Abdullah Al-Fozan, director at the Riyadh Chamber of Commerce and Industry

Abdullah Al-Fozan
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Updated 22 June 2020

Abdullah Al-Fozan, director at the Riyadh Chamber of Commerce and Industry

Abdullah Al-Fozan is the chairman and a senior partner at KPMG Saudi Arabia. He was recently appointed by the minister of commerce as a member of the board of directors of the Riyadh Chamber of Commerce and Industry.

Known as one of the best financial advisers in the Middle East, Al-Fozan has been working with KPMG since June 2000. He currently chairs the KSA Levant cluster, in addition to being the chairman of KPMG Saudi Arabia.

“This month marks my 20th year anniversary at KPMG,” said Al-Fozan. “It has been an exhilarating journey, filled with many wonderful experiences. Looking forward to continuing this journey further into more successes and celebrations alongside KPMG partners and community.”

Before joining the KPMG family, Al-Fozan spent eight years at the Saudi Industrial Development Fund, gaining extensive experience in auditing and expanding his knowledge in the trading and construction fields.

He holds a DBA from Nottingham Trent University, an executive MBA from Ecole Nationale Des Ponts Et Chaussees (ENPC) and the University of Edinburgh, and a BA in accounting from King Saud University in Riyadh.

KPMG International Cooperative is a multinational professional services network offering audit, tax and advisory services, and one of the Big Four accounting organizations.


$800bn plan to turn Riyadh into cultural hub for the Middle East

Updated 06 July 2020

$800bn plan to turn Riyadh into cultural hub for the Middle East

  • Saudi capital’s planning chief unveils ambitious strategy ahead of G20 urban development summit

DUBAI: Saudi Arabia is launching a SR3 trillion ($800 billion) plan to double the size of Riyadh in the next decade and transform it into an economic, social and cultural hub for the region.

The ambitious strategy for the capital city was unveiled by Fahd Al-Rasheed, president of the Royal Commission for the City of Riyadh, ahead of key meetings of the U20, the arm of the G20 leaders’ summit that deals with urban development and strategy.

“Riyadh is already a very important economic engine for the Kingdom, and although it’s already very successful, the plan now, under Vision 2030, is to actually take that way further, to double the population to 15 million people,” he told Arab News.

“We’ve already launched 18 megaprojects in the city, worth over SR1 trillion, over $250 billion, to both improve livability and deliver much higher economic growth so we can create jobs and double the population in 10 years. It’s a significant plan and the whole city is working to make sure this happens.”

About $250 billion in investment is expected from the private sector, with the same amount generated by increased economic activity from population growth, finance and banking, cultural and desert tourism, and leisure events.

HIGHLIGHTS

  • 18 megaprojects have already been launched worth over $250 billion.
  • 7 million trees planted in Riyadh in the next few years.
  • King Salman Park will be bigger than Hyde Park in London.

“We must also ensure the growth is managed properly, so there will be a focus on transport and logistics, including the Riyadh metro which will open at the beginning of next year. The aim is to increase productivity,” Al-Rasheed said.

The plan involves the creation of a “mega industrial zone” focusing on advanced technology such as renewables and automation, and biotechnology and aquaponics. Another key feature is sustainability, with energy conservation, the circular carbon economy with its emphasis on reducing emissions, and water management, all priorities.

“You will see 7 million trees planted in Riyadh in the next few years, and King Salman Park will be bigger than Hyde Park in London,” Al-Rasheed said.

The city also aims to be a Middle East artistic and cultural hub. An opera house is being considered, as well as public art shows with 1,000 works commissioned from around the world. “We have not seen anything like it since Renaissance Florence,” Al-Rasheed said.

The plans will be discussed this week during online meetings of the U20 linking Riyadh with Houston. The Texas oil capital is suffering a new spike in coronavirus cases and pandemics will be on the agenda. “We want to deal with this one, but also be ready for the next one,” Al-Rasheed said.