Tourexpi
Projects
within the scope of the Vision 2030 plan announced by the Saudi Arabian
government open new investment windows for Turkish businesspeople.
With
the plan, Saudi Arabia is preparing to transform the country socially,
culturally and economically and make it a center of attraction for the region.
The
Vision 2030 initiative, which was announced by the Saudi government on April
25, 2016, includes mega city projects such as Neom, infrastructure work, the
construction of projects arising from global events such as the World Cup and
the 2029 Asian Winter Games to be held in Saudi Arabia, and the construction of
health, education and public services.
The
economic development plan, worth from $500 billion to $1 trillion, aims to
transform the country in many fields.
The
National Center for Privatization (NCP), which was established in 2017,
continues its activities to attract local and international private sector
potential to Saudi Arabia to improve public infrastructure and services and
contribute to sustainable development.
Turkish
companies also visited the capital Riyadh on Tuesday in order to get a share of
these large investments.
Within
the scope of the visit, in cooperation with the NCP, Turkish companies aim to
make contacts to become partners in the investment potential in the region.
Turkish
companies will hold meetings organized through the NCP with senior officials
from Saudi Arabia's ministries of Investment; Environment, Water and
Agriculture; Transportation, and Health.
Senior
officials of the ministries will explain the projects to be realized in these
areas to Turkish companies and mutual evaluations and bilateral meetings will
be held.
Turkish
companies will also hold contacts with Saudi banks regarding the financing of
the investments to be realized.
At
the same time, bilateral meetings and exchanges of ideas will be organized with
global companies from Canada, the US and the UK, which have done business in
the country, to create the basis for future partnerships with Turkish
companies.
Turkish
firms can build strong partnerships
Cuneyt
Saricimen, Saudi Arabia advisor at Türkiye's Investment Office, told Anadolu
that Türkiye is strong in the construction sector and has around 10 resident
companies in Saudi Arabia.
Emphasizing
that Türkiye has a strong presence in Saudi Arabia in the defense industry, he
noted that Turkish defense giant Aselsan is already present there, and defense
firms Roketsan and Baykar and IT firm CTech continue their initiatives in the
region.
He
said they encourage Turkish firms to work in the private sector by establishing
partnerships with Saudi Arabian companies and asked large and maneuverable
Turkish companies to continue their strong partnerships in Saudi Arabia.
Saricimen
said that Turkish medicine producer Abdi Ibrahim established a partnership in
the field of pharmaceuticals in the country a couple of months ago, adding that
the company will have initiatives in Jeddah.
Automotive,
construction sectors offer opportunities
Saricimen
said there are opportunities at various levels in many sectors in Saudi Arabia
and that Türkiye can use its experience in the automotive industry in the
country.
He
said that Türkiye aims to increase its presence in the Saudi Arabian market by
enabling Turkish companies to establish partnerships in the country, adding the
Saudi government has very strong incentives in this direction and is trying to
ensure equality between local and foreign companies in competition.
He
emphasized that there is a “very big cake” for investments in the country and
noted that Saudi Arabia aims to attract approximately $3 trillion worth of
investment within the framework of Vision 2030.
“We
see in every way that they prioritize their desire to work with Türkiye, both
in the state and the private sector," he said.
Saying
that Turkish companies received approximately $3 billion worth of tenders from
Saudi Arabia in 2023 and this is expected to increase, he underlined that
Turkish companies can be involved in mass housing, airport, hospital and school
construction projects.
Vision
2030
Many
projects will be implemented in 13 regions under the Vision 2030 plan in Saudi
Arabia.
Investors
and companies will be encouraged to set up businesses and create jobs in
various fields to improve the quality of life and accelerate economic
development in 12 cities in Saudi Arabia.
Wind
farms and solar panels in the northern city of Al-Jawf are part of a plan to
convert 50% of the country's overall energy sources to renewable energy by
2030.
The
Low Power Research Reactor Project, which will contribute to the development of
the nuclear energy industry in Saudi Arabia, will enable the development of
nuclear sciences.
The
King Salman Energy Park in the east of the country will provide a major
breakthrough in the energy sector and encourage the use of clean energy
technologies.
The
AlKhafji Desalination Plant is known as the world's largest solar-powered
desalination project that meets the region's water needs in an innovative and
sustainable way. The plant has the capacity to produce up to 90,000 cubic
meters of fresh water per day.
Five
special economic zones are planned to be established in the country to attract
investors to Saudi Arabia.
The
project, which will support the country's competitiveness, will provide
employment by strengthening industrial development and economic growth.
The
Qiddiya City project aims to transform the region into a global entertainment,
sports and cultural center. It will include international sports venues,
concert and entertainment venues, and sports and arts academies.
The
city of Diriyah, located northwest of the capital Riyadh, will become a unique
center for sightseeing, living, business and shopping with a development
project worth around $62 billion.
The
Mohammed Bin Salman Non-Profit City is designed as an unprecedented city. The
city, also called “Misk City,” will include offices, educational institutions
and arts and sports facilities as well as residential areas and hotels.
Culture
and art
The
Riyadh Art initiative aims to transform Saudi Arabia's capital into an art
gallery without walls, contributing to city life and boosting the economy.
As
part of the New Murabba project, a new district of Riyadh city will be built on
19 square kilometers (7.33 square miles). The architectural structure called
Mukaab, located in the center of the city, will become a cultural and tourist
attraction.
The
King Salman Park Project, launched in 2019, will build the world's largest
urban park with gardens to be organized in Islamic style, including an area
with birds and butterflies.
The
Green Riyadh project aims to transform Riyadh into a “green oasis” and one of
the top 100 livable cities in the world by 2030. The city will have 7.5 million
trees.
Within
the scope of the project called NEOM, sustainable life will be encouraged by
prioritizing the meeting of humans and nature.
The
futuristic city called “The Line,” which will be built on an area of
approximately 30 square kilometers (11.5 square miles) will be designed in
accordance with the smart city concept based on renewable energy.
The
Trojena Mountains in the same region will revitalize sustainable mountaineering
tourism and Sindalah Island, which serves as a gateway to the Red Sea, is
designed as a luxury destination for tourists.
Oxagon,
which is planned to be a floating port city on the shores of the Red Sea, will
have an integrated logistics center and advanced manufacturing facilities.
The
city project, dubbed Rua Al Madinah will transform Medina into a modern
cultural destination. The project aims to increase the city's capacity to host
pilgrims to 30 million by 2030.
The
Masjid Quba project will include the expansion of the existing mosque as well
as the development and restoration of 57 historical sites.
For
the Al-Ula project, Saudi Arabia's first UNESCO World Heritage site, will
include initiatives in the fields of archaeology, tourism, culture, education
and the arts to help open up this remarkable region to the world and preserve
its outstanding natural and historical character.
Sustainable
living
The
Rabigh Desalination Plant, the construction of which started in 2017,
contributes to the consumption of tap water and leads the fight against water
scarcity.
The
country's first electric vehicle brand Ceer is preparing to bring a new
industry to the country that will attract international and local investments,
create local job opportunities and contribute to Saudi Arabia's economic
growth.
The
housing project ROSHN was launched in 2020 with the aim of 70% of the country
becoming homeowners by 2030. The project is expected to contribute positively
to the real estate and infrastructure sectors.
The
project for the Jeddah Historic District, a UNESCO World Heritage Site, aims to
renovate the historic center of Jeddah and turn it into a cultural and artistic
center.
Created
for the development of Soudah, a mountainous area in the Asir region of Saudi
Arabia, the project aims to preserve the region's unique cultural heritage,
integrate adventure and cultural tourism, and contribute economically to the
local community.
The
Soudah Hills project is designed to reflect local traditional architectural
styles and promote both the cultural and landscape heritage of the region.
The
project will offer 2,700 accommodation facilities, 1,336 residential units and
80,000 square meters (861,112 square feet) of commercial space by 2033.
Image
Credit: © AA
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