How Saudi Arabia and France aligned national visions for prosperity at Riyadh investment forum

France’s President Emmanuel Macron noted synergies between Saudi and French visions. (AN Photo)
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Updated 03 December 2024
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How Saudi Arabia and France aligned national visions for prosperity at Riyadh investment forum

  • Deals struck at Saudi-French Investment Forum deemed an important milestone in bilateral relations
  • French President Emmanuel Macron highlights the synergy between Saudi Vision 2030 and France 2030

RIYADH: The Saudi-French Investment Forum that took place in Riyadh on Tuesday marked an important milestone in bilateral relations, with the signing of multiple memorandums of understanding and investment agreements worth billions of dollars.

Held to coincide with the state visit of French President Emmanuel Macron, the event brought together officials, policymakers, and business leaders from both nations, aiming to align their national visions for a prosperous future.

In his opening remarks, Saudi Minister of Investment Khalid Al-Falih welcomed French stakeholders, emphasizing the strong ties between the two countries. He lauded Macron as a “good friend of the Kingdom, leading a strong delegation.”  

Al-Falih highlighted the enduring economic partnership, the breadth of sectors covered, and the presence of French companies in Saudi Arabia. “Every time there is an event involving Saudi Arabia and France, there is a special magic and attraction,” he said, noting France’s early support for Riyadh’s bid to host EXPO 2030.




In his opening remarks, Saudi Minister of Investment Khalid Al-Falih lauded Macron as a “good friend of the Kingdom, leading a strong delegation.” (Supplied)

Among the agreements signed were collaborations with French oil giant TotalEnergies and Al Jumeih Energy and Water for the Rabigh 2 solar power plant. Additionally, power purchase agreements for the Al Masa’a and Al Hnakia 2 solar projects involved EDF, SPIC, and the Saudi Power Procurement Company.  

Another major deal involved the Public Investment Fund, Saudi Investment Recycling Company (SIRC), and Veolia, focusing on waste management and recycling initiatives in the Kingdom.  

In his own remarks at the Forum, Macron highlighted opportunities for collaboration in clean energy, mobility, technology, culture, and artificial intelligence, noting the synergy between Saudi Vision 2030 and France 2030.

“For all the French business-people and investors, I want to encourage them to invest more in this country because investing here is investing in the cornerstone of the whole region,” he said.




The Saudi-French Investment Forum brought together officials, policymakers, and business leaders from both nations, aiming to align their national visions for a prosperous future. (AN Photo)

On Monday, Macron and Crown Prince Mohammed bin Salman signed a strategic partnership aimed at boosting cooperation in defense, energy, and AI. 

The partnership aims at “multiplying co-operation and concrete achievements in all areas,” the Elesee Palace said in a statement. It also includes plans to co-host a Summit for Action on AI in Paris in February, according to the Elysee.

Tuesday’s Forum built on a long history of cooperation, highlighted by reciprocal delegations at major events like VivaTech in Paris and Saudi Arabia’s LEAP conference. Al-Falih emphasized the shared history, values, and mutual respect underpinning the partnership.

“Saudis love anything French — French design, French furniture, French technology,” he said.  




A major deal involving the Public Investment Fund, Saudi Investment Recycling Company (SIRC), and Veolia, focusing on waste management and recycling initiatives in the Kingdom, was signed during the event. (AFP)

Al-Falih noted that Saudi Arabia, the Gulf Cooperation Council’s fastest-growing economy, achieved 3 billion euros in French investment in 2023. France is the Kingdom’s second-largest foreign investor.

“We are ahead of targets in overall investment, and (France) was a significant part in achieving our targets,” said Al-Falih.

“The value of our trade relations exceeded 10 billion euros last year; and with roughly 3 billion euros of French investment into the Kingdom in 2023, and the nation’s accumulated foreign direct investment in Saudi Arabia reached 17 billion euros.”

He added: “We are proud to be hosting in Saudi Arabia close to 500 leading French companies. Significantly, around 30 of these companies have established their regional headquarters here in Riyadh because their target is not just the Saudi market but to use Saudi Arabia as a platform to reach further beyond.

“We stand today as the world is changing so fast in a new era of partnership. There is alignment of our interests and complementarity in our capabilities. And we also have shared worldviews that are lifting this partnership to a new height, culminating in the signing of our strategic partnership.”




French President Emmanuel Macron speaks during the Saudi-French Investment Forum during an official visit in Riyadh on December 3, 2024. (AFP)

Green energy was a central theme, with agreements supporting renewable energy projects and emphasizing sustainability’s role in economic growth. French biopharma leader Sanofi also signed agreements to expand its healthcare projects in Saudi Arabia.  

French expertise continues to play a significant role in Saudi Arabia’s development, from Riyadh Metro to the innovative tram systems in AlUla. The historic region, home to Saudi Arabia’s cherished heritage sites, is set to welcome Macron on Wednesday, reflecting ongoing cultural cooperation led by the French Agency for AlUla Development (Afalula).

French experts have been deeply involved with development in the historic region of northwestern Saudi Arabia. “Sharaan” by Jean Nouvel and Villa Hegra by Lacaton and Vassal are just two examples of cultural and heritage cooperation.

Tuesday’s Forum hosted six panels, featuring 50 keynote speakers, and facilitated hundreds of bilateral meetings. Themes included net-zero policies, urbanization, technology, entertainment, and fostering innovation.




The Saudi-French Investment Forum hosted six panels, featuring 50 keynote speakers, and facilitated hundreds of bilateral meetings. (Supplied)

French Minister Delegate for Industry Marc Ferracci underscored the Forum’s importance in strengthening ties amid Saudi Arabia’s unprecedented transformation.

“The Kingdom is undergoing one of the biggest transformations in recent history,” Ferracci told the Forum. “And as the second largest investor in the Kingdom, France supports the Kingdom in different sectors.

“Saudi Vision 2030 and France 2030 are transformative blueprints designed to tackle the challenges of our time, creating sustainable growth for the future, and the development of smart inclusive cities,” he added.

The objectives of France’s National Vision include achieving carbon neutrality and cooperation on green energy.

Ferracci added that France views Saudi Arabia as a vital partner, emphasizing shared goals of carbon neutrality and innovation. “The forum is a testament to our economic relationship and an opportunity to shape the future of our partnership,” he said.  




Macron was received at Al-Yamamah Palace in Riyadh by Crown Prince Mohammed bin Salman on Monday. (X/@Bandaralgaloud)

The French economy is viewed as a gateway, offering access to the wider European market, making it an attractive investment destination.

“The relationship between Saudi Arabia and France is not new, rather dates back to centuries not decades,” Prince Faisal bin Abdulaziz bin Ayyaf, the mayor of Riyadh, told the Forum.

He highlighted historical milestones, including the meeting between Saudi King Faisal and French President Charles de Gaulle in 1967, which marked the debut of stronger ties, evolving through personal contacts and visits at the highest levels.

King Khalid visited France in 1978 and 1981, and King Fahd visited twice when he was crown prince, in 1975 and 1981.




Prince Faisal bin Abdulaziz bin Ayyaf, the mayor of Riyadh, highlighted historical milestones, including the meeting between Saudi King Faisal and French President Charles de Gaulle in 1967, which marked the debut of stronger ties. (AFP)

“Saudi Arabia’s Vision 2030 represents an ambitious roadmap towards a more prosperous and sustainable future,” said Prince Faisal. 

“Riyadh, as the capital of the Kingdom, plays a pivotal role in achieving that Vision. The city is undergoing an unprecedented economic developmental transformation. The city today stands as a workshop … the future is greater than what we can imagine.”

Prince Faisal highlighted the examples of King Salman Park, which aspires to be the largest urban park in the world, and New Murrabbaa, which is set to become the world’s largest urban development.

“It’s not our journey alone,” said Prince Faisal. “We invite everyone to join.”

 


KSrelief distributes food, dates in Bangladesh, Pakistan, Mali and Malaysia

Updated 08 February 2025
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KSrelief distributes food, dates in Bangladesh, Pakistan, Mali and Malaysia

RIYADH: The King Salman Humanitarian Aid and Relief Center (KSrelief) recently distributed food and dates for residents in Bangladesh, Pakistan, Mali and Malaysia, state news agency SPA reported.

In Bangladesh, KSrelief handed out 595 food parcels in several regions to residents affected by floods and cyclones. The recent initiative benefited 2,975 individuals.

In the Upper Chitral District of Pakistan’s Khyber Pakhtunkhwa, the Saudi aid agency gave out 492 food boxes, which benefited 3,546 individuals mostly affected by recent floods.

KSrelief also gifted 25 tonnes of dates to Malaysia and another 50 tonnes to Mali as part of the Kingdom’s support to ‘brotherly and friendly nations in various fields.’

In the southern Gaza Strip, KSrelief delivered 25 truckloads medical supplies to hospitals and health centers to enhance their capacities amid the difficult humanitarian conditions facing the sector.

The Saudi Center for Culture and Heritage, KSrelief's executive partner in Gaza, received the supplies and has begun distributing them.


Seasonal rains transform Saudi Arabia’s Rafha and Hanakiyah governorates into verdant pastures

Updated 08 February 2025
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Seasonal rains transform Saudi Arabia’s Rafha and Hanakiyah governorates into verdant pastures

  • Scenes of camel herds grazing provide a picturesque natural spectacle, showcasing the region's serene beauty

RIYADH: Seasonal rains have turned some of Saudi Arabia’s otherwise dry lands into lush green expanses, providing breeders with forage for their livestock and attracting tourists seeking a scenic escape.

Among these places is Al-Hanakiyah governorate in the western region of Madinah, where the mountains and plains have blossomed into vibrant green scenery, the Saudi Press Agency reported.

Scenes of camel herds grazing provide a picturesque natural spectacle. (SPA)

“These rejuvenated landscapes provide perfect spots for visitors to unwind and engage in a variety of outdoor activities and hobbies,” the SPA said in one report.

Scenes of camel herds grazing provide a picturesque natural spectacle in a show of the region’s serene beauty.

Another such site is Zubala, south of Rafha governorate in the Northern Borders region, which is currently teeming with sheep grazing against the backdrop of the town’s historical landmarks.

A view of the grazing grounds of Zubala. (SPA)

Zubala, an important stop on the ancient Zubaydah Trail, has features of historical significance and natural beauty. 

Aside from providing grazing grounds for sheep farmers, the flourishing pastures also attract families and hikers seeking to enjoy the rural scenery. 

The village itself, with its preserved monuments, offers a glimpse into its past as a vital station on the Zubaydah pilgrimage trail. 


How Saudi Arabia is advancing clean combustion while meeting global energy demand

Updated 08 February 2025
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How Saudi Arabia is advancing clean combustion while meeting global energy demand

  • Kingdom’s carbon capture initiatives are cutting emissions and boosting oil recovery, paving the way for a sustainable energy future
  • KAUST has partnered with major stakeholders like SEC, the Ministry of Energy, and NEOM to develop innovative carbon capture solutions

RIYADH: Saudi Arabia’s oil and gas industry is increasingly adopting carbon capture technologies to reduce industrial emissions while enhancing oil recovery. This approach addresses environmental concerns while supporting global demand for cleaner, more reliable energy.

Carbon capture technologies are methods to trap and store carbon dioxide — or CO2 — emissions before they reach the atmosphere, helping to reduce greenhouse gases from industrial processes, power plants and other sources.

As a leading oil producer, Saudi Arabia acknowledges its responsibility to combat climate change while maintaining energy security. Its efforts align with Vision 2030, which prioritizes economic diversification and reducing reliance on oil, paving the way to net-zero emissions by 2060.

And in line with this target, the Kingdom aims to reach 44 million tonnes per annum of carbon capture, use and storage capacity by 2035.

To this end, institutions such as the King Abdullah University of Science and Technology are making significant advancs in carbon capture and storage, driving innovation in sustainable energy solutions.

“Saudi Arabia’s investment in carbon capture technologies is driven by its Vision 2030 strategy, which aims to diversify its economy and reduce its reliance on oil,” William L. Roberts, a professor of mechanical engineering at KAUST and director of the Clean Combustion Research Center, told Arab News.

“Carbon capture enables Saudi Arabia to reduce emissions from its hydrocarbon sector while supporting global demand for cleaner, affordable, reliable energy.”

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KAUST has partnered with major industry stakeholders, including the Saudi Electricity Company, the Ministry of Energy and NEOM, to develop innovative carbon capture solutions, including a 30-tonne-per-day CO2 capture initiative at the Duba power plant.

The pilot project, launched in 2022, aims to capture 30 tonnes of CO2 daily from SEC’s Green Duba Integrated Solar Combined Cycle power plant at NEOM.

The integration of captured CO2 for enhanced oil recovery offers an important opportunity for the oil and gas sector. In this process, supercritical CO2 is injected into reservoirs, changing the physical properties of residual oil and making extraction easier.

This not only boosts production efficiency but also supports a more sustainable approach to energy extraction.

The Carbon Dioxide Enhanced Oil Recovery Demonstration Project at the Uthmaniyah oil field is a prime example of this technique. Located in the Eastern Province, the large-scale project captures and stores about 800,000 tonnes of CO2 annually from a natural gas production facility, with CO2 transported via a 85-km pipeline to the injection site.

Saudi Aramco's project at the Uthmaniyah oil field in Al-Ahsa captures and stores about 800,000 tonnes of CO2 annually from a natural gas production facility. (Aramco photo)

Roberts of KAUST stressed the importance of careful management in these projects. “Monitoring CO2 injection to prevent leakage and optimizing injection rates is crucial for balancing production efficiency with environmental safety,” he said.

And although the potential benefits of carbon capture are clear, the industry faces significant challenges, including high costs and scalability.

A 2025 study published in the Carbon Capture Science and Technology journal shows that the average CO2 capture cost is $69 per tonne, with significant variability across industries. Ammonia production is the most cost-efficient, at $11 per tonne, due to its high CO2 concentration, while smaller-scale operations can face costs as high as $189 per tonne.

Emphasizing the need for a collective effort to overcome challenges, Roberts said that “collaborative research and pilot projects help to drive innovation and enable scalable, economically viable solutions for industrial carbon capture applications.”

Looking ahead, further advances in carbon capture technologies are on the horizon.

KAUST’s cryogenic carbon capture project is a promising technology that removes CO2 at low temperatures, offering high efficiency and scalability. (KAUST photos)

KAUST’s research group is actively exploring cryogenic carbon capture, a promising technology that removes CO2 at low temperatures, offering high efficiency and scalability.

Roberts said that relying on a single technology would not be enough to meet ambitious environmental goals.

“A diverse portfolio of solutions — including cryogenic capture, direct air capture, advanced membranes and chemical absorption — will be necessary to address emissions across various sectors,” he said.

This approach will lead to more flexible, cost-effective and sustainable carbon capture solutions, significantly reducing CO2 emissions.

KAUST plays a crucial role in educating the next generation of engineers and scientists to advance carbon capture technologies. The university offers specialized programs in sustainability and carbon capture, equipping students with the skills needed to address key challenges in CO2 capture, storage and use.

DID YOU KNOW?

• Industrial sources are responsible for nearly 30 percent of global greenhouse gas emissions.

• Carbon capture can reduce up to 90 percent of CO2 emissions from industrial sources.

•. Saudi Arabia aims for 44 million tonnes of carbon capture, use and storage capacity a year by 2035.

Roberts said that a holistic approach was key to fostering innovation and ensuring the successful implementation of carbon capture solutions.

“While carbon capture is essential for reducing industrial emissions, it must be part of a broader, multi-technology strategy to meet global emissions reduction targets,” he said.

Roberts advises policymakers and industry leaders to “focus on a technology-driven approach that prioritizes scalability, efficiency and cost-effectiveness.”

As a leading oil producer, Saudi Arabia acknowledges its responsibility to combat climate change while maintaining energy security. (Aramco photo)

He also emphasized the need for investment in experimentation and predictive modeling to avoid potential pitfalls at large scale and called for continued support for research into innovative CO2 capture methods.

“There isn’t one answer, and we need to identify as many solutions as possible,” he said.

Roberts advocates using pilot projects as platforms to optimize technologies before large-scale implementation.

He stressed the need for collaboration between research institutions, industry and government to align policies with technological advancements.

In addition, he said that establishing clear regulatory frameworks that incentivized carbon capture deployment was crucial to making these technologies economically viable and integrating them into industrial practices.


 

 


Indian diaspora provides key link between India and Saudi Arabia, says former foreign minister

Updated 08 February 2025
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Indian diaspora provides key link between India and Saudi Arabia, says former foreign minister

  • Salman Khurshid, president of the India Islamic Cultural Center, visits Riyadh to discuss with Indian expatriates their experiences of living and working in the Kingdom
  • Akhtarul Iman, of the Bihar Legislative Assembly, says authorities in India have failed to address the concerns of Indian Muslims in an appropriate manner

RIYADH: Salman Khurshid, president of the India Islamic Cultural Center and his country’s former foreign minister, said Indians living and working in Saudi Arabia play a key role in relations between the two countries.

He added that he and his team are working on implementing changes and reforms at the cultural center to improve the support and services it provides for all Indians, not only in India but in other countries.

Khurshid, who was elected president of the center in August last year, was visiting Riyadh for an event on Friday during which he discussed with Indian expatriates their experiences of living and working in the Kingdom.

Former Indian Foreign Minister and president of the India Islamic Cultural Center Salman Khurshid during media interaction in Riyadh on Friday. (Supplied)

“I am in here to interact with the Indian community and discuss the ground realities,” he said. “They are keen to know about the developments in India.

“I am very pleased that the IICC is in focus, people are looking at what possibilities there are, and how much we can develop the organization as a hub that links different parts in the world and connects with how important it is for that dimension of the Indian culture and the Indian society to be understood in the world.

“The Indian diaspora in Saudi Arabia can provide an important bridge between the people of India and the people of Saudi Arabia, and this has been an important aspect for successive governments in India.

“We will brainstorm on key issues and ground realities, we will talk about those issues and what positive contribution can be made by people who have left their homes and families to come out into the world and make a mark with their presence here in the Kingdom.”

Prime Minister Indira Gandhi laid the foundation stone of the center’s headquarters in New Delhi on Aug. 24, 1984. The aim of the organization was to promote understanding among people of different religions and aid the cause of national integration. It was inaugurated by Congress party president Sonia Gandhi on June 12, 2006.

Regarding possible changes and development of the organization, Khurshid said there are plans to establish branches in states across India, and beyond, to support the decentralization and democratization of the center.

“It’s not just about chapters in different parts of India but also in other countries, as IICC overseas chapters, (for example) in Saudi Arabia,” he added.

“My view is that there should be chapters and we should support those chapters, but if people want fully fledged centers to be set up in states, I would say they should be affiliated centers supported by local members. Members from Delhi cannot control centers in the states, it must be truly democratic.”

Former Indian Foreign Minister and president of the India Islamic Cultural Center Salman Khurshid, AIMIM Bihar president Akhtarul Iman in Riyadh for an interaction with the Indian diaspora. (Supplied)

Khurshid was joined at Friday’s event by Akhtarul Iman, president of the All India Majlis-e-Ittehad-ul-Muslimeen party, who represents the constituency of Amour in the Bihar Legislative Assembly. He said it is the responsibility of the government and state authorities to protect the lives, property, honor and safety of all Indian citizens, yet Muslims have increasingly been targeted by those who wish to spread fear among them.

In the past decade, he added, there has been an increase in cases of injustice and atrocities committed against Muslims under the rule of Bharatiya Janata Party-led central and state governments, and the leaderships of both the Rashtriya Janata Dal and the Janata Dal (United) parties have also failed to address these issues in an appropriate manner.

“They ask Muslims for support but fail to address their concerns,” Iman said, adding that his party is committed to ensuring that the grievances of all Indian Muslims who have faced problems since 2014 are addressed.
 


Renowned Ramsi tomatoes still a staple on Saudi tables

Farmer Saeed Sulail is pictured here at a Ramsi tomato farm in Qatif. (AN photo by Hind Alkhunaizi)
Updated 07 February 2025
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Renowned Ramsi tomatoes still a staple on Saudi tables

  • Local farmers have been growing the crop for centuries
  • Used in salads, stews, sauces, and the famous Kabsa dish

DHAHRAN: Nestled in the Eastern Province of the Kingdom, Qatif is celebrated for its fertile soil, inviting climate, and rich agricultural heritage.

One of the region’s most prized crops is the Ramsi tomato, which is native to Saudi Arabia.

It is also the main product of Mohammad Al-Ghawy’s Ramsi Tomato Farm, which spans 45,000 sq. meters in Al-Awamiyah and produces other seasonal delights including local watermelon and cantaloupe.

Ramsi tomatoes have been a staple in Qatif for centuries due to the region’s significant role as a major agricultural producer. (AN photo by Hind Alkhunaizi)

The succulent tomatoes are celebrated nationwide for their vibrant color, firm texture, and sweet-tangy flavor.

They are grown using traditional farming methods, which involve careful nurturing and attention to detail.

Saeed Sulail, a farmer from Qatif, told Arab News: “In terms of the harvest, the growing season lasts for more than three months, from December to the beginning of April.”

FASTFACTS

• The succulent tomatoes are celebrated nationwide for their vibrant color, firm texture, and sweet-tangy flavor.

• Despite their popularity, production faces challenges, including climate change, desertification, water scarcity, and soil degradation.

He added: “If we add the duration of planting seeds and nurseries (the greenhouses), it is approximately eight months. The soil in Qatif is enriched with nutrients and minerals that foster robust growth.”

He highlighted the importance of proper fertilization. “These are the industrial fertilizers that trees and plants need to grow well, but they must be in specific ratios for each stage of the plant’s life.”

The result of this labor of love is a delicious product packed with nutrients and antioxidants.

Ramsi tomatoes have been a staple in Qatif for centuries due to the region’s significant role as a major agricultural producer. Their popularity has spread throughout the Kingdom, making them a staple in many Saudi households.

Today, Qatif remains the primary producer of Ramsi tomatoes, with many local farms dedicating their land to their cultivation. Ramsi tomatoes hold a special place in Saudi culture, particularly during the summer months when they are in season.

They are often served as a refreshing side dish, sliced and dressed with olive oil, salt and pepper.

In many households, Ramsi tomatoes are used in traditional dishes including salads, stews and sauces, as well as the famous Saudi Arabia dish, Kabsa, which consists of meat, spices and vegetables.

Despite their popularity, production faces challenges, including climate change, desertification, water scarcity, and soil degradation.

Local farmers and authorities are working together to implement sustainable farming practices, such as drip irrigation and crop rotation.