How Saudi Arabia and its Asian partners are driving green development ahead of COP29

Special How Saudi Arabia and its Asian partners are driving green development ahead of COP29
COP 29 volunteers took part in an initiative to promote waste reduction through recycling, held this week in Azerbaijan's Icherisheher (Old City), an area renowned for its ancient history and natural beauty. The initiative was orchestrated by the COP29 Azerbaijan Operating Company in collaboration with the Icherisheher State Historical and Architectural Reserve. (Photo credit: COP29 Media Office)
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Updated 23 July 2024
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How Saudi Arabia and its Asian partners are driving green development ahead of COP29

How Saudi Arabia and its Asian partners are driving green development ahead of COP29
  • Asian nations share a common vision for climate action that does not hinder growth and prosperity
  • From the Saudi Green Initiative to Azerbaijan’s adoption of solar, Asia seeks harmony between humans and nature

QINGDAO, China: As one of the world’s largest economies and contributors to greenhouse gas emissions, China is seen as having a particular responsibility among nations to help address climate change and promote sustainable development.

As such, the Shanghai Cooperation Organization invited Asian countries to participate in a two-day Green Development Forum in Shandong earlier this month to discuss solutions for a greener future.

China’s President Xi Jinping has expressed his desire to strengthen cooperation with regional parties to work toward common social and economic development goals, while at the same time fostering harmonious coexistence between people and nature.




Representatives from various Asian countries attended the two-day Green Development Forum in Shandong, China, earlier this month to discuss solutions for a greener future. (Supplied)

Shen Yueyue, vice chair of the national committee of the Chinese People’s Political Consultative Conference and chair of the Good-Neighborliness, Friendship and Cooperation Commission of the SCO, reiterated the need to foster this link between development and the environment.

“Development is development for all, and good development is green development,” Shen said in her keynote address at the forum, which was themed: “Joining hands in green development, together promoting harmony between humans and nature.”

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Green development is a focus for many countries, including Saudi Arabia. Indeed, one of the objectives of the Kingdom’s Vision 2030 reform agenda is ensuring sustainable practices in social and economic development.

Two such strategies launched by the Kingdom to promote green development and a low-carbon future are the Saudi Green Initiative and the Middle East Green Initiative.

Together, these initiatives aim to increase vegetation cover in Saudi Arabia and across the region by planting billions of trees to mitigate the effects of climate change and to help slow the rise of global temperatures in line with the Kingdom’s net-zero commitments

Another regional state that is making green development a key priority is Iran.

During the SCO conference in Shandong’s port city of Qingdao, Ali Salajegheh, vice president and head of Iran’s Department of Environment, discussed his country’s commitment to fighting climate change.

One example of this is the country’s role in hosting the International Conference on Sand and Dust Storms in 2023.




Family picture of the participants of the Green Development Forum held in Shandong, China, earlier this month. (Supplied)

However, Salajegheh believes that addressing social and political issues is crucial to preventing a deepening of the environmental crisis in the region, including the need for economic stabilization and poverty reduction.

“Developing countries should make sure of their social and economic development as the main priority because the fight against poverty and the development of health and the provision of housing and energy is still for a significant part of the developing world considered a basic priority,” he said, according to Iran’s state news agency IRNA.

These efforts and more will be on the agenda at the 29th UN Climate Change Conference — COP29 — in Baku this November. In the run-up to this major event, host nation Azerbaijan has been working hard to achieve its green development goals.

DID YOUKNOW?

Azerbaijan’s capital Baku will host COP29 in November.

COP29 Presidency aims to raise ambition and enable action.

Baku is committed to developing the nation’s renewable energy potential.

Policies include tax breaks on electric vehicles and investment in education.

Although Azerbaijan is a major player in the global oil and gas industry, ranking 20th in the world for proven oil reserves, one of the key pillars of its green development strategy is the rapid expansion of renewable energy infrastructure.

The country has made significant changes to reduce its dependence on fossil fuels, begin the transition to renewable energy, and participate in the global effort to combat climate change.




The 230MW Garadagh Solar Power Plant project in Azerbaijan. (AN photo by Haifa Alshammari)

In 2020, an agreement was signed between Azerbaijan’s Ministry of Energy and UAE firm Masdar to establish the country’s first solar energy facility — the 230-megawatt Garadagh Solar Power Plant.

The project occupies 550 hectares and currently boasts 570,000 bifacial photovoltaic panels, which capture the direct light of the sun and the reflection of sunlight from the ground.

Murad Sadikhov, Masdar’s country manager, told Arab News that the facility has a capacity of 230 megawatts, which generates more than 500 million kilowatt-hours per year.

“Masdar has invested in a total capacity of more than 24GW (gigawatts) of renewable energy projects in more than 40 countries worldwide and aims to increase this to 100GW by 2030,” he said.

“In Azerbaijan, in addition to the 230MW Garadagh Solar Power Plant, the foundations for three renewable energy plants with a total installed capacity of 1GW have been laid.”




Murad Sadikhov, country manager at The 230MW Garadagh Solar Power Plant project in Azerbaijan. (AN photo by Haifa Alshammari)

Alongside the implementation of renewable energy projects, Azerbaijan is also encouraging the public to shift from using fossil fuel-intensive vehicles to adopting green modes of transport.

“The government is promoting a green agenda, not only in terms of establishing generative capacity but also on the demand side,” said Sadikhov.

“They promote electrical vehicles. They started the electromobility master plan. They hired prominent consultants. They established new rules and legislations such as the tax relief for EVs and are promoting EVs for public transportation, trying to maximize the use of electric transportation.”




Significant strides have been made in tapping Azerbaijan’s immense wind energy potential. The Azerbaijan 240 MW Wind Farm, for one, is being developed by Saudi Arabia’s ACWA Power.

Azerbaijan is also investing heavily in raising public awareness about environmentally friendly practices and training the next generation of sustainability professionals. “Most of the universities now have special programs for renewable energy,” said Sadikhov.

Although green development strategies have been adopted by several nations across Asia, experts and officials are keenly aware that more needs to be done to respond to the climate challenge without undermining social and economic development.
 

 


Saudi minister receives copy of Omani ambassador’s credentials

Saudi Deputy Foreign Minister Waleed Al-Khuraiji receives a copy of the credentials of the newly appointed Omani ambassador.
Saudi Deputy Foreign Minister Waleed Al-Khuraiji receives a copy of the credentials of the newly appointed Omani ambassador.
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Saudi minister receives copy of Omani ambassador’s credentials

Saudi Deputy Foreign Minister Waleed Al-Khuraiji receives a copy of the credentials of the newly appointed Omani ambassador.

RIYADH: Saudi Deputy Foreign Minister Waleed Al-Khuraiji has received a copy of the credentials of the newly appointed Omani ambassador to the Kingdom Sayyid Najib bin Hilal Al-Busaidi.

Al-Khuraiji welcomed the ambassador and wished him success in his new duties, Saudi Press Agency reported on Monday. 


Fintech founder describes journey in shaping Saudi finance

Fintech founder describes journey in shaping Saudi finance
Updated 50 sec ago
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Fintech founder describes journey in shaping Saudi finance

Fintech founder describes journey in shaping Saudi finance
  • Adel Alateeq: Entrepreneurship is part of me. I’ve always wanted to do something on my own, to have the freedom to do creative things out of the boundaries of large organizations
  • Adel Alateeq: I think today, the transformation that Saudi is going through is probably a once-in-a-lifetime opportunity

Adel Alateeq, co-founder and CEO of Awaed, reflected on a career that has witnessed the evolution of Saudi Arabia’s investment landscape.

In a discussion with The Majlis podcast produced in partnership with Arab News, Alateeq described his career path from traditional finance to fintech startup cofounder.

Alateeq’s early roles involved managing public equity funds, an area significantly affected by Saudi Arabia’s market crash in February 2006.

“The market was booming, a lot of Saudis were participating in the Saudi markets,” he said.

“But, then, all of a sudden, came February 2006, a crash happens, and a lot of people lost trust, lost money, a lot of money in the market, and then they started looking for other things, and they started deserting the local markets.”

The financial turmoil, coupled with the 2008 global financial crisis, highlighted the vulnerability of relying solely on public equities and spurred a search for alternative investments.

This led Alateeq to work on the first real estate investment trust in Saudi Arabia with Riyad Capital, a project initiated around 2008 and eventually launched in 2016.

Simultaneously, he championed the development of a venture capital fund with Riyad Capital.

Discussions began in 2012, but it took four years to convince investors, primarily due to skepticism about the potential for startups in Saudi Arabia at the time.

“We started talking about the fund back in 2012. We only launched in 2016,” Alateeq said.

“It took us four years to convince investors, and to fundraise for our first VC fund, because a lot of investors did not believe that there would be startups coming out of Saudi.”

Not long afterwards, Alateeq was tapped by the Public Investment Fund to join Jada Fund of Funds, founded in 2018.

He said the mandate was to “catalyze the private equity and venture capital industry” in Saudi Arabia.

Despite the challenges of building a team remotely during the global pandemic, Jada achieved its five-year key performance indicators within just three years.

Speaking about his move to establish the Awaed digital wealth management platform, Alateeq said: “Entrepreneurship is part of me. I’ve always wanted to do something on my own, to have the freedom to do creative things out of the boundaries of large organizations.”

Alateeq believes that Saudi retail clients are “underserved” by existing players who struggle to reach them effectively.

He challenges the notion that Saudis lack financial literacy, arguing that the key issue is one of “access, not knowledge.”

In line with the unique aspects of the Saudi market, Awaed allows users to screen out non-Sharia compliant investment options.

Reflecting on the Saudi banking and investment sector, Alateeq said that its profitability can lead to complacency and a lack of innovation among many established players.

“The market is hungry,” he said. “There’s so much to do. But because of that, creativity is not at its best.”

Alateeq is optimistic about the country’s reforms under Vision 2030. “I think today, the transformation that Saudi is going through is probably a once-in-a-lifetime opportunity,” he said.


Riyadh International Industry Week 2025 to feature 524 exhibitors from 20 countries

Riyadh International Industry Week 2025 to feature 524 exhibitors from 20 countries
Updated 23 min 57 sec ago
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Riyadh International Industry Week 2025 to feature 524 exhibitors from 20 countries

Riyadh International Industry Week 2025 to feature 524 exhibitors from 20 countries
  • Event will cover an area of 20,550 sq. meters and be the largest industrial gathering in the region
  • Activities will include live demonstrations of the latest industrial technologies

RIYADH: The Saudi capital will host “Riyadh International Industry Week 2025” under the patronage of the Ministry of Industry and Mineral Resources at the Riyadh International Convention and Exhibition Center from May 12 to 15. 

It will feature more than 524 exhibitors from around the world, with an expected attendance of over 25,000 visitors, including specialists and those interested in the industrial sector, according to a press release issued by the organizer.

The event will cover an area of 20,550 sq. meters and be the largest industrial gathering in the region, bringing together more than 48,000 products and advanced technologies under one roof. 

It will include national pavilions representing major industrial countries, while the activities will feature speakers and experts, with more than 60 speakers presenting strategic insights in more than 20 sessions and specialized workshops.

The exhibition agenda includes several strategic themes that will highlight the latest global trends in the industrial sector and provide a platform for dialogue with experts, investors, and decision-makers. 

Activities will include live demonstrations of the latest industrial technologies, along with highlighting government initiatives aimed at supporting and empowering the sector, while highlighting key enablers of the industrial environment in the Kingdom.

The events will be spread over four specialized industrial exhibitions. The “Saudi Plastics and Petrochemicals Exhibition,” in its 20th edition, will celebrate its history of supporting these industries and offer a comprehensive platform to show the latest innovations and sustainable solutions. 

The event will also host the “Saudi Print and Pack Exhibition,” featuring the latest advances in printing technology and smart packaging solutions.

It will feature the “Saudi Smart Logistics Exhibition,” highlighting the latest solutions in material handling, storage, and supply chains.

The journey of innovation will continue through the “Saudi Smart Manufacturing Exhibition” dedicated to automation and digital transformation solutions for industrial facilities in the Kingdom.

The Industry Week is a major platform for empowering the national industrial sector and exploring future opportunities in supply chains and advanced technologies. 

It represents an extension of the Kingdom’s longstanding efforts to support national priorities in the industrial sector. It will foster international partnerships, facilitate knowledge transfer, and present innovative solutions that enhance industrial competitiveness regionally and globally, in line with the objectives of Saudi Vision 2030.


Jeddah roadshow promotes Malaysia’s tourism, seeks more Saudi visitors

Jeddah roadshow promotes Malaysia’s tourism, seeks more Saudi visitors
Updated 05 May 2025
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Jeddah roadshow promotes Malaysia’s tourism, seeks more Saudi visitors

Jeddah roadshow promotes Malaysia’s tourism, seeks more Saudi visitors
  • Group included representatives from private sector companies, travel agents and hoteliers
  • Minister Dato Sri Tiong King Sing discussed preparations for the Visit Malaysia 2026 campaign

JEDDAH: Dato Sri Tiong King Sing, Malaysia’s minister of tourism, arts and culture, led a delegation to Jeddah for a roadshow and business-to-business networking event aimed at exploring tourism opportunities between Saudi Arabia and Malaysia.

Accompanied by Datuk Manoharan Periasamy, director general of Tourism Malaysia, the group included representatives from private sector companies, travel agents and hoteliers to network and form strategic alliances with buyers, travel agents and airlines from the Kingdom.

In his remarks, the minister discussed preparations for the Visit Malaysia 2026 campaign, which aims to attract 35.6 million tourists, focusing on increasing Malaysia’s visibility, improving accessibility, and enhancing the appeal of its tourism.

Speaking to Arab News, the minister said: “We are here to discuss further collaborations and launch the Visit Malaysia 2026 roadshow in Jeddah. Our annual roadshow allows us to showcase new offerings and strengthen partnerships with Saudi tour operators.”

Regarding Saudi tourist arrivals, he said: “We expect a rise in visitors from the Arab world, especially from Saudi Arabia, which has the largest percentage of visitors from the Middle East.”

He added: “Saudi Arabia has been a key market for Malaysia for years, and with Visit Malaysia 2026 approaching, we are targeting more visitors than last year, which reached 68,000.”

He asked everyone to work more vigorously and closely with Tourism Malaysia to send more Saudis to Malaysia, to observe its beauty and experience the sights and sounds of “Malaysia Truly Asia.”


Makkah launches digital tools to enrich Hajj pilgrims’ experience

Makkah launches digital tools to enrich Hajj pilgrims’ experience
Updated 05 May 2025
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Makkah launches digital tools to enrich Hajj pilgrims’ experience

Makkah launches digital tools to enrich Hajj pilgrims’ experience
  • Second version of AI-powered robot Manarah 2 launched
  • Sheikh Abdulrahman Al-Sudais reveals Hajj plan Thursday 

MAKKAH: The Presidency of Religious Affairs at the Grand Mosque and the Prophet’s Mosque has launched several digital tools to enhance the spiritual experience of pilgrims during the Hajj season. 

The initiative aims to convey the universal message of Hajj and highlight its Shariah objectives in multiple languages. 

Sheikh Abdulrahman Al-Sudais, head of the presidency, inaugurated the second version of the artificial intelligence-powered robot Manarah 2. 

The launch included several smart interactive screens, a global electronic recitation platform, and a multilingual Surah Al-Fatiha app. 

During the Hajj season, the presidency is focused on enhancing the digital experience through integrated services, AI, smart apps, and media, in line with its broader transformation goals.

The initiative also supports Vision 2030 by utilizing advanced digital tools and content developed by local experts to promote the values of moderation and guidance rooted in the Qur’an and Sunnah. 

The presidency’s Hajj operational plan, to be announced on Thursday, will prioritize enriching the pilgrim experience and will include scientific, educational, and guidance-based initiatives that reflect its core mission.