Latest news with #SwedishCompanies
Al Etihad
15-06-2025
- Business
- Al Etihad
Swedish companies in UAE upbeat about growth prospects
16 June 2025 00:08 Mays Ibrahim (ABU DHABI)Seventy-one percent of Swedish companies operating in the UAE view the business climate as good or very good, according to the 2025 edition of the Business Climate Survey for Swedish Companies in the survey, released by Business Sweden in the UAE, gathered responses from 46 Swedish companies active on the mainland or in one of the UAE's more than 40 economic free revealed that 67% of Swedish companies in the Emirates expect their industry turnover to increase, and half plan to increase their investments slightly or significantly in the next 12 report's findings point to the UAE's role as a critical regional business hub, as many Swedish companies use it as a springboard into neighbouring GCC countries, as well as wider markets across the Middle East, Africa and South sentiment is dominant across businesses of all sizes, especially in the industrial segment with 68% of firms anticipating turnover key factors behind Swedish companies' success in the UAE include partnerships and relationships, sales competence and cost firms also highly appreciated personal safety, physical infrastructure, and access to quality distributors and service providers in the no company reported exposure to corruption, such as fraud or attempts of bribery from public bodies and internal firms have operated in the UAE since the 1960s, with around 200 Swedish companies now present in the to the report, the UAE remains Sweden's largest trading partner in the MENA region. In 2024, Swedish exports to the UAE grew by 33% compared to the year before, reaching $1.6 billion. Swedish direct investment flows to the UAE also saw a sharp rise to $618 million in 2023.
Asharq Al-Awsat
07-06-2025
- Business
- Asharq Al-Awsat
Swedish Ambassador: Swedish Companies Planning on Setting up Regional Headquarters in Saudi Arabia
Relations between Saudi Arabia and Sweden are witnessing rapid development with the expansion of cooperation in the fields of innovation, logistics and services and others. Swedish Ambassador to Saudi Arabia Petra Menander told Asharq Al-Awsat that the Saudi-Swedish joint committee is currently working on further deepening relations. 'In November last year, we agreed on 45 activities across four sectors to improve our cooperation, half of which have been implemented,' she added. 'Sweden and Saudi Arabia are natural partners in the global transition toward a more sustainable, knowledge-based economy,' she remarked. 'The presence of approximately 60 Swedish companies in the Kingdom, many of which are expanding their operations, demonstrates strong confidence in the Saudi market and its long-term potential,' she stressed. 'Saudi Arabia is Sweden's largest trading partner in the Middle East and North Africa. While trade volumes vary year to year, the overall trajectory is one of steady growth. Our bilateral trade grew almost 5 % last year and has increased by more than 90% since 2018,' the ambassador went on to say. Moreover, Menander added: 'As the European Union, we are Saudi Arabia's most important partner for investments and trade and that is a relationship that can grow deeper. Sweden is one of the strongest supporters of free trade within the European Union and we believe that there is a great potential to further increase trade between our countries.' 'Half of the Swedish companies have or are planning to set up regional headquarters in Saudi Arabia, many of them are engaged in local manufacturing in the Kingdom and they invest in research and in training the thousands of young Saudi talents they employ,' she said. She added that Sweden has a strong desire to expand in green energy and smart climate solutions. Swedish companies, such as Hitachi Energy, ABB and Systemair, are contributing to energy efficiency, electrification, and renewable infrastructure. In the fields of logistics and infrastructure, she noted that 'Swedish engineering and design firms are contributing to the planning and execution of major infrastructure projects and have a strong track record in delivering leading solutions for major projects, including within road, rail and air transport with companies such as Sweco, Volvo Trucks and Scania.' Healthcare and life sciences are among the foundations of cooperation. 'Swedish firms such as Diaverum, Getinge, and AstraZeneca are delivering high-quality care and conducting clinical research in the Kingdom,' said Menander. Furthermore, she revealed that Swedish companies, such as Epiroc and Quant, are helping to modernize and decarbonize the mining sector through advanced technologies. Sweden is also a global leader in digital maturity and connectivity. Companies like Ericsson are not only advancing 5G and 6G technologies but also investing in local R&D partnerships, added the ambassador. In terms of smart industry and automation, she said: 'With companies like Tetra Pak, Roxtec and SKF, Sweden supports the development of sustainable and efficient industrial ecosystems.' These areas reflect Sweden's strengths in innovation, equality, and long-term thinking essential for building resilient and future-ready economies, added the ambassador. Furthermore, Menander described ties between Saudi Arabia and Sweden as excellent. 'They are grounded in mutual respect, shared ambitions, and a commitment to long-term partnership. Our kingdoms are united by a forward-looking vision - one that embraces creativity, working together towards sustainability and growth,' she told Asharq Al-Awsat. 'In foreign policy our positions align om many key areas, as was seen during political consultations in Stockholm between Vice Minister of Foreign Affairs Eng. Waleed bin Abdulkarim El-Khereiji and State Secretary for Foreign Affairs Dag Hartelius.' She also noted the 'close cooperation between Saudi and Swedish business sectors, where there are great opportunities to enhance the partnership between our two countries.' 'I attended the executive meeting of the Saudi-Swedish Joint Business Council in Stockholm in May, where leading private companies from our two kingdoms discussed new economic initiatives,' she said. 'There about 60 Swedish companies with a presence in Saudi Arabia feel at home and are committed to strengthening their ties with the Kingdom. According to a Business Climate Survey which was conducted among Swedish companies and just published, 91% view the business climate as good or very good and 74% plan to increase their investments.' 'We also see an exciting dialogue in new areas, for instance through Swedish participation in the recent Arab European Cities Dialogue, where participants from Sweden saw many similarities when two regions came together to discuss governance, urban planning, and digitalization for a better future,' stressed Menander. 'We see that the numbers of visitors in both directions between our countries are going up, and we see new partnerships budding almost every day. We see more Saudi film and music appearing in Sweden and we increasingly see Swedish fashion, music and gaming in Saudi Arabia,' she remarked. 'In fact, I often meet young Saudis who know about Sweden because they work for Swedish companies like Ikea and H&M.' 'Finally, we see a great interest in deeper cooperation in the field of innovation. Sweden ranks among the most innovative countries in the world and Saudi Arabia makes impressive investments into building an innovative ecosystem with close links between research and entrepreneurship,' she noted. 'We are happy to see that the cooperation is flourishing, including through institutional cooperation and by visits of start-ups both from Saudi Arabia to Sweden and from Sweden to Saudi Arabia,' continued Menander. 'Our cooperation spans a wide range of sectors where Swedish expertise and values align closely with the ambitions of Vision 2030. During our recent national day celebration, some of our companies displayed examples of how they contribute to these goals,' she said. 'These investments are aligned with Saudi Arabia's Vision 2030, focusing on sectors such as green transition, healthcare, logistics and smart manufacturing and in many cases also include investments into research and development in Saudi Arabia,' the ambassador stated. 'In parallel, we see a growing interest in collaboration between Swedish and Saudi incubators, particularly to support small and medium-sized enterprises (SMEs).' 'In May, Business Sweden, the Swedish Trade and Invest Council in Riyadh, organized two trade delegations to Saudi Arabia. The first focused on infrastructure projects and included Swedish companies specializing in digital solutions, construction equipment, energy, waste management, and air and water treatment solutions. These companies explored how Swedish expertise could contribute to Saudi Arabia's Vision 2030 by engaging with several giga projects,' Menander explained.
Zawya
28-05-2025
- Business
- Zawya
Egypt, EU to launch $2bln investment guarantees in June: Al-Mashat
Arab Finance: Egypt and the European Union (EU) will launch an investment guarantees mechanism valued at €1.8 billion next June, Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, announced. On the sidelines of the Egypt-Sweden Business Forum, Al-Mashat noted that the mechanism aims to attract private capital and mobilize major investments across key sectors, such as energy, infrastructure, digitalization, water, agriculture, and climate resilience. These guarantees will also contribute to mobilizing additional funding from European and international development banks, reinforcing the investment landscape in Egypt, Al-Mashat added. This is in addition to creating new opportunities for the private sector, including Swedish companies. The minister indicated that Swedish firms operating in Egypt play a vital role in driving innovation, securing job opportunities, and enhancing industrial efficiency. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
