Episode 32! The hosts welcome defense and security expert Bilal Saab to discuss the little-known but historically significant transformations underway in Saudi Arabia’s military and security institutions. The hosts also talk about the personal status law that will make a major real-life change for women and families in the Kingdom, a potential Foxconn plant at NEOM, and much more in the program’s ‘Yallah!’ segment.
0:57 – A new personal status law in Saudi Arabia is set to be a game-changer for Saudi women, in addition to having significant real-life impact for everyone in Saudi Arabia. The personal status law is one of the four laws announced by the Crown Prince Mohammed bin Salman bin Abdulaziz in February, which is designed to enhance the efficiency and integrity of the kingdom’s judicial system – a move that will eventually lead to a fully codified law. The crown prince noted that the personal status draft was drawn from the provisions of Islamic Shariah, and took into account the latest legal trends and modern international judicial practices, keeping abreast of developments and changes.
7:46 – Foxconn might build a $9 billion plant in Saudi Arabia, and that could be a big deal. Foxconn, the world’s largest contract assembler of consumer electronics, is in talks with Saudi officials about the prospect of opening a $9 billion factory in NEOM, according to a report in the Wall Street Journal. The company is looking at jointly building a $9 billion multipurpose facility that could make microchips, electric-vehicle components and other electronics like displays.
18:26 – One of the biggest transformations in Saudi Arabia has very little to do with Vision 2030: Saudi Arabia’s military is undergoing a massive overhaul…the largest since the founding of the Kingdom. We talk with author, researcher and professor Bilal Saab about the major modernizations and thorough reconstruction of the security apparatus in the Kingdom. Bilal talks about his recent piece for the MEI.edu, A Gradual Reset with Saudi Arabia, as well as his forthcoming book, Rebuilding Arab Defense, available in May.
1:14:57 – Yallah!
•Aramco, ACWA Power, Saudi Arabian Airlines, Ma’aden and ENOWA (a water and energy firm) signed non-binding MOUs to become the first members of Middle East and North Africa regional Voluntary Carbon Market, which the Public Investment Fund launched last year in cooperation with the Saudi stock exchange. PIF said further partners on both the demand and supply side will be on boarded in the coming months, ahead of an introductory round of auctions in fourth quarter of 2022. [Bloomberg]
•Saudi Arabia plans to introduce 60 water projects worth 35 billion Saudi riyals ($9.33bn) as the kingdom accelerates efforts to become the world’s largest desalination market. Once completed, the projects will nearly triple Saudi Arabia’s desalination capacity to 7.5 million cubic meters of water a day by 2027, from 2.54 cubic metres per day in 2021. [The National]
•The Saudi Super League will begin in June, and attention is now turning to the venues selected for its debut season. The challenger to the PGA tour that has caused controversy for months will begin without the major defection that league CEO Greg Norman had hoped would occur. The eight-tournament series runs from 9 June to 30 October and will comprise seven regular season events and a Team Championship grand finale Match Play. [CNN]
•Saudi Arabia’s state oil company Aramco pledged to hike investments by around 50% this year as it reported a doubling in 2021 profits. Aramco benefitted from a more than 50% surge in oil prices last year, as increased COVID-19 vaccination rates and loosening restrictions resulted in demand outpacing supply. [Nasdaq]
•Saudi Arabia’s Ministry of Investment and the Jada Fund of Funds have teamed up to create a platform that will connect Saudi entrepreneurs with investors abroad, according to a report in the National. Catalyse Saudi will host a series of events, the first of which will take place this month in Jeddah and Riyadh under the theme of disruptive technology. [The National]
•Saudi Arabia is planning to raise its port occupancy rate to 70 percent by 2030, CNBC reported citing the head of the Saudi Ports Authority. This comes as the transshipment rate at the Saudi ports grew by more than 35 percent in 2021, Omar bin Talal Hariri disclosed.