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Gulf Press > Gulf News > British Businessmen to Invest in Energy and Infrastructure in Saudi Arabia
Gulf News

British Businessmen to Invest in Energy and Infrastructure in Saudi Arabia

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Last updated: 2024/06/25 at 2:52 PM
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British investors are showing interest in investing in renewable energy and sustainable infrastructure projects in Saudi Arabia. This aligns with the goals of Saudi Vision 2030, which aims to utilize renewable and green energy in order to protect and sustain the environment. The British-Saudi Sustainable Infrastructure Summit, organized by the Saudi-British Business Council in London, brought together over 250 policymakers, industry leaders, and representatives from both countries to discuss opportunities in key Saudi projects such as “NEOM,” “Qiddiya,” “Red Sea,” “Roshan,” and “Diriyah.”

During the summit, the focus was on developing sustainable infrastructure projects, financing options, green technologies, and the transition to net zero emissions. Discussions also highlighted the importance of Saudi-British cooperation, bridging the investment gap, and the role of partnerships between the public and private sectors. Additionally, innovative financing models, including green bonds and loans linked to sustainability, were emphasized, as well as the role of smart urban planning in achieving sustainability goals and implementing mega projects using low-carbon technologies.

The summit activities will be followed by meetings of sectorial working groups in the Saudi-British Business Council for the real estate and finance sectors. There are also plans to establish the British-Saudi Sports Investment Forum to discuss ambitious plans for sports development. This movement reflects the growing economic relations between the two countries, with the trade exchange volume reaching about 25.7 billion riyals and experiencing a growth of 13.8%. Britain ranks 25th in terms of the Kingdom’s trading partners in exports and 10th in terms of imports.

Overall, British investors are keen on contributing to Saudi Arabia’s sustainable development goals through investments in renewable energy and green infrastructure projects. The Saudi-British Sustainable Infrastructure Summit in London highlighted the various opportunities available in key Saudi projects and emphasized the importance of collaboration between the two countries to bridge the investment gap and achieve sustainability goals. The discussions also covered the role of innovative financing models, smart urban planning, and low-carbon technologies in implementing sustainable infrastructure projects.

The summit activities will be followed by the establishment of sectorial working groups in the Saudi-British Business Council, focusing on the real estate and finance sectors. Additionally, plans are in place to form the British-Saudi Sports Investment Forum to further discussions on ambitious sports development plans. This collaborative effort reflects the strong economic ties between Britain and Saudi Arabia, with the trade exchange volume showing significant growth. With a focus on sustainability and green energy, both countries are working towards a more environmentally friendly future through strategic investments and partnerships.

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News Room June 25, 2024
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