The 8th edition of Builders of Egypt Forum showcased the construction and development models despite the global challenges, which will open new gateways of cooperation.
The panelists also presented the existing projects in the government and the planned development strategies, along with highlighting the partnership mechanisms with the Egyptian side with regard to mega construction projects, as well as financing mechanisms, and the Egyptian side’s expansion plans during the coming years.
SCA Chairman, Zakariyia Abdel Rahman, referred to the promising construction activities in the kingdom during the recent 8 years.
He also referred to the strategy of the Federation of Contractors from Islamic Countries for attracting the best global contracting companies to contribute to the mega projects in KSA.
He also stated that 70.65% of the contracting projects in Islamic countries at a value of $9bn are executed by foreign companies. He also referred to the highest selection criteria set by the Saudi Fund for Development for executing mega construction and infrastructure projects in the kingdom.
In the same context, he also lauded the recent momentum leap in the Egyptian market and the construction sector’s contributions to the GDP as well as the contracting projects abroad.
The panelists also highlighted the role of the regulatory and execution sectors in the Suadi construction sector with regard to implementing the KSA’s Vision 2030, as well as handling 80% of the challenges facing the investment ecosystem before 2016. Accordingly, KSA witnessed an 8.7% economic growth given the 6-year action plan.
The kingdom also facilitated corporate establishment online, along with setting a plan for expanding foreign investments by 100% within 12 to 18 months.
Further, investments worth $ 2 trillion were injected for carrying out new projects.
Mansour Al Hashim also highlighted that the Saudi Sovereign Fund has been currently executing 6 economic projects.
Nasser El Hagery, Head of the Service Department at SCA, referred to the KSA’s targets to export the contracting services. Further, SCA introduces new investment opportunities, through the Muqawil Online Platform. Muqawil Online Platform introduces 2000 investment opportunities, along with executing 13000 projects with the participation of 16 private entities. The platform also introduces a 400-page report about the mechanisms of setting up new projects.
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