Within the framework of the “Vison 2030" roadmap, which aims to challenge the foundations of the traditional economy to push investment in innovative sectors, the Arab-Belgian-Luxembourg Chamber of Commerce (ABLCC), in close collaboration with the Wallonia Export and Investment Agency (AWEX), The Chamber of Commerce of Luxembourg (CCLU), and with the full support of the Belgian Embassy in Riyadh and the Saudi Embassy in Brussels, organized for the second consecutive year an Economic mission to the Kingdom of Saudi Arabia from 05 to 09 March 2023.

Though open to all, the mission concentrated on 4 key sectors:

• Healthcare
• Environment & Energy
• Sport & Entertainment
• Construction & Infrastructure

Under the patronage of HE Pascal H. Grégoire, Belgian Ambassador to the Kingdom of Saudi Arabia, a business delegation consisting of 120 company delegates representing 75 Belgian and Luxembourg companies visited the Kingdom of Saudi Arabia for 5 days of intense networking with key stakeholders from Saudi companies, B2B’s/B2G’s, conferences, site visits, and much more.

On Sunday 05 March 2023, a fruitful kick-off session marked the start of our participants business adventure in the Kingdom of Saudi Arabia. After a welcome word from HE Pascal H. Grégoire and the organisers – ABLCC, AWEX, CCLU - the day started with a thrilling speed dating session with more than 300 one-to-one meetings. After a well-earned break in the form of a hearty networking lunch, the delegation concluded the first day with a panel discussion featuring  5 high-level panelists to explain the Saudi market, the legal context of doing business in Saudi Arabia, as well as the transformation of the Saudi business climate.

The next day, Monday 06 March, the delegation headed to the Federation of Saudi Chambers which enjoys a privilege relationship with the ABLCC, for a business meeting chaired by Dr. Mohamed Ben Laden, Chairman of the Saudi French Business Council (CAFS). Mr. Secretary-General, Qaisar Hijazin, emphasised the size of the Belgo-Luxembourgish delegation and the historic 100 years of relationship between the two kingdoms and stressed the strength and opportunities presented by the Saudi market to investors and businesses from Belgium and Luxembourg, highlighting the fact that “there is no need whatsoever to feel that Saudi Arabia should be considered the exclusive playground of large multinationals and urged Belgian/Luxembourg SMEs to join the game. The meeting at the Federation of Saudi Chambers gave the opportunity to the Belgian/Luxembourg participants to introduce their business to their Saudi counterparts as well as to learn more about the Quality of Life Program in the Saudi Vision 2030 and on the Agriculture Development Fund. It was followed by an informal networking session.

This meeting served as a first step in order to bring the joint Saudi-Belgian Business Council project to fruition, in the context of the the signature [in 2022] of an MOU between the Federation of Saudi Chambers and the Arab-Belgian-Luxembourg Chamber of Commerce (ABLCC) for mutual support to aid and facilitate trade and investments between the two countries.

For the rest of the mission, the participants had the opportunity to discover both the outstanding landscapes of Saudi Arabia as well as by ambitious and innovative gigaprojects (namely AlUla, Diriyah, Qiddiya) in line with Vision 2030 set to transform the nation and open Saudi Arabia up to the world.

During their whole stay in Saudi Arabia, Brussels and Flemish companies that registered to the mission through the ABLCC also benefited from individual B2B meetings tailored to the specific needs of each company based on their profile and preferences thanks to the precious contribution of the commercial bureau of Flanders investment and Trade in Riyadh.

On Wednesday 08 March 2023, in honour of the entire Belux delegation, HE Pascal H. Grégoire, Belgian Ambassador to the Kingdom of Saudi Arabia, hosted a high-level closing ceremony gathering no less than 250 guests, half of them being Saudi local business community with C-level executives.

To conclude, the 2023 economic mission was eagerly welcomed by both the Belgo-Luxembourg side and the Saudi one. Participating companies have established valuable contacts and followed up with possible business partners they met throughout the mission. Hence successfully penetrating the Saudi market and paving the way for more trade and exchange between Belgium, Luxembourg, and Saudi Arabia.