Middle-east Arab News Opinion | Asharq Al-awsat

Saudi Arabia Urges Investors to be Informed about Vision 2030 Opportunities | ASHARQ AL-AWSAT English Archive 2005 -2017
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Ankara- Saudi Arabia wants Turkish investors to play a role in its 2030 Vision to become a global investment powerhouse, the Kingdom’s Ambassador to Ankara Walid bin Abdulkarim al-Khereiji said Tuesday.

Speaking at the special session of the 22nd World Petroleum Congress, Khereiji said that the Kingdom strongly supports its 2030 Vision.

The vision lays out a blueprint for Saudi Arabia’s long-term goals and expectations reflecting its strengths and capabilities.

Some of the principles target the country becoming a global investment powerhouse and aim to transform its unique strategic location into a global hub connecting the three continents of Asia, Europe and Africa.

Saudi Arabia has been relying on 13 national transformative programs to be able to achieve this vision, which includes forming strategic partnerships, strengthening the private and public sectors and restructuring the country’s public investment funds.

Head of the General Investment Authority Ayidth al-Otaibi explained that Saudi Arabia is seeking around $30 billion worth of investments annually to achieve the vision.

“We look forward to seeing Turkish investors in Saudi Arabia,” Otaibi said.

He added that renewable energy, mining, chemicals, retail, tourism and health care services would be among the main sectors Saudi Arabia will focus on as part of its 2030 Vision.

For his part, Senior Vice President for Technical Services at Saudi Aramco Ahmed al-Saadi said that his country has the largest oil reserves in the world, as well as its reserve in the field of natural gas, pointing out to the importance of these resources in the implementation and success of Vision 2030.

He stressed the continued investments in the oil and natural gas industry, and noted that there is a huge demand on gas.

On the other hand, the state-owned Petroleum Pipeline Company (BOTAS) reached an agreement on financing the Turkish Stream pipeline with the Russian state-owned gas and oil giant Gazprom, the Turkish company’s General Manager Burhan Ozcan said earlier this week.

“We have already agreed with them on the issue of financing. However, I cannot disclose any figures, in what percentage ratio will we do this,” Ozcan said, speaking at the 22nd World Petroleum Congress in Istanbul.

The BOTAS head said that the process of obtaining permits for the second line of TurkStream continues in a positive way, adding that “there are no pitfalls in it.”