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Saudi Arabia's path to Circular Economy: National Center for waste management presents it's investment opportunities for the first time at IFAT 2024 in Munich

Issuer: National Center for Waste Management (MWAN) / Key word(s): Tender Offer/Sustainability Saudi Arabia's path to Circular Economy: National Center for waste management presents it's investment opportunities for the first time at IFAT 2024 in Munich 11.05.2024 / 12:58 CET/CEST The issuer is solely responsible for the content of this announcement. Munich (May 11, 2024). 90 percent less waste in landfills by 2040, waste avoidance through ambitious strategic planning and implementation of circular economy principles: Saudi Arabia is not only driving the transformation of its economy but also vigorously pursuing sustainability initiatives. For the first time the country will showcase its transformation journey to the global public and investors at the IFAT 2024 waste management trade fair (May 13 - 17, 2024).

“The waste management sector plays a pivotal role in the national transition set under Vision 2030”, says Sultan AlHarthi, Corporate Communication Executive Director of the National Center for Waste Management (MWAN).  Established in 2019, MWAN is the national regulator mandated to plan and ensure the sustainability of the waste management sector.  As part of this mandate, MWAN is developing a Strategic National Masterplan guided by a National Strategy that adopts the fundamentals of circular economy principles. The founding pillars of the National Strategy encompass 5 ambitions, 11 strategic objectives and 19 performance indicators reflected in 65 initiatives setting the foundation for sector transformation. In line with this strategy, MWAN launched several key initiatives aimed at preventing waste at the source, incentivizing resource recovery and maximizing diversion from landfills. Furthermore, in support of establishing an integrated legislative framework, the Kingdom passed an advanced new Waste Management Law that adopts Polluters Pay Principles, Extended Producer Responsibility, and resource conservation, while at the same time emphasizing financial sustainability of the sector as an integral objective. The law was further supported by comprehensive Implementing Regulations and Technical Guidelines to inform and guide the sector.