Royal Commission in Jubail launches second energy management conference

1 / 2
The conference brings together industry, government and academic interests to improve energy management in Saudi Arabia. (SPA)
2 / 2
The conference brings together industry, government and academic interests to improve energy management in Saudi Arabia. (SPA)
Updated 14 January 2019
0

Royal Commission in Jubail launches second energy management conference

  • The conference brings together industry, government and academic interests to improve energy management in Saudi Arabia

The second edition of the Jubail Energy Management Conference kicked off on Monday, running until Tuesday, at the King Abdullah Civilization Center.

The conference brings together industry, government and academic interests to improve energy management in Saudi Arabia.

The event is held under the patronage of the CEO of the Royal Commission in Jubail, Mustafa Al-Mahdi, along with officials, researchers and experts in the field of energy, from around the world.

Director General of Operation and Maintenance, Eng. Jassim Al-Haroun said that the conference will be launched to fulfil the Kingdom’s Vision 2030, which aims to improve the government’s efficient spending and energy efficiency.

Al-Haroun said the conference will discuss the latest developments that contribute to sustainable energy development in all sectors. This will be achieved via coordination and the sharing of expertise using research in the industrial, trade and housing fields in the Kingdom.

It will also look into the challenges facing energy development and what are the best application methods and solutions.

The main speaker at the conference, Eng. Khalid Al-Tuaimi, executive vice president for Power Generation at the Saudi Electricity Company, began his speech by recalling the history of how electricity first entered Saudi Arabia and the stages of its development.

He explained that the Electricity Company has invented several digital solutions that helped improve the efficiency of power plants, leading to the best use of energy.

Juergen Braunstein, Research Fellow at Harvard Kennedy School, stressed there are several incentives for international companies to invest in Saudi Arabia.

He noted that a German company has announced that the Kingdom will witness a growth in energy production that will encourage investors in the field of energy to invest in the kingdom.

Braunstein said the Kingdom has a “stimulating environment for investment, specifically in the industrial sector,” adding that there are factors that have pushed Chinese companies to enter the Saudi market, such as the strategic cooperation initiative between China and Saudi Arabia in 2016.


Forum aims to boost Saudi-Japan trade ties

Updated 18 June 2019
0

Forum aims to boost Saudi-Japan trade ties

  • Japan is one of Saudi Arabia’s most important economic partners

TOKYO: More than 300 government, investment and industry leaders on Monday took part in a high-level gathering aimed at further boosting business opportunities between Saudi Arabia and Japan.

The Saudi Arabian General Investment Authority (SAGIA) welcomed key figures from the public and private sectors to the Saudi-Japan Vision 2030 Business Forum, held in Tokyo.

Hosted in partnership with the Japan External Trade Organization (JETRO), the conference focused on the creation of investment opportunities in strategic sectors of the Kingdom. Delegates also discussed key reforms currently underway to enable easier market access for foreign companies.

Speaking at the event, Saudi Economy and Planning Minister Mohammed Al-Tuwaijri, said: “Today’s forum is a testimony to the success of the strategic direction set by the Saudi-Japanese Vision 2030 two years ago, which seeks to drive private-sector involvement, both by partnering with public-sector entities.”

SAGIA Gov. Ibrahim Al-Omar said: “At SAGIA, we have been working on creating a more attractive and favorable business environment in Saudi Arabia, which is making it easier for foreign companies to access opportunities in the Kingdom.”

Japan is one of Saudi Arabia’s most important economic partners. It is the Kingdom’s second-largest source of foreign capital and third-biggest trading partner, with total trade exceeding $39 billion.

JETRO president, Yasushi Akahoshi, said: “Saudi-Japan Vision 2030 has made great progress since it was first announced. Under this strategic initiative, the number of cooperative projects between our two countries has nearly doubled, from 31 to 61, and represents a diverse range of sectors and stakeholders.”

Since 2016, the Saudi government has delivered 45 percent of more than 500 planned reforms, including the introduction of 100 percent foreign ownership rights, enhancing legal infrastructure and offering greater protection for shareholders.

As a result, the Kingdom has climbed international competitiveness and ease-of-doing-business rankings, with foreign direct investment inflows increasing by 127 percent in 2018 and the number of new companies entering Saudi Arabia rising by 70 percent on a year-on-year basis in the first quarter of 2019.