06 May 2024
RIYADH: Investors eyeing environmental opportunities in Saudi Arabia’s Eastern Province stand to benefit from a forum held on May 5, amidst efforts to preserve natural resources.
Organized by the Eastern Chamber under the theme “Restoration and Sustainability,” the Environmental Investment Forum 2024 aims to underscore the importance of ecological preservation.
The event, patronized by Prince Saud bin Naif, Gov. of the region, also delves into the effects of environmental regulations and legislation on the business sector, the Saudi Press Agency reported.
Badr bin Suleiman Al-Ruzaiza, chairman of the regional chamber, emphasized the importance of environmental protection within the framework of the Kingdom’s Vision 2030.
He stressed that the country’s ambitious plan views environmental stewardship not only as a religious and ethical imperative but also as a humanitarian duty.
Al-Ruzaiza elaborated that Vision 2030 aims to reduce pollution by improving waste management efficiency across diverse sectors. He underscored the Kingdom’s proactive approach in addressing environmental issues domestically and globally.
The chairman emphasized the paramount significance of the environmental sector in conserving renewable natural resources.
He stressed its pivotal role in laying the essential groundwork for achieving holistic and sustainable growth, ensuring food security, and improving overall quality of life.
He stated that the forum seeks to shed light on the importance of the environment and ways to preserve it, addressing the impact of environmental regulations and legislation on business sectors.
Additionally, it aims to review investment opportunities for businesses in the environmental sector, as well as available financing channels for projects in this vital sector. This represents environmental investment as a key driver and effective element in achieving sustainable development.
Al-Ruzaiza clarified that the forum supports environmental protection practices, presents experiences and solutions, and aims to expand knowledge about investment opportunities related to sustainability. It also focuses on methods for addressing them and implementing associated mechanisms.
He also highlighted the array of sustainability initiatives and programs initiated by the Kingdom to foster green investments across various sectors. Furthermore, he emphasized the nation’s objective of increasing its reliance on clean energy sources, aiming to achieve 50 percent of total energy consumption by 2030.
He also noted the country’s determination to double its spending on investment and financing projects that operate in areas supporting sustainability.
The forum comes against the backdrop of the Eastern Province’s municipality recently unveiling a range of diverse investment opportunities, both permanent and temporary, across cities and governorates in the region.
The municipality had cataloged over 20,000 investment assets covering an area exceeding 116 million sq. m., serving as a database for significant growth in the region, as reported by SPA in March.
These encompass the development of waterfronts, plots, and infrastructure, as well as transportation, markets, and advertising billboards.
Additionally, opportunities for recreational and tourist centers are available. These also cover sports activities, factories, and exhibitions, along with warehouses, workers’ housing, and various tourist and commercial investment sites.