German Federal Minister for Transport, Building and Urban Development Peter Ramsauer said German investors are keen to play a major role in Saudi Arabia's transport network expansion projects. Ramsauer told the global publishing, research and consultancy firm Oxford Business Group (OBG) that talks held with the Kingdom's Minister of Transport Jobarah Al-Suraisry explored possible collaboration on a number of key initiatives, including the development of the country's railway sector, the Saudi land-bridge project and the renovation of port infrastructure. "Saudi Arabia is the country of focus for Germany in the Middle East," he said. "German companies are eager to invest and collaborate with Saudis and have proved themselves well able to collaborate with the Kingdom to solve some of the challenges present in the local economy." In OBG's forthcoming guide on the Kingdom's economic activity and investment opportunities report, Ramsauer said the growing number of Saudis choosing to move from rural areas to the Kingdom's cities heightened the need for new infrastructure and transportation networks to be put in place. "At the same time, the regeneration of rural areas and the establishment of decent and adequate infrastructure to ensure people have equitable opportunities without leaving their home towns is key," he said, "so it needs careful management." He added that the creation of a knowledge-based economy would be instrumental in moving forward Saudi Arabia's bid to develop downstream activity and diversify its economy. "In Saudi Arabia the gas, oil and petrochemical industries must all work towards further development of downstream industries, which, when combined with knowledge-based industries, will create a real added value economy," he said. OBG's Country Director Elise Postigo said "Saudi Arabia's efforts to bring the private sector on board for its economic expansion are gathering momentum, with growth evident in areas such as construction, manufacturing and industry," she said. Saudi Arabia's development plan gave investors a clear indication of the Kingdom's commitment to diversifying its economy, while serving as a launch pad for a long list of major projects across the sectors, the report said.
