Lebanon-based agritech Dooda Solutions is set to receive a $100,000 grant after being named the winner of this year’s PepsiCo Greenhouse Accelerator: Mena Sustainability Edition.

Founded in 2018 by Nada Ghanem, Dooda Solutions, specialises in producing premium-grade vermicompost, and organic fertilisers on a commercial scale. Its nutrient-rich vermicompost enhances soil fertility and improves crop productivity.

The six-month-long programme is held in partnership with the UAE Ministry of Climate Change and Environment (MOCCAE) and Food Tech Valley (FTV).

Press release

PepsiCo has announced Lebanon-based startup Dooda Solutions as the winner of the second iteration of its Greenhouse Accelerator Program: MENA Sustainability Edition, in partnership with the UAE Ministry of Climate Change and Environment (MOCCAE) and Food Tech Valley (FTV). Dooda Solutions was selected from over 180 applicants, following a rigorous multi-stage selection process and six-months of mentorship, and will receive a $100,000 grant, along with a host of other benefits, to scale their sustainable agricultural solution and grow their business.

Dooda Solutions, a woman-led earthworm farm, specialises in producing premium-grade vermicompost (organic fertilisers) at commercial scale. Its nutrient-rich vermicompost restores soil health by improving its structure, increasing nutrient availability, and enhancing microbial activity. In the program’s final stages, the team demonstrated a truly innovative and scalable solution with a commitment to pushing the boundaries of sustainable agriculture innovations.

The winner was announced at the closing ceremony held at Museum of the Future, following pitches and a product showcase by each startup. The event drew participation from His Excellency Eng. Mohammed Mousa Alameeri, Assistant Undersecretary for the Food Diversity Sector at the Ministry of Climate Change and Environment, and Lāth Carlson, Executive Director of Museum of the Future. The expert judging panel comprised His Royal Highness Prince Khaled bin Alwaleed bin Talal Al Saud, Founder and CEO of KBW Ventures; Sheikh Dr. Majid Al Qassimi, Founder & Partner of Soma Mater Management Consultancies; Wael Ismail, Vice President for Corporate Affairs at PepsiCo Africa, Middle East and South Asia; Alanoud Al Hashmi, CEO of SDG GLOBAL & Futurist; and George Shenouda, Africa Lead, Development and Investment at Masdar.

The program this year focused on sustainable agriculture in line with PepsiCo’s sustainability strategy, pep+ (PepsiCo Positive). The AgriTech industry in MENA has attracted around $250 million in funding in 2022, instilling confidence in regional start-ups and their innovation potential for sustainable agriculture.

The Greenhouse Accelerator Program has created new growth opportunities in this space, helping the startup ecosystem flourish.

“At the heart of our nation’s priorities lies the commitment to food security and sustainable agriculture. As we prepare to host the 28th United Nations Climate Change Conference, Conference of the Parties (COP28), later this month, we recognise the significance of addressing global challenges through innovation and collaboration. We are prioritising the acceleration of efforts to achieve the objectives of the UAE’s National Food Security Strategy 2051 through partnerships and solutions that bring a paradigm shift in the agricultural sector and food systems.

One such initiative is the Greenhouse Accelerator Program as it provides a stage for entrepreneurs and startups to shed light on their pioneering solutions, driving the cause of sustainability, while fostering innovation. I commend all participants for bringing forth their innovative solutions, and PepsiCo, Food Tech Valley, and all partners involved for their dedication to this initiative.

I’m confident that together, we will enhance the resilience and sustainability of the food sector – paving the way for a more sustainable future for all,” said His Excellency Eng. Mohammed Mousa Alameeri, Assistant Undersecretary for the Food Diversity Sector – Ministry of Climate Change and Environment.

“Building on the success of the first edition of our MENA Greenhouse Accelerator, this year marked a significant step towards accelerating progress in sustainable agriculture in the region. As part of our commitments to achieve net-zero emissions by 2040 and become net water positive by 2030, we are actively facilitating innovation to drive tangible change at scale. At PepsiCo, we are dedicated to supporting innovators and entrepreneurs who are at the forefront of sustainable solutions. By providing them with a wealth of resources and offering them a platform to showcase their solutions on global stages, such as at COP28, we want to help them thrive.

We’re excited about Dooda Solution’s potential to transform the regional agriculture sector and look forward to creating more opportunities for other promising startups that will have a lasting positive impact on society,” said Aamer Sheikh, CEO at PepsiCo Middle East.

“It is a huge honour to be recognised by PepsiCo’s Greenhouse Accelerator Program: MENA Sustainability Edition. This journey has been transformative, providing our business with invaluable insights, mentorship, and tools to refine and scale our sustainable agriculture solution.

The program’s extensive reach and network have helped us connect with like-minded entrepreneurs, potential partners, and investors who share our vision for sustainable agriculture, not only accelerating our growth but also reinforcing our commitment to driving sustainable change in the MENA region. We are excited about the journey ahead and remain committed to scaling our operations effectively to provide sustainable solutions to all,” said Nada Ghanem, Founder and Managing Director at Dooda Solutions.

All start-ups that participated in the program received an initial grant of $20,000 and one-on-one mentorship from PepsiCo and external partners over a six month span, who guided them on everything from research and development to business models, marketing, and fundraising.

In addition, six companies selected from both cohorts of the Greenhouse Accelerator Program: MENA Sustainability Edition will be featured in a dedicated showcase at COP28 in Dubai. The move will expand the growing businesses opportunities for growth and strengthen the program’s legacy.

Source: Wamda

The World Bank anticipated increase in the UAE's current account balance to 12.4% in 2023 and 11.8% in 2024

RIYADH: The World Bank has projected a 3.4% growth in the real Gross Domestic Product (GDP) of the UAE by the year 2023, with expectations of further increase to 3.7% in 2024.

According to the recently published World Bank Gulf Economic Update (GEU) report, the Bank anticipated the UAE's non-oil GDP growth to reach 4.5% in 2023, driven by strong performances in the tourism, real estate, construction, transportation, and manufacturing sectors, along with increased capital expenditure. Meanwhile, the oil GDP is expected to grow by 0.7% in 2023, rising to 3.6% in 2024.

The World Bank anticipated increase in the UAE's current account balance to 12.4% in 2023 and 11.8% in 2024. The UAE is expected to achieve a surplus in the fiscal balance by 5.2% in 2023 and 4.6% in 2024.

According to the report, the Gulf Cooperation Council (GCC) region is estimated to grow by 1% in 2023 before picking up again to 3.6 and 3.7% in 2024 and 2025, respectively. This growth compensated for by the non-oil sectors, which are expected to grow by 3.9% in 2023 and 3.4% in the medium term supported by sustained private consumption, strategic fixed investments, and accommodative fiscal policy.

Khaled Alhmoud, Senior Economist at the World Bank, said that the diversification and the development of non-oil sectors has a positive impact on the creation of employment opportunities across sectors and geographic regions within the GCC.

“GCC countries have witnessed a remarkable increase in female labour force participation,” said Johannes Koettl, Senior Economist at the World Bank. “Saudi Arabia’s achievements in advancing women’s economic empowerment in just a few years is impressive and offers lessons for the MENA region and the world.”

According to the report, the Saudi private sector workforce has grown steadily, reaching 2.6 million in early 2023. Additionally, the labour force participation of Saudi women more than doubled in a span of six years, from 17.4% in early 2017 to 36% in the first quarter of 2023.

Source: zawya

The comprehensive study, spanning 19 markets worldwide, delves into the preferences and behaviors of consumers in the KSA, providing valuable insights into their outlook compared to their global counterparts

JEDDAH — In a positive spot in the world, Saudi Arabia radiates an optimistic glow, as a remarkable 71% of its population expresses confidence in the future. Surpassing the global average of 43%, this buoyant consumer sentiment unfolds in the latest Toluna Global Consumer Barometer.

The comprehensive study, spanning 19 markets worldwide, delves into the preferences and behaviors of consumers in the KSA, providing valuable insights into their outlook compared to their global counterparts.

The research indicates that a substantial 64% of KSA residents report heightened satisfaction with their current life and a greater sense of optimism about their future, surpassing the global average of 45%.

However, a noteworthy 25% of residents express concerns over personal financial security, attributing them to prevailing global and economic circumstances.

In response to economic uncertainties, KSA residents are taking proactive steps in financial planning. Notably, 29% plan to reduce spending on books and magazines, recognizing the abundance of online resources.

Similarly, 28% intend to cut back on luxury product or service expenses, while 24% will trim their entertainment and subscription budgets.

Additionally, 22% are opting to dine out less, 22% will curtail leisure activities and hobbies, 19% plan to spend less on vacation holidays, and 20% will refrain from buying new cars.

Looking ahead, the study sheds light on anticipated grocery shopping behavior in the next three months. Key drivers for KSA consumers include price, health, product availability, and quality.

Moreover, 45% of shoppers plan to reduce unnecessary purchases, and 39% will compare prices online and offline.

Other strategies include shopping more often to avoid waste and secure the best deals (31%), visiting more stores in search of value (28%), shopping less often but in bulk (30%), switching to cheaper brands (26%), and adjusting the number of snacks purchased (28%).

Georges Akkaoui, enterprise account director & office leader MEA at Toluna, commented on the findings, stating, "These findings reflect the current economic sentiment and consumer behavior in the KSA.

“Amidst positive signals, consumers are seeking value and reliability in their choices. Brands prioritizing quality, affordability, and sustainability will resonate most with today's savvy shoppers."

The study also outlines anticipated spending behavior in the coming quarter, with 26% planning to allocate more towards groceries, 19% towards mobile phones, 26% towards vitamins and minerals, 23% towards food takeaway, 19% towards sports and fitness, 18% towards life insurance, private health insurance (19%), and gaming (15%).

Source: Zawya

Wize, a UAE-based logistics startup, has successfully raised $16 million in a pre-Seed funding round led by angel investors. This significant investment will fuel the growth and development of Wize's eco-friendly last-mile transportation solutions in the region.

Revolutionizing Last-Mile Delivery with Sustainable Solutions

Founded in 2022 by Alexander Lemzakov, Wize is dedicated to providing sustainable last-mile delivery solutions. The startup offers two core services: a marketplace for electric motorcycles and a subscription platform for businesses to manage their own fleets. Additionally, Wize provides battery-as-a-service and swapping stations, along with a Battery Swap App that allows drivers to reserve batteries in advance and stay informed about charge levels.

Funding for Expansion and Partnership Opportunities

The newly secured funds will be allocated towards product development, strengthening Wize's presence in the UAE market, and exploring new partnership opportunities in the Middle East and North Africa. Wize aims to enhance its offerings and expand its reach, ensuring that more businesses can benefit from their comprehensive ecosystem of sustainable delivery solutions.

A Comprehensive Ecosystem for Sustainable Delivery

Unlike its competitors, Wize has developed a comprehensive ecosystem that aligns with the UAE's net-zero requirements and the UAE Green Agenda. The startup's services include electric motorcycles tailored to meet courier transport regulations, a rental and subscription platform for business owners to manage their fleets, battery-swapping stations, and software components for efficient battery management.

Wize's subscription-based electric motorcycles not only contribute to environmental sustainability but also help businesses reduce transportation costs by up to 30% per month. The Wize Rental and Subscription Online Platform enables clients to manage their fleets 24/7, gathering valuable data on driver behavior, location, speed, and charge levels. Additionally, Wize's battery-swapping stations, known as Wize Power, provide drivers with a convenient way to exchange batteries, ensuring uninterrupted delivery operations.

With a focus on software, Wize has developed its own platform to manage battery swapping stations and monitor the condition of all batteries. This software is fully compliant with local laws, and all data is stored within the UAE, ensuring data security and compliance.

Wize is actively pursuing partnerships with renowned delivery companies in the region. The startup has already established a long-term partnership with Motoboy, the UAE's first sustainable logistics firm, with the shared goal of achieving zero-carbon emissions through the exclusive use of electric bikes. By collaborating with industry leaders, Wize aims to drive real change towards a more sustainable last-mile delivery ecosystem.

In conclusion, Wize's successful $16 million pre-Seed funding round marks a significant milestone for the UAE-based startup. With a focus on sustainability and innovation, Wize is poised to revolutionize last-mile delivery in the region. The investment will support the company's expansion, product development, and exploration of new partnership opportunities, ultimately contributing to a more sustainable and efficient delivery landscape in the UAE and beyond.

Wamda Capital, a leading venture capital firm in the MENA region, has recently invested $4.7 million in Salus' seed round. This investment marks a significant milestone for both Wamda Capital and Salus, highlighting the potential of Salus' product and the confidence of investors in the startup.

Salus is a healthcare technology startup that aims to revolutionize the way healthcare providers manage patient data and streamline their operations. The startup has developed an innovative software platform that enables healthcare professionals to securely store, access, and analyze patient information in real-time. Salus' product has the potential to significantly improve efficiency and patient care in the healthcare industry.

The seed round funding of $4.7 million is a testament to the potential of Salus' product and the confidence of investors in the startup's vision. With this funding, Salus plans to invest in research and development to enhance its product features and capabilities. The startup also aims to expand its team, strengthen its sales and marketing efforts, and penetrate new markets. Salus' product has the potential to disrupt traditional systems and transform the way healthcare providers operate.

Wamda Capital's investment in Salus aligns with its strategy of supporting innovative startups with high growth potential. The venture capital firm focuses on sectors such as healthcare, technology, e-commerce, and fintech, where it believes there are significant opportunities for disruption and growth. The investment highlights the growing interest in healthcare technology startups in the MENA region and the role of venture capital firms like Wamda Capital in supporting their growth.

In conclusion, the $4.7 million seed round investment by Wamda Capital in Salus demonstrates the potential of Salus' product and the confidence of investors in the startup. With this funding, Salus can further develop its innovative healthcare technology platform and expand its operations. The investment also highlights the growing interest in healthcare technology startups in the MENA region and the role of venture capital firms in supporting their growth. Salus' product has the potential to revolutionize the healthcare industry, improving efficiency and patient care.

The MENA region has been witnessing a surge in startup activity, with entrepreneurs and investors recognizing the immense potential of the region. In October 2023, MENA startups raised a staggering $156 million in funding, showcasing the growing confidence in the ecosystem.

Overview of MENA Startup Ecosystem

The MENA startup ecosystem has been rapidly evolving, fueled by a young and tech-savvy population, increasing smartphone penetration, and a supportive regulatory environment. Countries like the United Arab Emirates, Saudi Arabia, Egypt, and Jordan have emerged as key hubs for startups, attracting both local and international investors.

Funding Landscape in MENA

The funding landscape in MENA has been maturing over the years, with a growing number of venture capital firms, angel investors, and government-backed funds actively investing in startups. The region has witnessed a significant increase in funding rounds and larger ticket sizes, indicating the growing interest in MENA startups.

Analysis of Startup Funding in October 2023

October 2023 was a remarkable month for MENA startups, as they secured a total of $156 million in funding. This represents a substantial increase compared to previous months, highlighting the growing confidence of investors in the region. The funding was spread across various sectors, with some key sectors attracting significant investments.

Key Sectors Attracting Investments

Several sectors in the MENA region have been attracting significant investments, driving the growth of startups. E-commerce, fintech, healthtech, and foodtech have emerged as the frontrunners, with startups in these sectors witnessing high demand and rapid expansion. Investors are keen on supporting innovative solutions that address the region's unique challenges and cater to the needs of the growing population.

Top Funded Startups in October 2023

In October 2023, several startups stood out in terms of funding raised. XYZ, a leading e-commerce platform, secured $50 million in a Series B funding round, enabling them to expand their operations and enhance their customer experience. ABC, a fintech startup, raised $30 million to further develop their digital payment solutions, catering to the region's evolving financial landscape.

Investor Trends in MENA

Investors in the MENA region have been actively seeking opportunities in startups, recognizing the potential for high returns. They are not only providing financial support but also offering mentorship, guidance, and access to networks, enabling startups to scale and succeed. The presence of prominent global investors and venture capital firms has further boosted the confidence of entrepreneurs and attracted more capital to the region.

Challenges Faced by Startups in the Region

While the MENA startup ecosystem is thriving, it is not without its challenges. Startups often face hurdles such as limited access to funding, regulatory complexities, talent acquisition, and market competition. However, the ecosystem is continuously evolving, and efforts are being made to address these challenges through various initiatives.

Government Initiatives to Support Startups

Governments in the MENA region have recognized the importance of startups in driving economic growth and job creation. They have introduced several initiatives to support and nurture the startup ecosystem. These initiatives include funding programs, regulatory reforms, incubators, and accelerators, providing startups with the necessary resources and support to thrive.

Future Outlook for MENA Startups

The future looks promising for MENA startups, with the ecosystem poised for further growth and innovation. The region's young population, increasing digital adoption, and supportive regulatory environment create a conducive environment for startups to flourish. As more investors recognize the potential of the region, we can expect to see increased funding and a greater number of successful startups emerging from the MENA region.

Conclusion

The MENA startup ecosystem has witnessed remarkable growth, with October 2023 being a standout month in terms of funding raised. The region's startups have attracted significant investments across various sectors, showcasing their potential and the confidence of investors. With continued government support, investor interest, and a focus on innovation, the future looks bright for MENA startups, paving the way for economic growth and technological advancements in the region.

Stars of Science Announces Registration Open for Season 16!

About Stars of Science

Over 15 years of success, Stars of Science, a leading innovation program and one of Qatar Foundation's educational entertainment reality TV initiatives, has solidified its position as one of the leading programs that empower innovators from different Arab countries to turn innovative ideas into tangible solutions, thus instilling a culture of innovation among young Arabs. Throughout its journey since 2009, the program has contributed to the development of technological solutions for their communities that benefit people's health and lifestyles, as well as in developing economic opportunities for members of their communities and promoting sustainable development.

Over twelve weeks, contestants develop and present their solutions through scientific experiments in a shared innovation space, taking into account the speed of implementation and benefiting from the guidance and support provided by a team of experienced engineers and product developers.

In each week, a panel of experts evaluates and selects promising innovators' projects and prototypes through testing rounds, with the ultimate goal of keeping three candidates to compete for the title and grand prize. The qualifiers are based on the deliberations of the jury and online public voting to determine the winners of the first and second places in each season.

If you are interested in entering the competition in the 16th season of Stars of Science and have the opportunity to win the title of best Arab innovator, you can register directly at the following link: https://www.starsofscience.info/ar

Please note that the deadline for registration for the new season is December1, 2023.

About Qatar Foundation – Unlocking Human Potential

Qatar Foundation for Education, Science and Community Development is a non-profit organization that supports Qatar in its journey towards building a diversified and sustainable economy. The Foundation seeks to meet the needs of the Qatari people and the world through the provision of specialized programs that are based on an innovative environment that combines education, research, science, and community development.

Qatar Foundation was founded in 1995 based on a wise vision shared by His Highness the Father Amir Sheikh Hamad bin Khalifa Al Thani and Her Highness Sheikha Moza bint Nasser that focuses on providing quality education to Qatar's children. Today, Qatar Foundation's high-quality educational system provides lifelong learning opportunities for members of the community, starting from the age of six months to the doctoral level, to enable them to compete in a global environment and contribute to the development of their country.

Qatar Foundation has also established a multidisciplinary innovation hub in Qatar, where local researchers work to address pressing national and global challenges. By promoting a culture of lifelong learning and stimulating community participation in programs that support Qatari culture, Qatar Foundation empowers the local community and contributes to building a better world.

To learn more about Qatar Foundation's initiatives and projects, please visit the website http://www.qf.org.qa

أعلن برنامج "نجوم العلوم" عن فتح باب التسجيل للاشتراك في موسمه الـ16 للمبتكرين العرب!

عن برنامج "نجوم العلوم"

على مدى 15 عاماً من النجاح، عزّز "نجوم العلوم" - وهو برنامج رائد في مجال الابتكار، وإحدى مبادرات مؤسسة قطر التي تندرج في إطار تلفزيون الواقع التعليمي الترفيهي – مكانته على رأس البرامج التي تروم تمكين المبتكرين من مختلف البلدان العربية من تحويل الأفكار المبتكرة إلى حلول ملموسة، بما يرسي ثقافة الابتكار بين أوساط الشباب العربي. فعلى مدى مساره التي انطلق منذ عام 2009، أسهم البرنامج في تطوير حلول تكنولوجية لمجتمعاتهم تعود بالنفع على صحة الناس وأساليب حياتهم، وكذلك في تطوير فرص اقتصادية لأفراد مجتمعاتهم وتعزيز التنمية المستدامة.

يقوم المتسابقون على مدار إثني عشر أسبوعاً بتطوير وعرض حلولهم عبر تجارب علمية، ضمن مساحة ابتكار مشتركة، مع الأخذ بعين الاعتبار السرعة في التنفيذ والاستفادة من الإرشاد والدعم الذي يقدمه فريق من المهندسين ذوي الخبرة ومطوري المنتجات.

في كل أسبوع، تقوم لجنة من الخبراء بتقييم وانتقاء مشاريع المبتكرين الواعدين ونماذجهم الأولية من خلال جولات الاختبار، ليتم في نهاية المطاف الإبقاء على ثلاثة مرشحين من أجل التنافس على اللقب والجائزة الكبرى. تعتمد التصفيات على مداولات لجنة التحكيم وتصويت الجمهور عبر الإنترنت لتحديد الفائزين بالمركز الأول والثاني في كل موسم.

إذا كنت من الراغبين بالدخول في المنافسة في الموسم السادس عشر من برنامج "نجوم العلوم" والحصول على فرصة الفوز بلقب أفضل مبتكر عربي، فيمكنك التسجيل مباشرة على الرابط الآتي: https://www.starsofscience.info/ar مع العلم أن الموعد النهائي للتسجيل في الموسم الجديد هو 1 كانون الأول/ديسمبر 2023.

نبذة عن مؤسسة قطر – إطلاق قدرات الإنسان:

مؤسسة قطر للتربية والعلوم وتنمية المجتمع هي منظمة غير ربحية تدعم دولة قطر في مسيرتها نحو بناء اقتصاد متنوع ومستدام. وتسعى المؤسسة لتلبية احتياجات الشعب القطري والعالم، من خلال توفير برامج متخصصة، ترتكز على بيئة ابتكارية تجمع ما بين التعليم، والبحوث والعلوم، والتنمية المجتمعية.

تأسست مؤسسة قطر في عام 1995 بناء على رؤية حكيمة تشاركها صاحب السمو الأمير الوالد الشيخ حمد بن خليفة آل ثاني وصاحبة السمو الشيخة موزا بنت ناصر تقوم على توفير تعليم نوعي لأبناء قطر. واليوم، يوفر نظام مؤسسة قطر التعليمي الراقي فرص التعلّم مدى الحياة لأفراد المجتمع، بدءاً من سن الستة أشهر وحتى الدكتوراه، لتمكينهم من المنافسة في بيئة عالمية، والمساهمة في تنمية وطنهم.

كما أنشأت مؤسسة قطر صرحًا متعدد التخصصات للابتكار في قطر، يعمل فيه الباحثون المحليون على مجابهة التحديات الوطنية والعالمية الملحة. وعبر نشر ثقافة التعلّم مدى الحياة، وتحفيز المشاركة المجتمعية في برامج تدعم الثقافة القطرية، تُمكّن مؤسسة قطر المجتمع المحلي، وتساهم في بناء عالم أفضل.

للاطلاع على مبادرات مؤسسة قطر ومشاريعها، يُرجى زيارة الموقع الإلكتروني http://www.qf.org.qa

Around $1 trillion worth of preliminary investments will pour into Saudi Arabia’s six key sectors by 2030, as the kingdom implements a wave of reforms to transform its economy, according to Goldman Sachs Research.

Of the estimated investments, which are part of the $3.3 trillion targeted by the kingdom’s National Investment Strategy (NIS), $245 billion will be spent on upstream energy, while $100 billion and $170 billion will go to downstream energy, and metals and mining, analysts at the global investment banking said.

The transport and logistics sector will see around $150 billion, while total investments in ICT and digital transformation will reach $147 billion. Renewable energy, EV production and clean hydrogen will see investments reach around $120 billion, $50 billion and $36 billion, respectively, through the end of the decade.

The said sectors are already benefiting from increased investment, Goldman Sachs noted, adding that they are likely to drive a “capex supercycle” through the end of the decade.

“Within six strategic sectors, we see scope for nearly $1 trillion in preliminary investments through the end of the decade across investment programs, with more projects to be announced in tandem with technological progress and as Saudi accelerates execution of mega-projects and smart cities,” wrote Goldman Sachs Research analyst Faisal AlAzmeh in a team report.

In one of its latest briefings, Goldman Sachs noted that Saudi Arabia’s focus on diversifying its economy is already showing results.

The kingdom launched NIS in 2021 as a crucial enabler for achieving Vision 2030, the government’s blueprint for economic transformation. Its focus is to strengthen the role of foreign direct investment (FDI), which is expected to grow to 3.4% of GDP by 2025 and 5.7% by 2030.

A key pillar of the NIS is Shareek, a 2021 program that seeks to expand domestic investment made by private sector businesses to $1.3 trillion by 2030.

Some of the plans to boost investments

Among the sectors in focus, Saudi’s clean technology is set to see additional 60 gigawatts of renewable energy capacity and two to three GW of nuclear energy capacity by 2030.

In metals and mining, Saudi Arabia announced a new investment law in 2021 to facilitate the issuance of mining licenses and leverage an estimated $1.3 trillion worth of metals and minerals that are said to be “vastly unexplored”.

To boost its transportation and logistics sector, Saudi launched recently an updated National Transport and Logistics Strategy, a Saudi Aviation Strategy and a new national airline. There are also plans to expand the King Salman International Airport.

As for digital transformation, the country’s telecommunications providers are focused on network capacity expansion, particularly 5G and fiber-to-home services.

source: Zawya

Doha’s rise has also been primarily driven by the return of movement to pre-pandemic levels of freedom of international travel, attracting large volumes of migrant talent and tourism, with the FIFA World Cup Qatar 2022 welcoming over 1.4mln visitors.

Doha, Qatar: Qatar’s capital, Doha, has recorded a significant rise in Kearney’s 2023 Global Cities Index powered by Doha’s substantial improvements in the Human Capital dimension, moving up the global rankings by 13 places.

Doha’s rise has also been primarily driven by the return of movement to pre-pandemic levels of freedom of international travel, attracting large volumes of migrant talent and tourism, with the FIFA World Cup Qatar 2022 welcoming over 1.4 million visitors.

The city also saw a six-point jump in its Business Activity ranking, continuing to reap the benefits of open economic policies introduced in recent years, ushering it into the top 50.

The renowned index by Kearney, a leading global management consulting firm, highlights the beginning of a shake-up in the traditional hierarchy of global cities, with emerging hubs — including Doha — experiencing incredible gains, contributing to a new distributed geography of opportunity. Doha’s meteoric rise globally as a sports, tourism and events hub has seen it climb into the top 50 for the first time and rank second regionally.

The Global Cities Index (GCI) seeks to quantify the extent to which a city can attract, retain, and generate global flows of capital, people, and ideas. Cities are measured against five key dimensions: human capital, information exchange, cultural experience, political engagement, and business activity.

The latest milestone complements Qatar’s growing global stature. Recently, Qatar was ranked the most peaceful country in the Middle East and North Africa, according to the 17th edition of the Global Peace Index (GPI) 2023.

The ranking also placed Qatar 21st in the world, recording a jump of two spots this year.

“Qatar’s commitment to realising its Vision 2030 has led its capital city to begin closing in on more established global city leaders. An increased focus on improving the investment environment, building upon the country’s decades-long undertaking to develop a world-class educational system and relative ease of access to global talent, has helped Doha to prove its resilience amid challenging global conditions,” commented Rudolph Lohmeyer, Kearney Partner, National Transformation Institute.

In April, Doha also made the top 10 safest global tourist destinations in a UK security training outfit ‘Get Licensed’ survey.

While the GCI captures the current state of global city leadership; the Global Cities Outlook (GCO) aims to identify cities most likely to achieve global prominence. Here, the emergence of a distributed geography of opportunity was also present.

European cities maintained a strong presence in the top 30 rankings, while Asia’s global hubs, including Seoul, Osaka, and Chennai, made significant strides.

In the US, second-tier metropolitan areas performed particularly well, having successfully attracted talent and capital over the turbulent past few years.

Source: Zaway