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5 Ways Saudi Arabia Is Maintaining A Stable Economy During the Pandemic

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5 Ways Saudi Arabia Is Maintaining A Stable Economy During the Pandemic

Ever since the outbreak of the virus, the Kingdom has been taking all the necessary and right measures that fascinated us all with the level of keenness to maintain the outbreak as soon as possible.

Saudi Arabia is among the top countries who are acting fast to limit and eventually end the spread of the virus, it has also taken several measures to fight the negative impact that the pandemic is expected to impose on the economy.

Besides offering free treatment for all, the government has also implemented packages that aim at saving the private sector. Here are some of the ways that King Salman is supporting the stabilization of the economy with during this pandemic.

1. King Salman approves a SR 900 million package of additional initiatives for the private sector and electricity bill payments. According to SPA, the royal decree states. 

King Salman announced a 30% discount on the electricity bill of April and May for the industrial, commercial and agricultural sectors. And if needed, there is a possibility for giving out extension, as the budget set for this initiative is SR 900 million. The expected number of accounts to benefit from the discount is around

Moreover, every worker in the Kingdom will receive financial assistance if necessary, even the free workers who’re not enlisted under a company.

2. A SR47 fund to ensure hospitals don’t run out of medical supplies.

An additional fund of SR47 billion has been approved by King Salman and allocated to the Saudi health sector, this generous fund will provide artificial respirators and supplies for laboratory tests. In addition to allowing hospitals of hiring more medical and technical professionals.

3. The Social Development Bank launched a fund to back SMEs in the healthcare sector

The Social Development Bank of Saudi Arabia has launched a ‘healthcare portfolio’ with a SR2 billion fund to support the small and medium enterprises in the healthcare sector.

This new initiative done by SDB will help provide financial solutions by offering tailored funds that meet the specific requirements of each beneficiary. This way, the small and medium enterprises in the healthcare sector will be able to carry on with their service to the public in addition to enhancing their contribution to economic growth and employment.

4. Saudi Arabia to pay 60% of private sector wages

King Salman allocated SR9 billion as a compensation to the citizens whose jobs have been affected  as a repercussion of the pandemic. The amount is an equivalent to $2.4 million!

This decree will be granting these employees 60% of their stable income on a monthly basis. This will happen through social insurance for the time span of three month with SR9,000 per month.

5. The private sector is also giving back to the national COVID-19 fund

The private sector has also shown tremendous effort and generosity in fighting off the virus as many companies and individuals have contributed more than SR1 billion to the Ministry of Health’s COVID19 fund, including SR500 million from the energy sector and $160 million from Saudi banks.

Now is your turn to give back and take part in fighting the virus, by staying safe and staying home!

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Lifestyle

The Kingdom’s Public Prosecution Sets Strict Penalties to Protect Women From Abuse

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In an attempt to protect women of Saudi Arabia from all forms of violence against them, the Kingdom’s Public Prosecution has set a maximum jail term of one year and a SR50,000 fine.

Violence against women comes in different shapes and it’s not just physical, violence includes psychological, sexual abuse and threats of any kind. The perpetrators, those accused of causing violence, will face imprisonment for a period of at least one month and up to one year and a fine of no less than SR5,000 and up to SR50,000.

In case the predator repeat the crime, the penalty will then be doubles.

The Public Prosecution said that the Law of Protection from the Abuse will help in eliminating violence cases against women, with the establishment of a package of criminal procedures and penalties.

 

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Lifestyle

Ad Diriyah Oasis: Soon to Be an Integrated Creative Environment For Digital Arts

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Construction has kicked off in the world’s first center for digital arts Ad Diriyah Art Oasis, which is set to launch in 2022.

The project is under the supervision and partnership of Diriyah Gate Development Authority (DGDA) and the Saudi Ministry of Culture, they are expected to revolutionize the fields of digital art, artificial intelligence and modern technologies as they dedicate the area to supporting innovation.

The Art Oasis is located in the heart of mesmerizing Ad Diriyah, the Amedeo Schiattarella-designed Oasis will be part of the 10,000-square meter Al-Bujairi heritage district. It will contain six art studios, workshops, youth entertainment facilities and a library, in addition to workshops and lecture theaters.

Bringing together all these facilities will develop a fully-integrated creative environment for producing digital arts and allowing artists to develop their skills.

The Oasis will offer four main educational tracks:

– Arts, artificial intelligence, creative computing, and automatic learning.

– Digital arts, photography, production of movies and sound arts.

– Graphic design, 3d modelling, animation, and animated graphics.

– The New Media and Contemporary Art Research Center, an educational program exploring developed cultural contexts in the contemporary world.

Moreover, the Oasis will host public art events including the annual international exhibition for arts and artificial intelligence and a series of hackathons that focus on the application of the digital arts.

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HRH Princes Lamia Bint Majed Al Saud Receives People First Leader Award

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HRH Princess Lamia Bint Majed Al Saud, Secretary General and Member of the Board of Trustees at Alwaleed Philanthropies has received the ‘People First Leader Award’, and was named as an Honorary Advisory Board Member at the 8th Annual GCC GOV HR Summit 2020, the region’s biggest public sector human resources (HR) platform.

The award comes as a recognition for her implacable work and incredible leadership skills that comes in light of Alwaleed Philanthropies, her work aligns with the vision of Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz AlSaud to contribute to a world of tolerance, acceptance and equality for all.

“I am extremely honoured and humbled to be the recipient of the People First Leader Award and a special thanks to the organising committee for selecting me as the Honorary Advisory Board Member for this event,” the hardworking HRH Princess Lamia said. “Every milestone I have achieved to date at Alwaleed Philanthropies is a result of the team’s collaborative work and drive to create a better future for those in need.”

Her highness also added that Alwaleed Philanthropies has taken extraordinary efforts in supporting both women and the youth in the workplace, not just in Saudi Arabia but all over the Middle East. According to her, it’s important to bind “the spirit of collaboration in order to meet our collective goal; a more equal and prosperous world for all” once the pandemic is over.

Congratulations to her highness! We wish her more success and recognition for her incredible work.

 

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