From waste to wealth: Turning challenges into economic returns
Sunday, 12 February 2023

From waste to wealth: Turning challenges into economic returns

 

Since the launch of the Vision 2030 masterplan, Saudi Arabia has been witnessing rapid industrialization and fast urbanization, which has resulted in increased levels of pollution and waste. Riyadh city alone, with a master plan to become a regional business hub for multinational companies, will add to waste management potential, especially with its target to host 20 million inhabitants by 2030.

 

With all the rapid developments projects in the country, the waste-management sector will provide long-term promising opportunities for local and international investors.


MISA, on the other hand, has been touring the world to promote foreign direct investment into the country. I had the honor to be participate in some of these delegations representing the private sector through our investment bank, BMG Financial Group. As a case in point, for the past three years BMG and MISA teams have been working closely together to prepare the entry of a leading technology-driven waste management company from Germany into the country.

Last month, MISA and HTCycle signed a memorandum of understanding to explore investment opportunities in the development of the waste-management sector and the setting up of a regional office in Riyadh. HTCycle is a technology leader in the field of hydrothermal carbonization, which brings its sustainable recycling technology to the Kingdom. With its research and developments, HTCycle can process waste in an environmentally friendly way and benefit from the results of the hydrothermal carbonization process, including activated carbon, which is used in the water treatment industry. BMG was appointed by HTCycle as its investment banker for the Saudi operations’ capital-raising from strategic investors.

 

Later this month, the Ministry of Environment, Water and Agriculture, together with the Saudi National Center for Waste Management, are hosting the Waste 2 Wealth conference, a one-of-a-kind event that will bring together policymakers, investors, innovators and entrepreneurs to present and discuss the transformation in the country’s waste-management sector, global trends in technology, investment drivers and enablers, and other topics.

 

In my opinion, with all the rapid developments projects in the country, the waste-management sector will provide long-term promising opportunities for local and international investors. The Waste 2 Wealth forum is another timely platform where policymakers and investors can compare notes to turn these challenges into economic returns.

Basil M.K. Al-Ghalayini is the chairman and CEO of BMG Financial Group.

Source Arab News




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