Presenting the mega investment opportunities available in Saudi Arabia; Investment Minister Khalid Al-Falih on Friday stressed that investment prospects in the Kingdom; characterized by quality and match the potentials of prominent German companies.
According to Al-Falih, this will expand the investment and trade partnerships between both Saudi Arabia and Germany.
Saudi Arabia has been mobilizing to strengthen mutual investment relations with strategic partners for more than a month.
In late August, Al-Falih also went on an official visit to the UK to discuss major opportunities and benefits; from opening the prospects for economic relations to the private sector in the two countries.
In an event hosted by the Ministry of Investment of Saudi Arabia (MISA); the North Africa Middle East Initiative of German Business (NMI); and the German-Saudi Arabian Liaison Office for Economic Affairs (GESALO), the minister also outlined how Vision 2030 is driving the Kingdom's economic transformation and unlocking investment opportunities.
Al-Falih explained that German, international and Saudi companies operating in the Kingdom benefit from the Kingdom's strategic geographical location; not limited to be in the heart of the Middle East, but in a linking location; between three continents, Asia, Europe, and Africa.
Saudi Arabia's location enables companies to reach and serve more than 50% of the world's population within five hours of travel only.
Germany is also a key trade and investment partner for Saudi Arabia. It was the 4th largest source of imports to the Kingdom in 2020, and Saudi Arabia is home to several leading German companies; including Siemens and Bosch.
Al-Falih also pointed out that Vision 2030 leads the economic transformation in the Kingdom. It also works to provide new investment opportunities for a wide range of international and Saudi investors.
Key sectors open for investment highlighted by Al-Falih included renewable energy; green finance; automotive; petrochemicals; healthcare; life science; supply-chain; information communication technology; as well as digitization.