Newsgate360 – Riyadh: The Saudi Contractors Authority announced the launch of the second edition of the Future Projects Forum in Riyadh from February 25-26, 2020.
This forum is the largest contracting sector gathering in the Kingdom of Saudi Arabia. In this edition of this year, 35 government and private entities will participate to present the most important projects planned in the Kingdom for the coming stage, with a number of more than 850 projects that estimated value exceeding 600 billion riyals, most of which are to implement the initiatives and goals of the Kingdom’s 2030 vision.
The forum was announced at a press conference held on Wednesday in Riyadh with presence of the projects owners that will review their projects during the forum.
The Future Projects Forum is one of the Authority’s initiatives that provide an opportunity to view the details of the most important future projects and the most remarkable investment opportunities for contractors, investors, suppliers, developers, banks, insurance companies, consulting centers and all interested parties.
In the second edition of the Forum, 35 government and private entities participated, representing various strategic and vital sectors. Among the most prominent of these sectors are the oil sector, industry sector, tourisms sector, entertainment sector, transportation sector, housing sector, infrastructure and mining sectors.
The Secretary General of the Saudi Contractors Authority Eng. Thabit bin Mubarak Al Suwaid said in his speech during the conference that this forum represents a unique platform for project owners to review their projects and to enhance the principle of transparency and competitiveness and for the supportive parties to know the direction of projects for the coming period. This forum also represents an opportunity for contractors and investors to discover the future projects that are being proposed. In addition, it represents an exceptional opportunity to build relationships, as it allows contractors and investors to meet with the project owners and learn about the requirements, method of registration and required qualifications. This will improve their plans and decisions by identifying the time for future projects, their estimated costs, and the qualification mechanism. The Forum for Future Projects will create a network of relationships between project owners, contractors and interested parties to provide an opportunity to build partnerships between the contractors themselves. The authority invited all contractors, investors and those interested in attending the forum sessions to register via the link www.saudifpf.com
There are several indicators that confirmed the success of the first edition of the forum, which was held in 2019, where the percentage of satisfaction of the participants in that edition was 91%, which reflected positively on the interaction by interested parties to participate for the next edition. In addition, the percentage of participating government and private entities increased from 23 to 35, and the total value of the projects offered increased from about 450 billion riyals to more than 600 billion. The expected attendance rate has increased to nearly 2000 contractors and interested parties.