partnerships and attract investment in the rose and aromatic plant sectors, in line with Vision 2030's goals to diversify income sources and elevate national products.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Saudi Gazette
2 hours ago
- Saudi Gazette
PIF reports 19% growth in assets under management, $171 billion invested in priority sectors since 2021
Saudi Gazette report RIYADH — The Public Investment Fund (PIF) has reported a strong performance for 2024, with assets under management (AuM) rising 19% to $913 billion and total revenue increasing by 25%, according to its newly published annual report. The results highlight PIF's expanding role in driving Saudi Arabia's economic transformation and shaping global markets. Since 2021, cumulative investments in priority sectors have exceeded $171 billion, with $56.8 billion deployed in 2024 alone. The fund's average total portfolio return has reached 7.2% annually since 2017, and its cash position remains broadly unchanged, reflecting robust liquidity. PIF's contribution to the Kingdom's non-oil GDP between 2021 and 2024 totaled $243 billion, representing 10% of the national non-oil economy. The fund has established 103 companies to date, bringing its total portfolio to 225 companies by the end of 2024, while advancing strategic sectors, localization, and innovation. Key milestones in 2024 included partnerships in sports, technology, energy, and entertainment — such as launching Alat, a technology firm focused on semiconductors and smart devices; creating the Neo Space Group to champion the satellite and space sector; and entering multi-year agreements with ATP and WTA to boost global tennis. PIF also acquired a 15% stake in Heathrow Airport and launched Adeera, a Saudi hospitality brand. Internationally, PIF continued to expand its global investment footprint, raising $16.83 billion in public and private debt while earning credit rating upgrades from Moody's and Fitch. Governance performance also reached a milestone, with PIF scoring 96% in Global SWF's 2024 GSR Scoreboard and tying for first place globally in 2025 with a score of 100%. PIF also recorded strong brand growth, with Brand Finance naming it the world's most valuable and fastest-growing sovereign wealth fund brand in 2024.


Leaders
2 hours ago
- Leaders
Riyadh's Global Rise: Can Saudi Arabia Become a Business Powerhouse?
By: Ranim Elgabakhngi Long defined by oil wealth, Saudi Arabia is rapidly reshaping its economic identity. In 2025, the Kingdom's ambitious Vision 2030 reform program is positioning it as an emerging global business hub, with data pointing to deepening international integration and a shift toward sustainable, diversified growth. Pivoting Beyond Oil The latest GDP figures highlight the shift: non-oil economic activity powered a 4.2% growth in the first quarter of 2025, signaling tangible progress in reducing the Kingdom's long-standing reliance on hydrocarbons. At the heart of this transformation is the Public Investment Fund (PIF), the sovereign wealth fund now managing over $700 billion in assets. Its investments span technology, infrastructure, logistics, tourism, and green energy—aligning with Vision 2030's goals of economic diversification and innovation-led development. Business-Friendly Reforms Reforms are playing a key role. Saudi Arabia has introduced sweeping changes to attract investors, including allowing 100% foreign ownership in most sectors through licenses issued by the Ministry of Investment (MISA), and drastically reducing business setup times. The result: improved rankings. The Kingdom climbed in the 2025 Global Intellectual Property Index, reflecting enhanced protections for investors and innovators. Strategic Growth Zones Flagship projects like NEOM and the creation of five Special Economic Zones (SEZs) are central to Vision 2030. These SEZs are tailored to high-growth industries—including FinTech, healthcare, e-commerce, renewable energy, and digital infrastructure—offering tax incentives and regulatory advantages to global investors. Construction, logistics, and the digital economy are also seeing heightened activity, as Saudi Arabia aims to become a regional—and eventually global—hub for supply chains and innovation. Rising Global Engagement Foreign direct investment (FDI) continues to grow. In Q1 2025, net FDI inflows reached SAR 22.2 billion ($5.9 billion), up 44% year-on-year, as investor confidence in the Kingdom's long-term strategy strengthens. Saudi Arabia also rose to 17th place in the 2025 IMD World Competitiveness Ranking, outperforming several larger economies and reflecting the country's growing business appeal on the global stage. Outlook: Regional Dominance, Global Reach With non-oil GDP expanding, investment flows accelerating, and reforms deepening, Saudi Arabia is fast approaching its goal of becoming a major global business hub. Its growing dominance in logistics and ease of doing business are expected to further solidify its position as both a regional powerhouse and a serious global contender. The transformation, once viewed with skepticism, is now beginning to yield measurable results—with Riyadh emerging as a city to watch in the global economy. Short link :


Leaders
3 hours ago
- Leaders
Saudi Arabia's Global Sports Hub Role: The Rise of Mega-Events
By: Ranim Elgabakhngi Can a nation reshape its global identity through sports? Saudi Arabia is putting that question to the test, accelerating its bold 'Vision 2030' transformation strategy by staging a growing list of high-profile sporting events aimed at cementing its place on the world stage. A Packed Sporting Calendar In 2025, the Kingdom hosted a wide range of elite competitions, underscoring its rapid emergence as a global sports hub. The Formula One Saudi Arabian Grand Prix returned to the Jeddah Corniche Circuit for a fifth straight year, while the LIV Golf season kicked off in Riyadh—highlighting the Kingdom's deepening footprint in golf. Major events such as the Saudi Cup horse race, international boxing bouts, the Jeddah E-Prix, and the inaugural World Rally Championship stop in Saudi Arabia further illustrated the Kingdom's growing sporting influence. Following its successful bid to host the 2034 FIFA World Cup, Saudi Arabia also staged the 6th Islamic Solidarity Games and the latest round of the FIFA World Cup Asian Qualifiers. Vision 2030 in Motion Much of this surge is being driven by Vision 2030, the Kingdom's wide-ranging plan to diversify its economy and modernize its society. Since 2021, more than $6 billion has been invested in sport; by 2023, that figure had surpassed $7 billion, fueling non-oil GDP growth, job creation, and a spike in international tourism. The powerful Public Investment Fund (PIF) has spearheaded Saudi investments across global sport—including the Saudi Pro League, English club Newcastle United, LIV Golf, and partnerships in Formula 1, boxing, and tennis, most recently hosting the WTA Finals. Economic and Social Impact The financial returns are notable: increased revenues from ticketing, sponsorships, broadcasting, and tourism, along with a surge in foreign investment. Yet the strategy goes beyond economics. Officials say the sports push is reshaping societal norms, encouraging physical activity—especially among women—and fueling national pride. It's also part of a wider plan to build a homegrown sporting industry and nurture Saudi talent on the world stage. Looking Ahead As Saudi Arabia eyes future investments in esports, AI-driven smart stadiums, and next-generation fan experiences, its long-term goal remains clear: to build a sustainable, self-sufficient sports ecosystem while projecting a modern image of the Kingdom to the world. The playbook is ambitious—and so far, the results are drawing global attention. Short link :