Executive Plan for Saudi Green Initiative to Be Revealed in November

Minister of Environment, Water and Agriculture Abdulrahman al-Fadhli speaks at the inauguration of the International Exhibition and Forum on Afforestation Technologies in Riyadh. (Asharq Al-Awsat)
Minister of Environment, Water and Agriculture Abdulrahman al-Fadhli speaks at the inauguration of the International Exhibition and Forum on Afforestation Technologies in Riyadh. (Asharq Al-Awsat)
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Executive Plan for Saudi Green Initiative to Be Revealed in November

Minister of Environment, Water and Agriculture Abdulrahman al-Fadhli speaks at the inauguration of the International Exhibition and Forum on Afforestation Technologies in Riyadh. (Asharq Al-Awsat)
Minister of Environment, Water and Agriculture Abdulrahman al-Fadhli speaks at the inauguration of the International Exhibition and Forum on Afforestation Technologies in Riyadh. (Asharq Al-Awsat)

Saudi Arabia will announce in November the complete strategic and executive plan for the Saudi Green Initiative, based on an alliance of companies, scientific, and research bodies with over 60 experts in soil, water, climate change, and desertification.

Environmental experts recommended supporting green initiatives that adopt sustainable afforestation projects and plant cover development to meet the challenges of desertification.

Under the patronage of Crown Prince Mohammed bin Salman, Minister of Environment, Water and Agriculture, Abdulrahman al-Fadhli inaugurated the International Exhibition and Forum on Afforestation Technologies at the Riyadh International Convention and Exhibition Center on Sunday.

The event is organized by the National Center for Vegetation Development and Combating Desertification in coordination and cooperation with the Ministry of Environment.

More than 80 exhibitors and 90 speakers from 20 countries and organizations worldwide will engage in 20 dialogue sessions and workshops discussing more than 50 scientific papers.

Participants called for boosting the cooperation between regional countries to achieve the desired effect of these projects and determine their proper framework to avoid the many conflicts within different experiences.

Ambitious initiative

Fadhli said the Kingdom is moving towards achieving a qualitative and unprecedented leap in the Middle East in environmental protection and vegetation development with ambitious local and regional initiatives.

"The impact of the initiatives will be reflected globally in reducing desertification and boosting biodiversity, and pushes towards a cleaner and more sustainable future, thus improving human quality of life and well-being," the minister said.

Challenges

CEO of the National Center for Vegetation Cover and Combating Desertification Khaled al-Abdulqader warned that biodiversity loss is a great challenge, adding that planting 10 billion trees will have environmental, social, and economic benefits.

Undersecretary of the Ministry of Environment, Water, and Agriculture Osama Fakiha confirmed that Saudi Arabia had made significant efforts to implement the afforestation program throughout the Kingdom.

He reviewed the Green Riyadh Project, which started with planting 7.5 million trees and launching the King Salman Park and Saudi Green Cities, with the aim to plant more than 30 million trees in gardens and parks across the Kingdom.

Environmental movement

Leader of the Saudi Green Studies Project Alliance Khaled al-Othman said environmental interaction has no boundaries because addressing its challenges is inseparable from the mutual ecological influences within the same region.

Othman added that Saudi Arabia is within a wide regional area that requires the adoption of a broad environmental and integrated movement as part of the approaches of the Saudi Green Initiative to stimulate regional and joint cooperation.

Speaking to Asharq Al-Awsat, he pointed out that the Saudi Green Initiative is the cornerstone of the Middle East Green Initiative, placing the Kingdom in a pioneering position in specialized studies and a leader in afforestation.

Executive strategy

Othman stated that an alliance of companies and scientific and research bodies is devising a plan based on the scientific foundations, environmental reality, challenges, resources, and capabilities.

The plan will be part of a strategic implementation framework to understand the current situation, collect data, and conduct the necessary surveys.

He revealed that over 60 scientists and experts in soil, water, climate change, and levels of desertification are working in cooperation with the National Center for Vegetation Cover and Combating Desertification.

Othman noted that the efforts would result in developing a comprehensive strategic plan and an execution plan to implement this ambitious project by defining the required financing programs, the roles of governmental and non-profit agencies, and the areas of scientific research.

The project will also determine the new technologies employed with its necessary implementation tools.

He called for exerting efforts within the framework of the comprehensive plan, rather than conflicting attempts, in plant growth and comprehensive environmental rehabilitation.

He announced that the preliminary results of the study would be announced in November, and the implementation tools will be identified, which will answer all questions about water sources and the quality, timing, and locations of crops.

Reality of the region

Director of Seismic Studies Center Professor Abdullah al-Omari said the region suffers from drought, desertification, and various environmental problems, making afforestation initiatives vital to reducing carbon emissions and global warming.

He told Asharq Al-Awsat that Saudi Arabia and the rest of the regional countries, given their vast area and the lack of rain, will face various obstacles, namely the scarcity of water resources.

Saudi Arabia has sought, through its multiple initiatives, to meet its needs, face challenges, and create solutions.

Omari reiterated the importance of the participation of different countries at the International Exhibition and Forum on Afforestation Technologies to achieve these initiatives, exchange experiences, and boost cooperation.

Water supply

He pointed out that water availability is essential for the plan, and solving the issue of water shortage ensures its success.

He recalled Saudi efforts in this field, noting that the Kingdom is a pioneer in desalination, artificial lakes, and rain seeding.

Saudi Arabia also constructed over 230 dams around the Kingdom, despite high temperatures and increased evaporation levels.

Riyadh continues efforts to face water waste and maintain renewable water resources, securing them for future generations, meeting possible increases in population density, and prioritizing the public interests.

Agreements and contracts

The National Center for Vegetation Cover and Combating Desertification signed an agreement with the King Abdulaziz Royal Reserve to plant one million trees in the reserve.

The agreement aims to boost the cooperation and integration to develop the vegetation cover within the reserve, increase its area, and protest its diversity.

The areas of cooperation include defining afforestation sites within the reserve, including the northern and southern al-Khafs and Noura parks.

The Center signed on the sidelines of the Forum three memoranda of understanding with the Saudi Basic Industries Corporation (SABIC), the Saudi Arabian Mining Company (Maaden), and the Rural Development Program (Reef).

The agreements aim to combat desertification within the areas of cooperation, including protecting and developing the vegetation cover and its sustainability, raising environmental awareness, and launching afforestation initiatives and projects, such as the project to plant 20 million trees by 2040.

NEOM target

NEOM launched its Regreening Initiative in collaboration with the National Center for Vegetation Cover and Combating Desertification.

NEOM CEO Engineer Nadhmi al-Nasr announced the project seeks to plant 100 million trees as part of the Saudi Green Initiative, stressing that NEOM will be the first region to rely entirely on solar and wind energy.

Nasr stressed that the partnership with the Ministry of Environment, Water, and Agriculture had come a long way, highlighting NEOM's commitment to the future industry, development sustainability, and keeping pace with future aspirations.

NEOM will start planting 100 million trees soon.

Nasr pointed out that NEOM, which occupies an area the size of an entire country, such as Belgium, will be a 95 percent natural area, as a result of continuous work and coordination with the Ministry of Environment and in light of many initiatives and scientific research.

It will also rehabilitate 1.5 million hectares of land and natural reserves and restore wildlife habitats.



Saudi Arabia Allows Contracting Exceptions for Firms without Regional HQ

The King Abdullah Financial District in Riyadh (Asharq Al-Awsat)
The King Abdullah Financial District in Riyadh (Asharq Al-Awsat)
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Saudi Arabia Allows Contracting Exceptions for Firms without Regional HQ

The King Abdullah Financial District in Riyadh (Asharq Al-Awsat)
The King Abdullah Financial District in Riyadh (Asharq Al-Awsat)

Saudi Arabia has introduced greater flexibility into its investment environment, allowing government entities, under strict controls to safeguard spending efficiency and ensure the delivery of critical projects, to seek exceptions to contract with international companies that do not have regional headquarters in the kingdom.

The Local Content and Government Procurement Authority notified all government bodies of the mechanism to apply for exemptions through the Etimad digital platform.

The step is designed to balance enforcement of the “regional headquarters relocation” decision, in force since early 2024, with the needs of technically specialized projects or those driven by intense price competition.

Under a government decision that took effect at the start of 2024, state entities, including authorities, institutions and government-affiliated funds, are barred from contracting with any foreign commercial company whose regional headquarters in the region is located outside Saudi Arabia.

According to the information, the Local Content and Government Procurement Authority informed all entities of the rules governing contracts with companies that lack a regional headquarters in the kingdom and related parties.

Government entities may request an exemption from the committee for specific projects, multiple projects or a defined time period, provided the application is submitted before launching a tender or initiating direct contracting procedures.

Submission mechanism

In two circulars, the authority detailed how to submit exemption requests and clarified the cases in which contracting is permitted under the controls. It said the exemption service was launched on the Etimad platform in November 2025.

The service is available to entities that float tenders through Etimad. Requests for tenders launched before the service went live, as well as those issued outside the platform, will continue to follow the previously adopted process.

Etimad is the kingdom’s official financial services portal run by the Ministry of Finance, aimed at driving digital transformation of government procedures and boosting transparency and efficiency in managing budgets, contracts, payments, tenders and procurement. The platform streamlines transactions between state entities and the private sector.

Technical criteria

When issuing the contracting controls, the government made clear that companies without a regional headquarters in Saudi Arabia, or related parties, are not barred from bidding for public tenders.

However, their offers can only be accepted in two cases: if there is no more than one technically compliant bid, or if the offer ranks among the best technically and is at least 25% lower in price than the second-best bid after overall evaluation.

Contracts with an estimated value of no more than 1 million riyals ($266,000) are also exempt. The minister may, in the public interest, amend the threshold, cancel the exemption or suspend it temporarily.

More than 700 headquarters

More than 700 multinational companies had relocated their regional headquarters to Riyadh by early 2026, exceeding the initial target of attracting 500 companies by 2030. The program seeks to cement the kingdom’s position as a regional business hub and to localize global expertise.

When announcing the contracting ban, Saudi Arabia said the move was intended to incentivize foreign firms dealing with the government and its affiliated entities to adjust their operations.

It aims to create jobs, curb economic leakage, raise spending efficiency and ensure that key goods and services procured by government entities are delivered inside the kingdom with appropriate local content.

The government said the policy aligns with the objectives of the Riyadh 2030 strategy unveiled during the recent Future Investment Initiative forum, where 24 multinational companies announced plans to move their regional headquarters to the Saudi capital.

It stressed that the decision does not affect any investor’s ability to enter the Saudi economy or continue working with the private sector.

 


IMF Board to Review Staff-level $8.1 Bln Agreement for Ukraine

The city's downtown on a frosty winter day, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 19, 2026. REUTERS/Alina Smutko
The city's downtown on a frosty winter day, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 19, 2026. REUTERS/Alina Smutko
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IMF Board to Review Staff-level $8.1 Bln Agreement for Ukraine

The city's downtown on a frosty winter day, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 19, 2026. REUTERS/Alina Smutko
The city's downtown on a frosty winter day, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 19, 2026. REUTERS/Alina Smutko

The International Monetary Fund on Thursday said its board ​would review a staff-level agreement for a new $8.1 billion lending program for Ukraine in coming days.

IMF spokeswoman Jule Kozack told reporters that Ukrainian authorities had completed the prior actions needed to move forward with the request ⁠of a new ⁠IMF program, including submission of a draft law on the labor code and adoption of a budget.

She said Ukraine's economic growth in 2025 ⁠was likely under 2%. After four years of war, the country's economy had settled into a slower growth path with larger fiscal and current account balances, she said, noting that the IMF continues to monitor the situation closely.

"Russia's invasion continues to take a ⁠heavy ⁠toll on Ukraine's people and its economy," Kozack said. Intensified aerial attacks by Russia had damaged critical energy and logistics infrastructure, causing disruptions to economic activity, Reuters quoted her as saying.

As of January, she said, 5 million Ukrainian refugees remained in Europe and 3.7 million Ukrainians were displaced inside the country.


US Stocks Fall as Iran Angst Lifts Oil Prices

A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
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US Stocks Fall as Iran Angst Lifts Oil Prices

A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid
A screen displays a stock chart at a work station on the floor of the New York Stock Exchange (NYSE) in New York City, US, April 6, 2022. REUTERS/Brendan McDermid

Wall Street stocks retreated early Thursday as worries over US-Iran tensions lifted oil prices while markets digested mixed results from Walmart.

US oil futures rose to a six-month high as Iran's atomic energy chief Mohammad Eslami said no country can deprive the Islamic republic of its right to nuclear enrichment, after US President Donald Trump again hinted at military action following talks in Geneva.

"We'd call this an undercurrent of concern that is bubbling up in oil prices," Briefing.com analyst Patrick O'Hare said of the "geopolitical angst."

About 10 minutes into trading, the Dow Jones Industrial Average was down 0.6 percent at 49,379.46, AFP reported.

The broad-based S&P 500 fell 0.5 percent to 6,849.35, while the tech-rich Nasdaq Composite Index declined 0.6 percent to 22,621.38.

Among individual companies, Walmart rose 1.7 percent after reporting solid results but offering forecasts that missed analyst expectations.

Shares of the retail giant initially fell, but pushed higher after Walmart executives talked up artificial intelligence investments on a conference call with analysts.

The US trade deficit in goods expanded to a new record in 2025, government data showed, despite sweeping tariffs that Trump imposed during his first year back in the White House.