Crown Prince Mohammed bin Salman has approved plans to develop an ambitious new tourism project between the cities of Umluf and Alwajh on Saudi’s Red Sea coast backed by the Kingdom’s Public Investment Fund.
The project is in line with Saudi Vision 2030 which seeks to diversify the economy and increase tourism industry employment. It is reported that the developed area will cover some 34,000 square kilometres, and be governed by laws in line with “international standards.”
Construction of the new resorts is due to start in late 2019. The first phase of the project including a new airport and luxury hotels and housing is due to be completed by the end of 2022.
SBJBC UK was pleased to welcome some 50 UK companies to its Doing Business in Saudi Arabia Workshop on 18 July, kindly supported by British Offset and Strategy International.
The event opened with updates on Saudi Vision 2030 by William Scott Jackson, Chairman of Oxford Strategic Consulting (click here for presentation) and Hashim Alawadi, CEO of Tech Invest Com and SBJBC Deputy Co-Chair. This was followed by two lively panel discussions on opportunity sectors for UK companies, and practicalities of doing business in the Kingdom. Speakers included SBJBC members Roger Cruickshank (Atkins Acuity), Martyn Best (Cultural Innovations), Frank Edwards (Pearson), Ben Cunnington (TPP) and Glenn Lovell (Clyde & Co).
The workshop coincided with the visit of a number of Saudi SBJBC board members to London who also attended SBJBC’s summer networking reception on 19 July kindly hosted by SBJBC member Trowers & Hamlins.
SBJBC member DLA Piper hosted a stimulating debate on the Future of the City at the Museum of London on 21 June. Amongst the panellists were Lord Alistair Darling, former Chancellor of the Exchequer, Tim Harford, economist and Financial Times columnist and Sophie Hackford, futurist and business innovator. Speakers expressed confidence in the future of London as an economic powerhouse and worldwide hub for innovation, notwithstanding some Brexit concerns.
HRH Mohammed bin Salman
By Royal Decree on 21 June King Salman appointed his son Prince Mohammed bin Salman as Crown Prince and Deputy Prime Minister, replacing former Crown Prince Mohammed bin Nayef. Prince Mohammed bin Salman retains his position as Minister of Defence and Head of the Council for Economic and Development Affairs.
SBJBC member Amec Foster Wheeler announced on 1 June 2017 that it had beenawarded a five year contract for major oilfield development by Saudi Aramco. The contract covers facilities required as part of the integrated oil and gas expansion of the Marjan offshore and onshore oilfield in the Eastern province of Saudi Arabia
The Saudi British Joint Business Council (SBJBC) is delighted to announce it will be hosting a workshop on Doing Business in Saudi Arabia which will take place at SBJBC’s Grafton Street offices on 18 July.
The workshop will focus on Saudi Vision 2030 opportunities for UK companies and offer sector specific information across a broad range of industries. The session will also offer more general, practical information on doing business in Saudi Arabia.
Places are strictly limited. Please see our programme for further details. Contact email@example.com to reserve your space or for further information.
SBJBC UK Director Chris Innes Hopkins participated in an interesting panel discussion at St Anthony’s College in Oxford on 20 May which addressed barriers and opportunities facing SMEs and the role of family businesses in the GCC. Participants welcomed the increased employment of women in the GCC private sector, and the rapid development of creative industries.
The event was organised by the Oxford Gulf & Arabian Peninsula Studies Forum, and was opened by HE Yousef Ali Al-Khater, Ambassador of Qatar to the UK. A large number of Saudi and GCC post-graduate students and entrepreneurs attended.
Dr Khalid Alkhater, Qatar Central Bank; Oliver Cornock, Oxford Business Group; Chris Innes Hopkins, SBJBC UK; and Prof. William Scott Jackson, Oxford Strategic Consulting participate in Panel Session on Private Sector Development in GCC
Participants included local students, scholars and entrepreneurs.
Some 40 Saudi and British members attended SBJBC’s Biannual Meeting on 11 May at SBJBC UK member Clyde & Co’s offices in the City of London. There was a lively discussion of opportunity sectors under Saudi Vision 2030, including presentations by Pearson and Oxford Strategic Consulting.
Also discussed were progress updates on SBJBC’s PPP lessons learned paper, follow up to the SME partnership forum and post-Brexit trade development. The meeting was followed by an infrastructure focussed dinner hosted by the Institute of Civil Engineers in partnership with SBJBC member Pinsent Masons. A summary meeting record will be available to members shortly.
Baroness Symons making opening remarks at the beginning of the Biannual Meeting.
Sheikh Nasser and Baroness Symons engaging in discussion over dinner, at the Institution of Civil Engineers.
A Saudi SBJBC Delegation led by Sheikh Nasser Al Mutawa, Co-Chair, visited Sheffield on 10 May. The Delegation had a tour of the Advanced Manufacturing Research Centre at the University of Sheffield and a presentation on additive manufacturing. They also visited Cutlers Hall and attended a business lunch hosted by SBJBC member DLA Piper. The Delegation were impressed by the warm welcome they received, the city’s manufacturing strengths and opportunities for collaboration in a number of sectors.
SBJBC Saudi and UK Delegation at the Advanced Research Manufacturing Centre (AMRC), Sheffield
Petra Billing, Partner at DLA Piper; Richard Edwards, Master Cutler; Hashim Alawadi, SBJBC Deputy Co-Chair; Sheikh Nasser, SBJBC Co-Chair; and John Mothersole, Chief Executive, Sheffield City Council, at DLA Piper, Sheffield
SBJBC members played a prominent role in the UK-GCC PPP conference which was opened by Dr Liam Fox MP, Secretary of State for International Trade and Rashid Al Zayani, GCC Secretary General at Lancaster House on 19 April. Saudi and other GCC speakers then outlined their national transformation plans.
Baroness Symons, SBJBC UK Co-Chair, moderated a lively panel session on ‘PPP in the Gulf and the UK.’ John Davie, Chairman of Altra Capital, presented a summary of a PPP Lessons Learned Paper prepared by SBJBC’s PPP Working Group. Other speakers included Matthew Vickerstaff, Deputy CEO of the Infrastructure and Projects Authority and Shaun Carter, Carillion Group Head of Strategy.
Please see the PowerPoint slides of John’s presentation, and also a video containing highlights of the event.
John Davie and Baroness Symons engaging in a panel discussion
Dr Liam Fox MP, Secretary of State for International Trade, with HE Rashid Al Zayani, GCC Secretary General
At the SME Forum in Dammam on 4 April, the SBJBC Co-Chairs congratulated Mohamed Algaw, founder and CEO of RAQMYA company on the conclusion of a joint venture with Deep Identity, a UK IT company, as a result of their meeting at SBJBC’s first SME Forum in London in October 2015.
Hashim Alawdi with Baroness Symons and Sheikh Nasser, congratulating Mohamed Algaw
Baroness Symons called on 5 April on Mr Amin Nasser, President and CEO of Saudi Aramco. The meeting focused on Saudi Aramco’s participation in SBJBC’s SME Partnership Forum on 4 April and the support available to companies under Aramco’s In Kingdom Total Value Add (IKTVA) programme.
Opportunities to increase greater SME access to supply chains, encourage more local content and facilitate partnerships between British and Saudi SMEs were discussed along with women’s participation in the workforce.
Following the meeting, Baroness Symons joined the SBJBC delegation in Jubail for meetings with the Royal Commission for Jubail and Yanbu and an Industrial Zone tour.
Baroness Symons and Mr Amin Nasser
Baroness Symons, Chris Innes Hopkins and Hashim Al Awadi with Saudi and UK Delegates
Support for innovative smaller companies and technology partnerships were the focus of the Saudi/British SME Partnership Forum organised by the Saudi British Joint Business Council in Dammam, Saudi Arabia, on 4 April. Hosted by the Asharqia Chamber of Commerce and supported by British Offset, the event brought together some 100 Saudi and British SMEs interested in forming partnerships and meeting potential clients.
Amongst the keynote speakers were Dr Ghassan Al-Sulaiman, Governor of the newly established Saudi Authority for Small and Medium Enterprises and Abdulaziz Al-Abdulkarim, Vice President of Procurement and Supply Chain Management at Saudi Aramco. Representatives of leading Saudi and UK energy industry companies and technology investment funds contributed to panel sessions on forming successful partnerships, growing your SME and accessing finance. Presentations given by Aramco on their In Kingdom Total Value Added programme (IKTVA) to support local content can be accessed via their website.
The 40 strong UK delegation included leading UK energy industry companies based in Saudi Arabia such as Petrofac, Amec FosterWheeler and Wood Group. A Scottish energy trade mission organised by Scottish Development International also participated.
The forum was featured in an article by Arab News on 5 April.
Please follow the links to access our press release and the programme agenda.
SBJBC members and supporters gather at the end of the forum.
Baroness Symons, Dr Ghassan Al-Sulaiman and Sheikh Nasser Al Mutawa listen to opening presentations at Asharqia Chamber.
Chris Innes Hopkins and Eisa Al Alothman with Julie Austin, International Trade Manager, Norfolk Chamber of Commerce
UK Executive Director Chris Innes-Hopkins was the lead speaker at a well attended event on Doing Business in Saudi Arabia organised by the Norfolk Chamber of Commerce in Norwich on 28 February. The event attracted some 40 UK company representatives from different sectors and included a lively panel discussion on Saudi business opportunities in the Vision 2030 context. Participants noted that Saudi Arabia was one of eight overseas markets expected by Barclays to have the highest expected increase (102%) in consumption of UK goods and services over the next decade.
SBJBC founder member Altra Capital has been appointed by the Tatweer Building Company as part of a consortium to act as Programme Advisor for the first education public private partnership (PPP) programme in Saudi Arabia. This includes the operations, management and tendering of the Ministry of Education’s (MoE) projects for school buildings, educational facilities and administration buildings. Altra Capital has been involved in several of Saudi Arabia’s high profile social PPP programmes over that past few years. SBJBC founder member HSBC has also been engaged in the programme along with law firm King and Spalding.