The National Center for Environmental Compliance has launched a comprehensive strategy to encourage investment in environmental services, aiming to enhance private sector participation in providing high-quality environmental services and support the national economy through creating new job opportunities and localizing environmental technologies and industries.
Reducing Pollution and Negative Impacts
The strategy aims to achieve the goals of the National Environmental Strategy, which seeks to improve service quality, stimulate innovation, and reduce pollution and negative environmental impacts, while supporting the objectives of Saudi Vision 2030 in enabling the private sector to lead sustainable economic growth.
Comprehensive Study of the Environmental Market
A comprehensive study of the environmental market was conducted in cooperation with relevant authorities to identify current and future areas of need, gaps between supply and demand, and to study financial and non-financial incentives that contribute to attracting local and foreign investments.
The study identified 15 investment opportunities that will be listed on the national platform “Invest in Saudi Arabia” with an expected demand volume of approximately 39 billion riyals by 2030.
Developing a Promising Environmental Market
These opportunities include three main pathways: technology development, service provision, and localization of environmental industries, opening the way for investors to participate in developing a promising environmental market that aligns with the Kingdom’s economic transformation.
Partnership with the private sector is being enhanced through the allocation of several environmental services within the strategic privatization plan for the environment, water, and agriculture sector, which includes areas of environmental inspection, environmental monitoring, emergency response, and environmental laboratories.
Developing Specialized National Competencies
These efforts will contribute to raising the level of environmental compliance, improving quality of life, developing specialized national competencies in the environmental field, and stimulating innovation while reducing the cost of environmental degradation and its impacts on public health and natural resources.
Localization of Environmental Industries
Twenty-eight opportunities have been identified in the fields of localizing environmental industries, providing services, and developing technologies, with an estimated value of 39 billion riyals. Fifteen priority opportunities with a total value of approximately 14 billion riyals are being prepared for listing on the national platform “Invest in Saudi Arabia” this year.
