Saudi Arabia Launches Program to Exploit Wind, Solar Energy

Saudi Minister of Energy, Prince Abdulaziz bin Salman (AFP)
Saudi Minister of Energy, Prince Abdulaziz bin Salman (AFP)
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Saudi Arabia Launches Program to Exploit Wind, Solar Energy

Saudi Minister of Energy, Prince Abdulaziz bin Salman (AFP)
Saudi Minister of Energy, Prince Abdulaziz bin Salman (AFP)

Saudi Minister of Energy Prince Abdulaziz bin Salman said the Kingdom would strongly move towards completing the energy efficiency project that began years ago, underlining the importance of exploiting wind and solar energy.

Saudi Arabia has a number of characteristics, which puts it at the forefront of the model countries to implement energy efficiency, the minister said his comments during the first day of the G20 Think group conference, which is currently presided by the Kingdom.

He added that the prospective gas projects would contribute to an energy shift, drive the national petrochemical industry, and stimulate renewable energy programs.

Saudi Arabia has formed an independent ministry for energy affairs, after it was previously limited to oil. The new ministry would deal with the energy issue in all its details, and will seek to overcome the obstacles facing this challenging sector, according to Prince Abdulaziz.

He also emphasized that the Kingdom was one of the leading countries to expand the concept of circular economy theory to reduce carbon emissions, stressing that it was striving to support efforts to preserve the environment, facilitate access to clean and sustainable practices, and reduce global tension due to emissions.

During the virtual conference, the minister stressed that the current conditions, which were imposed by the outbreak of the new coronavirus, call for more work to assess the environmental impact, stimulate the adoption of the circular economy and launch programs to reduce energy consumption, promote human health and provide the best services for sustainable energy.

“If the world does not benefit from this pandemic to change our reality... we will be deceiving ourselves,” he said.



Saudi Arabia, Djibouti Sign Agreement to Promote, Safeguard Investments

The event is being held under the patronage of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud - SPA
The event is being held under the patronage of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud - SPA
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Saudi Arabia, Djibouti Sign Agreement to Promote, Safeguard Investments

The event is being held under the patronage of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud - SPA
The event is being held under the patronage of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud - SPA

Saudi Arabia and Djibouti have signed an agreement to encourage and protect mutual investments, marking a significant step in enhancing economic cooperation between the two nations.
The agreement was signed by Saudi Minister of Investment Khalid Al-Falih and Djiboutian Secretary in Charge of Investment and Development of the Private Sector Safia Mohamed Ali Gadileh during the 28th World Investment Conference in Riyadh, SPA reported.

The event is being held under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister.
Both officials praised the agreement, emphasizing its importance in fostering collaboration between the private and government sectors of both countries. They highlighted the agreement’s role in supporting the ambitious investment initiatives currently being pursued by the Kingdom and Djibouti.
The agreement is designed to create a secure and attractive investment environment by offering key advantages such as investment protection, national treatment, fair and equitable treatment, transparency, and access to national courts or international arbitration for dispute resolution.
By ensuring these safeguards, the agreement aims to increase the volume of mutual investments across various sectors and strengthen economic ties between the two nations.