LONDON: Investment opportunities in Saudi Arabia and Sweden were in the spotlight during a two-day event between Saudi Arabia and Sweden at Expo 2020 Dubai this week.
A series of panel discussions explored how to strengthen trade relations between the two countries on Jan. 16-17 at the pavilions of the two countries as part of the Expo.
The event was organized in collaboration with the Saudi Ministry of Investment (MISA), Invest Saudi, the Swedish Embassy and Business Sweden.
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 Kingdom of Saudi Arabia Pavilion; and Jan Thesleff, Commissioner General of the Swedish Pavilion.
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 over the past five years. years reaching more than 6 billion US 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”.
Swedish Ambassador Trouve, Sweden’s ambassador to Saudi Arabia, said discussions during the two-day event were mainly about “progressive performance”.
He continued, “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 in order to move forward together.
The two-day event ended with a cultural performance, and guests were invited to attend another key event on February 7, when the Saudi pavilion will partner with MISA and Invest Saudi to organize a forum of one day business at dubai exhibition center. where sector investment opportunities in Saudi Arabia will be discussed.