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00:00There are almost no projects in Saudi Arabia these days,
00:05except for projects in the construction and construction sector.
00:09In addition to that, there are huge projects
00:12that the Kingdom is working on, such as Neom, Qiddiya, the Red Sea, and others.
00:17The Future Projects Forum comes to support this direction,
00:21where about 35 project owners participated in the forum this year.
00:26They presented more than 3,000 projects,
00:29with an estimated total value of 1.2 trillion Riyals.
00:36I think the BIF companies are grateful for this development,
00:41with the support of local contractors who are willing to develop.
00:44And this, thank God, has been achieved.
00:46The market is growing,
00:48and the size of local contractors may not be enough.
00:53Today, we witnessed the participation of the Turkish Union,
00:58which is also a member of the Islamic State Council.
01:03We also witnessed the participation of the Egyptian Union,
01:09and we also witnessed the participation of the Korean Union.
01:13This shows that the large number of projects
01:16that were presented today,
01:18about 240 billion dollars,
01:20will really feed the local and regional markets.
01:26The Future Projects Forum represents a platform
01:29that brings together contractors and project owners,
01:32from which various partnerships are born.
01:36With the growth of the contract market in the Kingdom,
01:39it is now necessary for companies to raise their service level
01:44in the contract market.
01:46Today, we see that the contract market,
01:48thank God, is the size of the projects.
01:51Today, in the entire forum,
01:53we see the projects presented by all bodies and all ministries.
01:56How things have gone up to 2030.
01:59Today, the size of the projects is very high.
02:02Today, foreign companies are present in the forum,
02:06and they want to contract with local companies.
02:09Today, this puts the contract market,
02:12thank God, in an extraordinary way.
02:15Today, the size of the demands,
02:17we as contractors,
02:19we have completed projects,
02:21and we have completed work,
02:23from the first day,
02:25we have completed projects everywhere in the Kingdom.
02:27200,000 contractors from the Ministry of Commerce
02:30are benefiting from the project projects in the Kingdom.
02:35The official forecasts indicate that the next three years
02:38will be one of the best in the Saudi contract market.
02:42This is to work on completing many of the projects of the 2030 vision,
02:47which represents an opportunity for contract companies in the Kingdom.
02:51Atallah Alshamri, CNBC Arabia, Riyadh.