PepsiCo Ups Investments in Saudi Arabia to $1.6 Billion
February 20, 2020, 12:35 pm

PepsiCo Ups Investments in Saudi Arabia to $1.6 Billion

PepsiCo has said that it seeks to invest over six billion riyals ($1.6 billion) in Saudi Arabia over the next five years.

The governor of the Saudi Arabia General Investment Authority (SAGIA), Ibrahim al-Omar, and Ramon Laguarta, chairman and chief executive officer of PepsiCo, met in Riyadh on Wednesday to discuss the Kingdom’s investment climate.

Among the topics of discussions were the reforms implemented by Saudi Arabia.

During the meeting, Laguarta stressed the historic relationship between PepsiCo and its partners in Saudi Arabia, saying that the company and its local partners have invested in the Kingdom 11.4 billion riyals ($3 billion) in the past seven years.

He revealed plans to increase these investments by more than six billion riyals ($1.6 billion) in the coming five years.

Laguarta said that his company has created jobs for 8,000 employees in Saudi Arabia.

Al-Omar said that Saudi Arabia continues to present an attractive climate for international investors by implementing a comprehensive economic transformation program.

“PepsiCo represents a prime example of a close and reciprocal partnership founded on values of innovation, diversification and sustainable growth,” he said.

The PepsiCo Foundation, the company’s philanthropic arm, will invest nearly 16 million riyals ($4.27 million) in social impact programs focusing on women and youth empowerment. The fund will focus on sustainability projects including water conservation and plastic waste management.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”