Riyadh, December 30, 2024 — In a significant move to bolster bilateral economic ties, Ibrahim Almubarak, Assistant Minister of Investment and acting CEO of the Saudi Investment Promotion Authority (SIPA), co-chaired the Saudi-Qatari Roundtable alongside Mohammed bin Hassan Al Malki, Undersecretary of the Ministry of Commerce and Industry of Qatar. The event, held in Riyadh, brought together a distinguished group of business executives, company officials, and industry leaders from both nations to discuss and explore the growing potential for cross-border investment.
The roundtable, which served as a platform for fostering stronger economic cooperation between Saudi Arabia and Qatar, focused on identifying and nurturing investment partnerships across a range of key sectors. The discussions covered various areas of mutual interest, including communications, information technology, banking services, industry, mining, construction, tourism, aviation, and health services. These sectors were highlighted as critical components of the two countries’ ongoing efforts to diversify their economies and strengthen their positions in the global market.
A key element of the roundtable was the presentation of two key initiatives: Invest Saudi and Invest Qatar. These platforms aim to introduce investors and businesses from both countries to the business environments and investment opportunities available within each nation. The presentations provided an in-depth overview of the investment landscapes in both Saudi Arabia and Qatar, emphasizing the support structures, incentives, and regulations that encourage foreign investment and foster a business-friendly climate.
The discussions highlighted the growing importance of fostering deeper economic ties between the two Gulf nations, which share strong historical, cultural, and economic bonds. Both Saudi Arabia and Qatar are actively pursuing strategies to diversify their economies under their respective Vision 2030 and Qatar National Vision 2030 frameworks. These visions focus on reducing reliance on oil and gas revenues by investing in non-oil sectors such as technology, tourism, and healthcare, areas where both nations see immense growth potential.
The event provided an excellent opportunity for networking and forging strategic partnerships that can help fuel economic growth in both countries. Executives and business leaders from across sectors shared insights on how they could collaborate more effectively, leveraging the strengths of both economies. The roundtable also served as a reminder of the pivotal role that collaboration between Saudi Arabia and Qatar will play in advancing their mutual economic ambitions.
As the two nations continue to invest in their long-term economic goals, the Saudi-Qatari roundtable marked another important step in fostering deeper cooperation and expanding opportunities for businesses in both countries. It is expected that initiatives such as Invest Saudi and Invest Qatar will continue to drive investment flows and contribute to the development of a more integrated regional economy.
With continued dialogue and strengthened partnerships, the event underscored the promising future for Saudi-Qatari economic collaboration, positioning both nations to take advantage of new opportunities and navigate the global economic landscape together.