Makkah Economic Forum Highlights Urban Economic Development

Makkah Economic Forum Highlights Urban Economic Development
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Makkah Economic Forum Highlights Urban Economic Development

Makkah Economic Forum Highlights Urban Economic Development

Participants in Makkah Economic Forum 2019 stressed the importance of boosting pull factors and searching for new ideas to achieve economic development in urban areas.

In the forum’s last day, Jeddah Mayor Saleh al-Turki said investments that don’t directly benefit the whole society are mainly useless.

He pointed out that Jeddah city’s main approach is to serve the citizens in a distinctive way and improve the life cycle in addition to enhancing the infrastructure in slum areas and districts that lack services.

Turki also talked about Jeddah Municipality’s policy towards slum areas, which amount to about 60, that need to be reconstructed and developed.

Regarding major projects and initiatives in the city, Turki said there are projects worth about SR2.7 billion ($720 million) and new projects that will be funded by about SR4.6 billion ($1.2 million) in light with improving living standards and the quality of life requirements.

He pointed out that Jeddah is qualified to be one of the world’s most important cities.

“There are new criteria to select and qualify contractors and partners to implement projects,” he stressed, adding that the Ministry of Municipal and Rural Affairs reclassifies contractors according to competence factors.

The Mayor highlighted the importance of the historic and cultural Jeddah, underscoring UNESCO’s adoption of Historic Jeddah within its World Heritage List.

He explained that there are two approaches taken in the historical city. The first lies in preserving houses and the other lies in reconstructing the city as a whole.

This would transform it into an attractive area and revive it economically, helping create great investment opportunities.

He stressed that Riyadh stood out as a city with competitive advantages globally, adding that Jeddah was on the verge of implementing about 40 projects in the hospitality sector.

Five major projects are under study, three tunnels are being constructed and two tunnels under consideration, he said.

Turki also noted that the urban and demographic expansion in Jeddah was heading north with a strategy to guide it towards the east.



Riyadh Meeting Paves Way to Restoring US-Russian Ties

Officials are seen at the talks between the United States and Russia at the Diriyah Palace in Riyadh on Tuesday. (Reuters)
Officials are seen at the talks between the United States and Russia at the Diriyah Palace in Riyadh on Tuesday. (Reuters)
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Riyadh Meeting Paves Way to Restoring US-Russian Ties

Officials are seen at the talks between the United States and Russia at the Diriyah Palace in Riyadh on Tuesday. (Reuters)
Officials are seen at the talks between the United States and Russia at the Diriyah Palace in Riyadh on Tuesday. (Reuters)

Russia and the US agreed Tuesday to start working toward ending the war in Ukraine and improving their diplomatic and economic ties, the two countries' top diplomats said after meeting in Riyadh.

The two sides stressed that their talks at the Diriyah Palace were very fruitful and were “a step forward.”

The meeting was attended by Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah, Russian Foreign Minister Sergei Lavrov and US Secretary of State Marco Rubio.  

Rubio was accompanied by US national security adviser Mike Waltz and Special Envoy Steve Witkoff, while Lavrov sat next to the Kremlin's foreign affairs adviser, Yuri Ushakov.  

Also present was Saudi Minister of State, Member of the Cabinet and National Security Adviser Dr. Musaed bin Mohammed Al-Aiban.

In an interview with The Associated Press after the meeting, Rubio said the two sides agreed broadly to pursue three goals: to restore staffing at their respective embassies in Washington and Moscow, to create a high-level team to support Ukraine peace talks and to explore closer relations and economic cooperation.

He stressed, however, that the talks marked the beginning of a conversation, and more work needs to be done.

Lavrov echoed Rubio's remarks and told reporters that “the conversation was very useful.”

“We not only listened, but also heard each other,” he said.

Rubio said that ending the war in Ukraine could “unlock the door” for “incredible opportunities that exist to partner with the Russians geopolitically on issues of common interest and, frankly, economically on issues that hopefully will be good for the world and also improve our relations in the long term.”

He added that ending the conflict would require concessions from all sides and that Europe would play a part — noting that they have also imposed sanctions on Russia. He said Washington “is not going to predetermine" would those concessions would be.

Tuesday's meeting was meant to pave the way for a summit between US President Donald Trump and Russian President Vladimir Putin. After the talks ended, Ushakov and Waltz said no date has been set yet for that summit.

Ushakov told Russian television that a meeting was “unlikely” to take place next week, while Waltz said he thought it could be arranged in the coming weeks.

Speaking to reporters after the meeting, Lavrov mentioned the same three goals as Rubio and said that Washington and Moscow agreed to appoint representatives to carry out “regular consultations” on Ukraine.

“I have reason to believe that the American side has started to better understand our position” the Russian foreign minister said.

Witkoff said the meeting was “positive, upbeat, constructive. Everybody was there to get to the right outcome.”