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RIYADH: ��������’s imports of Japanese matcha skyrocketed by nearly 900 percent in 2023 to 81,000 kilograms at a value at SR9 million ($2.40 million), up from just 9,000 kilograms in 2022, highlighting the rapid expansion of the drink’s market presence across the Kingdom.

The momentum continued into 2024, with imports totaling 46,000 kilograms worth SR7 million, reflecting sustained consumer demand and the growing role of matcha in the Kingdom’s cafe sector, Al-Eqtisadiah reported.

Cafes are capitalizing on the trend, with Jon & Vinny’s in Riyadh reporting weekend sales of 350 matcha cups per branch, making up 22 percent of beverage revenues, according to Al-Eqtisadiah.

The cafe uses a premium Japanese blend priced at SR1,200 per kilogram. Similarly, Pro 92 Cafe said matcha lattes alone contribute 10.5 percent of total sales, consuming over 150 kilograms of matcha monthly across branches.

The broader green tea category — which includes matcha — accounted for SR74 million in Saudi imports in 2024, totaling 2.3 million kilograms. In comparison, 2023 saw 2.5 million kilograms imported at a value of SR79 million, Al-Eqtisadiah reported.

Cups of matcha are sold at prices ranging from SR16 to SR29, depending on the outlet. This price variation has spurred a growing home-preparation market, with local Instagram-based businesses selling matcha kits priced between SR110 and SR180.

Driven by health-conscious consumers and youth interest in Japanese culture, matcha is carving out a permanent share in the Kingdom’s beverage landscape.

JEDDAH: ��������’s Public Investment Fund launched a strategic program designed to build skills, address labor market needs, and support economic diversification to boost national talent. 

The “azm” workforce development program was unveiled at a signing ceremony attended by Education Minister Yousef Al-Benyan and PIF Governor Yasir Al-Rumayyan, alongside partners from the Technical and Vocational Training Corp., Colleges of Excellence, Human Resources Development Fund, and Roshn Group. 

The launch underscores PIF’s role in advancing Vision 2030, ��������’s plan to transition to a knowledge-based economy and reduce reliance on oil revenues. 

In a post on its official X account, PIF said it launched “the ‘azm’ program to empower national talents and equip them with the expertise and skills required by the labor market, thereby contributing to building a stronger and more diverse national economy, through a signing ceremony that included the program’s partners.” 

According to the sovereign wealth fund, azm aims to create a pipeline of technically skilled Saudis to meet the needs of PIF’s investments, portfolio companies, and ecosystem partners. It focuses on employer-driven skill development, with 80 percent of training based on hands-on, real-world applications. 

Under the program, PIF signed memoranda of understanding with TVTC and the Colleges of Excellence to manage and deliver training. The agreements cover curriculum development, contracting with local and international providers, overseeing registration and evaluation, and operating training facilities. 

“Future cooperation between Colleges of Excellence and the fund includes launching an academic entity under the azm program to serve as a specialized training body in developing technical and professional skills for Saudi youth,” the Colleges of Excellence posted on its X account.

The fund said azm will offer tailored training at competitive costs, apply rigorous learner selection, and provide financial incentives to cover tuition. Employers partnering with the program will gain access to a job-ready Saudi workforce trained to their specifications. 

PIF said azm leverages its existing experience in delivering training across portfolio companies and taps into a broad network of local and international providers. It also benefits from strong ties with accreditation bodies and access to government funding mechanisms for workforce development.