Global Alliance for Railway Project to Link Eastern and Western Saudi Arabia

Officials speak at a panel discussion on the sidelines of the Municipal Investment Forum on Tuesday (Yazid Al-Samrani)
Officials speak at a panel discussion on the sidelines of the Municipal Investment Forum on Tuesday (Yazid Al-Samrani)
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Global Alliance for Railway Project to Link Eastern and Western Saudi Arabia

Officials speak at a panel discussion on the sidelines of the Municipal Investment Forum on Tuesday (Yazid Al-Samrani)
Officials speak at a panel discussion on the sidelines of the Municipal Investment Forum on Tuesday (Yazid Al-Samrani)

Saudi Minister of Transport and Logistics Eng. Saleh Al-Jasser unveiled on Tuesday an international coalition led by a Chinese company, with 11 other international firms, to complete the design of the railway Landbridge Project that will connect the eastern and western parts of the Kingdom.

The minister pointed to the presence of 22 investment opportunities, including four regional airports, to be offered to the private sector.

He made his comments at the second edition of the Municipal Investment Forum (Furas), which was held in Riyadh and attended by a number of ministers and officials.

He noted that partnership and cooperation with the municipal and housing system, and the national strategy for transportation and logistics included investments exceeding 600 billion riyals ($160 billion).

Speaking during the same event, Majid Al-Hogail, Minister of Municipal and Rural Affairs and Housing, announced the adoption of the Municipal Investment Portal (Furas) as a unified national portal for offering real estate investment opportunities with Saudi government agencies.

Al-Hogail added that municipal investments were related to five programs of Vision 2030, including privatization, housing, quality of life, serving the guests of Rahman, and financial sustainability.

Eng. Khaled Al-Falih, Minister of Investment, talked about the distribution of investment opportunities according to the National Investment Strategy, which was estimated at 12.4 trillion riyals ($3.3 trillion).

He explained that 20 percent of investments went to the real estate sector at a value of 2.5 trillion riyals ($666 billion), while 14 percent for transportation and logistics services, at a value of 1.7 trillion riyals ($453 billion), followed by tourism (9 percent), with a value of 1.1 trillion riyals ($293 billion).

Bandar Alkhorayef, Minister of Industry and Mineral Resources, stated that the National Strategy for Industry enables Saudi Arabia to embrace advanced industries with high economic value, revealing efforts to increase the number of factories from 12,000 to 36,000 in the next stage.

On the sidelines of the event, Al-Hogail attended the signing of three agreements, including an executive program agreement for bilateral cooperation between his ministry and South Korea’s Ministry of Land, Infrastructure and Transport.

The forum featured more than 5,000 investment opportunities, suitable for all segments of investors, including entrepreneurs, owners of small and medium enterprises, and large investors in various economic activities across Saudi cities.



French MP: We Look Forward to Sustainable Cooperation with Saudi Arabia under Vision 2030

French MP Amélia Lakrafi. (Asharq Al-Awsat)
French MP Amélia Lakrafi. (Asharq Al-Awsat)
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French MP: We Look Forward to Sustainable Cooperation with Saudi Arabia under Vision 2030

French MP Amélia Lakrafi. (Asharq Al-Awsat)
French MP Amélia Lakrafi. (Asharq Al-Awsat)

As Saudi Arabia undergoes economic and social changes under its Vision 2030, attention is turning to strengthening strategic partnerships with France in areas such as innovation, technology and cybersecurity.

Amélia Lakrafi, a French member of parliament and representative for French nationals abroad, stressed the importance of Vision 2030 as a platform for long-term cooperation between the two nations.

Vision 2030 presents unique opportunities to boost economic ties between France and Saudi Arabia, she stressed.

She emphasized the need to support innovation and technology as key areas of collaboration.

To advance this partnership, she suggested empowering French-Saudi business councils and holding regular meetings for companies and experts to discuss legal and tax issues, such as setting up companies without a local partner.

She also proposed creating a unified platform to streamline information access for businesses and coordinate with entities like embassies and the “Business France” agency.

France should highlight the investment opportunities it offers to Saudi investors, ensuring quick and clear solutions to legal and procedural challenges, Lakrafi went on to say.

Innovation and AI

Innovation and technology are vital for future cooperation. Lakrafi noted that artificial intelligence (AI) and renewable energy are key areas for collaboration.

She explained that AI is a strategic priority for both France and Saudi Arabia, and French President Emmanuel Macron’s recent visit to Riyadh highlighted its potential.

Paris will host a global AI event in February, with Saudi Arabia as a partner guest, said the MP.

The event will help strengthen partnerships between institutions and businesses from both countries. She proposed creating competitive hubs in Saudi Arabia, similar to those in France, to bring together large companies, startups and researchers.

Boosting capital

Lakrafi stressed the importance of intangible capital, which includes branding, reputation and internal processes, for improving competitiveness.

“Intangible capital represents about 60% of a company's value,” she said. “Companies should invest in securing these assets, through trademark registration, enhanced cybersecurity, or better internal management.”

She called for the development of tools to measure intangible capital, which could help businesses build trust and attract investors and customers.

Cybersecurity

Given the rise in global cyber threats, Lakrafi called for stronger cooperation between France and Saudi Arabia in cybersecurity.

She underscored France’s expertise through institutions like the National Agency for the Security of Information Systems.

This collaboration could help Saudi Arabia develop shared cybersecurity standards, including rules to secure companies receiving government funding. She also warned that 80% of companies hit by major cyberattacks close within three years.

Lakrafi concluded by stressing that the cooperation between France and Saudi Arabia extends beyond economic ties, focusing on building cultural and social connections that support shared goals.

“Our relationship with Saudi Arabia goes beyond economics. We are building new links every day, whether between leaders, lawmakers, or citizens. I see a bright future for this partnership that will strengthen both countries’ global standing,” she remarked.