Top Saudi projects forum to showcase over $266bn projects

Leading Saudi contractors will be at this year's Future Projects Forum in Riyadh to discuss key industry issues as well as boost coordination among project owners, manufacturers and suppliers.


To be held from May 22 to 23 in Riyadh under the patronage of Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, the forum will serve as a platform to showcase over 3,000 projects worth SR1 trillion ($266 billion).


Announcing the key features of the upcoming event, the Saudi Contractors Authority said the forum aims to create a conducive environment for contractors from different specializations and categories to convene, exchange experiences, share perspectives, and envision the sector's future for the betterment of the country.


The fifth edition of the Future Projects Forum is sponsored by over 40 government and private entities and enjoys the support of several major national companies.


Speaking at the press conference in Riyadh today (May 15), Engineer Zakaria bin Abdulrahman Al Abdulqader, the Chairman of the Board of Directors of the Saudi Contractors Authority, lauded the wise leadership for its continuous support and empowerment of the authority. 


He emphasized the leadership's commitment to involving the private sector in the national development process, in alignment with the objectives of the Kingdom Vision 2030.


Al Abdulqader highlighted the significance of the forum's current edition, which aligns with positive economic developments in the Kingdom. 


These developments stem from the remarkable progress achieved by the Kingdom Vision 2030, as evidenced by a 7.8% increase in real GDP between 2021 and 2022, he stated. 


Al Abdulqader underscored the contracting sector's fundamental role in driving the economy's growth and prosperity, given its close relationship with the kingdom's diverse and comprehensive giant initiatives that support long-term sustainable growth and revenue diversification.


Ensuring financial sustainability is crucial to fostering a robust contracting industry capable of effectively executing major projects, promoting local content, and creating employment opportunities for citizens, he added.


Abdulmajid Al Rashoudi, the Secretary General of the Authority, said the forum aims to enhance coordination and integration among project owners, contractors, manufacturers, and suppliers. 


"This collaboration will showcase the extensive range of opportunities and projects that the contracting sector requires as it serves as the executive arm of the ambitious Kingdom Vision 2030 initiatives and is a key driver across various sectors," he added.


Al Rashoudi further noted that the Forum and the projects under review align with the implementation of the Kingdom Vision 2030. 


A mature, strong, and organized contracting sector is essential to support all sectors, including housing, transportation, logistics services, education, healthcare, tourism, entertainment, hospitality, real estate, energy, facilities, and manufacturing, he added.-TradeArabia News Service





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