Skytower Investments’ CEO Eric Fang, in an exclusive interview on Al Ekhbariya TV Channel, a Saudi National Television Channel on July 14, highlighted the company’s successful investments and future plans in Saudi Arabia. This appearance underscores Skytower’s dedication to shaping a green future and fostering international cooperation, in line with Vision 2030’s ambitious goals.
Fang detailed Skytower’s strategic initiatives and their potentially substantial impact on aiding internal broad based economic development on the Kingdom’s industrial landscape. “Skytower is delivering a comprehensive solution for Vision 2030 by introducing essential technology that utilizes local materials and Saudi creativity to optimize resource use,” he stated.
A key part of the interview focused on Skytower’s efforts in international cooperation with companies from China, Japan, the United States, and Europe. Fang emphasized the importance of these partnerships in leveraging localization and global expertise. He discussed how Skytower is bringing in international know-how and forging collaborations to enhance Saudi Arabia’s renewable energy capabilities. “Additionally, all of Skytower’s efforts try to organize “best outcomes” for long term benefit to the population and following the Kingdom’s stated policies and governmental objectives,” Fang continued.
When asked about Skytower’s success in attracting international opportunities to the Kingdom, Fang credited smooth communication with Saudi ministries. “Our achievements are a result of close collaboration with ministries throughout the year,” Fang said. “Meetings with Ministry of Energy (MOE), Ministry of Investment (MISA), Ministry of Industry and Minerals (MIM), National Industrial Development and Logistics Program (NIDLP), Public Investment Fund (PIF) National Development Fund (NDF), National Infrastructure Fund (NIF), Saudi Industrial Development Fund (SIDF), National Industry Development Center(NIDC), King Abdulaziz City for Science and Technology (KACST), The Economic Cities and Special Zones Authority (ECZA), The Royal Commission at Yanbu (RCJY), Aramco, Sabic and other stakeholders provide us with a comprehensive understanding of the Kingdom’s goals under Crown Prince and Prime Minister Mohammed bin Salman Al Saud, allowing us to better align our strategies.”
The conversation also touched on the broader development of Saudi Arabia’s clean energy sector in line with global decarbonization trends. Fang highlighted Skytower’s role in helping, in a small way, the Kingdom evolve into a global hub for renewable, hydrogen energy and the next generation of basic and advanced manufacturing. “We are introducing and investing into manufacturing and localization projects encompassing automotive, new generation green chemical products and renewable energy infrastructure systems and other AI related new technologies at software and component level,” Fang noted. “Under the energy transition trend, hydrogen is becoming increasingly important.”
Fang remarked that the development of renewable energy aligns with Vision 2030’s objectives, supporting the growth of various projects within the Kingdom and building the necessary infrastructure to expand globally. He emphasized the importance of hydrogen in the future energy landscape. “While technologies like solar and wind have changed lifestyles, hydrogen will drive fundamental energy growth,” he said.
Fang pointed out that Saudi Arabia’s renewable energy growth promises a brighter future under the Kingdom’s leadership, attracting global strengths to foster industry growth. He highlighted the crucial role of communication and cooperation in making this trend a reality, positioning Saudi Arabia as a key player in the global energy competition.
“Skytower is learning Saudi Arabia’s needs and aligning with its leadership,” Fang said. “We bring technology, investment, management and development together to drive progress.” “Lastly, we are very grateful for the courtesy and support, Skytower personnel, at all levels have received from their counterparts and hope to continue to assist in its broad based bright economic development future,” Fang concluded.
This article is contributed by Dorothy Chunni Song, Assistant Research Associate at the National Center for Sustainable Development (NCSD) in Washington D.C., currently enrolled in Johns Hopkins University SAIS master program and summer intern at Skytower Investments, a Saudi Arabia Investment Company.
