We are very excited to share with you our GSBM June edition 2023 with the leading topic: Energy Diversification. Our magazine addresses decision-makers and company representatives in Saudi Arabia, Bahrain, and Germany, Regional Chambers of Commerce and Industry in Saudi Arabia, Bahrain, and Germany (IHKs), Ministries and embassies, and their related institutions.
Enjoy reading the GSBM.
Dear Business Community, Dear Reader,
We look back on a busy first half of the year, facilitating delegations both in the Kingdom of Saudi Arabia and Germany, organizing events and succeeding in our core business – building sustainable business relations. The guiding thread in our latest activities has been energy diversification, given its high importance both in the German Energiewende and the Kingdom’s goals to establish a circular economy and to reach climate neutrality in 2060.
In order to enrich the energy mix, both countries turn towards hydrogen and renewables. In this context, GESALO facilitated trips with the Ministry of Energy, the Ministry of Investment and the National Industrial Development and Logistics Program (NIDLP) to Germany. The Energy Day in May highlighted the benefit for stakeholders from business and politics to join forces in tackling energy diversification. Our TOP stories in this issue shed light on how companies like BASF and Evonik are moving towards circularity of their products and processes to reduce greenhouse gas emissions and ultimately to achieve climate neutrality. BASF is using new technologies such as electrical heat pumps or electrolysis for CO2-free production of hydrogen to reach net zero by 2050. Evonik seeks to grow the proportion of its sustainable products from 43% to more than 50% by 2030.
In the first quarter of the year GESALO was organizing several delegations: A delegation from Bavaria visited Saudi Arabia and Bahrain with companies from the MedTech and Energy sector that fostered fruitful exchanges and promising follow-ups. Furthermore, GESALO supported a delegation on Power Generation from Solar & Wind Energy incl. CSP to Riyadh as well as a Smart City Delegation. Participants gained deeper insights in Megaprojects and met with relevant institutions and companies.
We share the promising and optimistic outlook with companies operating in the Kingdom – we invite you to take a look at figures from the World Business Outlook Spring 2023.
Sincerely,
Dr. Dalia Samra-Rohte