Saudi Sustainability, Climate Initiatives Shine as Global Achievements in ‘Expo 2030’ Challenges

Snapshot of Riyadh, the Saudi capital, depicts a state of competitiveness and escalating urban development (Asharq Al-Awsat)
Snapshot of Riyadh, the Saudi capital, depicts a state of competitiveness and escalating urban development (Asharq Al-Awsat)
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Saudi Sustainability, Climate Initiatives Shine as Global Achievements in ‘Expo 2030’ Challenges

Snapshot of Riyadh, the Saudi capital, depicts a state of competitiveness and escalating urban development (Asharq Al-Awsat)
Snapshot of Riyadh, the Saudi capital, depicts a state of competitiveness and escalating urban development (Asharq Al-Awsat)

Despite global challenges and threats to life and the planet, Saudi Arabia has introduced numerous initiatives that tackle these issues and offer solutions.

This was evident during the Kingdom’s presidency of the 2020 G20 Summit.

Saudi Arabia has made noteworthy contributions in sustainability, environmental preservation, carbon neutrality, promoting eco-friendly activities, and investing in the transfer and localization of technology industries for clean and sustainable energy.

According to experts interviewed by Asharq Al-Awsat, Riyadh has presented initiatives that are friendly to human life and the planet. These include the Middle East Green Initiative and the Saudi Green Initiative.

Additionally, Riyadh’s efforts in stimulating the global economy through financial solutions and revitalizing emerging and promising sectors enable it to host the best version of the World Expo 2030.

The Kingdom’s candidacy strategy for its bid to hold the international fair addresses global issues and provides all the necessary elements to achieve its goals effectively.

The timing of the Expo 2030 exhibition will coincide with the completion of the programs, projects, and goals of Vision 2030 in Saudi Arabia, said Fadel al-Buainain, a member of the Saudi Shura Council.

As a result, it will serve as a culmination of government efforts and the ambitious transformation project led by Crown Prince Mohammed bin Salman. This implies that the exhibition will serve as a gateway for visitors, investors, and leaders from around the world.

Al-Buainain believes that Expo 2030, if held in Riyadh, will stimulate global stakeholders and the investment sector to invest in the Kingdom, thereby enhancing economic diversity.

Additionally, this will lead to the transformation of the expo village and its facilities into a permanent site, subsequently becoming a comprehensive tourist destination and a global platform that attracts visitors from all around the world.

Moreover, the international exhibition is expected to offer global advancements and achievements.

Al-Buainain added that all sectors in the Kingdom are now open to investors, including the hospitality sector supporting the exhibition, as well as investments in tourism, industry, technology, infrastructure, modern transportation, and other sectors brimming with investment opportunities.



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
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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.