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FM focus included in Chancellor's visit to Saudi Arabia

10 July 2018

Chancellor Philip Hammond visited Jeddah, Saudi Arabia, over 8 and 9 July as part of the UK government's support of the country's Vision 2030 agenda.

In addition to meeting Saudi government ministers, Mr Hammond also witnessed the signing of an FM contract of particular relevance to the ongoing collaboration with the UK.

The contract in question was between the Soliman Fakeeh Hospital group and Serco, with a value of £27m.

This also ties in with the discussions of the PFM Editorial Advisory Board, which has called for more government attention for the FM sector to assist in the drive to gain more recognition for the industry.

It follows increased effort between the UK and Saudi Arabia in support of the latter's Vision 2030 plan to create more economic diversification and drive social reforms, including trade and investment opportunities for both parties.

During the recent visit, Mr Hammond also met with British businesses based in Saudi Arabia.

His visit follows that of Crown Prince Mohammed bin Salman to the UK in March this year.

This resulted in a joint commitment to establish Private Sector Groups with the aim of creating $100bn trade and investment opportunities over the next decade, with $30bn invested in the UK.

Private Sector Groups co-chairs Catherine McGuinness and Gerry Grimstone joined Mr Hammond in Saudi Arabia, along with UK Government Investments chief executive officer Mark Russell.

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