Hyundai Motor Manufacturing Middle East celebrates groundbreaking milestone

Hyundai Motor Manufacturing Middle East celebrates groundbreaking milestone
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Hyundai Motor Manufacturing Middle East celebrates groundbreaking milestone
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Updated 7 min 4 sec ago
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Hyundai Motor Manufacturing Middle East celebrates groundbreaking milestone

Hyundai Motor Manufacturing Middle East celebrates groundbreaking milestone

Hyundai Motor Manufacturing Middle East, a joint venture between PIF and Hyundai Motor Company, hosted its groundbreaking ceremony in the King Salman Automotive Cluster within King Abdullah Economic City.

The ceremony is a significant milestone that marks another step in the development of the automotive industry in Saudi Arabia.

PIF owns a 70% stake in HMMME, with Hyundai holding the remaining 30 percent.

The manufacturing plant, Hyundai's first facility in the Middle East, will roll out its first vehicle by the fourth quarter of 2026 and targets an annual production of 50,000 vehicles.

This will include both internal combustion engines and electric vehicles.

Yazeed A. Alhumied, deputy governor and head of MENA Investments at PIF, said: “This groundbreaking is a significant milestone for PIF as it further strengthens the automotive industry in Saudi Arabia.

"PIF will continue to enable and accelerate the growth of Saudi Arabia’s automotive ecosystem through partnerships. This joint venture underscores PIF’s commitment to build local capabilities, attract cutting-edge technology, and create highly skilled jobs in Saudi Arabia’s automotive and mobility sector.”

Jaehoon Chang, Hyundai Motor Group vice chair, said: "Today's groundbreaking marks the beginning of a new chapter for both the Kingdom and Hyundai Motor Company, as we lay the foundation for a new era of future mobility and technological innovation.

"Through our joint venture, we hope to contribute to the development of talent in the region with advanced skills and capabilities under Saudi Vision 2030."

Wongyun Park, vice president and CEO of Hyundai Motor Manufacturing Middle East, said: "With HMMME, we are driving change forward and paving the way for a new industrial future in the region. The facility will become a platform for growth and industrial excellence in the heart of the Kingdom."

HMMME is building a foundation for a new era of automotive manufacturing in Saudi Arabia.

Harnessing the skills of the local workforce, the new manufacturing plant will create thousands of jobs and allow for knowledge transfer and skills development.

The localization of Hyundai's vehicles will accelerate the growth of Saudi Arabia's automotive and mobility ecosystem and pave the way for a new industrial future.

This partnership is one in a series of PIF initiatives establishing Saudi Arabia as a global automotive player.

Together, these initiatives are driving transformation in the sector and boosting domestic manufacturing capabilities, infrastructure, and supply chains.


Diriyah welcomes Trump to the birthplace of Saudi Arabia

Diriyah welcomes Trump to the birthplace of Saudi Arabia
Updated 1 min 7 sec ago
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Diriyah welcomes Trump to the birthplace of Saudi Arabia

Diriyah welcomes Trump to the birthplace of Saudi Arabia

Crown Prince Mohammed bin Salman welcomed US President Donald Trump on Tuesday evening in Diriyah.

During his official visit, Trump toured the UNESCO World Heritage site of At-Turaif, the historic birthplace of the Kingdom, the capital of the First Saudi State, and the ancestral home of the Al-Saud royal family.

Diriyah is located adjacent to the capital city of Riyadh and is a transformative destination contributing to Vision 2030, with At-Turaif standing as a cornerstone of Saudi Arabia’s rich heritage and a symbol of its ambitious future.

Trump was briefed on the significance of At-Turaif and enjoyed a traditional Saudi Samri performance before posing for a commemorative photo in front of Salwa Palace, one of Diriyah’s iconic historical landmarks and once the seat of government.

Commenting on the visit, Jerry Inzerillo, GCEO of Diriyah Company, said: “It was a tremendous honor for us in Diriyah to have hosted President Trump on his visit to At-Turaif, the birthplace of the Kingdom of Saudi Arabia and the ancestral home of the Al-Saud royal family – a place where we celebrate the past and are building the future.

“It was also a unique opportunity to present our future vision for Diriyah and to share with the president the three centuries of history echoing through the palaces and passageways of At-Turaif. President Trump expressed his admiration for what he saw and experienced during this exceptional visit to Diriyah.”

This marks Trump’s first visit to At-Turaif and the Diriyah project.

The site was under restoration during his first official visit to Riyadh during his initial presidential term.

He now joins a distinguished list of world leaders who visited Diriyah in the past year, including French President Emmanuel Macron, UK Prime Minister Keir Starmer, and Bhutan’s king.


Trendyol and Zid partner to drive revenue growth and expansion for SMEs in KSA, UAE

Trendyol and Zid partner to drive revenue growth and expansion for SMEs in KSA, UAE
Updated 15 May 2025
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Trendyol and Zid partner to drive revenue growth and expansion for SMEs in KSA, UAE

Trendyol and Zid partner to drive revenue growth and expansion for SMEs in KSA, UAE

Trendyol, one of the world’s fastest-growing e-commerce marketplaces, and Zid, Saudi Arabia’s leading e-commerce enablement platform, have partnered to accelerate growth opportunities for merchants in the Kingdom and UAE by providing them with the tools to increase reach, scale, and grow digitally. This strategic partnership with Zid enables sellers to connect their stores to Trendyol, giving them instant access to over 3 million customers on the platform.

“Our focus has always been on empowering local businesses and enhancing the regional e-commerce ecosystem,” said Mohamad El-Ansari, CEO, Trendyol Gulf. “Zid shares many core values with us — from being a digital-first business to aiming to make a real impact on the local community and contributing toward the economic development of the region. This partnership opens new doors for brands and entrepreneurs to grow and marks an important step toward our longer-term ambition of enabling two-way commerce to and from Saudi. We’ve already welcomed 1,000 local SMEs to our platform in a short time, and with Zid, we’re well positioned to expand that reach and support even more businesses in their digital journey.”

Zid supports sellers to grow through a unified approach to digital and physical retail. The integration with Trendyol delivers on Zid’s Total Commerce vision, enabling merchants to manage every sales channel — online, offline, physical stores, and social commerce — through a single platform. 

“With Trendyol as a key sales channel, Zid merchants can now set up their store and seamlessly sync their inventory, product listings, logistics, and payments, gaining access to one of the region’s fastest-growing digital marketplaces with millions of active, purchase-ready shoppers. Through Zid’s unified dashboard, they can manage all sales channels in one place, online and offline. “This powerful integration expands access to high-growth markets while equipping merchants with the tools and insights they need to scale. It reflects our commitment to being a catalyst for growth, unlocking regional opportunities for our merchants,” added Mazen AlDarrab, CEO of Zid.

This collaboration reflects Trendyol’s ongoing commitment to building a localized, inclusive marketplace that meets the evolving needs of Gulf consumers and businesses. As the company continues to grow its partner ecosystem, it remains focused on enabling more brands to scale seamlessly and succeed in the digital economy, as well as grow across borders. 


Saudi brands eyeing global expansion get boost at expo

Saudi brands eyeing global expansion get boost at expo
Updated 14 May 2025
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Saudi brands eyeing global expansion get boost at expo

Saudi brands eyeing global expansion get boost at expo

The first International Floating Franchise Exhibition concluded its events with remarkable success aboard the luxurious Aroya Cruise, with wide international participation from representatives of 24 countries. Held under the patronage of the Federation of Saudi Chambers, the event witnessed the signing of several international and local agreements aimed at enhancing the global presence of Saudi brands and positioning the Kingdom as a regional and global hub for franchise business.

The closing ceremony commenced with a keynote speech highlighting the Saudi identity and its mission to promote a global culture of business through the initiative “Saudi Franchise to the World,” which served as the central theme of the exhibition.

During the event, cooperation agreements were signed between the National Franchise Committee and entities from several countries including the UK, South Korea, South Africa, and China, as part of a broader effort to support the international expansion of Saudi brands and attract foreign investments. In addition, local agreements were signed with key government entities such as Monsha’at (Small and Medium Enterprises General Authority) and the Social Development Bank, to strengthen the infrastructure of the franchise sector within the Kingdom.

In his closing remarks, Dr. Khalid Al-Ghamdi, chairman of the National Franchise Committee, emphasized the exhibition’s strategic objectives, including:

• Launching a specialized investment fund to support Saudi brands and empower their expansion into international markets.

• ntroducing an interactive digital platform designed to connect Saudi brands with global investors, providing qualification, marketing, and technical support services to streamline international franchising.

• Establishing a national company for the alliance of Saudi brands, aimed at facilitating collective global expansion through strategic partnerships, joint procurement, and service integration.

The closing ceremony also included the recognition of sponsoring companies, government and international partners, and the Saudi Restaurants and Cafes Owners Association, in appreciation of their vital role in the exhibition’s success.

Dr. Al-Ghamdi announced that preparations are underway to host the next floating exhibition in Istanbul, further reflecting the committee’s commitment to expanding the global footprint of Saudi franchising.

He concluded by expressing his sincere gratitude to the team at the Federation of Saudi Chambers, and the crew of Aroya Cruise, a subsidiary of the Public Investment Fund, praising their dedication and outstanding efforts in delivering this exceptional event.

The exhibition ran for three days, featuring 10 interactive workshops led by experts from various countries, alongside showcases of a wide array of Saudi brands eager to expand internationally — all aligning with Saudi Arabia’s Vision 2030, which seeks to establish the Kingdom as a global center for franchising.


Trade show offers gateway to KSA’s $10.39bn hardware market

Trade show offers gateway to KSA’s $10.39bn hardware market
Updated 14 May 2025
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Trade show offers gateway to KSA’s $10.39bn hardware market

Trade show offers gateway to KSA’s $10.39bn hardware market

dmg events and Koelnmesse have partnered to bring the globally renowned “EISENWARENMESSE — International Hardware Fair” (Cologne, Germany) to Saudi Arabia for the very first time. Building on the success of Koelnmesse’s flagship event and adding the profound regional track record of dmg events in the Middle East region, newly launched International Hardware Fair Saudi Arabia will take place June 16-18 at the Riyadh International Convention and Exhibition Center.

The event is poised to position Saudi Arabia as a key player in the global hardware and tools industry, offering a strategic gateway to the Kingdom’s rapidly expanding $10.39 billion market. Spanning more than 7,800 square meters of exhibition space, the inaugural edition will welcome over 200 exhibitors from more than 25 countries, including Saudi Arabia, Germany, China, India, Italy, the UAE, Qatar, and Greece.

As the nation accelerates efforts to become a global business and investment hub, the International Hardware Fair Saudi Arabia will unite manufacturers, distributors, and decision-makers to cater for the concrete demand and to exchange ideas on innovations, explore emerging technologies, and drive sustainable growth.

“The launch of International Hardware Fair Saudi Arabia marks an exciting milestone for dmg events as we partner with Koelnmesse, reflecting a shared commitment to supporting the Kingdom’s industrial advancement and enabling companies to build valuable connections in line with Vision 2030,” said Muhammed Kazi, senior vice president — construction, dmg events. 

“With our deep-rooted presence in Saudi Arabia and a proven track record of delivering impactful exhibitions, this event will facilitate growth and acceleration, offering visitors and exhibitors a meeting ground for strategic collaboration with direct access to one of the region’s fastest growing markets.”

“Saudi Arabia is undergoing an extraordinary transformation with a growing need for world-class exhibitions that meet the industry’s evolving demands,” added Denis Steker, senior vice president International, Koelnmesse. “Partnering with dmg events enables us to extend the International Hardware Fair’s global footprint while tailoring it to meet the specific needs of the Saudi Arabian market. We look forward to facilitating meaningful exchange between global suppliers and stakeholders, creating long-term value for the hardware and tools sector.”

“It’s quite interesting to see such an international fair happening in Saudi Arabia. This fair has been happening in Cologne for many years and I’ve visited it numerous times, looking for specialties, high-quality products, new partnerships, and exploring new lines of business. To see this happening in the local market is a significant advantage for the economy and the industry itself,” said Abdallah Katerji, general manager, Albawardi Tools and Hardware. “Since the hardware and tools business is quite specialized, where knowledge is incredibly important and is something that you need to continuously strive for, having such fairs happening locally will definitely improve this experience.”


SAB first in Kingdom to earn CIPS Gold Award

SAB first in Kingdom to earn CIPS Gold Award
Updated 14 May 2025
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SAB first in Kingdom to earn CIPS Gold Award

SAB first in Kingdom to earn CIPS Gold Award

 

The recognition highlights SAB’s leadership and ongoing commitment to embedding global standards in procurement and supply chain practices. 


Saudi Awwal Bank, one of the Kingdom’s leading financial institutions, has become the first Saudi entity and the 11th worldwide to be awarded the Gold Certification from the Chartered Institute of Procurement and Supply under its global Procurement Excellence Programme.
This recognition highlights SAB’s leadership and ongoing commitment to embedding global standards in procurement and supply chain practices. It reflects the bank’s strategic focus on governance, ethical sourcing, and sustainable procurement, all central to SAB’s broader vision of operational excellence and innovation.
The Gold Award is one of the highest levels of certification offered by CIPS and is awarded to organizations that demonstrate robust procurement leadership, effective integration across the business, and strong performance management aligned with global best practices.
Ghada Al-Jarbou, chief operating officer at SAB, said: “The CIPS Advanced Gold Certification validates the strength of our procurement transformation. It reflects our focus on building robust governance, enhancing operational efficiency and ensuring our procurement function supports long-term innovation and resilience. This achievement demonstrates SAB’s commitment to operational excellence and strategic growth, which in turn strengthens our ability to deliver sustainable value to our employees, customers and shareholders.”
Ben Farrell, CIPS CEO, said: “This is a proud moment for SAB and a milestone for the wider procurement profession in the Kingdom. SAB’s achievement of the CIPS Gold Award is a clear indication of its commitment to placing procurement at the center of business strategy and transformation. This award recognizes SAB’s excellence in governance, strategic alignment, and operational delivery.”
The CIPS Procurement Excellence Programme is an internationally recognized framework used by public and private sector organizations worldwide to benchmark, assess and enhance their procurement functions. It evaluates performance across leadership, strategy, people, process, and systems — providing a roadmap for continuous improvement.