The British-Saudi business, trade and Partnership Forum, organized by the National Competitiveness Center, the Saudi-British Joint Business Council and the Federation of Saudi Chambers, was launched in London today, with the participation of Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi, British investment minister Lord Dominic Johnson, and 300 leading representatives of the business sector in the kingdom of Saudi Arabia and the United Kingdom.
The forum aims to review the progress achieved in the implementation of the kingdom's Vision 2030 since its launch in 2016, in addition to discussing trade relations, investment opportunities and partnership, and enhancing cooperation within the framework of the areas agreed in the strategic partnership between the two countries, including financial and professional services, clean energy, education, healthcare and creative industries.
The forum was attended by the ambassador of the kingdom to the United Kingdom, His Royal Highness Prince Khalid bin Bandar bin Sultan bin Abdulaziz, the British ambassador to the kingdom, Mr. Neil Crompton, and the interim honorary mayor of the financial district of the city of London, Sir William Russell.
During his speech, His Royal Highness Prince Khalid bin Bandar bin Sultan bin Abdulaziz welcomed the attendees and participants, adding that what the kingdom of Saudi Arabia has done over the past seven years is an unprecedented evolutionary revolution, as the kingdom of Saudi Arabia is now listing its achievements since the launch of Vision 2030 in 2016.
The forum sessions included a ministerial conversation with the participation of Trade Minister Dr. Majid bin Abdullah Al Qasabi and British investment minister Lord Dominic Johnson.
Minister of Commerce Dr. Al-Qasabi stressed that the kingdom is a prominent trading partner of the United Kingdom with a trade exchange volume exceeding 80 billion riyals in 2022, with a growth rate of more than 68% compared to 2021.
During the joint session, Al-Qasabi explained the kingdom's keenness, through Vision 2030, to strengthen economic relations with the United Kingdom, stimulate communication and mutual visits of businessmen, as the forum is an opportunity to overcome obstacles to the private sector; to expand projects and increase the volume of trade exchange.
For his part, the British minister of investment explained that everyone clearly sees the achievements of Saudi Vision 2030, especially those related to the vision's targets in the fields of renewable energy, technology, infrastructure, green finance, and other vital priority areas.
For her part, Deputy Minister of Commerce and CEO of the National Competitiveness Center, Dr. Iman bint Habas Al-Mutairi, reviewed the most important reforms implemented to enhance the competitiveness of the kingdom, in addition to promising opportunities for more than 300 leaders from the government and private sectors in the two countries participating in the forum.
For his part, the chairman of the Saudi-British Business Council, Dr. Emad al-dhukair, said that this Forum coincides with the 24th anniversary of the establishment of the Joint Business Council, which played important and historical roles in advancing the course of trade and investment relations between the two friendly countries, adding that the Saudi and British business sectors are working closely to create wonderful and promising investment opportunities between the two countries in various economic sectors, which could reach about 70 billion pounds.
For his part, the head of the National Development Department at the public investment fund, Mr. Jerry Todd, addressed the role of the fund in activating and developing promising sectors, existing and new ones, and increasing their attractiveness to the private sector in line with the Saudi Vision 2030.
The forum held three discussion sessions: "possible financial and trade reforms for the private sector","real estate and sustainable infrastructure", and "unlocking the potential of the service economy in the sectors of Education, Tourism, Culture and creative industries".
The forum's activities included the announcement of the launch of the "sad Green Fund", which aims to invest 1.39 billion riyals in the real estate sector around the world, in addition to reviewing the success stories of a number of startups from both sides, in addition to holding three workshops, the first of which dealt with" technical innovation and the development of the digital economy", while the second dealt with" doing business in Saudi Arabia", and the last was entitled"Building a new service economy based on education and skills".
The forum was attended by the ministries of Commerce, Energy, Education, municipal and Rural Affairs, housing, investment, culture, tourism, the public investment fund, the Saudi central bank, the Saudi data and artificial intelligence authority, the National Competitiveness Center, and the Saudi Labor Center.
From the business and non-profit sectors: Mohammed bin Salman Foundation "MiSK", Roshen Real Estate Group, Federation of Saudi Chambers, Saudi-British Joint Business Council, Murud investment company, Fanar International Development, colleges of excellence, Malaya financial technology company, Lin financial technology company, and Graphine Ventures.