18 September 2012
RIYADH - The Saudi Mega Infrastructure Projects (MIP) summit aims to promote economic prosperity and sustainable development, Faisal Alfadl, founder of fa Partners, and Head of Organization Committee of Saudi MIP, said Monday.
He said the summit is the first step platform to get answers to all the questions and "leave no stone unturned to achieve the objectives and goals of this summit."
Alfadl emphasized the importance of recommendations out of this conference which would impact the businesses and industry growth in future.
"According to a report by MEED Insight, in 2011, the dominant Saudi-based contractors were executing almost two-thirds of all local project work and more than 80 per cent of construction and infrastructure contracts. Saudi Binladin Group and Saudi Oger were by far the biggest dominant contractor, with an estimated $40 billion worth of signed contract work in hand, a fact that needs to be addressed. So, it is time we start to think mega solutions as to how midsize contractors can gain business from the Kingdom in the presence of big contractors, to stimulate local economy to reflect healthy increase in gross national product," Alfadl noted.
Abdullah Al Fassam, Senior Project Manager, Saudi Industrial Property Authority (Modon), said "it is a great opportunity to meet contractors, consultants and clients and form a network. This can enhance our position in the Kingdom as we are major player of the industry and first choice of local and foreign investors. Delegates with different experiences are here to help understand the government policies and find solution to the industry problems."
Ali Shamis Al Madhani, judge, Dubai International Financial Centre Courts, said "I am here to make industry aware of the ways to find solutions to the challenges."
RIYADH - The Saudi Mega Infrastructure Projects (MIP) summit aims to promote economic prosperity and sustainable development, Faisal Alfadl, founder of fa Partners, and Head of Organization Committee of Saudi MIP, said Monday.
He said the summit is the first step platform to get answers to all the questions and "leave no stone unturned to achieve the objectives and goals of this summit."
Alfadl emphasized the importance of recommendations out of this conference which would impact the businesses and industry growth in future.
"According to a report by MEED Insight, in 2011, the dominant Saudi-based contractors were executing almost two-thirds of all local project work and more than 80 per cent of construction and infrastructure contracts. Saudi Binladin Group and Saudi Oger were by far the biggest dominant contractor, with an estimated $40 billion worth of signed contract work in hand, a fact that needs to be addressed. So, it is time we start to think mega solutions as to how midsize contractors can gain business from the Kingdom in the presence of big contractors, to stimulate local economy to reflect healthy increase in gross national product," Alfadl noted.
Abdullah Al Fassam, Senior Project Manager, Saudi Industrial Property Authority (Modon), said "it is a great opportunity to meet contractors, consultants and clients and form a network. This can enhance our position in the Kingdom as we are major player of the industry and first choice of local and foreign investors. Delegates with different experiences are here to help understand the government policies and find solution to the industry problems."
Ali Shamis Al Madhani, judge, Dubai International Financial Centre Courts, said "I am here to make industry aware of the ways to find solutions to the challenges."
© The Saudi Gazette 2012
