Riyadh, (Business News Report) – A two-day Saudi-Sweden event at Expo 2020 Dubai discussed investment opportunities between Saudi Arabia and Sweden.
The event took place on January 16-17 at the respective pavilions, where a series of panel discussions explored how to boost trade relations.
The event was organized by the pavilions of Saudi Arabia and Sweden, in collaboration with the Saudi Ministry of Investment (MISA), Invest Saudi, the Embassy of Sweden, and Business Sweden.
The opening remarks were given by Niclas Trouvé, Ambassador of Sweden to Saudi Arabia; Hussain Hanbazazah, Commissioner General of Saudi Arabia Pavilion; and Jan Thesleff, Commissioner General of the Swedish Pavilion.
Commissioner General Hussain Hanbazazah highlighted how Swedish companies have operated in the Kingdom for over 70 years. He noted that Saudi Arabia is Sweden’s largest economic partner in the Middle East and No 1 trade partner among the Scandinavian countries, with the volume of trade exchange in the past five years reaching more than $6 billion.
“As a continuation to our historical relationship, we are inspired by the efforts made by our leaders towards advancing bilateral relations between our two countries, resulting in the recent establishment of the Saudi-Swedish Business Council in Stockholm, exchanging expertise and knowledge, and setting plans and programs to seize investment opportunities and turn them into tangible partnerships,” he said.
“Saudi Arabia welcomes and invites Swedish companies to invest in our country and to take advantage of the opportunities and initiatives of the Kingdom’s Vision 2030, especially in sustainability, smart cities, manufacturing industries and areas such as e-commerce and information technology.”
The event addressed investing in Saudi Arabia and Sweden; Digital Transformation; including how governments can lead this; and Sustainability, including building Saudi Arabia’s circular economy and related investment opportunities, featuring a case study on recycling in the Kingdom.
The panel discussions also discussed sustainable mining, collaboration within smart manufacturing and enabling smart and sustainable cities.
Talks over the two-day event were mainly about “progressive performance,” said Niclas Trouvé, Ambassador of Sweden to Saudi Arabia.
“Saudi Arabia and Sweden have a fantastic journey ahead, to protect people and the planet through sustainable and green solutions. We have to do this together through strengthening partnerships between governments and the private sector in order to move forward together,” he said.