ICCE to spotlight Saudi contracting sector

The Saudi construction sector is undergoing a massive transformation with a number of major building projects being planned at the moment.
Updated 13 September 2018
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ICCE to spotlight Saudi contracting sector

A new exhibition and conference dedicated to Saudi Arabia’s contracting sector is launching in Riyadh next week, where government authorities, regulators, and key industry players will join forces to develop the Kingdom’s $1.4 trillion construction market. 

The 1st International Contracting Conference and Exhibition (ICCE), will take place from Sept. 16-17 at the Riyadh International and Convention and Exhibition Center.

The two-day event is held under the patronage of Dr. Majid bin Abdullah Al-Qassabi, Saudi minister of commerce and investment, and hosted by the Saudi Contractors Authority, a newly formed government authority responsible for regulating the Kingdom’s contractor industry and increasing mergers and acquisitions in a market where construction projects are expected to surge in the coming years. 

According to Project Intelligence Platform Ventures ONSITE, as of September 2018, the total value of Saudi construction-related projects, comprising buildings, industrial, power and water, oil and gas, and infrastructure, is estimated to be worth $1.4 trillion. Meanwhile, new Saudi construction contractor awards are estimated to grow to $44.1 billion in 2019, compared to 2018’s value of $26.3 billion. 

Thabet Mubarek Al-Sawyeed, governor of the Saudi Contractors Authority (SCA), said the 1st ICCE is formed under the guidance of Saudi Vision 2030. “As part of Vision 2030, Saudi Arabia is going through immense change, and part of this change is to achieve a sustainable contracting sector for the Kingdom,” said Al-Sawyeed.

“In line with King Salman’s vision, the SCA’s mandate is to organize, develop and regulate Saudi’s contracting industry, enabling it to build competent capabilities and to raise the standards produced by the sector, thereby establishing a safe and secure work environment.

“We’re therefore launching the ICCE under the theme of ‘Building the future with confidence.’ Its aim is to not only create business opportunities, but to solve challenges in the contracting industry, encourage creativity, enhance communications, educate, facilitate and advocate not only SCA members, but the construction industry as a whole,” added Al-Sawyeed.

The 1st ICCE is co-organized by Messe Frankfurt Middle East, and Saudi-based ACE Exhibitions. Key sponsors onboard for the inaugural showpiece include Strategic Diamond Partner Al-Bawani; Platinum Partners Riad Bank and Shibh Al-Jazira Contracting Company; Gold Partners SAPAC and ANB; and Silver Partners Nesma and Partners Contracting, Saudi Tumpane, Mohammed Al-Ojaimi Group, and TAMIMI Pre-Engineered Buildings.

Ahmed Pauwels, CEO of Messe Frankfurt Middle East, said: “The Saudi Arabian construction sector is undergoing a massive transformation, with the likes of Neom Business City and The Red Sea Project just a couple of examples of major building projects being planned at the moment.” 

The two-day summit features an expert panel of more than 35 speakers. 


ICD & We-Fi empower women entrepreneurs

Updated 18 September 2019

ICD & We-Fi empower women entrepreneurs

With the aim of discussing how the Islamic Corporation for the Development of the Private Sector (ICD) and the Women Entrepreneurs Finance Initiative (We-Fi) can expand their relationship and integrate the gender themes into ICD’s operations and businesses, a meeting was held between Ayman Amin Sejiny, CEO of ICD; Wendy Teleki, head of We-Fi secretariat; and Samir Suleymanov, director strategic initiatives, World Bank, at ICD’s premises in Jeddah recently. The parties discussed the development and promotion of women’s entrepreneurship through innovative sustainable solutions to increase women’s access to economic opportunities in developing countries. 

Teleki highlighted the main objectives of We-Fi, which is to support women entrepreneurs around the world through programs that provide financing, capacity building and also promote enabling environments that allow women to become entrepreneurs and grow their businesses. We-Fi uses an ecosystem approach to develop programs at the country level that will break down barriers and create more opportunities for women.

During the meeting, Ayman said: “ICD and We-Fi are working together to enhance their initiatives and mandates in supporting the female society in all ICD’s member countries. We want to ensure that our lines of finance and our relationship with the 102 directly connected financial institutions we are dealing with will further enhance the funding, training to women entrepreneurs and to provide the required necessary support to women in all our member countries.”

Teleki said that We-Fi has six implementing partners (IP) and the Islamic Development Bank (IsDB) is one of them. “IsDB, along with ICD is supporting women entrepreneurs in fragile countries. In Yemen, they have a very interesting ongoing program named BRAVE Women. They target to train up to 500 women to learn to develop business plans in fragile and high-risk contexts and up to 400 of them will get access to funding on a matching grant basis. This program aims also to develop the relationship between those women entrepreneurs with the local banks and also lead companies to make sure those women have access to finance and markets to grow their businesses. Moreover, the IsDB and ICD will be implementing soon this BRAVE Women program in two other countries to improve the women’s entrepreneurship potential in key economic sectors and we look forward to seeing those programs happening in future,” she said.

We-Fi is a global platform that seeks to support over a 100,000 women around the world in the next five years and mobilize at least $2 billion from the public and private sector for further activities.