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Saudi Arabia Signs 3 MoUs to Develop Local Water Valve Industry

The Saudi National Water Strategy 2030 aims to address major challenges by benefitting from previous and ongoing studies. Asharq Al-Awsat
The Saudi National Water Strategy 2030 aims to address major challenges by benefitting from previous and ongoing studies. Asharq Al-Awsat
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Saudi Arabia Signs 3 MoUs to Develop Local Water Valve Industry

The Saudi National Water Strategy 2030 aims to address major challenges by benefitting from previous and ongoing studies. Asharq Al-Awsat
The Saudi National Water Strategy 2030 aims to address major challenges by benefitting from previous and ongoing studies. Asharq Al-Awsat

As part of Saudi Arabia’s endeavor to support, strengthen and develop the local industry for the production of water valves, the National Water Company (NWC) concluded on Tuesday MoUs with three national companies, namely Saudi Amicon, Saudi Pipe Systems (SPS) and the AVK Saudi Valve Manufacturing Company.

The MoUs were signed by Eng. Nemer Alshebl, CEO-designate of the National Water Company, with Firas Al-Harbi, CEO of Amicon Saudi Arabia Ltd., Mohammed Al-Enezi, General Manager of the Saudi Pipe Systems Factory Ltd., and Mads Helge, General Manager of the AVK Saudi Valves Manufacturing Company Ltd.

Alshebl said that the MoUs concluded with the three companies would contribute to strengthening the local content, supporting the national industry of water valves, and raising quality efficiency, in accordance with the company's standards and procedures.

He added that the agreements came in line with the national water strategic directions, which give priority to national factories to meet the company’s needs, project components, and supply chains, in a way that benefits the national economy through local goods, assets and technology.

The Saudi National Water Strategy 2030 aims to address major challenges by benefitting from previous and ongoing studies, and to reform the water and sanitation sector by ensuring the sustainable development of resources in the Kingdom, while providing high quality services at reasonable prices.

Meanwhile, representatives from the Saline Water Conversion Corporation (SWCC), participated in the Cairo International Water Week, where they presented the Corporation’s innovative solutions for resource sustainability and environmental security, as well as recent initiatives to shift to clean energy and green hydrogen.

SWCC representatives also highlighted the importance of green hydrogen as an essential element in any de-carbonization strategy, which they said would become competitive in terms of cost by mid-2030, according to official international indicators.

SWCC revealed that the demand for green hydrogen was expected to witness a rapid increase, to reach 21% of the world’s total final energy consumption by 2050.

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Saudi Commerce Minister Heads Delegation to Discuss Emerging Trends in Digital Trade Law in Austria

Saudi Minister of Commerce Majid Al-Kassabi speaks at the workshop in Vienna. (SPA)
Saudi Minister of Commerce Majid Al-Kassabi speaks at the workshop in Vienna. (SPA)
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Saudi Commerce Minister Heads Delegation to Discuss Emerging Trends in Digital Trade Law in Austria

Saudi Minister of Commerce Majid Al-Kassabi speaks at the workshop in Vienna. (SPA)
Saudi Minister of Commerce Majid Al-Kassabi speaks at the workshop in Vienna. (SPA)

Saudi Minister of Commerce and National Competitiveness Center (NCC) Chairman of the Board of Directors Majid Al-Kassabi participated in the high-level workshop, "Emerging Trends in Digital Trade Law," in Vienna.

The event was organized by the NCC in cooperation with the United Nations Commission on International Trade Law (UNCITRAL).

Al-Kassabi headed a delegation of 32 officials representing 20 government entities who participated in the workshop sessions held on Thursday and Friday. The workshop was also attended by Saudi ambassador to Austria Dr. Abdullah bin Khalid Tawlah and UNCITRAL Secretary-General Anna Joubin-Bret.

During the opening session, Al-Kassabi said the growing global adoption of digitization has transformed trade, making it more efficient, reliable, and transparent. He emphasized that leveraging advanced and emerging technologies has reshaped local and international trade as well as consumer behavior, noting that Saudi Arabia is keeping pace with the trend through economic reforms.

Joubin-Bret noted that digital trade plays a pivotal role in shaping the international trade landscape, explaining that UNCITRAL and its partners, including Saudi Arabia, are working to establish international trade laws that support digital trade. She also the need for member states to collaborate on laws that bolster the digital economy.

In the first working session, Global Alliance for Trade Facilitation Deputy Director José Raúl Perale discussed the latest developments in global digital trade law and comprehensive trade digitization.

The participants in the workshop included the Ministries of Commerce, Justice, Finance, Economy and Planning, Industry and Mineral Resources, Energy, Foreign Affairs, and Education; the General Authority for Foreign Trade; the Zakat, Tax, and Customs Authority; the Capital Market Authority; the Small and Medium Enterprises General Authority; the Saudi Authority for Data and Artificial Intelligence; the Bureau of Experts at the Council of Ministers; the Saudi Central Bank (SAMA); the Board of Grievances; the National Competitiveness Center; and the Bankruptcy Commission.