Latest news with #FederationofSaudiChambers
Saudi Gazette
22-05-2025
- Business
- Saudi Gazette
Kyrgyz president meets Saudi business leaders
Saudi Gazette report BISHKEK — Kyrgyz President Sadyr Zhaparov received Federation of Saudi Chambers (FSC) Chairman Hassan Alhwaizy and a group of Saudi investors and government representatives at the presidential office in the Kyrgyz capital Bishkek. The meeting marked the conclusion of the FSC delegation's two-day visit to Kyrgyzstan. Zhaparov highlighted the favorable economic and investment environment in Kyrgyzstan. He promised significant incentives and support for Saudi investors and encouraged them to take advantage of the vast opportunities available in the sectors of renewable energy, agriculture, tourism, and mining. Alhwaizy affirmed the readiness of the Saudi business sector to invest in Kyrgyzstan and expressed a commitment to working with partners in the Kyrgyz Chamber of Commerce and Industry to strengthen partnerships between investors from both countries. The delegation's visit featured participation in an investment forum. The federation officials also held several meetings with ministers and officials from both governmental and private sectors to discuss economic cooperation and explore investment opportunities.
Saudi Gazette
22-05-2025
- Business
- Saudi Gazette
Saudi-Spanish business forum kicks off in Riyadh
Saudi Gazette report RIYADH — The Saudi-Spanish Business Forum, organized by the Federation of Saudi Chambers in cooperation with the Ministry of Economy and Planning and the Ministry of Investment, kicked off on Thursday in Riyadh. Minister of Economy and Planning Faisal Al-Ibrahim and Spanish Minister of Economy, Trade and Business Carlos Cuerpo were present at the event with more than 300 officials and investors. Al-Ibrahim affirmed that Saudi Arabia is confidently moving toward a knowledge-based economy, driven by Saudi Vision 2030. He noted that the Kingdom's non-oil sectors accounted for 54.8% of GDP in 2024, for the first time in Saudi Arabia's history. He explained that Saudi's Vision 2030 has witnessed a 70% growth in private investments in non-oil sectors since its launch, as a result of the implementation of more than 900 economic and structural reforms that have contributed to enhancing investor confidence and facilitating the business environment. Cuerpo emphasized that Saudi Arabia is Madrid's most important partner in the region, and the presence of Spanish companies in the Kingdom has increased by 57% over the past three years. He explained that the current economic situation in Spain is suitable for strengthening relations with Saudi Arabia. Spain has reached a record level of financing capacity, while the tourism sector is the main driver, and it has occupied advanced positions in attracting renewable energy projects and research and development activities related to artificial intelligence, he said. Chairman of the Saudi-Spanish Business Council Khalid Al-Hogail explained that Saudi Arabia and Spain are seeking to explore investment opportunities and enhance trade exchange in promising and vital sectors. He noted that trade and investment relations are currently witnessing development; in 2024, the volume of trade exchange reached approximately $6 billion. He noted that the council is working to strengthen partnerships between business leaders in sectors such as energy, tourism, construction, sports, food, and logistics services. Four agreements were signed between Saudi and Spanish companies across several economic sectors. Specialized sector-specific sessions and workshops were also held, highlighting the investment environment and opportunities in both countries, particularly in vital economic sectors, as well as the incentives and facilities offered to investors from both sides. It is noteworthy that the volume of trade exchange between Saudi Arabia and Spain at the end of 2024 amounted to SR22.9 billion, with Saudi exports amounting to SR12.4 billion, while its imports from Spain amounted to SR10.5 billion.
Asharq Al-Awsat
06-05-2025
- Business
- Asharq Al-Awsat
Saudi Chambers Federation Organizes Saudi-Egyptian Business Forum
The Federation of Saudi Chambers and Egypt's General Authority for Investment and Free Zones (GAFI) on Monday held the Saudi-Egyptian Business Forum in Cairo with officials from both countries and 300 Saudi and Egyptian companies to explore prospects for partnership and economic cooperation. The forum highlighted investment opportunities and incentives in Saudi Arabia and Egypt, as well as the business environment and prospects for partnership in industry, real estate development, tourism and economic zones and free zones, the Saudi Press Agency said on Tuesday. Assistant Minister of Investment and CEO of the Saudi Investment Promotion Authority (SIPA) Ibrahim Al-Mubarak stated that the investment protection and promotion agreement between Saudi Arabia and Egypt created a reality for investment cooperation. He emphasized that Saudi Arabia will remain a leading investment partner for Egypt, noting that SIPA has granted 7,000 licenses for Egyptian investments in the Kingdom while trade between the two countries reached SAR60 billion in 2024, marking a 29 percent increase. GAFI CEO Hossam Heiba emphasized that the Egyptian government is committed to providing an attractive investment environment by continuing to achieve breakthroughs in infrastructure and implementing a series of incentive measures in fiscal, monetary and investment policies. He also highlighted support for growing incoming investments, particularly Saudi investments, which are a cornerstone of sustainable development in Egypt, noting that a special unit for Saudi investments has been established. The representative of the Saudi Ministry of Investment Hamad Al-Rasheed reviewed the Kingdom's efforts to stimulate investment by establishing special economic zones focused on cloud computing, logistics, automotive production, shipbuilding, food, mining and pharmaceuticals. He also highlighted the launch of the national initiative for global supply chains, aimed at attracting strategic supply chains to the Kingdom and securing regional and global market share in key sectors alongside the Kingdom's efforts to simplify and digitize procedures.
Arab News
01-05-2025
- Business
- Arab News
Peru keen to boost agricultural, food exports to Saudi Arabia, foreign minister says
RIYADH: Peru is seeking to boost exports of agricultural and food industry products to Saudi Arabia while leveraging the tax incentives and benefits available to foreign investors, a top official said. During a meeting in Riyadh with Federation of Saudi Chambers board member Emad Sadad Al-Fakhri, Peru's Minister of Foreign Affairs Elmer Schialer Salcedo also invited investors from the Kingdom to an upcoming agricultural products exhibition scheduled for September, the Saudi Press Agency reported. Salcedo explained that while South American exports to Saudi Arabia total about $3.8 billion annually, Peru accounts for only $70 million of that sum. The newly released SPA statement said: 'Al-Fakhri briefed the Peruvian delegation on recent developments in the Saudi economy and the Kingdom's efforts to strengthen its economic partnerships, including with Peru. He underscored Saudi Arabia's competitive advantages and investment opportunities.' It added: 'Al-Fakhri also stressed the importance of enhancing bilateral cooperation between the federation and its Peruvian counterpart through signed agreements and a joint business council. He proposed increasing the exchange of trade delegations, organizing economic forums, and exploring investment prospects in sectors such as tourism, trade, and agriculture.' Peru opened an embassy in Riyadh in 2012, and the Kingdom followed suit in Lima in 2013, marking a milestone in their relations. Since then, economic and political ties have grown progressively, reflected in trade exchanges that have reached a peak of $188 million in recent years. Writing for Arab News ahead of his trip to Saudi Arabia, Salcedo said he is 'struck by how much potential lies in building bridges between our nations.' The minister highlighted opportunities for investors from the Kingdom across several sectors, adding that economic protections are 'reinforced by a legal framework that guarantees equal treatment for foreign investors and adherence to international investment protection mechanisms.' In energy, key initiatives include the petrochemical plant project, the Southern Peru Integrated Gas Transportation System, and the 2025–2034 Transmission Plan. In mining, major projects such as El Galeno and Los Chancas stand out, while infrastructure developments include the Andean Longitudinal Highway, the Ancon Industrial Park, and the Ilo Desalination Plant. These large-scale undertakings offer opportunities for Saudi investors to contribute to Peru's economic transformation while ensuring sustainable and profitable returns. 'Peru warmly welcomes Saudi businesses, investors and policymakers to discover the vast opportunities that this dynamic relationship can offer. Together, we can open new economic frontiers and lay the foundation for a future of shared prosperity, innovation and enduring cooperation,' said Salcedo.
Arab News
28-04-2025
- Business
- Arab News
Saudi Arabia, Egypt strengthen industrial ties with new initiatives
RIYADH: Saudi Arabia and Egypt are advancing efforts to strengthen their industrial and economic partnership, as officials emphasized the importance of trade facilitation, industrial integration, and government-backed support. Speaking at the Saudi-Egyptian Industrial Forum in Riyadh, Minister of Industry and Mineral Resources Bandar Alkhorayef announced that the Saudi Export-Import Bank has completed SR1.3 billion ($346.5 million) in operations, highlighting the strong bilateral relationship between the two nations. 'The industrial strategy emphasizes the importance of industrial integration with other countries, especially Egypt,' he stated, noting that cooperation pathways include industry, mining, and trade, as well as supply chains, human resources, research, and innovation. He highlighted the vital role of government agencies in supporting exporters and importers from both countries. Bandar Al-Ameri, chairman of the Saudi-Egyptian Business Council, highlighted that trade between the Kingdom and Egypt increased by 28 percent in 2024, citing the strengthening economic partnership between the business communities of the two nations. Al-Ameri pointed to the signing of a bilateral investment protection agreement as a strategic achievement and emphasized Egypt's role as a major economic partner and gateway to African markets. Hassan Al-Hwaizy, chairman of the Federation of Saudi Chambers, welcomed the Egyptian delegation, stating that Saudi-Egyptian economic relations are based on genuine partnership rather than figures alone. He called for enhancing cooperation in industry and trade and encouraged the establishment of joint projects, specifically to serve African markets. Vice Minister of Industry and Mineral Resources for Industrial Affairs Khalil Ibn Salamah explained that the industrial partnership focuses on five strategic sectors, including pharmaceuticals, automotive, construction materials, textiles, and food industries. He emphasized the strategic alignment between the industrial initiatives of both countries and urged Egyptian manufacturers to seize the opportunities available in the Saudi market, noting the Kingdom's target to establish 24,000 new factories over the next decade. The Saudi-Egyptian Industrial Forum, held in Riyadh under the patronage of the Saudi Minister of Industry and Mineral Resources, gathered more than 300 leaders and investors from the Saudi and Egyptian industrial sectors. Organized by the Federation of Saudi Chambers in cooperation with the Federation of Egyptian Industries, the forum focused on strengthening strategic cooperation and promoting pathways for industrial integration. The event also showcased available investment opportunities in priority sectors under the Kingdom's National Industrial Strategy, emphasizing the growing Saudi-Egyptian industrial base, which aims to expand investments in the pharmaceutical, automotive, construction materials, textiles, and food industries.
