Golden opportunities in Saudi Arabia for Turkish construction firms

I recently received an invitation from Badr Al-Badr, the Saudi deputy minister of investment, to join a delegation from the Kingdom on a business fact-finding trip to Georgia and Turkiye.

Flying to the Georgian capital, Tbilisi, for the first time was eye-opening and the visit provided a useful insight into the business links and opportunities between Georgia and Saudi Arabia.

However, Istanbul was a completely different experience.

The Turkish-Saudi Investment and Business Forum held in the city attracted more than 1,000 participants, with senior officials from both countries including the Saudi ministers of investment and tourism, Khalid Al-Falih and Ahmed Al-Khateeb, respectively, the Turkish Minister of Treasury and Finance Mehmet Simsek, and head of the Turkish Investment Office Ahmet Burak Daglioglu.

The forum was a follow-up to one staged in Jeddah last year during the state visit of Turkish President Recep Tayyip Erdogan. A range of topics related to the development of cooperation in the economic, trade, investment, and tourism fields were discussed, and 28 memoranda of understanding were signed covering sectors including construction, real estate, manufacturing, industry, hospitality, vocational training, financial services, logistics, human capital, innovation, tourism, and quality of life.

In line with the expanding relationship between the two countries, the Turkish construction and project management sectors have golden opportunities to utilize their extensive capacity where they can be effectively employed to achieve the milestones of the Kingdom’s mega and giga projects, worth around $1.8 trillion.

With the active participation of government and private-sector delegations, Saudi Arabia and Turkiye are seeking to bolster economic, tourism, and investment ties. They aim to leverage available opportunities to enhance collaboration across various sectors in both countries.

The construction sector dominated forum discussion sessions, and it was noted that Turkish firms could help fill capacity gaps in the Kingdom, especially in infrastructure and privatization projects.

BMG Financial Group has been advising the Saudi Baytur Co., a joint venture between leading Saudi contractors and Baytur Insaat Taahhut, on its expansion in the Saudi market, while also inviting value-added strategic partners.

In line with the expanding relationship between the two countries, the Turkish construction and project management sectors have golden opportunities to utilize their extensive capacity where they can be effectively employed to achieve the milestones of the Kingdom’s mega and giga projects, worth around $1.8 trillion.

I would like to take this opportunity to thank the Ministry of Investment for such a comprehensive and educational tour in Tbilisi and Istanbul to explore business opportunities that will help toward achieving the ambitions of our country’s vision.

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