Latest news with #HassanAl-Huwaizi
Budapest Times
09-05-2025
- Business
- Budapest Times
Hungarian-Saudi Business Council host forum in Budapest
Péter Kárpáti, the Hungarian co-chair of the Council, said representatives from 100 Hungarian companies participated in the forum. The Hungarian-Saudi Business Council hosted a Hungarian-Saudi Business Forum in Budapest between May 6 and 8. Péter Kárpáti, the Hungarian co-chair of the Council, said representatives from 100 Hungarian companies participated in the forum. Hassan Al-Huwaizi, the chairman of the Federation of Saudi Chambers of Commerce and Industry, said business ties could be enhanced by focusing on cooperation based on knowledge and technology transfers in the long term. He added that cooperation in the food and machinery industries could be expanded to tourism, energy, smart technologies, fintech solutions and water management. The Hungarian Chamber of Commerce and Industry (MKIK) said forum participants worked to ensure Hungarian companies play a role in Vision 2030, Saudi Arabia's blueprint for diversifying its economy. The sides have agreed to organize another business forum in Saudi Arabia later this year.
Arab News
23-04-2025
- Business
- Arab News
Saudi Arabia, Ethiopia target key sectors in push to deepen economic ties
JEDDAH: Saudi Arabia and Ethiopia plan to boost economic cooperation in key sectors — including agriculture, manufacturing, and tourism — as officials from both nations met at a forum in Riyadh. The event, organized by the Federation of Saudi Chambers, brought together more than 150 representatives from the public and private sectors of both countries, the Saudi Press Agency reported, and marked the first major gathering since the establishment of the Saudi-Ethiopian Business Council last year. The initiative aligns with Saudi Arabia's strategy to strengthen economic ties with African nations and explore new investment opportunities and markets, recognizing Ethiopia's potential as a favorable investment environment, a key trade gateway to the continent. Ethiopia's State Minister for Trade and Regional Integration Abdulhakim Mulu invited Saudi investors to explore opportunities in key sectors including agriculture, food industries, and tourism, as well as hospitality and manufacturing. He emphasized Ethiopia's rapid economic growth and the government's commitment to improving infrastructure and fostering a favorable investment climate. Federation of Saudi Chambers Chairman Hassan Al-Huwaizi stated that Saudi Arabia is actively working to strengthen its relations with African countries, particularly Ethiopia, which serves as a strategic gateway for Saudi exports to the continent. 'He noted Ethiopia's natural resources and potential in agriculture, food industries, and mining, adding that the limited trade volume, which is merely SR1.3 billion ($347.1 million), indicates untapped investment opportunities,' SPA reported. The Saudi-Ethiopian Business Council was formally approved by the Saudi General Authority for Foreign Trade last year to enhance bilateral trade and investment. Its formation followed agreements reached during a prior forum held on June 5 in Addis Ababa. As both nations seek to deepen their economic engagement, the council is expected to play a pivotal role in unlocking new opportunities, boosting bilateral trade, and fostering a more integrated economic partnership between Saudi Arabia and Ethiopia. According to a 2024 World Bank report, Ethiopia — home to 126.5 million people as of 2023 — is the second most populous nation in Africa and one of the continent's fastest-growing economies, recording a 7.2 percent growth rate in the 2022/2023 fiscal year. Despite this progress, Ethiopia remains one of the world's poorest countries, with a gross national income per capita of $1,020. The country aims to achieve lower-middle-income status by 2025, building on years of infrastructure-driven growth that have helped reduce poverty and improve access to essential services.
Saudi Gazette
10-02-2025
- Business
- Saudi Gazette
Saudi business delegation to explore Kenya, Tanzania and Rwanda markets
Saudi Gazette report RIYADH — A high-level delegation from the Federation of Saudi Chambers will begin a visit to Kenya, Tanzania and Rwanda on Monday. The delegation will hold meetings with senior government officials in in the three African countries as well as the private sector to discuss investment opportunities and sign important trade agreements and partnerships. The delegation, headed by the Federation's President Hassan Al-Huwaizi, includes more than 25 business owners representing major Saudi investors from various economic sectors and representatives of some government tour comes in line with Saudi Arabia's orientation toward strengthening its relations with the countries of the African continent, to reach more than 1.3 billion people in these promising delegation will begin its visit program in Kenya by holding the Saudi-Kenyan Business Forum. In Tanzania the delegation will hold the Saudi-Tanzanian Business Forum, and will conclude the African visit after holding the Saudi-Rwandan Business Forum in Rwanda. It will meet with a number of ministers, officials and company executives in the three meetings are expected to highlight investment opportunities in Saudi Arabia, Kenya, Tanzania and Rwanda. The business environment and partnership opportunities between business sectors in various economic fields will be visit also seeks to increase the volume of trade exchange between Saudi Arabia and these countries, which is a strong indicator of the existence of many potential investment opportunities that the visit will reveal. The Federation of Chambers, through its series of foreign visits that recently included ten countries, is leading efforts to open new markets and opportunities and increase the volume of trade and investment exchanges with countries around the world, in order to achieve the goals of Saudi Vision 2030.
