Saudi Launches 200 Projects in 74 Countries to Support Kingdom’s Non-Oil Exports

Saudi Arabia pushes for national products to reach global markets (Asharq Al-Awsat)
Saudi Arabia pushes for national products to reach global markets (Asharq Al-Awsat)
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Saudi Launches 200 Projects in 74 Countries to Support Kingdom’s Non-Oil Exports

Saudi Arabia pushes for national products to reach global markets (Asharq Al-Awsat)
Saudi Arabia pushes for national products to reach global markets (Asharq Al-Awsat)

More than 200 projects were launched in 74 countries to support the export of Saudi national products, revealed a recent report that monitored the level of achievements of the Kingdom's Vision 2030 in 2021.

The projects come within the framework of supporting Saudi products’ access to international markets, the report added.

Empowering local content and national industries in all fields and upgrading their quality are among the priorities of Saudi Vision 2030, which looks to raise the contribution of non-oil exports to the Kingdom’s non-oil GDP to about 50% by 2030.

The report, which Asharq Al-Awsat viewed a copy of, revealed several achievements related to achieving a diversified economy and enhancing local content.

For example, the “Saudi Made” program managed to attract more than 1,100 local companies, with more than 4,500 products in 16 diversified sectors.

“Saudi Made” offers a large package of advantages and opportunities for companies, expands the scope of their work and helps them to promote their services and products locally and globally and direct purchasing power towards them after adhering to the quality and standards specified in the program.

In the military sector, according to the report, the Saudi Council of Ministers approved the strategy of the military industries sector in the Kingdom.

The strategy aims to develop national industrial capabilities in the military field, support investors, transfer technology, and provide job opportunities for the country’s young men and women, as the total number of licensed companies in the military sector reached 144 by the end of 2021.

Moreover, as part of the strenuous efforts to diversify the economy and localize industries, Saudi Arabia launched the National Strategy for Transport and Logistics Services.

The strategy includes a wide range of major projects and ambitious initiatives that will push the sector's services to advanced levels regionally and internationally to support sustainable development in all regions of the Kingdom.



Lebanon Extends Deadline for Licensing Round for Offshore Oil, Gas Fields

A motorbike drives past buildings destroyed during previous Israeli military fire on the southern Lebanese village of Aita al-Shaab, near the border with northern Israel on June 29, 2024, amid ongoing cross-border clashes between Israeli troops and Hezbollah fighters. (Photo by AFP)
A motorbike drives past buildings destroyed during previous Israeli military fire on the southern Lebanese village of Aita al-Shaab, near the border with northern Israel on June 29, 2024, amid ongoing cross-border clashes between Israeli troops and Hezbollah fighters. (Photo by AFP)
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Lebanon Extends Deadline for Licensing Round for Offshore Oil, Gas Fields

A motorbike drives past buildings destroyed during previous Israeli military fire on the southern Lebanese village of Aita al-Shaab, near the border with northern Israel on June 29, 2024, amid ongoing cross-border clashes between Israeli troops and Hezbollah fighters. (Photo by AFP)
A motorbike drives past buildings destroyed during previous Israeli military fire on the southern Lebanese village of Aita al-Shaab, near the border with northern Israel on June 29, 2024, amid ongoing cross-border clashes between Israeli troops and Hezbollah fighters. (Photo by AFP)

Lebanon's energy ministry has extended a deadline for companies to bid for exploration rights for offshore oil and gas fields in its third licensing round until March next year, the Lebanese Petroleum Administration said on Monday.

The government originally set a deadline of July 3, 2024 for bidding in the licensing round for nine maritime blocks, which was launched in January.

The Lebanese Petroleum Administration said the deadline had been extended to March 17, 2025 to provide enough time to monitor "accelerating regional and international developments," find ways of attracting more interest from companies and "work towards achieving economic stability."

The statement did not mention the ongoing hostilities between the Israeli military and Hezbollah, which have been trading fire for more than eight months in parallel with the Gaza war.

An industry source told Reuters that the exchanges of fire had been a major factor in the decision to extend the deadline.

Lebanon has extended previous licensing rounds repeatedly, in some cases because there had been no applications.

Lebanon formally delineated its maritime border with Israel in October 2022 after years of US-mediated talks. It had hoped this would pave the way for an influx of bids for oil and gas exploration in its waters.

But the recent border conflict has resurrected fears that a full-scale war could break out, and Hezbollah chief Hassan Nasrallah made threats about the Mediterranean in a recent speech.