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WEBINAR | "Saudi Arabia, a land of infinite opportunities and bold initiatives"
On 09 November 2021, the Arab-Belgian-Luxembourg Chamber of Commerce (ABLCC), in close collaboration with the Embassy of the Kingdom of Saudi Arabia in Brussels organized a high-level webinar "Saudi Arabia, a land of infinite opportunities and bold initiatives".
This webinar represented a unique opportunity for participants to discover the Saudi market and its long-term vision as a strategic partner in the Arab World. It enabled more than 130 participants - be they companies, associations and businessmen – to get to know more about key investment sectors and opportunities in the Kingdom of Saudi Arabia as well as to ask all specific questions in an ensuing Q&A session.
What is more, this event as well as the great number of participants shows the growing interest of Belgian and Luxembourg companies in the Saudi market, which is one of the fastest growing economies in the world but also, and above all, an increasingly diversified economy opened towards the world.
After a welcome address by the Secretary General of the Arab Belgian Luxembourg Chamber of Commerce, Mr. Qaisar Hijazin, the attendees had the pleasure to listen to the keynotes speeches of the distinguished guests of honour.
H.E. Dr. Khalid AL-JINDAN, Ambassador of Saudi Arabia to Belgium and Luxembourg, started by recalling the import role played by this event in highlighting the incentives and actions taken by the Kingdom of Saudi Arabia to enhance trade, investments and relations with Belgium and Luxembourg. HE Al Jindan also pointed out the important role played by KSA at a global scale along with the undergoing major economic and social reforms in the context of Vision 2030.
H.E. Dominique MINEUR, Ambassador of Belgium to Saudi Arabia, reminded the constant social and economic changes she has been witnessing since her arrival in the country as well as the efforts of the country to actually be a regional leader. She then expressed delight to see that these changes resulted in an increasing presence of Belgian companies in the Saudi Business field be it in the entertainment sector, in healthcare or in the Food & Beverage one. She finished by reminding the audience the importance to look for opportunities offered by the other cities in Saudi Arabia.
HE Dr. Eiman Al-Mutairi, Vice Minister of Commerce, CEO of the National Competitiveness Center, CEO, presented Saudi Arabia’s vision in great lines:
“What we (Saudi Arabia) are trying to achieve for our country is for us to achieve. But we also understand that there are opportunities for the whole world to participate to this and developing our economy. And if we develop our economy, then the region will develop and globally there will be a development. It is always an exchange of thoughts, ideas and investments.” - Dr. Eiman Al-Mutairi
Eng. Tariq Al Haidri, Vice Chairman of the Federation of Saudi Chambers, emphasized the fact that the direct and indirect investments of Belgian and Luxembourg companies are a real benefit to the Saudi Market. Indeed, everything has been recently put into place to favour exchanges. Particularly, the implementation of the National Investment Strategy strongly contributing to the growth and diversification of the economy of the Kingdom.
Mr. René BRANDERS, Chairman of the Federation of Belgian Chambers, began by congratulating the Kingdom of Saudi Arabia for the progressing diversification of its economy. “It is a historical development for the Kingdom but also an opportunity to strengthen the diplomatic and economic relationships between Belgian, Luxembourg and the Kingdom”. He pointed out the potential of Belgium and Luxembourg, even if small in size, to contribute in a qualitative manner to the sustainable future of the Kingdom in many sectors.
In the second part of this high-level event, participants had the chance to discover concrete opportunities thanks to two valuable presentations :
1) "Saudi Vision 2030 : Building a sustainable Saudi Economy through Investment, Innovation and Entrepreneurship" by HE Dr. Eiman Al-Mutairi, Vice Minister of Commerce; CEO of the National Competitiveness Center. With her dynamic and very complete presentation, she identified the key sectors and the policy improvement made to boost the investments in those sectors. With development of these sectors, Saudi Arabia will pave the way for a sustainable development by 2025, with many targets already achieved today!
“Vision 2030 is not only a door to the country and to the region but a current reality in line with a modern and sustainable society.” Qaisar Hijazin
2) "Saudi Arabia is Welcoming Investments" by Mr. Khalid Al-Sheddi, Investor Advisory & Relations Executive Director at the Saudi Ministry of Investment. Mr. Al Sheddi gave an overview of the Mission of the Ministry of Investment (MISA) along with its main goals. He pointed out that MISA gave rise to the facilitation of investment procedures and fostered an investment ecosystem as well as a strengthened communication with investors. He then focused on the main reasons to invest in Saudi Arabia as a business hub. Last but not least, he introduced the services of MISA to help investors make succeed in the saudi market.
To bring this interesting event to an end, participants listened to the encouraging closing word delivered by Mr. Marc Theisen, Chairman of the Luxembourg Arab Business Association. “Saudi Arabia is not only on the track of global vision, making strong progress in economic and trade policy and laws but it has much more to offer. We are delighted that Saudi Arabia is considering the world to participate in those great projects!
