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)
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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.



Egypt GDP Growth Forecast at 4% in 2024/25 Fiscal Year, IMF Official Says

A worker counts money at a petrol station in Cairo on July 26, 2024. (AFP)
A worker counts money at a petrol station in Cairo on July 26, 2024. (AFP)
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Egypt GDP Growth Forecast at 4% in 2024/25 Fiscal Year, IMF Official Says

A worker counts money at a petrol station in Cairo on July 26, 2024. (AFP)
A worker counts money at a petrol station in Cairo on July 26, 2024. (AFP)

Egypt's economic growth is forecast at 4% in the 2024/25 fiscal year and inflation is expected to fall below 15%, the International Monetary Fund's mission chief for the country said on Tuesday.

In comments to reporters, Ivanna Vladkova Hollar added that talks between the IMF and the Egyptian government about access to climate transition financing from the Fund's Resilience and Sustainability Facility (RSF) would continue in the autumn.

In March, Prime Minister Mostafa Madbouly said the country would seek about $1.2 billion from the RSF.

Egypt can already draw $820 million from its latest 46-month IMF $8 billion loan program after the fund said on Monday it had completed its third review.

Approved in 2022 and expanded this year, the loan program followed an economic crisis marked by high inflation and severe foreign currency shortages.

Hollar said boosting tax revenue was a priority reform issue that would be discussed during the program's fourth review.

"Egypt needs tax resources to be able to spend on priority needs, that is a priority reform that we will be discussing at the time of the fourth review," she said.

Under the program, the outstanding reviews will take place every six months until autumn 2026, with each disbursement currently scheduled at about $1.3 billion, Hollar said in April.