Expo 2020 to Boost Construction, Transportation in UAE

Aerial view of Expo 2020 Dubai (Expo website)
Aerial view of Expo 2020 Dubai (Expo website)
TT

Expo 2020 to Boost Construction, Transportation in UAE

Aerial view of Expo 2020 Dubai (Expo website)
Aerial view of Expo 2020 Dubai (Expo website)

UAE's bid to host Expo2020 is a historic achievement, which, along with UAE’s Vision 2021 launched by Vice President and Ruler of Dubai Sheikh Mohammed Bin Rashid Al Maktoum, means that the construction and infrastructure sectors have won a significant share of investments.

At the level of Gulf countries, UAE’s share of oil exports in the country’s gross domestic product (gdp) dropped 21 percent to second place after Saudi Arabia, according to a study by Bloomberg.

The efforts to diversify economic resources in response to UN Sustainable Developments Goals 2030 and UAE Vision 2021 are the primary incentives for this transformation.

Vision 2021 includes priorities of creating a competitive, knowledge and innovation-based economy, a sustainable environment, and integrated infrastructure to create opportunities for enhanced innovation and restructuring in construction.

Emirates Water and Electricity Company (EWEC), the sole procurer of water and electricity within Abu Dhabi, has issued a tender for the construction and development of a new 2,000 MW solar photovoltaic (PV) power project to be located at al-Dhafra, Abu Dhabi.

Expo2020 Dubai launched a series of construction projects worth about $238 billion which are scheduled to be completed by October, a year before the launch of the Expo.

These projects have helped regional and international companies operating in the UAE achieve growth rates of more than 10 percent, which Bloomberg sees as a unique opportunity for these companies.

The global event hosts individual projects from some 170 countries, all of which require a high level of experience in the areas of design, implementation, and innovation, which increases construction requirements and challenges time constraints.

In total, UAE accounts for about 52 percent of the construction projects in GCC member states, and by the end of 2017, there were 11,755 projects in the country worth $818 billion, representing 33.6 percent of the $2.43 trillion total construction projects in the GCC.

In 2018, UAE and Saudi Arabia accounted for about two-thirds of the total construction projects among GCC countries at a cost of $1.61 billion, Bloomberg reported.

Roads and Transport Authority (RTA) in Dubai announced tunneling works of Route 2020 Project, which takes the Dubai Metro to the Expo 2020 venue, was completed on June 30.

Bloomberg believes when UAE joins projects of China's “Belt and Road Initiative,” strong cooperation between Dubai and Beijing will help provide financial support for infrastructure projects.

Trade between China and the UAE is well established, with trade volume reaching $60 billion in 2017.

Expo2020 Dubai is the first international expo in the Middle East, Africa, and South Asia and is expected to attract more than 25 million visitors, 70 percent of whom are from outside the UAE.

Expo 2020 Dubai will be held over a period of six months, from October 20, 2020 to April 10, 2021 with more than 200 participants from countries, international organizations and companies, and educational institutions.



Saudi Fund to Speed Syria Recovery with Up to $1.5 Bln Financing

Delegation from the Saudi Fund for Development meets Syrian Finance Minister Mohammed Yisr Barnieh (Syrian Finance Ministry)
Delegation from the Saudi Fund for Development meets Syrian Finance Minister Mohammed Yisr Barnieh (Syrian Finance Ministry)
TT

Saudi Fund to Speed Syria Recovery with Up to $1.5 Bln Financing

Delegation from the Saudi Fund for Development meets Syrian Finance Minister Mohammed Yisr Barnieh (Syrian Finance Ministry)
Delegation from the Saudi Fund for Development meets Syrian Finance Minister Mohammed Yisr Barnieh (Syrian Finance Ministry)

A delegation from the Saudi Fund for Development, headed by its chief executive Sultan bin Abdulrahman Al-Marshad, discussed proposed priority projects in Syria’s electricity and water sectors with Syrian Energy Minister Mohammed al-Bashir and other ministry officials.

Four projects worth $250 million were presented, part of a broader list of projects across various sectors to be financed by the fund in phases, with total funding potentially reaching $1.5 billion.

Al-Marshad told Asharq Al-Awsat that development agreements to finance priority projects in vital sectors would be signed with the Syrian government “soon.”

The talks are part of a three-day visit to Syria that began on Tuesday, during which the delegation is holding meetings with several ministers and heads of public bodies to discuss priority development projects and the fund’s contribution to economic and social development in Syria, as well as support for stability.

The delegation began its meetings on Wednesday with a visit to the headquarters of the Energy Ministry in Damascus. According to a ministry statement, discussions focused on priority projects proposed in the electricity and water sectors, as part of coordination to identify areas that could be supported in the next phase.

The delegation later held an expanded meeting with Energy Ministry aides, including Ibrahim al-Adhan, for planning and institutional excellence, and with Osama Abu Zeid for water resources, attended by officials from the electricity, water, and sanitation sectors.

During the meeting, a package of service and development projects was reviewed to determine the ministry’s priorities ahead of moving to subsequent coordination and implementation stages.

The proposed projects include maintenance of the Aleppo thermal power plant to restore it to full production capacity, the supply and installation of prepaid smart water meters for institutions across all provinces, a project to convey Euphrates water from Deir el-Zor in eastern Syria to the Tadmor and Hasiya areas in Homs province, and an irrigation project for the plains of al-Bab and Tadef in northern Aleppo countryside, aimed at improving water resources and supporting the agricultural sector.

The ministry stated that the visit is part of efforts to define its requirements, noting that a subsequent meeting will be held with the Ministry of Finance to finalize coordination and select the priority projects to be supported.

In a separate statement to Asharq Al-Awsat, Al-Marshad said the visit aims to explore opportunities for development cooperation between the Saudi Fund for Development and Syria across various sectors. He said discussions are focused on financing priority projects and supporting economic and social development in Syria.

Al-Marshad said development agreements with the Syrian government to finance priority projects in vital sectors would be signed in the near future.

For his part, Energy Ministry aide for water resources Osama Abu Zeid told Asharq Al-Awsat that the proposed projects are “important and urgent to achieve early recovery and improve services for the Syrian people.”

He stated that the rehabilitation of the al-Bab and Tadef irrigation project would irrigate more than 6,600 hectares, while rehabilitating the Aleppo thermal power plant would increase electricity generation capacity by up to 600 kilowatts.

He said the rehabilitation of water stations in villages and towns destroyed during the war includes restoring 157 stations, while the supply of prepaid smart water meters would help rationalize consumption and improve water services.

Abu Zeid stated that the total value of the projects amounts to $250 million, noting that there has been positive engagement from the Saudi Fund for Development, and that funding is expected to be approved soon after the administrative procedures are completed.

The Saudi Fund for Development delegation, led by Al-Marshad, also met Syrian Finance Minister Mohammed Yisr Barnieh on Tuesday to discuss the provision of concessional financing with a high grant component to support government projects in vital sectors.

In a post on LinkedIn, Barnieh expressed hope that an agreement would be reached by the end of the visit on a list of projects to be financed in phases, with a total value potentially reaching $1.5 billion.

According to Barnieh, the projects primarily focus on the health and education sectors through the rehabilitation and equipping of hospitals and schools, as well as projects in the energy and water sectors, including electricity substations and water treatment facilities, alongside housing, disaster management, and telecommunications projects.

The projects also include financing support for a large number of micro, small, and medium-sized enterprises, helping to create productive job opportunities in several development areas.

Barnieh said he presented an initial overview outlining needs and proposed projects, prepared in cooperation with several ministries, governorates, authorities, and institutions, within the framework of a workshop organized by the Finance Ministry earlier this week in support of the “Syria Without Camps” initiative.

The Saudi Fund for Development delegation also met with Health Minister Musaab al-Ali to discuss financing and support for vital health projects within the ministry’s 2026-2028 plan, as well as with Education Minister Mohammed Abdulrahman Turko to discuss enhancing cooperation in education and improving the educational process in Syria.

The fund stated on Tuesday that the visit highlights the importance of development cooperation between the two sides in supporting the sustainable development goals and development initiatives in Syria.

Since its establishment in 1974, the fund has contributed to development projects in over 100 developing countries, financing more than 800 projects and programs worth over $22 billion.

Saudi Arabia has continued to provide extensive support to Syria across multiple sectors following the ouster of former president Bashar al-Assad on Dec. 8, 2024.

Mohammed Hamza, head of the Syrian General Authority for Exhibitions and International Markets, said during his participation as guest of honor at the “Made in Saudi Arabia” exhibition held from Dec. 15 to 17 that Saudi investments in Syria exceeded $6.6 billion in 2025 across various sectors.


Saudi Minerals Program Accelerates Unlocking Trillions Beneath the Desert

Saudi Arabia maps mining exploration zones (Asharq Al-Awsat)
Saudi Arabia maps mining exploration zones (Asharq Al-Awsat)
TT

Saudi Minerals Program Accelerates Unlocking Trillions Beneath the Desert

Saudi Arabia maps mining exploration zones (Asharq Al-Awsat)
Saudi Arabia maps mining exploration zones (Asharq Al-Awsat)

Economic experts said the Saudi Cabinet’s approval of the draft rules and procedures governing the National Minerals Program marks a decisive step that will accelerate the development of the Kingdom’s vast mineral resources, estimated at around 9 trillion riyals, or $2.4 trillion.

They said the move firmly positions mining as the third pillar of national industry and a key engine of non-oil growth.

Khalid Al-Mudayfer, Deputy Minister of Industry and Mineral Resources for Mining Affairs, said the approval builds on sustained government support for the mining and minerals industries. He said the program will act as a primary enabler to ensure sufficient current and future mineral supplies and to address gaps across value chains.

The regulatory push comes as economic circles look ahead to the fifth edition of the International Mining Conference, set to take place in Riyadh from Jan. 13 to 15, 2026, under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz.

The event is expected to generate exceptional momentum, with around 150 memorandums of understanding and strategic agreements anticipated, alongside participation from more than 200 exhibitors and sponsors.

From regulation to strategic planning

Mohammed Al-Duleim, chairman of the National Mining Committee at the Federation of Saudi Chambers, told Asharq Al-Awsat that the Cabinet’s approval reflects the government’s determination to build a strong, well-regulated and sustainable mining sector capable of matching the ambitions of the Saudi economy at this stage.

He said the decision represents a qualitative shift in a sector that has become part of strategic economic activities linked to industry and several other sectors, making a positive contribution to non-oil growth.

Al-Duleim said the timing of the program is critical, as global competition for minerals intensifies, echoing earlier competition for oil. He said the Kingdom has moved early from a focus on regulation and governance toward forward planning and long term sustainability.

He added that the program guarantees the timely availability of mineral supplies at stable prices, offering investors a high degree of clarity and helping to manage risks. He said Saudi Arabia has now emerged as a global minerals hub, driven by the outcomes of the International Mining Conference and a successful partnership between the public and private sectors.

Strong domestic demand underpins the new program, which centers on securing mineral needs on time and at stable prices, Al-Duleim said.

The Cabinet decision, he added, enhances transparency and confidence for investors and reinforces the state’s comprehensive approach to managing the sector, from planning to value maximization, in line with Vision 2030 targets.

He said the Kingdom’s status as a global minerals center has been reinforced by mega projects and by the government’s success in building public private partnerships, positioning Saudi Arabia as a major international destination through the annual International Mining Conference in Riyadh.

Unifying procedures

Economist Ahmed Al-Shahri told Asharq Al-Awsat that the new program represents a regulatory step aimed at strengthening governance of the sector and improving management mechanisms.

He said it supports exploration and development of mineral resources valued at more than 9 trillion riyals, or $2.4 trillion.

He said the National Minerals Program provides a government framework that organizes the sector and defines coordination mechanisms among relevant authorities, adding that Cabinet approval will lead to unified procedures and faster licensing.

Al-Shahri stated that the program aims to transform mining into a key economic pillar, aligning with government objectives, while also attracting both domestic and foreign investment. He said it also focuses on maximizing local value added from mineral resources.

He said the decision reflects a structured, long term approach to developing the minerals sector, strengthening exploration, environmental governance and sustainability.

In conclusion, the National Minerals Program stands as a key mechanism to enhance the efficiency of developing Saudi Arabia’s mineral wealth, combining strict governance with flexible planning.

Analysts said this approach will help channel the necessary investment to deliver significant gains in the sector’s contribution to the country's gross domestic product in the coming years.


Saudi Arabia Continues to Excel, Achieves Second-Highest Growth Rate in Tonnage in G20

A night view of Riyadh, Saudi Arabia. (Reuters file)
A night view of Riyadh, Saudi Arabia. (Reuters file)
TT

Saudi Arabia Continues to Excel, Achieves Second-Highest Growth Rate in Tonnage in G20

A night view of Riyadh, Saudi Arabia. (Reuters file)
A night view of Riyadh, Saudi Arabia. (Reuters file)

Saudi Arabia marked a significant milestone in the maritime transport sector in 2025, with its national fleet recording a 32% growth rate compared to 2024.

The achievement secures Saudi Arabia the second-highest growth rate globally among G20 nations.

The rapid growth reflects the continuous development of the Kingdom’s maritime sector, driven by strategic regulatory initiatives, increased investment, modernized legislative frameworks, and the enhanced efficiency of national fleets.

The performance marks a substantial leap from the 6.4% growth rate recorded at the beginning of 2024, highlighting the sector's accelerating year-on-year progress.

The Transport General Authority (TGA) stated that the achievement aligns with the National Transport and Logistics Strategy, which aims to position the Kingdom as a global logistics hub, and focuses on strengthening the maritime sector’s role in supporting supply chains, boosting the national economy, and boosting the efficiency of international trade flows through Saudi ports.

The progress underscores the Kingdom’s commitment to developing a maritime ecosystem consistent with global best practices, ensuring sustainability, and consolidating its strategic position among leading nations in the field, it added.