Latest news with #SaudiVision2030
Arab News
16 hours ago
- General
- Arab News
Maldives president hails Makkah Route Initiative as symbol of Saudi Arabia's leadership
RIYADH: President Mohamed Muizzu of the Maldives has hailed Saudi Arabia's Makkah Route Initiative as a symbol of the Kingdom's service to Islam and Muslims. 'Their leadership of the Islamic world represents an exemplary model of giving, unity, and service, not only at the two holy mosques but throughout the entire Islamic world, confirming the Kingdom's pivotal role in leading with wisdom and mercy in serving Islam,' he said at the launch of the initiative in his country recently. Muizzu added: 'For the first time, Maldivian pilgrims will benefit from this pioneering initiative, designed by Saudi Arabia under its wise leadership and generously provided within the Custodian of the Two Holy Mosques Guests Program emerging from Saudi Vision 2030,' he explained. The initiative enables the completion of all passport, customs and health screening procedures from the departure point — Velana International Airport. Muizzu thanked Saudi Arabia's ministries of interior, Hajj and Umrah, as well as other organizations for their assistance. 'We renew our great gratitude and appreciation for the leadership and people of Saudi Arabia, and look forward to enhancing cooperation and joint work under the leadership of the Custodian of the Two Holy Mosques and his crown prince for the good of the entire Islamic nation.' The initiative is now operating in eight countries, which includes Indonesia, Malaysia, Pakistan, Bangladesh, Turkiye, Morocco and the Ivory Coast.
Leaders
19 hours ago
- Leaders
Lt. Gen. Al-Yahya: Makkah Road Launch in Maldives Highlights Strong Ties in Pilgrim Services
Lieutenant General Suleiman bin Abdulaziz Al-Yahya, Chairman of the Supervisory Committee of the Makkah Road Initiative, stated that the launch of the initiative in the Republic of Maldives is a result of the close and constructive cooperation between Saudi Arabia and the Maldives. He emphasized that it reflects the deep fraternal ties and longstanding partnership between the two nations. Lieutenant General Al-Yahya highlighted that the Makkah Road Initiative embodies the goals of Saudi Vision 2030, under the leadership of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. The initiative demonstrates their unwavering commitment to serving Islam and Muslims, particularly by easing the pilgrimage experience from the moment pilgrims depart their home countries until they complete their Hajj journey and return. He further explained that the implementation of the initiative in the Maldives will allow eligible travelers to complete a range of travel procedures electronically in advance. This streamlined process will save time and effort at the departure point and ensure a smoother arrival in Saudi Arabia. Related Topics: Saudi Arabia launches Makkah Road initiative to serve pilgrims Hajj Guide: What to Do before Arriving in Makkah? All You Need to Know about Hajj Rituals: A Step-by-Step Guide Discover Top Hotels Near Masjid Al-Haram for Hajj 2025 Short link : Post Views: 7 Related Stories
Argaam
20 hours ago
- Business
- Argaam
Hong Kong aims to deepen partnership with Saudi Arabia: Minister
Hong Kong finance chief Paul Chan said the city seeks to strengthen its partnerships with the Middle East, especially Saudi Arabia. During his participation in the Capital Markets Forum, attended by Argaam, Chan referred to growing cooperation with Riyadh, Abu Dhabi, and Dubai in the fields of dual listings and the development of Shariah-compliant financial products. He highlighted ongoing efforts to connect Middle Eastern companies with global financing opportunities through the Stock Exchange of Hong Kong, adding that the city aims to support Saudi Arabia's Vision 2030 through partnerships in infrastructure, professional services, and Islamic finance. Hong Kong's financial markets raised nearly HKD 76 billion ($9.7 billion) through initial public offerings year to date, representing nearly 90% of the total funds raised in 2024. Chan also indicated that the launch of the first Exchange-Traded Fund (ETF) for government sukuk is a major milestone in this direction, stressing that Hong Kong can become a global hub for Islamic finance, thanks to a flexible regulatory environment and advanced financial services. Hong Kong continues to rely on openness and competitiveness in global supply chains, Chan said. He confirmed that the linked exchange rate system between the Hong Kong dollar and the US dollar will remain unchanged, noting that the city provided stability and confidence for more than four decades, with no intention to change it despite international economic challenges.
Yahoo
20 hours ago
- Business
- Yahoo
Saudi Arabia Electronic Games Markets, Competition, Forecast & Opportunities, 2030 - Explosive Growth in Mobile Gaming Sector, Smartphones Dominate with 60% Revenue Share
Key opportunities in the Saudi Arabia electronic games market include exploiting the surge in mobile gaming, driven by high smartphone and internet penetration. The growing popularity of eSports and online multiplayer games offers potential, especially in urban centers like Riyadh, supported by government initiatives under Vision 2030. Saudi Arabian Electronic Games Market Dublin, May 30, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Electronic Games Market, By Region, Competition, Forecast & Opportunities, 2020-2030F" has been added to offering. The Saudi Arabia Electronic Games Market was valued at USD 4.59 Billion in 2024, and is expected to reach USD 11.06 Billion by 2030, rising at a CAGR of 15.80% The Saudi Arabia electronic games market has witnessed significant growth from 2020 to 2030, driven by increasing internet penetration, a young and tech-savvy population, and rising disposable incomes. The market is segmented by platform, player type, distribution channel, and region. Platforms include smartphones, tablets, laptops, console games, and portable gaming devices, with smartphones dominating due to their widespread accessibility and affordability. Console games are also gaining traction, supported by the popularity of high-quality gaming experiences. By player type, the market is divided into single-player and multi-player games, with multi-player games experiencing rapid growth due to the rise of online gaming communities and competitive eSports. Distribution channels are categorized into online and offline, with online platforms, including app stores and digital downloads, leading the market due to convenience and a wide variety of options. Offline channels, such as retail stores, remain relevant for physical game purchases and consoles. Regionally, urban centers like Riyadh and Jeddah are the primary hubs for gaming activity, driven by higher disposable incomes and better infrastructure. Key growth factors include government initiatives to promote the gaming industry, such as the Saudi Vision 2030, which aims to diversify the economy and foster innovation in the entertainment sector. Additionally, the increasing popularity of eSports and gaming tournaments is further propelling market growth. Key Market Drivers Saudi Arabia has been undergoing a massive digital transformation as part of its Vision 2030 initiative, which aims to diversify the economy and reduce dependence on oil. This transformation has led to a surge in internet penetration and smartphone adoption across the country. With over 90% of the population having access to the internet and a high smartphone ownership rate, the demand for mobile gaming has skyrocketed. Smartphones and tablets have become the most accessible platforms for gaming, especially among the younger population. Internet penetration in Saudi Arabia is 98%, with smartphone penetration at 95%. Mobile gaming accounts for 60% of the total gaming revenue in the region. Additionally, the rollout of 5G technology has further enhanced the gaming experience by enabling faster download speeds and seamless online multiplayer gaming. This digital shift has created a fertile ground for the growth of the electronic games market, making it one of the most significant drivers. Key Market Challenges Saudi Arabia's conservative cultural and regulatory environment poses a challenge to the electronic games market. While the government has been actively working to diversify the economy and promote the entertainment sector, certain cultural sensitivities and regulatory restrictions still exist. For instance, games with content deemed inappropriate or inconsistent with local values may face bans or require significant modifications. This limits the variety of games available to consumers and could deter international game developers from entering the market. Additionally, the lack of a clear regulatory framework for online gaming and digital content distribution can create uncertainty for businesses, impacting investment and innovation in the sector. Key Market Trends Esports has emerged as a major trend in Saudi Arabia, transforming gaming from a casual hobby into a professional and competitive industry. The Saudi government has been actively promoting esports as part of its Vision 2030 initiative to diversify the economy and create new entertainment opportunities. The establishment of the Saudi Esports Federation and the hosting of international tournaments, such as Gamers8, have positioned the country as a regional hub for competitive gaming. Esports has also gained significant traction among the youth, with many aspiring to become professional gamers or content creators. This trend has led to increased investments in gaming infrastructure, including esports arenas, training facilities, and sponsorship deals, further boosting the market. Report Scope Key Market Players Sony Corporation Microsoft Corporation Apple Inc. Google LLC (Alphabet Inc.) Electronic Arts Inc. NetEase Inc. Ltd. Tencent Holdings Ltd. Ubisoft entertainment Square Enix Co. Ltd. Blizzard Entertainment Inc. Saudi Arabia Electronic Games Market, By Platform: Smartphones Tablets Laptops Console Games Portable Gaming Devices Saudi Arabia Electronic Games Market, By Player: Single player Multi-player Saudi Arabia Electronic Games Market, By Distribution Channel: Online Offline Saudi Arabia Electronic Games Market, By Region: Western Northern & Central Eastern Southern Key Attributes: Report Attribute Details No. of Pages 82 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $4.59 Billion Forecasted Market Value (USD) by 2030 $11.06 Billion Compound Annual Growth Rate 15.8% Regions Covered Saudi Arabia For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Saudi Arabian Electronic Games Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Saudi Gazette
a day ago
- Business
- Saudi Gazette
Saudi Arabia showcases investment prospects at ASEAN, GCC and China Economic Forum
Saudi Gazette report KUALA LUMPUR — The Saudi Ministry of Investment showcased its vast investment opportunities during its participation in the Economic Forum of ASEAN, the Gulf Cooperation Council (GCC), and China. A delegation from the Saudi public and private sectors took part in the forum, which was held alongside the ASEAN–GCC Summit and the ASEAN–GCC–China Summit, hosted by the Malaysian capital Kuala Lumpur from May 27 to 29. The participation is part of the ministry's ongoing efforts to maintain a strong presence at major international events to showcase the Kingdom's investment environment and its developments across various economic sectors. It also aimed to highlight Saudi Arabia's investment opportunities and strategic initiatives under the Saudi Vision 2030. On the forum's first day, the ministry organized a special session titled "Enhancing ASEAN-GCC-China Investments" as part of its efforts to develop the investment climate and build strategic partnerships. Saudi Deputy Minister of Investment for International Relations Sara Al-Sayed addressed the session. The ministry presented several initiatives during the session.
