Al-Falih: huge potential to expand investment between Saudi Arabia and Germany

Saudi Investment Minister Khalid bin Abdulaziz Al-Falih confirmed that there are many quality investment opportunities in the Kingdom for leading German companies.

This emerged in a speech delivered yesterday, Thursday, during a symposium hosted by the Ministry of Investments and the German Business Sector Initiative for North Africa and the Middle East. In the presence of a group of German companies, noting that “the Kingdom and Germany are partners with common goals and interests, and bilateral relations are supported by strong economic and trade ties, including membership in the Group of Twenty, and the Kingdom it has enormous potential to significantly expand its investments and business relationships. “

Al-Falih explained that German, international and Saudi companies operating in the Kingdom benefit from the Kingdom’s strategic geographical position, which is not limited to being in the heart of the Middle East, but also a link between three continents, Asia, Europe and Africa, in so that these companies are in able to reach and serve more than 50% of the world’s population is within five hours of travel.

During his speech, the Saudi Minister of Investment stated that Germany is an important trading and investment partner for the Kingdom, and was the fourth largest source of imports into the Kingdom in 2020, and that the Kingdom is a workplace for a number of important German companies, including those that have recently signed memoranda of understanding with the Ministry of Investments, to open their regional headquarters in the Kingdom.

Al-Falih indicated that the Kingdom Vision 2030 is driving economic transformation in the Kingdom and is working on Provide new investment opportunities A wide range of international and Saudi investors, facing opportunities in a number of key sectors, including industry, logistics, healthcare, life sciences and renewable energy.

He stressed that German companies possess the skills and experience that support their entry into the Saudi market and enhance their ability to take advantage of available opportunities, in particular that the Kingdom has worked in recent years to implement a wide range of economic and legislative reforms to support and improve the business environment, which positively reflects on the competitiveness and positioning of the Kingdom in global relations.

Interestingly, the Ministry of Investments organized this virtual seminar in collaboration with the German Business Sector Initiative for North Africa and the Middle East, which is a specialized organization working to strengthen bilateral trade, economic and investment relations between Germany and the countries of North Africa and the Middle East.

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