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Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go!
From 1st September to 7th September 2024
Italy becomes Saudi Arabia’s top choice for green energy supply to Europe
RIYADH: Saudi Arabia wants to make Italy a key partner in exporting green energy, like renewable hydrogen to Europe. The Kingdom aims to diversify its economy by shifting from the traditional oil and gas to low-carbon energy. Even though the hydrogen market is still new, Saudi Arabia is investing in both blue and green hydrogen.
Saudi Investment Minister Khalid Al-Falih pointed out that Italy is important in assisting the Kingdom in exporting these green products to Europe. He also stressed the need to invest in ports and pipelines to transport energy.
Italy recently entered into a deal with Germany and Austria for developing a hydrogen pipeline which is in line with EU’s goal to cut off carbon emissions by producing and importing green hydrogen.
Saudi Industry Ministry holds discussion with Heads of Chinese lithium, copper mining firms
RIYADH: Saudi Arabia’s Industry and Mineral Resources Minister, Bandar Alkhorayef, met with Chinese mining firms in order to discuss opportunities for investment and partnership in the sector. The discussion was regarding lithium used in batteries, especially those in electric vehicles and the processing and refining of copper.
Alkhorayef had a discussion with the chairman of General Lithium Corp. about Saudi Arabia’s plans in electric vehicle industry and investment opportunities. Other officials who attended the meeting include Abdullah Al-Ahmari, Saleh Al-Sulami, and Majed Rafed Al-Argoubi, who are involved in industrial and technological development.
Saudi Investment Minister Khalid Al-Falih pointed out that Italy is important in assisting the Kingdom in exporting these green products to Europe. He also stressed the need to invest in ports and pipelines to transport energy.
Italy recently entered into a deal with Germany and Austria for developing a hydrogen pipeline which is in line with EU’s goal to cut off carbon emissions by producing and importing green hydrogen.
New Campaign puts spotlight on Red Sea Tourism and Investment
RIYADH: The Saudi Red Sea Authority brought forth a new campaign called ‘More Than a Sea’ to encourage the coastal tourism and investment in the Red Sea region. The campaign focuses on four main areas: regulation, sustainable development, attracting investment and encouraging tourism.
The authority supervises the coastal tourism through setting policies, issuing licenses and developing infrastructure. It has put in place new measures to regulate the coastal tourism activities. The campaign also points out the investment opportunities available in the Red Sea, with its 1,800 km coastline, diverse landscapes, and cultural heritage.
Cruises, diving, and snorkeling are being promoted along with the effort to protect the environment and increase the blue economy. In this region there are 150 beaches, 1000 islands, and 500 spots for diving as well as unique cultural experiences.
Aligning with Saudi Vision 2030, the authority aims to contribute SR85 billion to GDP, increasing spending, and creating 210,000 new jobs by 2030.
Saudi Arabia, India holds talks to enhance Defense Partnership
RIYADH: Saudi Arabia and India held the India-Saudi Arabia Joint Committee on Defence Committee meeting in Riyadh. They also discussed the means for enhancing defence partnership. The meeting was presided by India’s Amitabh Prasad and Saudi Arabia’s Maj. Gen. Salman bin Awadh Al-Harbi. On joint exercises, exchange of experts and industry cooperation, they said they had made progress and decided to move their defence cooperation to strategic level.
Past agreements such as 2010 Riyadh Declaration and visits by high-ranking officials, also have boosted the defense ties between them. Past JCDC meetings include; training, exchange of intelligence, maritime security and fostering defense industries.
