(MENAFN- The Peninsula)
QNA
Riyadh: The Qatar-Saudi Arabia roundtable for investment development was held Sunday in Riyadh, Kingdom of Saudi Arabia.
The meeting was co-chaired by the Undersecretary of the Ministry of Commerce and industry HE Mohammed bin Hassan Al Malki and the Assistant Minister of Investment and CEO of the Saudi Investment Marketing Authority (SIPA) HE Ibrahim bin Yousef Almubarak.
The meeting aims to enhance and develop bilateral investments between the two countries and explore opportunities for cooperation in the fields of "real estate, sports, and entrepreneurship," with the participation of representatives of government agencies and major specialized companies from both countries.
In his opening remarks, HE the Undersecretary of the Ministry of Commerce and Industry emphasized that these joint meetings represent an ideal platform to discuss economic issues of common interest and open new horizons for partnership and cooperation between the two fraternal countries.
He stressed that the State of Qatar and the Kingdom of Saudi Arabia share common goals and ambitions aimed at strengthening bilateral relations in various fields, pointing to the importance of intensifying efforts to increase the volume of bilateral investments, facilitate trade movement, and enhance cooperation in various sectors.
He also indicated that enhancing trade and economic cooperation between the two countries requires consolidating strategic partnerships between the public and private sectors and encouraging collaboration between small and medium-sized enterprises, which contributes to achieving industrial integration and enhancing trade exchange between the two sides, which witnessed remarkable growth from USD 184.6 million in 2021 to USD 802.5 million in 2023, with a growth rate exceeding 335 percent. He voiced his aspiration to achieve further growth in the coming years.
His Excellency added that the State of Qatar has achieved great accomplishments since the launch of Qatar National Vision 2030, especially in areas of infrastructure, establishing companies, and economic partnerships that have contributed to enhancing development in the industry and services sectors. He explained that Qatar's Third National Development Strategy (2024-2030) focuses on priority sectors, which opens new horizons for cooperation and joint investment.
His Excellency urged Qatari and Saudi businesspersons to explore investment opportunities provided by the two countries' national visions and establish partnerships in vital sectors that add value to their economies.
The meeting highlighted the advantages of the business environment in Qatar and Saudi Arabia and discussed ways to enhance cooperation in various sectors. In addition, several bilateral meetings were held between representatives of the Qatari private sector and a number of Saudi companies to explore opportunities for cooperation, exchange expertise, and build new investment partnerships in sectors of common interest.
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