Riyadh – Sharikat Mubasher: The Federation of Saudi Chambers has announced the establishment of the first-ever national committee dedicated to the energy and petrochemicals sector, with Jaber bin Ayed Al-Fahhad elected as Chairman and Saad bin Ajlan Al-Ajlan as Vice Chairman.

This committee, a pioneering initiative under the umbrella of the private sector, aims to enhance collaboration in shaping policies for the energy and petrochemicals sector while driving investment growth, according to the Saudi Press Agency (SPA).

Operating in coordination with relevant ministries, agencies, and major companies, the committee will focus on achieving sector objectives and maximizing investment opportunities for both Saudi and international stakeholders. The petrochemical sector alone is projected to attract $600 billion in investments by 2030. Other key priorities include achieving 50% renewable energy integration through mega projects and supporting programs to localize 75% of energy-related content.

Saudi Arabia’s energy sector remains a cornerstone of the global energy market, contributing an estimated 40% to the Kingdom’s GDP. It plays a critical role in powering key industries such as transportation, logistics, mining, and manufacturing, and serves as a primary driver of economic growth across the nation.

The formation of this committee reflects the Federation of Saudi Chambers’ commitment to aligning with Vision 2030 priorities. By focusing on the energy sector, the initiative seeks to open new investment horizons and bolster private sector participation in one of the Kingdom’s most vital economic areas.

As Saudi Arabia positions itself as a leader in energy innovation and sustainability, the committee is expected to play a crucial role in shaping the future of the sector and unlocking its vast potential.