In a groundbreaking move, Saudi Arabia is set to open its first-ever alcohol store in the capital city of Riyadh. The store will exclusively cater to non-Muslim diplomats, marking a significant shift in the traditionally conservative Muslim country.
What Happened: The store, located in the Diplomatic Quarter of Riyadh, will require customers to register through a mobile app and obtain a clearance code from the foreign ministry, reported Reuters on Wednesday. The store will also enforce monthly purchase quotas.
The move, spearheaded by Saudi Crown Prince Mohammed bin Salman, is part of the country’s broader Vision 2030 initiative, aimed at diversifying the economy and attracting tourism and business.
See Also: Donald Trump Sold $2.4 Million Ethereum: Smart Move Or Big Mistake?
While the store will be exclusively for non-Muslim diplomats, it is unclear if other non-Muslim expatriates in the country will have access. The store is expected to open in the coming weeks.
Why It Matters: The opening of the alcohol store is a significant development in Saudi Arabia’s ongoing efforts to modernize and diversify its economy. In recent years, the country has made several notable changes, including relaxing strict social codes, allowing women to drive, and opening the country to non-religious tourism and concerts.
This move also comes when Saudi Arabia is making significant economic strides. A few weeks ago, the country secured $12 billion in foreign debt, marking its most substantial foreign borrowing since 2017. Additionally, the Saudi government’s mandate for global tech giants to establish regional headquarters in the country has expanded their presence in Saudi Arabia.
Image via Shutterstock
Engineered by Benzinga Neuro, Edited by Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.