Future Projects Forum is Platform to Showcase over 3,000 Projects Worth SAR One Trillion
The Saudi Contractors Authority held a press conference in Riyadh today to provide an overview of the fifth edition of the Future Projects Forum 2023. The forum, scheduled to take place on May 22-23, 2023, in Riyadh under the patronage of the Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, will serve as a platform to showcase over 3,000 projects worth SAR one trillion.
During the conference, Eng. Zakaria bin Abdulrahman Al-Abdulqader, the Chairman of the Board of Directors of the Saudi Contractors Authority, expressed gratitude to the wise leadership for their continuous support and empowerment of the authority. He emphasized the leadership's commitment to involving the private sector in the national development process, in alignment with the objectives of the Kingdom Vision 2030.
Al-Abdulqader highlighted the significance of the forum's current edition, which aligns with positive economic developments in the Kingdom. These developments stem from the remarkable progress achieved by the Kingdom Vision 2030, as evidenced by a 7.8% increase in real GDP between 2021 and 2022. He underscored the contracting sector's fundamental role in driving the economy's growth and prosperity, given its close relationship with the Kingdom's diverse and comprehensive giant initiatives that support long-term sustainable growth and revenue diversification.
Ensuring financial sustainability is crucial to fostering a robust contracting industry capable of effectively executing major projects, promoting local content, and creating employment opportunities for citizens.
Abdulmajid Al-Rashoudi, the Secretary General of the Saudi Contractors Authority, emphasized that the forum aims to enhance coordination and integration among project owners, contractors, manufacturers, and suppliers. This collaboration will showcase the extensive range of opportunities and projects that the contracting sector requires as it serves as the executive arm of the ambitious Kingdom Vision 2030 initiatives and is a key driver across various sectors.
Al-Rashoudi further noted that the Future Projects Forum and the projects under review align with the implementation of the Kingdom Vision 2030. A mature, strong, and organized contracting sector is essential to support all sectors, including housing, transportation, logistics services, education, healthcare, tourism, entertainment, hospitality, real estate, energy, facilities, and manufacturing.
The forum aims to create a conducive environment for contractors from different specializations and categories to convene, exchange experiences, share perspectives, and envision the sector's future for the betterment of the country.
The fifth edition of the Future Projects Forum is sponsored by over 40 government and private entities and enjoys the support of several major national companies.