Riyadh, February 06, 2024, The Saudi-Switzerland Roundtable Meeting convened in Riyadh yesterday, drawing high-profile attendees including Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih, Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef, and Federal Councillor Guy Parmelin, who heads Switzerland's Department of Economic Affairs, Education, and Research. The gathering also welcomed CEOs from leading companies in both nations, along with a cohort of government officials and private sector representatives from Saudi Arabia and Switzerland.
During the discussions, Al-Falih highlighted the Kingdom's burgeoning investment landscape, projecting opportunities to soar beyond $3.3 trillion by the decade's end. This robust outlook promises vast prospects for companies and investors across various economic sectors. Al-Falih delved into shared interests spanning financial services, infrastructure, healthcare, and tourism sectors, underscoring areas ripe for collaboration.
Parmelin, in turn, lauded the Kingdom's recent milestones, including securing the bid to host Expo 2030 in Riyadh, the upcoming staging of the World Cup 2034, and other notable achievements showcasing the Kingdom's commitment to attracting and facilitating investments. Switzerland voiced eagerness to partake in the Kingdom's impressive developmental journey, underscoring the steadfast investment and economic ties between the two nations.
The meeting delved into a comprehensive review of investment opportunities, aiming to bolster bilateral investment relations and foster closer economic ties between Saudi Arabia and Switzerland. Emphasis was placed on nurturing quality investments and entrepreneurship among major corporations, with a focus on empowering the private sector to seize investment opportunities in both jurisdictions.
Culminating the discussions, the two sides inked three Memoranda of Understanding (MoUs). The Ministry of Investment signed an MoU in the realm of entrepreneurship, signaling collaboration to develop investment prospects within the Kingdom. Additionally, private sector representatives sealed two MoUs in technology and real estate domains, solidifying commitments to advance cooperation and capitalize on mutually beneficial opportunities.
