Senior Saudi Officials Chart Technical Plans for Expo 2030

Observers said Vision 2030 illustrates how countries can support transformation and proactively anticipate structural changes based on a long-term vision. (Asharq Al-Awsat)
Observers said Vision 2030 illustrates how countries can support transformation and proactively anticipate structural changes based on a long-term vision. (Asharq Al-Awsat)
TT
20

Senior Saudi Officials Chart Technical Plans for Expo 2030

Observers said Vision 2030 illustrates how countries can support transformation and proactively anticipate structural changes based on a long-term vision. (Asharq Al-Awsat)
Observers said Vision 2030 illustrates how countries can support transformation and proactively anticipate structural changes based on a long-term vision. (Asharq Al-Awsat)

No sooner had Saudi Crown Prince Mohammed bin Salman announced in October 2021 Riyadh’s bid to host Expo 2030 that preparations for the nomination began with great momentum and enthusiasm.

All relevant government entities in the country participated and supported the effort, making the bid a central focus in the Kingdom.

Crown Prince Mohammed had emphasized that Expo 2030 would coincide with the fulfillment of Saudi Vision 2030, presenting an exceptional opportunity to showcase the achievements of the vision and share valuable lessons from this transformation journey.

He highlighted the competitive advantages boasted by Riyadh, as it stands as the “largest purchasing power in the Middle East” and possesses outstanding infrastructure.

Additionally, Riyadh is a cornerstone of economic growth in Saudi Arabia due to its immense size and economic influence.

The Royal Commission for Riyadh City, which is responsible for the comprehensive development of the Saudi capital, is also the government entity leading local efforts to host Expo 2030.

The Commission follows an administrative and technical governance approach that allows it to be responsible for all efforts aimed at achieving urban development in Riyadh.

The capital is paving its way to becoming one of the top 10 cities in the world in terms of urban economy, as affirmed by the CEO of the Commission during the presentation of Riyadh’s bid to host Expo 2030 before the General Assembly of the Bureau International des Expositions in Paris on Tuesday.

“We are ready to start working immediately upon our selection, and by February 2028, all preparations in Saudi Arabia will be completed to host Expo 2030,” said Ibrahim Al-Sultan, acting CEO of the Royal Commission for Riyadh City.

“We are confident in our ability to hold an unprecedented world exhibition,” he stressed.

The strategy behind Saudi government agencies for the Expo 2030 project is embodied in the royal decree issued on December 25, 2021, on establishing a steering committee for Expo 2030 to oversee the city’s nomination.

This decree was followed by a directive on March 7, 2022, granting the committee an official status under the name of the “Technical Preparations Committee.”

Informed sources revealed to Asharq Al-Awsat that the Committee is headed by Al-Sultan.

The committee includes several senior government officials in Saudi Arabia, namely Ahmed Al-Khateeb, Minister of Tourism; Mohammed Al-Jadaan, Minister of Finance; Faisal Al-Ibrahim, Minister of Economy and Planning; Mohammed Al-Tuwaijri, former Minister of Economy and Planning and Advisor to the Royal Court; Fahad Toonsi, Advisor to the Royal Court; and Hamed Fayez, Deputy Minister of Culture.

Additionally, it includes Fahad Al-Ruwaily, the Saudi Ambassador to France, and Fahd Hamidaddin, the CEO of the Saudi Tourism Authority.



Alkhorayef: Saudi Arabia Making Confident Strides Toward Localizing Automotive Industry

Alkhorayef spoke on Wednesday at the groundbreaking ceremony for the Hyundai plant at King Salman Automotive Cluster in King Abdullah Economic City in Jeddah. SPA
Alkhorayef spoke on Wednesday at the groundbreaking ceremony for the Hyundai plant at King Salman Automotive Cluster in King Abdullah Economic City in Jeddah. SPA
TT
20

Alkhorayef: Saudi Arabia Making Confident Strides Toward Localizing Automotive Industry

Alkhorayef spoke on Wednesday at the groundbreaking ceremony for the Hyundai plant at King Salman Automotive Cluster in King Abdullah Economic City in Jeddah. SPA
Alkhorayef spoke on Wednesday at the groundbreaking ceremony for the Hyundai plant at King Salman Automotive Cluster in King Abdullah Economic City in Jeddah. SPA

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has said the Kingdom is making “confident strides” at an accelerated pace to localize the automotive industry.

Alkhorayef spoke on Wednesday at the groundbreaking ceremony for the Hyundai plant at King Salman Automotive Cluster in King Abdullah Economic City in Jeddah.

He said the Kingdom’s efforts will create added value for the national economy and enhance its global competitiveness in line with the objectives of Saudi Vision 2030.

The plant is being built under a strategic partnership between the Public Investment Fund (PIF) and Hyundai Motor Company, a move that supports the localization of the automotive industry in the Kingdom and advances economic diversification.

The minister described the initiative as an important milestone in the journey to localize the automotive industry due to its significant impact.

He added that it will enhance industrial capabilities, strengthen supply chains, localize production, and develop local content, meeting local and regional demand for automobiles and consolidating the Kingdom's position as a global hub for the automotive industry.

He praised PIF’s role in driving industrial transformation and empowering high-value sectors with tangible economic impact in the Kingdom and the region.

He also highlighted the importance of integrated efforts by all relevant government entities in advancing the localization of the automotive industry, including the establishment of the Hyundai plant.

He thanked the Ministries of Investment, Energy, and Finance; the Ministry of Economy and Planning; the National Industrial Development Center; and the Saudi Industrial Development Fund.

Alkhorayef stressed that the project aligns with the Kingdom's accelerating industrial goals and its vision to transform ambitions into reality.

The National Industrial Strategy aims to attract three global automotive manufacturers to produce 300,000 vehicles annually within a single industrial complex, a goal now realized with Hyundai joining Lucid and Ceer.

The factory is projected to produce 50,000 vehicles annually and contribute approximately $5 billion to the Kingdom's gross domestic product (GDP) by 2045.

Hyundai has had a presence in the Saudi market for over 40 years and currently holds the second-largest market share in the Kingdom’s automotive sector.