Saudi Arabia and Sweden explore investment opportunities
The first day, hosted at the Sweden pavilion, included opening remarks from Niclas Trouvou, Swedish Ambassador to Saudi Arabia; Hussain Hanbazazah, commissioner general of the Saudi Arabian pavilion; and Jan Thesleff, Commissioner General of the Swedish Pavilion.
Commissioner General Hussain Hanbazazah highlighted how Swedish companies have been operating in the Kingdom for more than 70 years, noting that Saudi Arabia is Sweden’s largest economic partner in the Middle East and the largest trading partner among Scandinavian countries, with the volume of trade in the past. five years to reach more than 6 billion dollars.
“As a continuation of our historic relationship, we are inspired by our leaders’ efforts to advance bilateral relations between our two countries, which culminated in the recent establishment of the Saudi-Swedish Business Council in Stockholm, the exchanging expertise and knowledge and putting in place plans and programs to seize investment opportunities and turn them into tangible partnerships,” he said.
“Saudi Arabia welcomes and invites Swedish companies to invest in our country and take advantage of the opportunities and initiatives of the Kingdom’s Vision 2030, especially in the areas of sustainability, smart cities, manufacturing industries and areas such as e-commerce and information technology”.
Speakers at the two-day event included Jan Larsson, CEO of Business Sweden; Patrick El-Cheikh, Secretary General, Saudi-Swedish Joint Business Council; Marcus Petersson, Swedish Trade Commissioner to Saudi Arabia; Khawla Alhaqbani, Senior International Relations Specialist, Saudi General Authority for Foreign Trade (GAFT); Fawaz Alotailbi, Executive Member, Joint Saudi-Swedish Business Council; and Saleh Khabti, Investment Transactions Assistant at the Saudi Ministry of Investment (MISA).
Also present on the Saudi side were representatives of the Ministry of Investment; Ministry of Industry and Mineral Resources; Ministry of Municipal, Rural Affairs and Housing; Invest in Arabia; National Industrial and Logistics Development Program (NIDLP); Local Content and Public Procurement Authority; Industrial center; Federation of Saudi Chambers; General Authority for Foreign Trade; THIQAH Business Services; Ma’aden Mining Company; Saudi Investment Recycling Corporation (SIRC); major property developer Roshn; and the Red Sea Development Corporation; and on the Swedish side of the telecommunications company Ericsson; engineering consultancy Sweco; and Swedish-Swiss multinational and technology leader ABB; and the multinational food packaging and processing company Tetra Pak.
Highlights of the two-day event included sessions on investing in Saudi Arabia and Sweden, digital transformation, including how governments can lead this, and sustainability, including building the Saudi Arabia’s circular economy and related investment opportunities, with a case study on recycling in the Kingdom. Additional panel discussions explored sustainable mining, collaboration within smart manufacturing, and building smart, sustainable cities.
Niclas Trouvé, Sweden’s ambassador to Saudi Arabia, said talks during the two-day event focused on “progressive performance”.
“Saudi Arabia and Sweden have a fantastic journey ahead to protect people and the planet through sustainable and green solutions. We must do this together by strengthening partnerships between governments and the private sector to move forward together. “, did he declare. – TradeArabia Press Service