Ecclesian Consulting wants to conclude deals with Saudi partners that include initial understandings to launch investments in the green economy, clean energy, entertainment, and hospitality sectors in the Kingdom.
Angus Jackson OBE, founder and general manager of the British fund, told Asharq al-Awsat that he discussed partnerships with Saudi CEOs on the sidelines of the Future Investment Initiative (FII) conference, which concluded its activities in Riyadh recently.
Ecclesian Consulting agreed with Saudi Excellence Company to finance investments in Saudi Arabia in the green economy, clean energy, hospitality, tourism, and entertainment.
Jackson said he was amazed by the level of opportunities in Saudi Arabia.
He described Vision 2030 as incredibly ambitious, and indicated that this ambition is apparently being realized.
Jackson explained that the Future Investment Initiative conference provided opportunities for those who wish to invest in Saudi Arabia.
He negotiated with several local partners to establish relations with British investors and explore direct investment opportunities in the Kingdom, noting that it resulted in promising initial understandings that may yield results next year.
For his part, Abdullah bin Zaid al-Meleihi, head of the Saudi Excellence, told Asharq Al-Awsat that several investors, including Excellence, discussed with Ecclesian ways to establish an investment fund in the field of hospitality, green economy, and clean energy.
They discussed launching a partnership that includes planning for a chain of restaurants and bakeries in Saudi Arabia, specialized training centers, and scholarships for training in Britain.
Meleihi pointed out that his company intends to launch a partnership with the British company in food and hospitality services.
The Saudi market is attractive for investment, and new projects have provided a great opportunity in this field, he indicated, adding that the hospitality and entertainment sector in the Kingdom is estimated at $21 billion.
Riyadh launched the Saudi Green Initiatives and the Middle East Green Initiative, which affirms the Kingdom's pioneering role to bring about a qualitative shift internally and regionally towards climate change to build a better future and improve the quality of life.
The Kingdom seeks to provide innovative solutions that support the fight against climate change.
The Saudi Green Initiative will combine environmental protection, energy conversion, and sustainability programs to achieve three broad goals to build a sustainable future for all by reducing carbon emissions, afforestation of areas of the Kingdom, and protecting land and sea areas.
Riyadh is looking to invest $7 billion annually in solutions that reduce carbon emissions by the Oil and Gas Climate Initiative. More than 35 initiatives will be allocated to enhance energy efficiency throughout the Kingdom and reduce its consumption and waste.
