Interview: Promoting Investments in Saudi Arabia’s Natural Reserves

The Imam Turki bin Abdullah Reserve is one of six royal reserves in Saudi Arabia, established in 2018 by royal order. (Photo: SPA)
The Imam Turki bin Abdullah Reserve is one of six royal reserves in Saudi Arabia, established in 2018 by royal order. (Photo: SPA)
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Interview: Promoting Investments in Saudi Arabia’s Natural Reserves

The Imam Turki bin Abdullah Reserve is one of six royal reserves in Saudi Arabia, established in 2018 by royal order. (Photo: SPA)
The Imam Turki bin Abdullah Reserve is one of six royal reserves in Saudi Arabia, established in 2018 by royal order. (Photo: SPA)

Eng. Muhammad Alshaalan, CEO of the Imam Turki Bin Abdullah Royal Nature Reserve Development Authority, revealed efforts to engage the private sector in the protected areas, whether through hotels, rural lodges or sustainable hunting reserves.

He disclosed an agreement with the Ministry of Tourism and the Saudi Tourism Authority to attract investments in the sector.

In an interview with Asharq Al-Awsat, Alshaalan said that the Authority was seeking to create jobs for the local community and increase the contribution of small and medium-sized enterprises, in addition to activating eco-tourism in the Kingdom.

Asked about the Imam Turki bin Abdullah Reserve, he said: “It is one of six royal reserves in Saudi Arabia, established in 2018 by royal order. It is located in the northeastern part of the country on an area of 91,000 square kilometers. It has three main goals, mainly the preservation, development and diversification of wildlife.”

He added that around 80,000 to 100,000 people live in villages and deserts within the reserve.

“We seek to create jobs and training for the local community and increase the contribution of small and medium businesses,” he said.

The Authority aims to promote ecotourism in general, Alshaalan emphasized, noting that the reserve was home to beautiful sites, including the historic King Abdulaziz Palace in Linah, the ancient market, and Darb Zubaydah.

“These places attract local and foreign visitors, who are looking to explore historical and environmental areas of this kind,” he stated.

He noted that the Authority has established a center for houbara breeding, with the support and guidance of the Chairman of the Board of Directors, Prince Turki bin Muhammad bin Fahd.

He explained that the main objective was to conduct studies and research on this particular bird, especially the Asian Houbara, and on its reproduction and release in its natural habitats.

According to Alshaalan, the center aspires to create jobs for the local community and is mainly managed by the residents, with the aim to promote the development of the local economy, the use of surplus production for sustainable hunting, the activation of regulated hunting reserves, as well as attracting investors and those interested in the sector.

“The Prince Saud Al-Faisal Wildlife Center was established in the 1980s, followed by Al-Taysiyah Reserve… With the Saudi vision, environmental events have greatly accelerated...” he remarked.

The CEO of the Imam Turki Bin Abdullah Natural Reserve Development Authority noted that the Houbara bird was threatened with extinction, as a result of the destruction of natural habitats and other factors.

He explained: “In the first years, we will start in the center with a capacity of up to 1,000 productive birds; we mainly seek to train and prepare, so that we can take full advantage of this production, and then basically simulate nature, whether in the production process or feed.”

Alshaalan underlined the importance of preserving the genetic sequence and the environmental and natural characteristics of the bird.

Asked about plans to engage the private sector in the investments of the reserve, he said: “We have today a set of paths, whether in hotels, rural lodges, sustainable hunting reserves, or the Zubaydah trail activities and the activation of tourist areas. We have signed an agreement with the Ministry of Tourism and the Saudi Tourism Authority, aimed at attracting investors in the protected areas in general.”



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.