Saudi Arabia Initiates Collaboration with Swiss Fund to Boost Zero-Emissions Investments
Riyadh, The Gulf Observer: Saudi Minister of Investment, Eng. Khalid Al-Falih, has unveiled a strategic collaboration with a Swiss fund, aimed at spearheading financing initiatives in the debt market to bolster investments in zero-emissions projects. This landmark partnership is set to mobilize billions of euros, reaffirming Saudi Arabia’s commitment to emerging as a premier destination for sustainable investment. The announcement was made during a Saudi-Swiss round table meeting in Riyadh, where Minister Al-Falih highlighted the Kingdom’s ambitious goal of positioning itself as a global hub for logistics, finance, and industry.
Attended by distinguished figures including Swiss Federal Councillor Guy Bernard Parmelin and Saudi Minister of Industry and Mineral Resources Eng. Bandar Alkhorayef, the meeting underscored the multifaceted collaboration between the two nations. In addition to investments in zero-emissions initiatives, the partnership extends to the insurance industry, anticipating substantial growth in the coming years.
Minister Al-Falih underscored the immense potential for infrastructure development, shedding light on Saudi Arabia’s plans for mega projects with over $3.3 trillion allocated across sectors such as airports, factories, and green energy networks. A significant portion, approximately $1.8 trillion, is earmarked for global investors through bids, emphasizing the Kingdom’s commitment to upholding the highest standards for these transformative projects.
The announcement resonated with the deep-rooted bilateral relations between Saudi Arabia and Switzerland, poised to celebrate a century of cooperation by 2027. Against the backdrop of the Kingdom’s Vision 2030, Saudi Arabia aims for an investment volume of $3.3 trillion by 2030, setting ambitious targets to diversify the economy across 12 industrial sectors.
Eng. Bandar Alkhorayef emphasized the ample opportunities for future cooperation with Swiss sectors, highlighting Saudi Arabia’s pivotal role as a key economic bridge connecting the Middle East and Africa region with neighboring countries. He outlined the Kingdom’s comprehensive strategy to diversify the economy, encompassing three main groups focusing on national security, maximizing natural resources, and pioneering future industries such as space and renewable energy.
The collaboration with the Swiss fund marks a pivotal step in Saudi Arabia’s journey towards sustainable development, aligning with global efforts to address climate change and promote responsible investment practices. As the Kingdom progresses on its transformative path, partnerships of this nature contribute significantly to the realization of its ambitious economic and environmental goals.
