RIYADH: The Saudi G20 presidency concluded a one-day symposium on infrastructure investment in Riyadh.
The symposium was held on the sidelines of the first G20 Infrastructure Working Group (IWG) meeting, which took place on Wednesday and Thursday in the Saudi capital.
The symposium brought together G20 member countries, international organizations, leading international and local asset managers, and institutional investors to discuss solutions to challenges that prevent or limit private investment in infrastructure. It was also attended by relevant Saudi government entities to enrich and reflect local content.
The symposium’s overall objective was to explore a potential partnership between the IWG and asset managers and institutional investors to collectively promote infrastructure investment.
Dr. Fahad Al-Dossari, deputy governor for research and international affairs at the Saudi Arabian Monetary Authority, welcomed speakers and guests at the event.
In his opening remarks, he highlighted the importance of encouraging private sector investment in infrastructure to close the financing gap.
Al-Dossari said the Saudi G20 presidency will foster cooperation with the private sector to increase private investment and enhance the quality of infrastructure spending.
“This symposium will provide an important forum for G20 countries, international organizations, asset managers and institutional investors to put into motion a new collaborative model to continue efforts in promoting infrastructure as an asset class,” he added.
The Global Infrastructure Hub estimates a cumulative infrastructure financing gap of $15 trillion to meet adequate global infrastructure needs between now and 2040.
According to the World Bank, around 1 billion people worldwide live more than 2 km away from a drivable road, almost 1 billion lack access to electricity, and 4 billion lack access to the internet.
Under the Saudi G20 presidency, the IWG will focus on promoting private sector investment in infrastructure and exploring ways to utilize technology to increase efficiency, value delivery and sustainability of infrastructure investment.
G20 event on infrastructure investment concludes in Riyadh
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G20 event on infrastructure investment concludes in Riyadh
Saudi teams shine at Formula 1 in Schools World Finals
- Over 450 young innovators from around the globe join together for the event in Dhahran
- Competitors worked in 55 teams to design, build and race miniature F1 cars on a 20-meter track
RIYADH: Three Saudi teams have scooped awards at the 2024 Aramco Formula 1 in Schools World Finals.
Over 450 students from gathered at Dhahran Expo from Nov. 23-26 for the competition, the first time it has been hosted in the Kingdom. The finalists emerged from an initial 29,000 schools worldwide.
The Clad team won the Enterprise Portfolio Award, while Oryx claimed Best Engineered Car and Shaheen took Best Application of Project Management.
Competitors worked in 55 teams to design, build and race miniature F1 cars on a 20-meter track. Those taking part were aged from nine to 19, one third of whom were female.
The competition reflects Aramco’s commitment to developing future leaders in science, technology, engineering and mathematics.
The King Abdulaziz Center for World Culture, otherwise known as Ithra, oversaw the Saudi teams’ preparation during a nine-month training period. Led by 37 experts from six specialized centers, the program focused on engineering, design and teamwork.
It has become a key platform for developing Saudi Arabia’s next generation of scientific talent and putting innovation firmly on the global stage.
At the 2023 World Finals in Singapore, Saudi teams won the Innovative Thinking, Women in Motorsport and Identity awards.
The Aramco Formula 1 in Schools World Finals offer young innovators an opportunity to shape Saudi Arabia's future creative industries.
The program follows a unified curriculum covering physics, aerodynamics, design, manufacturing, branding, graphic design, sponsorship, marketing, leadership, teamwork, media skills and financial strategies.
Grand mufti of Saudi Arabia meets Pakistan’s Senate chair
- Al-Sheikh highlights role of Council of Senior Scholars on Islamic issues
- Council ‘keen to promote moderation and combat extremism in the region’
RIYADH: The Grand Mufti of Saudi Arabia on Wednesday received the chairperson of Pakistan’s senate at the presidential headquarters in Riyadh.
Sheikh Abdulaziz Al-Sheikh met Yusuf Raza Gilani, who was accompanied by a delegation of members of the upper house in the Pakistani parliament.
Al-Sheikh, who is also chairperson of the Council of Senior Scholars, and president general of scientific research and ifta, highlighted the depth and distinguished brotherly Islamic relations between Saudi Arabia and Pakistan, the Saudi Press Agency reported.
He highlighted the significant role the Council of Senior Scholars performs in the Kingdom to explain Shariah rulings about issues that concern Muslims. It has issued more than 30,000 fatwas and 200 rulings.
The council is keen to promote moderation and combat extremism in the region, he added.
He said that King Salman and Crown Prince Mohammed bin Salman continue to serve the Two Holy Mosques in Makkah and Madinah, ensuring that visitors and pilgrims receive appropriate services.
Gilani expressed his happiness to visit Saudi Arabia, noting the great role the Kingdom is playing through its leadership as well as the ties it has developed with Pakistan on various issues.
The meeting was attended by the secretary-general of the Council of Senior Scholars, Sheikh Fahd Al-Majed, and Shoura Council member Abdulrahman Al-Harbi.
New initiative to plant 60m seeds for sustainability
- NCVC CEO, Khaled Al-Abdulkader, outlined the initiative’s goal of dispersing 60 million seeds and cleaning floodplains throughout the governorate
- Efforts are part of the broader National Greening Season, which aims to increase green spaces and address environmental challenges
RIYADH: Saudi Arabia’s National Center for Vegetation Cover Development and Combating Desertification has launched the Grow Impact initiative in Hafar Al-Batin governorate to encourage community participation in preserving and expanding vegetation cover, while promoting sustainability and environmental awareness.
The center’s CEO, Khaled Al-Abdulkader, outlined the initiative’s goal of dispersing 60 million seeds and cleaning floodplains throughout the governorate.
These efforts are part of the broader National Greening Season, which aims to increase green spaces and address environmental challenges, according to the Saudi Press Agency.
Al-Abdulkader described Grow Impact as a key step toward achieving sustainable development goals, restoring ecological balance, and enhancing biodiversity.
He said that the initiative also encourages environmental responsibility among individuals and communities.
The initiative aims to reduce waste in natural areas, protect plant and animal species from human activity, and combat desertification by inspiring communities to protect natural resources.
These goals align with Saudi Arabia’s vision for preserving the planet and its natural heritage, SPA reported.
The center continues its mission to develop and protect vegetation cover throughout the Kingdom, rehabilitating degraded areas, addressing violations, combating illegal logging, and overseeing rangelands, forests and national parks.
Thunderstorms forecast across Saudi Arabia until Sunday
- Makkah region is forecast light to moderate rain showers that could lead to flash floods
- Asir and Jazan regions will also be affected by moderate to heavy showers
RIYADH: The General Directorate of Civil Defense has forecast thunderstorms in several regions across the Kingdom until Sunday.
Makkah region is forecast light to moderate rain showers that could lead to flash floods, hail and dust-stirring winds, reported the Saudi Press Agency, while moderate to heavy rain is expected in Riyadh region.
Asir and Jazan regions will also be affected by moderate to heavy showers, while the Qassim, Eastern and Baha regions will experience moderate rain. The regions of Madinah and Najran can expect light rain.
The directorate has urged people to exercise caution, avoid areas prone to flash flooding, and refrain from swimming in flooded areas.
Members of the public should follow media channels to keep themselves updated on the latest conditions.
Autumn in Saudi Arabia is typically rainy, with rapid weather changes providing relief from the heat, according to the National Center for Meteorology.
