Shared vision meets ambition as French President Macron begins Saudi Arabia state visit

French President Emmanuel Macron’s arrival in Riyadh for a three-day state visit is a testament to the deepening ties between France and Saudi Arabia. (AFP)
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Updated 02 December 2024
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Shared vision meets ambition as French President Macron begins Saudi Arabia state visit

  • Visit to advance common goal of enhancing cooperation across various sectors in alignment with Saudi Vision 2030 and France 2030
  • Schedule includes high-level meetings, a visit to Riyadh Metro, Saudi-French Economic Forum and cultural stops in Diriyah and AlUla

RIYADH: French President Emmanuel Macron’s arrival in Riyadh for a three-day state visit is a testament to the deepening ties between France and Saudi Arabia. His visit, which follows an invitation from Crown Prince Mohammed bin Salman, reflects the shared ambition to enhance cooperation across various sectors and to align with Saudi Vision 2030 and France 2030.

The state visit underscores a partnership rooted in mutual respect and long-term collaboration. It is the latest of several high-profile exchanges, including Macron’s Gulf tour in December 2021, which concluded in Jeddah, and Crown Prince Mohammed bin Salman’s visit to Paris in June 2023, accompanied by a ministerial delegation. These meetings set the stage for France’s endorsement of Saudi Arabia’s successful bid to host Expo 2030, marking a milestone in bilateral relations.

Macron’s schedule includes high-level meetings, a visit to Riyadh Metro, the Saudi-French Economic Forum and cultural stops in Diriyah and AlUla. Elysee Palace views Saudi Arabia’s ongoing modernization and reforms as vital to the strengthening of the Kingdom’s position as a central player in a more interconnected Middle East. Accordingly, it supports Saudi bids for major global events, such as hosting Expo 2030, 2034 football World Cup and Winter Olympics, considering them as opportunities for deeper cooperation.




Two statues from the fifth to first century BC are displayed during the exhibition “AlUla: Wonder of Arabia” at the l’Institut du monde arabe in Paris on Oct. 7, 2019. (AFP)

The historical relationship between the two nations predates the Kingdom’s establishment. France opened its first consulate in 1830 in Jeddah in a part of the Arabian Peninsula that would later emerge as the Kingdom of Saudi Arabia. It was also one of the first countries to recognize Saudi Arabia as a sovereign state in 1926. Nearly a century later, the two countries share common values in international relations, including sovereignty, non-interference and respect for international law.

This partnership has evolved to address contemporary challenges. At the Summit for a New Global Financial Compact in June 2023, Saudi Arabia and France emphasized the need for an inclusive financial system to combat inequality, fund green transitions and achieve the UN Sustainable Development Goals. Their shared vision highlights the alignment of priorities between the two leaders, united in their commitment to development and innovation.

Through the centuries, France has positioned itself as a global power in defense, energy, engineering, diplomacy, art and culture. But modern France is also undergoing a transformation aimed at adapting its economy to new emerging industries, collectively termed the Fourth Industrial Revolution, empowering its youth, and addressing climate-related challenges.

This transformation into a greener, more technology-driven economy aligns with Saudi Arabia’s ambitions under Vision 2030. Both countries have prioritized clean energy, with Saudi Arabia emerging as a significant player in renewable energy. Its investments in solar, wind, and hydro projects are matched by its leadership in the circular carbon economy, all key pillars of its Saudi Green and Middle East Green Initiatives. These initiatives resonate with France’s own climate goals, fostering a natural synergy between the two nations.

FASTFACTS

• The number of French companies operating in Saudi Arabia has increased by more than 43% since 2020.
• French investors in KSA: Air Liquide, Airbus, Alstom, Crédit Agricole, L’Oréal, Sanofi Aventis, Thales, Total and Veolia.

Economic collaboration continues to flourish. French companies are integral to the Kingdom’s economic diversification efforts, spanning sectors such as energy, healthcare, retail and tourism. Organizations like Business France and the Saudi-French Business Council play pivotal roles in facilitating trade and investment. Initiatives like Vision Golfe, an annual gathering of French and Gulf Cooperation Council ministers, entrepreneurs and executives, further cement this partnership through dialogue and innovation by offering a platform to promote business cooperation in markets with high growth potential.

Security and stability remain central to this relationship, particularly in addressing global challenges such as the Ukraine conflict. France has sought Saudi support in navigating the war’s human and economic repercussions and its impact on global supply chains. Energy security has also emerged as a focal point, with Saudi Arabia supplying hydrocarbons to Europe while advancing its role as a clean energy provider and one of the world’s biggest investors in renewables like solar, wind and hydro.

Saudi Arabia’s investments in renewable energy resources are part of a broader environmental strategy, being implemented as part of Vision 2030, Saudi Green Initiative and Middle East Green Initiative, as well as the Kingdom’s adoption of the circular carbon economy




French foreign minister Jean-Marc Ayrault, center, visits the construction site of a section of the Riyadh Metro under the contract of French company ALSTOM in Riyadh on Jan. 24, 2017. (AFP)

Regional developments will also likely figure prominently in the discussions during Macron’s visit, particularly regarding Lebanon, which remains without a president after more than two years of political paralysis.

Saudi Arabia and France have both played roles in seeking solutions to Lebanon’s crises, so any initiatives taken by them in the wake of the devastating monthslong conflict between Israel and the military wing of Hezbollah will be eagerly awaited. Partnership and consultation with Saudi Arabia are viewed by France as crucial to restoring order to the chaos in Lebanon.

With regard to the Israel-Palestine conflict, Elysee Palace is pushing for a ceasefire, release of hostages and humanitarian protections in Gaza. To this end, it has emphasized the importance of Saudi contributions through the Arab League and the Organization of Islamic Cooperation to advance a two-state solution for Palestine.

In addition to these pressing issues, Macron’s visit coincides with Saudi Arabia hosting COP16, a global platform addressing desertification under the theme “Our Land. Our Future.” Alongside this, he will attend the One Water Summit, co-chaired by France and Kazakhstan, which aims to address water resource management challenges in the face of climate change. These events underscore the commitment of both nations to environmental sustainability, a cornerstone of their partnership.

The relationship between Saudi Arabia and France is of course not limited to defense, business and energy transition. Cultural collaboration also forms a significant part of the Franco-Saudi relationship. Saudi Arabia’s rich heritage, from AlUla to Diriyah and the Sarawat Mountains, offers a canvas for joint initiatives. At the heart of this is Villa Hegra, a cultural institution in AlUla, the ancient Saudi city, established through an intergovernmental agreement in 2021.

Villa Hegra was officially established following an intergovernmental agreement signed on Dec. 4, 2021, by Saudi Arabia’s Minister of Culture Prince Badr bin Abdullah bin Farhan Al-Saud and Jean-Yves Le Drian, the then French minister of foreign affairs and current president of Afalula, the French agency for the development of AlAula. Villa Hegra serves as an incubator for artists and creators, fostering dialogue and collaboration while exploring the socio-economic impact of cultural projects on local communities.




France’s Fabien Doubey and Paul Ourselin of TotalEnergies team ride during the first stage of the AlUla Tour cycling race in Al-Ula on Jan. 30, 2024. (AFP)

The duality of Villa Hegra, blending Saudi and French influences, mirrors the broader partnership between the two nations. Macron’s anticipated visit to AlUla will underscore the significance of these cultural ties and highlight Saudi Arabia’s emergence as a regional hub for art and heritage. This emphasis on culture complements the Kingdom’s efforts to diversify its economy, attract global talent and position itself as a tourism and investment destination.

Amid these developments, the relationship between France and Saudi Arabia remains firmly anchored in mutual respect and shared goals. Macron’s visit offers an opportunity to build on a foundation that spans nearly two centuries, reinforcing partnerships in defense, energy, culture and economic development. The discussions in Riyadh will likely set the tone for future collaborations, as both nations continue to navigate a rapidly changing global landscape.

After Macron concludes his stay, the focus will shift to the outcomes of this visit, particularly in areas like artificial intelligence, fintech and cybersecurity. France’s upcoming AI Action Summit in February 2025 presents another opportunity to align technological ambitions, ensuring that the partnership remains dynamic and forward-looking. Whether in addressing global challenges or celebrating shared heritage, the relationship between France and Saudi Arabia stands as a testament to the enduring power of collaboration.


Saudi Arabia developing unified ESG guidelines to raise reporting standards, official says

Updated 38 min 18 sec ago
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Saudi Arabia developing unified ESG guidelines to raise reporting standards, official says

  • Robust ecosystem will help prepare for sustainable future
  • Saudi companies need to improve accuracy of reports, says Sindi

RIYADH: Saudi Arabia is developing unified national environmental, social, and governance guidelines that aim to bring reporting up to international standards, an official said.

“By developing a robust ESG ecosystem, we can address current challenges while preparing for a more sustainable future,” Yara Sindi, general manager of monitoring, reporting, and policies for sustainability, and director of corporate sustainability at the Ministry of Economy and Planning said during a conference in Riyadh.

“With 30 percent of our top companies already reporting on sustainability and growing awareness globally, we have an incredible opportunity to capitalize on this momentum,” Sindi said.

Despite this progress, Sindi noted that the quality of these reports remains a challenge. Many are not aligned with international standards, resulting in weak ratings and limited investor engagement, she said.

While there are multiple existing national guidelines that have been developed by different jurisdictions, Sindi pointed out that there is still no unified approach.

She emphasized the need for Saudi companies to improve the accuracy and transparency of their sustainability reports.

“It’s essential to equip our corporates with the tools and frameworks they need to produce high-quality reports,” she said.

Sindi added that this will allow them to better translate their efforts into measurable outcomes that investors can trust.

To tackle these challenges, Saudi Arabia is developing its own national sustainability reporting standards.

“These guidelines, informed by international best practices, aim to provide a unified approach that simplifies reporting for companies while ensuring alignment with global expectations,” she added.

Sindi made the comments during a panel discussion titled “The Evolving Landscape of ESG: Trends, Challenges, and Opportunities” at the fifth World Environmental Social and Governance Summit in Riyadh this week.

She said that investors’ awareness of national ESG initiatives is not where it should be, due to the disconnect between companies and investors regarding sustainability efforts.

“We are working to bridge this gap by fostering conversations and knowledge-sharing between corporates and investors.”

Abdulaziz Al-Ghamdi, director of sustainability at Ardara, also participated in the discussion, emphasizing a critical aspect of proper ESG implementation.

“A lot is going on — the landscape on the policy and the implementation of the strategy — and there’s lots of effort and work to be thanked for.”

Al-Ghamdi added that where most companies fail to address proper ESG implementation strategy, and the way that it can aid decision-making, is in identifying, primarily, many different materiality topics and the sustainability mandate.

“That being said, ESG is a metric for those who have not been involved in it — to calculate, to measure, to track, and to assess the performance of a company towards this broader stakeholder engagement,” he explained.

Al-Ghamdi said that there is a lot of work that has been completed to do that, but there are significant challenges in implementing these kinds of ESG strategies.

Neil Atkinson, senior vice president and head of ESG and sustainability at Riyadh Bank, added further insights into how ESG opens new opportunities for Saudi Arabia’s rapidly transforming sectors such as construction, energy, and real estate.

“I’d say, with the mass transformation we have here in Saudi Arabia for all sectors, how ESG in collaboration with this transformation can provide new opportunities for us here in the Kingdom,” Atkinson said.

He identified four key trends shaping the ESG landscape from a banking perspective.

“The first one is the increasing growth of green, social, sustainability, and sustainability-linked instruments,” Atkinson said.

He noted that in the US, self-identified assets under management in ESG reached $6.5 trillion in 2024, reflecting a significant year-on-year rise.

Atkinson pointed to the scaling of clean energy technologies, particularly solar, hydrogen, and wind, as a second major trend.

The third trend Atkinson highlighted was the increasing demand from investors for measurable ESG metrics.

“There are innumerable macro studies that demonstrate the strong positive correlation between sustainability performance and financial performance,” he said.

This drives investor interest in companies’ ESG integration into corporate planning and strategy. Atkinson linked this trend to regulatory developments.

He added: “Sustainability performance equals financial performance, which equals financial stability. And that’s a trend we see continuing.”

Atkinson said that there are 3,000 Saudi companies impacted by the Corporate Sustainability Reporting Directive requirements.

“This will influence how businesses set up their exports and how we in the financial sector help companies transition to meet these requirements.”


Islamic coalition partners with UN to strengthen global efforts against terrorism

Updated 11 February 2025
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Islamic coalition partners with UN to strengthen global efforts against terrorism

RIYADH: The Islamic Military Counter-Terrorism Coalition and the UN Office of Counter-Terrorism signed a memorandum of understanding in New York to bolster international efforts against terrorism and promote global security and stability.

The MoU aims to unify efforts in addressing terrorist threats in line with the regulations of both parties, the Saudi Press Agency reported on Tuesday.

The coalition was represented by secretary-general, Maj. Gen. Mohammed Al-Moghedi, and the UN office by under-secretary-general Vladimir Voronkov.

The MoU will support joint counter-terrorism projects focusing on capacity-building, training, awareness initiatives, and tackling emerging challenges.

It also outlines strategic cooperation in areas such as specialized law enforcement training and tailored technical assistance to member states.

Al-Moghedi emphasized that the MoU highlights the coalition’s commitment to combating terrorism and enhancing international cooperation for global security.

He added that working with the UN will facilitate the exchange of expertise and strengthen member states’ abilities to address security challenges effectively.


Saudi fund grants $20m loan for Suriname power grid 

Updated 11 February 2025
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Saudi fund grants $20m loan for Suriname power grid 

RIYADH: The Saudi Fund for Development has signed its first concessional loan agreement with Suriname, allocating $20 million to expand the country’s electricity transmission and distribution networks.

The agreement was signed by Sultan Al-Marshad, the fund’s CEO, and Kermechend Stanley Raghoebarsing, Suriname’s minister of finance and planning, the Saudi Press Agency reported on Tuesday.

The project aims to expand the electricity network in the capital Paramaribo, and the city of Nickerie, improving energy accessibility and grid efficiency. 

It will also extend electricity to farms and factories across multiple regions, with transmission lines covering approximately 50 km, the SPA reported.

This agreement marks the first collaboration between the Saudi fund and Suriname, reflecting the former’s 50-year commitment to supporting developing nations’ economic, social, and developmental challenges.

The project aligns with the fund’s ongoing efforts to enhance infrastructure and economic prosperity worldwide, the SPA added.


Saudi Arabia becoming international creator hub, says philanthropist Dylan Page

Updated 4 sec ago
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Saudi Arabia becoming international creator hub, says philanthropist Dylan Page

DUBAI: Saudi Arabia is becoming an international hub especially for creators and influencers, social media news anchor and philanthropist Dylan Page said on Tuesday.

Speaking on the sidelines of the World Governments Summit in Dubai, Page told Arab News that he was looking forward to seeing Saudi Arabia’s next steps in the online space.

“I think their (Saudi Arabia) push to become much more international and bring lots of people in — I mean, signing Ronaldo alone was one of those things that got the entire world’s attention — I think it’s a huge opportunity to make it that international hub, especially for creators and influencers and stuff like that,” he said.

With more than 15 million followers across social media platforms, Page’s content focuses on news, humanitarian projects and pop culture.

Page, also known as TikTok’s “News Daddy,” started off as a janitor, but decided to follow his passion and pursue content creation full time.

Accumulating billions of views, Page grew his account in just 4 years and his life took a turn as he became one of the most followed news accounts on social media.

Ahead of his visit to Saudi Arabia, Page said he was looking forward to taking a tour of the Kingdom and hoped to visit the construction zone of The Line.

“This is what the world needs. We need to be able to look forward and have some inspiration again. Like Elon Musk always says, you know, we can’t just be focusing on the problems. You also need something to look forward to,” he added.

“Saudi Arabia, a lot of countries in the Middle East, are really pushing that. They’re the ones that are really bringing the inspiration. Like, what can we do in the future?”

Page is involved in substantial humanitarian work and advocacy. He collaborates with Share The Meal, a UN World Food Programme project that aims to end world hunger.

Share The Meal is raising funds for projects in Palestine, Syria, Lebanon, Yemen and elsewhere.

“At the start, it was one of those (projects) where we didn’t know much about it. So, we looked into it and we thought it was just going to be, like, working together one time to start off with. And then we kept on reaching out,” he said.

Page said he had been working with the scheme for two years. He plans to launch in-person projects to help raise more funds and be more involved.

The philanthropist will also be working on a new Ramadan campaign in collaboration with Share The Meal, his third such partnership with the UN project.


685 technology talents granted Saudi residency

Updated 11 February 2025
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685 technology talents granted Saudi residency

RIYADH: On Tuesday, the third day of the LEAP Tech Conference, the Saudi Ministry of Communications and Information Technology announced that 685 technology researchers had been granted distinctive residency in Saudi Arabia.

Specialists in 5G technology topped the list with 16 percent, followed by cloud computing specialists with 15 percent. These fields are the cornerstone of digital infrastructure, positioning the Kingdom as a leading country in adopting modern technologies, the Saudi Press Agency reported.

The distinctive residency was also granted to experts in artificial intelligence and machine learning, who constituted 12 percent.

These fields are a priority in the Kingdom due to their role in contributing to the development of many sectors such as healthcare, education and digital industries, according to SPA.

Also, experts in Big Data sets comprised 13 percent of those who received the distinguished residency.

The program also attracted professionals in smart technologies, financial technology, and advanced computing, fields essential in supporting the growth of the Kingdom’s digital economy.

Among the experts granted residency are researchers from the US, the UK, Australia, Germany, Brazil, India, Pakistan and Egypt.

The Kingdom’s residence visas allow skilled professionals in health and scientific competencies to apply for residency for up to five years depending on their monthly income.

Visa holders can reside in the Kingdom with their families, conduct business and own real estate properties, and cooperate with government agencies, among other advantages.