Saudi-Türkiye Business Forum Discusses Expanding Investment Partnership
Date
7/17/2023 7:17:53 PM
(MENAFN- Saudi Press Agency) Jeddah, July 18, 2023, SPA -- The Saudi Arabia-Türkiye Business Forum kicked off in Jeddah yesterday to expand and enhance trade and investment relations between the two countries.
Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Faleh and Turkish Minister of Trade Omer Bolat attended the forum, which also witnessed the participation of companies and the private sector from both sides.
In his opening remarks, Eng. Al-Faleh hailed the Saudi-Turkish economic partnership as having great potential, stressing that the private-sector partnerships and business ties between the two countries are key drivers for strengthening their bilateral economic relations.
The forum aims at ensuring cooperation and partnership and reviewing the investment opportunities available in the two countries, Al-Faleh affirmed.
The minister underscored that the National Investment Strategy (NIS) is one of the main enablers of achieving the objectives of the Saudi Arabia Vision 2030 by enhancing the future of investment in the Kingdom.
Such enhancement includes developing investment opportunities, improving the business environment, and strengthening the Kingdom's competitive position on the global investment map.
On the other hand, the Turkish Minister of Trade stated that the Kingdom of Saudi Arabia and Türkiye are rising economic powers with significant competitive advantages.
He expressed his country's aspiration to increase the volume of trade between the two countries in the coming years.
The Minister said that the Turkish economy is growing rapidly, with a comprehensive investment incentive system, the free-trade zone, and a vast consumer market.
He noted that the volume of investment in Turkiye reflects the suitability of the investment environment.
Moreover, the Minister invited Saudi companies to enter the Turkish market and take advantage of the available investment opportunities and incentives.
During the Forum, discussions addressed strengthening cooperation and investment partnerships in major projects related to Saudi Vision 2030.
Specialized discussion sessions were held, covering areas such as tourism, housing, construction, food, agriculture, mining, manufacturing, and defense and military industries.
The sessions reviewed the most significant investment opportunities provided by the Kingdom for companies and investors worldwide, including Turkish investors.
The Forum also saw the signing of nine MoUs, covering energy, real estate, construction, education, digital technologies, healthcare, and media. The MoUs aim to develop and strengthen investment and economic relations between the two countries.
-- SPA
01:41 LOCAL TIME 22:41 GMT
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