Latest news with #Asir
Arab News
28-05-2025
- Business
- Arab News
Saudi Arabia's Asir region revitalizes 95% of stalled projects
ABHA: Saudi Arabia's Asir region has successfully revitalized 95 percent of its previously delayed project, an important milestone that is strengthening investor confidence as the region moves forward with SR29 billion ($7.73 billion) worth of initiatives across various sectors. In an interview with Arab News, Hashim Al-Dabbagh, CEO of Asir Region Development Authority, stated that a dedicated committee, chaired by Asir Gov. Prince Turki bin Talal, was formed several years ago to tackle long-standing investment challenges that had stalled progress in the region. 'The total number of cases that have been brought to this committee to address has been 63, all brought to the table,' Al-Dabbagh said. He continued: 'Of these 63 cases that have been brought to this committee to address and to solve, 60 cases have been solved, and three are in the pipeline right now, and they're working on them, and they're going to solve them relatively soon.' Of the 60 resolved, 57 were concluded with outcomes that satisfied investors, reflecting a resolution rate of nearly 95 percent. 'This committee and the work that they have done has created some very positive vibes across the investment ecosystem in Saudi Arabia, which you sense in this forum because there are some very large investors that are coming to Asir, some coming back to Asir which had not been interested in this region in the past,' Al-Dabbagh said. The board operates in collaboration with various public and private entities, including ASDA, the Ministry of Investment, the Ministry of Tourism, the Tourism Development Fund, and King Khalid University, ensuring a unified approach to accelerating investor activity in the region. This resolution mechanism plays a key role in supporting the region's development strategy, which focuses on unlocking investment potential across various sectors. 'First of all, we have a strategy that drives everything that we are doing,' Al-Dabbagh said. He added: 'The strategy has been approved by the center of government, and it says that Asir should be a year-round preeminent destination, so already we know that we need to focus on the tourism sector and complementary and adjacent sectors to the tourism sector. That's one, and that gives us a lot of momentum in working with the government ecosystem and the private sector.' Al-Dabbagh emphasized that Asir is more than just a tourism destination, noting that it is a vast region in the Kingdom with a population exceeding 2 million people. 'Within the Asir Development Authority, we have a whole department called Economic Development Department, and they are working diligently this year on sectoral studies across the board.' He added: 'This includes, obviously, tourism-related sectors, but also other ones, so just as an example, we are looking at sports, we are looking at construction. We're looking at fisheries and agriculture. We're looking at renewable energy. We're looking at mining among other sectors.' The authority is also aligning its economic strategy with educational institutions to ensure the region's workforce is equipped to meet the demands of upcoming sectors. 'We are working closely with King Khalid University, the TVTC (Technical and Vocational Training Corp.), Bishop University, and other educational institutions to align the strategies and to make sure that their graduates are able to find jobs in the opportunities that are going to be realized as we realize this strategy,' he said. On attracting investments, Al-Dabbagh stated: 'What I call the investment ecosystem in Asir, it's the framework that we use to assess investments, is comprised of three components. The first component is the Invest in Asir committee, and that's headed by Prince Turki in his capacity as the chairman of the Aseer Development Authority and includes all the public and private sectors.' He explained that the region offers a compelling opportunity for early movers due to its untapped potential, strategic government backing, and the ability to enter key sectors before they reach full maturity, providing investors with a critical advantage in shaping long-term development. 'Asir relative to those mature, tourism destinations, offers relatively less mature areas, so when they're coming in, they're coming in early and they're going to have a ... not a first mover advantage, but an early mover advantage compared to people that are going to see this place for five years or 10 years down the road when all these incumbents are already on the ground.' Attracting FDIs Foreign direct investment is also gaining momentum in Asir, with growing interest from global players seeking early opportunities in the region's evolving landscape. 'One of the speakers in today's forum was Fatih (who is managing partner of FTG Development), and they are looking at an investment worth billions in Asir. That is just one example, and foreign direct investors, they look for successful local investors to partner with,' Al-Dabbagh said. He concluded: 'Our doors are open. We're very happy to meet with the investors from anywhere.'
Arab News
28-05-2025
- Business
- Arab News
Saudi investment ecosystem drives growth in Asir region, says top executive
ABHA: Saudi Arabia's integrated investment ecosystem is enhancing the attractiveness of the Kingdom's business environment across all regions, with Asir standing out as a promising destination, according to a senior executive. During a panel session at the second Asir Investment Forum in Abha, Khalid Al-Khattaf, CEO of the Saudi Investment Promotion Authority, highlighted the region's unique natural, economic, and cultural assets that position it for significant potential, the Saudi Press Agency reported. The session highlighted the region's tourism transformation and the roles of government entities and the private sector in driving projects and fostering an investment-friendly environment. Al-Khattaf noted that Saudi Arabia boasts one of the world's most competitive environments, thanks in part to the efforts of the National Committee for Identifying and Developing Opportunities, which has introduced over 1,900 investment prospects valued at more than SR1 trillion ($266.6 billion) across 22 vital sectors. These opportunities align with Vision 2030 and the National Investment Strategy, which aims to double investment volume and attract SR12.4 trillion by 2030. Sector-specific strategies also offer long-term visibility and regulatory stability for investors. 'We have presented more than 1,900 opportunities through the 'Invest in Saudi Arabia' platform, including sectors such as tourism, hospitality, agriculture, real estate and others,' Al-Khattaf said. Furthermore, the Kingdom's strategic geographic location, at the crossroads of three continents and within reach of over half the world's population in seven hours, positions it as a global hub for business, tourism, and services. Al-Khattaf emphasized Asir's unique offerings, including 80 percent of the Kingdom's forests, its highest mountain peak, more than 4,000 historical villages, and globally recognized heritage sites such as Rijal Almaa. He highlighted that the region is well-positioned to become a premier tourism and investment destination, particularly as Saudi Arabia channels over $800 billion into tourism projects to help meet its goal of attracting 150 million visitors by 2030. He also pointed to key investment enablers, such as exemptions from foreign investment fees, accommodation levies, government land charges, and value-added tax. Al-Khattaf outlined the pivotal role of the Saudi Investment Marketing Authority in promoting investment prospects throughout the Kingdom, particularly in high-potential regions such as Asir. This includes digital platforms, international events, and direct investor engagements. A dedicated Asir page is featured on the new version of the platform in seven languages, highlighting key indicators, opportunities, and reports, including a special 'Invest in Asir' report developed by the Ministry of Investment to inform investors of the region's advantages. The authority, in collaboration with its partners in the investment system, continues to improve the legal and regulatory environment, SPA reported. A new law now allows for 100 percent foreign ownership and guarantees equal rights for both local and international investors. 'We have developed a program to listen to investors and understand their challenges, in addition to focusing on improving the investor experience through comprehensive service centers, relationship managers, the 'Investor Journey' guide, and dedicated reports such as 'Invest in Asir,' in addition to investor listening programs to ensure that challenges are addressed directly,' Al-Khattaf said. He also noted the authority's close coordination with the Asir Development Authority to align with the region's strategy and future goals. This collaboration has led to the identification of over 46 high-quality opportunities in the tourism sector. As of the end of 2023, direct investments in Asir had exceeded SR7.68 billion, placing it sixth among the Kingdom's regions in terms of foreign investment stock. The number of active foreign investment licenses in Asir reached 467 by early 2025, reflecting growing investor interest and confidence in the region's potential and investment environment.
Arab News
27-05-2025
- Business
- Arab News
Saudi Arabia's Asir region secures $1.06bn boost as total investments climb past $6.6bn
RIYADH: Saudi Arabia's Asir region is set to receive a fresh investment boost of SR4 billion ($1.06 billion), raising the total value of government-backed projects in the area to more than SR25 billion, according to a senior official. Speaking at the second Asir Investment Forum in Abha, Prince Turki bin Talal, governor of Asir, announced that over SR5 billion in investments are already underway. The newly pledged SR4 billion will be formally revealed during the two-day forum. This investment surge is part of the Asir Region Development Strategy — the Kingdom's first development plan tailored to a specific region — launched in 2021 by Crown Prince Mohammed bin Salman. The strategy aims to transform Asir into a world-class tourism destination, with a goal of attracting more than 10 million visitors annually by 2030, while driving sustainable development through tourism and strategic investment. In his opening remarks, the governor said: 'With more than SR25 billion committed to essential government projects and investments that have already begun implementation on the ground — through projects by the Public Investment Fund, the Tourism Development Fund, the Social Development Bank, and other financing entities — in line with the state's belief that Asir is an economic powerhouse and a fundamental enabler for the private sector.' He added: 'Since the launch of the Asir strategy, committed investments exceeding SR5 billion have already begun implementation, in addition to SR4 billion whose details will be announced during this forum.' Sultan Al-Shahri, chief of investment at the Aseer Development Authority, underscored the scale of ongoing activity, noting that the region is progressing with 79 investment projects worth more than SR29 billion. Of these, 49 projects valued at SR25.6 billion are in the attraction phase, while 30 confirmed initiatives account for SR3.8 billion. He said private sector agreements signed during the first edition of the forum amounted to SR1.7 billion, with presented opportunities totaling SR3 billion, signaling growing domestic and international investor interest aligned with Vision 2030's objectives. Held under the theme 'Asir Thrives… Invest Now,' the second edition of the forum opened on May 27 at King Khalid University in Al-Fara'a, Abha. Organized by the Aseer Development Authority, the event drew over 1,500 participants, including ministers, business leaders, and regional experts. A key development announced at the forum was the launch of 'Qimam Al-Sarrah,' a new investment arm intended to streamline land development and simplify regulatory processes to facilitate investor access. Ministerial participation included Saudi Tourism Minister Ahmed Al-Khateeb, Qatari Minister of Municipal Affairs Abdullah Al-Atiyah, and Saudi Communications and Information Technology Minister Abdullah Al-Swaha. During a plenary session, the ministers emphasized the strategic role of digital infrastructure, smart services, and mega-events — including Abha's bid to host the 2034 FIFA World Cup — in driving economic momentum. Saudi Commerce Minister Majid Al-Qasabi, addressing the forum virtually, affirmed the region's transformation. He stated that Asir is undergoing a qualitative transformation across various levels, positioning it as one of the most promising areas on Saudi Arabia's investment map — thanks to its human, natural, and economic resources. Al-Qasabi noted that the Ministry of Commerce is currently reviewing over 110 commercial regulations to enhance the business environment. These include reforms to the Companies Law, Franchise Law, Anti-Concealment Law, and E-Commerce Law, as well as expanding the role of the National Competitiveness Center. Al-Qasabi added: 'We succeeded in launching an extensive corrective campaign, allowing business owners to voluntarily adjust their status. This contributed to a significant drop in concealment cases and a notable increase in compliance.' As of April 2025, the Kingdom has more than 1.7 million commercial registrations, including 90,000 in Asir — representing 5.3 percent of the national total. According to Al-Qasabi, between 2018 and 2025, joint-stock companies in Saudi Arabia grew by 76 percent, from 2,300 to 4,000. Limited liability companies surged by 138 percent to 386,000, while sole proprietorships rose 32 percent to reach 1.2 million. Al-Qasabi also revealed that Saudi Arabia aims to finalize 20 free trade agreements by 2030. Capital Market Authority Chairman Mohammed El-Kuwaiz addressed efforts to mobilize regional investment through financial markets, including accessible financing mechanisms and regulatory support. Tourism, a key pillar of the Asir strategy, featured prominently throughout the forum. The Saudi tourism minister emphasized the region's competitive edge. 'The region's rich natural and cultural assets are key drivers of tourism investment, which is essential for sustainable development and community empowerment,' Al-Khateeb said. Figures released on the Ministry of Tourism's X account during the event showed tourism momentum accelerating. Domestic tourism rose 11 percent year-on-year in the first quarter of 2025 to 1.4 million Saudi visitors. International tourism surged 42 percent to 68,900 visitors. Tourism-related employment also climbed, with 47,700 jobs recorded — a 2.5 percent increase since late 2024. The Saudization rate stood at 16.2 percent, with gender participation balanced. In Ministry-supervised sectors, 2,600 jobs were recorded, with a 29 percent Saudization rate and near-equal gender representation. The concurrent exhibition showcased key regional projects and institutional stakeholders, highlighting growing public-private collaboration in the Asir region. The forum concluded with a reaffirmation of Asir's role as a cornerstone of Saudi Arabia's diversification strategy — one that aims to balance economic opportunity with cultural preservation and long-term sustainability.
Arab News
16-05-2025
- Science
- Arab News
How Saudi Arabia is safeguarding biodiversity by restoring its ancient juniper forests
RIYADH: High in the misty mountains of southwestern Saudi Arabia, the juniper tree — known locally as the 'lady of trees' — has long stood as a quiet sentinel over the Kingdom's highland ecosystems. Revered for its resilience, ecological role, and cultural legacy, this ancient species is now the focus of a national conservation drive to reverse decades of environmental decline. Juniper woodlands flourish between 2,500 and 3,000 meters above sea level in regions such as Taif, Al-Baha, and Asir. These evergreen conifers, draped in needles and peppered with cones, are more than just picturesque. They are ecological relicts — living remnants of ancient Afromontane forests that once stretched across parts of Arabia. 'Juniper trees have created a unique microclimate in areas where arid and semi-arid ecosystems such as deserts, mountains, and high plains are prevailing,' Liubov Kobik, a junior environmental consultant at Terra Nexus, told Arab News. These woodlands offer a rare sanctuary for biodiversity in a country better known for its deserts. 'These areas are nowadays called juniper woodlands and are considered as biodiversity hotspots supporting thousands of vascular plants, unique and mammalian species,' Kobik added. The forests are home to rare and endangered species such as the Arabian leopard, hamadryas baboon, and the endemic Asir magpie. Ecologically, junipers stabilize mountain slopes, protect against soil erosion, and offer nesting and foraging habitats for a wide range of species. Their berries are a food source for wildlife, while their dense canopy helps retain moisture and moderate temperatures. 'Unlike most of Saudi Arabia, the Asir mountains receive relatively high levels of rainfall, particularly during the summer monsoon season,' Kobik said. 'This moisture supports a variety of vegetation types, from dry acacia woodlands at lower altitudes to more humid and dense juniper forests in the highlands.' But these vital ecosystems are under threat. Long-term climate change, rising temperatures, and erratic rainfall have caused a decline in juniper populations. 'Rising temperatures and periodic droughts … are caused by climate change, resulting in reduced and increasingly erratic rainfall patterns, characterized by extended dry seasons and infrequent yet more intense storms,' Kobik said. 'This disruption in natural water availability hinders the establishment of young juniper seedlings, making successful regeneration increasingly uncommon,' she said. 'Less rainfall and rising temperatures are increasing evaporation rates, drying out soil faster. 'This makes growing conditions tougher for seedlings and saplings, which struggle more with heat and drought compared to mature trees. Consequently, the natural replacement of older trees by new growth is greatly hindered.' • Jabal Soudah in Asir is 3,015 meters above sea level and is covered with juniper trees. • The common juniper has the largest geographic range of any woody plant in the world. • Unlike other trees, the juniper grows in acid and alkaline soils. Juniper bushes can live up to 120 years, with the oldest recorded specimen aged 255. Overgrazing and land development have compounded the crisis. Livestock, particularly goats and sheep, often trample young saplings before they have a chance to mature. In response, Saudi Arabia is taking action. Soudah Development, a project backed by the Public Investment Fund, has launched a major reforestation campaign that has planted nearly 165,000 native trees — including junipers — throughout the highlands. 'Additionally, Asir National Park, established in the 1980s, functions as a significant protected area where juniper forests are a conservation priority,' Kobik said. 'Within the park, measures are implemented to limit deforestation, overgrazing, and land development — factors that have historically led to the reduction of juniper populations.' Kobik explained how authorities are partnering with the National Center for Vegetation Development and Combating Desertification to promote regeneration. 'Park authorities … are undertaking habitat restoration initiatives that include fencing regeneration zones, controlling livestock access, and monitoring tree health,' she said. 'Protective fencing has been installed around the most sensitive zones to facilitate natural regeneration by preventing goats and sheep (or other livestock) from accessing the areas. 'These measures address a primary issue hindering juniper recovery: although seeds germinate, saplings often fail to mature due to browsing and trampling by animals.' Beyond their environmental value, junipers hold deep cultural significance in Saudi Arabia. For generations, their wood has been used to craft ceremonial objects and household tools. Their berries are used in traditional medicine to treat ailments such as colds and stomach issues. Juniper oil, prized for its natural fragrance, also finds its way into perfumes and soaps. Once overlooked in the rush of modern development, these ancient trees are now being championed as symbols of sustainable progress. By safeguarding juniper woodlands, Saudi Arabia is not only protecting its natural heritage — but also restoring life to its greenest, most storied mountains.
Arab News
15-05-2025
- Science
- Arab News
RCU, Arabian Leopard Fund partner with Smithsonian to protect Arabian leopard
ALULA: The Royal Commission for AlUla (RCU) and the Arabian Leopard Fund have partnered with the Smithsonian Institution to support international efforts to protect the Arabian leopard, the Saudi Press Agency reported Thursday. Under the agreement, RCU will lend of a pair of Arabian leopards to Smithsonian's National Zoo and Conservation Biology Institute as part of a scientific program designed to enhance conservation efforts, promote genetic diversity, and raise global awareness about this rare species. The Arabian leopard (Panthera pardus nimr) is considered one of the world's most endangered big cats, with approximately only 120 left in the wild, including about 20 that are confined mostly to the Kingdom's isolated southwestern mountains of Asir and the Hijaz. At the RCU wildlife conservation facility in AlUla, there were 27 Arabian leopards as of last year, a senior official of the commission was quoted by a special Arab News report as saying In partnering with Smithsonian, the RCU aims to bolster its Arabian leopard breeding program and significantly "enhance the chances of survival for the critically endangered species and establishing a population outside its native habitat." The collaboration is also hoped to drive advanced scientific research on the endangered animal and facilitate the creation of the first exhibit of its kind for these big cats in the United States and "stimulate community support for conservation programs."
