Middle East & North Africa

Last May, Chinese solar panel manufacturer LONGi signed an agreement with Saudi trading company El Seif Group to establish large-scale solar manufacturing infrastructure in Saudi Arabia. The deal came several months after the Trump administration's imposition of global tariffs on imports of Chinese solar panels and cells.

What the Iron Man-like character is claiming for his futuristic automotive company is not unheard of. On a systemic basis, mammoth institutional investment—especially from sovereign wealth funds (SWFs)—is flowing into start-ups and technology-oriented publicly traded companies. In this case, Saudi billions would help Mr Musk escape the pressures of being publicly listed. SWFs have invested large sums into high-growth start-ups promising innovation and financial returns. In fact, just this month, Saudi’s Public Investment Fund (PIF) announced a US$1bn investment in Tesla’s rival, Lucid, and a US$2bn stake in Tesla. The rise in SWF balance sheets and activity is having ramifications on global efforts to be more Silicon Valley-like, and on Silicon Valley itself.

This paper is a background review representing part of the initial phase of the Financing the Urban Transition work program. The review builds on a growing body of research that highlights both the importance of national sustainable infrastructure and the need to develop more effective and efficient financing mechanisms for delivering compact, connected cities that meet the UN’s Sustainable Development Goals. While progress has been made in both these areas over the last five years, there remains a policy gap between the international/national level and the municipal level.

Putin and his government seek respect, stability from next U.S. administration, panel says.

"On their own, civilian nuclear programs do not necessarily imply a military threat. Under the Non-Proliferation Treaty (NPT), member countries are allowed to pursue civilian nuclear programs. Because of a growing energy demand, many countries in the Middle East are exploring nuclear power as part of their energy mix. While some, including the United Arab Emirates, have succeeded in starting civilian nuclear power programs, others face serious financing and technical capacity issues."

"The weakening of the EU's role as an independent and mediatory player in the nuclear talks, however, beyond economic losses, could bring negative strategic and political consequences for the EU's status in the entire Middle East, which could in turn damage the region's interests. The new economic sanctions will preclude the opportunity of investment by the EU in Iran's gas and oil sectors, thus decreasing trade and commerce between the two—a shift of policy that provoked a sharp rise in China's activities in those sectors."

Despite this extensive activity in the energy sphere, it seems, however, that Ankara's energy policy has been undertaken without a strategic plan and with little integration of energy issues into Turkey's overall foreign and security policies.

“The goal of winning the pipeline battle was less to gain the moderate volumes of oil and gas in the Caspian than to maintain (in the case of Russia) or attain (in the case of the United States and Iran) significant presence in the region.”

Since the end of the Cold War, Turkey has moved from the periphery to occupy the very center of Eurasian security. It is a critical participant in NATO and aspires to become a member of the European Union. The pivotal role that Turkey plays in Southeastern Europe, the Middle East, and the Caucasus has profound implications for the international arena and spawns vital debates over the directions of Turkish foreign policy.