Senior execs underscore Saudi achievements

The Kingdom of Saudi Arabia's flag

Top executives of several Saudi companies praised the Kingdom’s achievements and significant progress in various sectors, making the country a strong contender in the global economic arena.

Argaam spoke to a number of Chairpersons and CEOs on the 93rd National Day, with all congratulating the government leadership on the recent progress.

They stressed that the developments in the Kingdom made it a competitive player and had a positive impact on all sectors, highlighting the importance of diversifying the national economy through developing new sectors.

Zahrat Al Waha for Trading Co.’s Chairman Ahmed Al Theyab emphasized the Saudi government’s role in achieving the Kingdom's Vision 2030 and implementing successful policies and strategies to promote economic growth to build a strong economic base, improve the investment environment, and develop industrial activity in the Kingdom. 

He also believes that the government's support for the labor market through providing national cadres has helped attain the company's objectives and continuity with high efficiency by benefiting from local expertise.

Economic initiatives and wise policies to cut financial burdens and support digital transformation also had a positive impact on Zahrat Al Waha, which produces plastic bottles and plastic bottle caps. This contributed to developing the operational system, automating and analyzing data to support business, achieving greater integration, and enhancing the level of efficiency in the company, according to Al Theyab. 

Mohammad Abunayyan, founder and chairman of ACWA Power Co., said that the company is present internationally as it is committed to supporting the goals of the Kingdom's Vision 2030 by developing the renewable energy sector, water desalination, and the use of green hydrogen through investing in local and global technology and projects.

Mohammad Abunayyan, Founder and Chairman of ACWA Power Co., said that the company is present internationally as it is committed to supporting the goals of the Kingdom's Vision 2030 by developing the renewable energy sector, water desalination, and the use of green hydrogen through investing in local and global technology and projects.

He stressed the importance of projects’ diversification in cooperation with local and international partners, in addition to paying attention to the mega projects that serve the Kingdom's economy and contribute to providing job opportunities and improving economic performance.

Abunayyan highlighted the importance of achieving diversification of the national economy and contributing to reducing the costs of electricity generation, water desalination, and the use of green hydrogen to reach sustainability goals and support the Kingdom's energy independence.

Ahmed Alsultan, CEO of Thob Al Aseel Co., expressed his pride in the Kingdom's accomplishments in various fields, particularly that they were achieved in such a short period, emphasizing the aspiration to make greater achievements through existing initiatives and projects to complete the giving process.

Alsultan pointed out that many of these achievements reflected positively and significantly on the private sector as a result of empowerment and government support in improving the quality of business and providing a suitable environment for local and international companies to develop their businesses. This support contributed to growth, expansion and provision of products and services at globally competitive levels. 

He added that this positively affected the national economy, raised performance levels, and increased job opportunities, thanks to the wise management in implementing Vision 2030 and the continuous efforts to achieve its goals. 

Elsewhere, Mazen Badawood, CEO of Al Jouf Agricultural Development Co., said that the breakthroughs made by the Kingdom in various fields during the previous years, in which the Kingdom competes with many developed countries of the world, reflected positively on all sectors, including the agricultural sector that witnessed remarkable development to achieve the goals of food security, preservation of natural resources, and sustainability.

He added that the company played an important role alongside the Ministry of Environment, Water, and Agriculture in achieving these goals, bringing about tangible positive results, and winning many local and international awards.

Badawood went out to say that the company continued to secure local and global leadership in the production of strategic crops such as wheat, potatoes, and olives, which boosted net profits in the fourth quarter despite the decline in sales, which was due to the implementation of the company's strategy to increase production of strategic crops and maximize the use of its assets. 

Meanwhile, Khaled Alkhattaf, CEO of Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO), emphasized the state's support for the private sector to achieve pharmaceutical security.

SPIMACO has taken many executive and strategic steps to develop the production system and provide specialized medicines, to raise the local pharmaceutical production to 40%, according to Alkhattaf. 

Alkhattaf expressed his pride in the Kingdom's pharmaceutical industry's progress, noting that SPIMACO is working hard to enhance its capabilities in this important sector and achieve future aspirations through the implementation of a comprehensive strategic plan to increase production capacities and develop industrial infrastructure, to achieve self-sufficiency in medicine production and meet the needs of the local market.