RIYADH: US-based Pacific Green Technologies Inc. (PGTK) has signed a joint venture agreement with Amr Khashoggi Trading Co. Ltd. (Amkest Group) to incorporate a company in Saudi Arabia for the sale of Pacific Green environmental technologies.
Amkest Group, founded in 1983, has a history of success in the Kingdom. Its diverse business portfolio includes construction material production and supply, property development and consulting services.
Commenting on the partnership, Scott Poulter, PGTK’s CEO, said: “Saudi Arabia under its Vision 2030 strategic framework, which calls for 9.5 GW of the Kingdom’s energy to be supplied through renewables by 2030, is set to undergo rapid growth.”
Poulter added: “Pacific Green’s technologies, particularly in the solar power, desalination and battery energy storage system sectors, provide the perfect solution to the Kingdom’s growing demand, and we are excited to leverage Amkest Group’s hard-earned relationships to contribute toward the goals of Vision 2030.”
Amr Khashoggi, chairman of Amkest Group, said: “We believe the combination of our experience and knowledge of the Saudi market, coupled with Pacific Green’s portfolio of technologies, provides the foundation for an incredible partnership and the opportunity to offer multiple complementary technologies.”
Pacific Green is focused on addressing the world’s need for cleaner and more sustainable energy. Its expansion into Saudi Arabia through this joint venture is no surprise since the Kingdom is aiming for 30 percent of its energy to come from renewable sources by 2030.
The deal comes on the back of an expectation that Saudi Arabia will attract more than $20 billion in investments in renewables over the next decade. This forecast was made by the CEO of Saudi National Grid in October, according to a report by S&P Global.
Saudi Arabia’s Amkest Group signs deal with US green energy firm
https://arab.news/6n94a
Saudi Arabia’s Amkest Group signs deal with US green energy firm
- Its expansion into Saudi Arabia through this joint venture is no surprise since the Kingdom is aiming for 30 percent of its energy to come from renewable sources by 2030
Egypt defies African FDI trend with inflows of $11bn in 2025: UNCTAD
RIYADH: Egypt emerged as Africa’s top destination for foreign direct investment in 2025, attracting an estimated $11 billion in inflows in a year marked by declining investment across the continent.
According to UNCTAD’s latest Global Investment Trends Monitor, the North African country ranked ahead of other major African economies despite a sharp regional slowdown.
The performance underscores Egypt’s relative resilience at a time when foreign investment into Africa has normalized following an unusually strong 2024, which UNCTAD said was inflated by a single large project. As a result, the 2025 data reflects a return to more typical investment levels across the continent.
“Among African economies, inflows to Angola reached an estimated $3 billion, marking a return to positive values after nine consecutive years of net divestments,” the report stated.
It added: “Egypt, with inflows of $11 billion, remained the largest FDI host country in Africa.”
While Egypt solidified its position as Africa’s leading FDI host, other notable movements on the continent included Mozambique, where inflows surged 80 percent to $6 billion, driven by renewed activity in major liquified natural gas projects.
Angola also saw a positive shift, recording an estimated $3 billion in FDI after nine consecutive years of net divestments.
UNCTAD noted that Egypt’s strength extended beyond headline inflows, with the country also contributing to an increase in greenfield investment activity across Africa. While the number of greenfield projects fell globally and across most lower-income economies, Africa recorded a 5 percent increase in project numbers in 2025, supported in part by growth in Egypt and Côte d’Ivoire.
Globally, FDI flows rose by 14 percent in 2025 to approximately $1.6 trillion, though growth was heavily concentrated in developed economies, which saw a 43 percent increase.
In contrast, flows to developing economies declined by 2 percent, with the least developed countries particularly affected; three-quarters experienced stagnant or falling investment.
The report highlighted that new project announcements remained weak globally amid elevated policy uncertainty, with international project finance declining for the fourth consecutive year.
Looking ahead, UNCTAD warned that geopolitical tensions, regional conflicts, and economic fragmentation could continue to suppress real investment activity in 2026, even as financing conditions are expected to ease.
For Africa, sustaining FDI inflows will require navigating persistent challenges such as financing constraints, risk perceptions, and structural vulnerabilities.
