Saudi Arabia explores investment opportunities & trade ties with Sweden

By Shilpa Annie Joseph, Official Reporter
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Saudi Arabia Pavilion
Representational Image

The two-day Saudi-Sweden event at Expo 2020 Dubai 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 event conducted panel discussions on Investment opportunities in Saudi Arabia and Sweden as well as explored how to boost trade relations.

Mr. Hussain Hanbazazah, Commissioner General of Saudi Arabia Pavilion highlighted how Swedish companies have operated in the Kingdom for over 70 years, noting 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.

Hussain Hanbazazah
Hussain Hanbazazah
Commissioner General
Saudi Arabia Pavilion – Expo 2020

“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. 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 eCommerce and information technology.”

Sessions on investing in Saudi Arabia and Sweden, Digital Transformation, including how governments can lead this, and Sustainability, building Saudi Arabia’s circular economy and related investment opportunities, as well as a case study on recycling in the Kingdom, were among the highlights of the two-day event. Additional panel sessions focused on smart manufacturing partnerships, as well as enabling smart and sustainable cities, as per the statement.

Mr. Niclas Trouvé, Ambassador of Sweden to Saudi Arabia, said that talks over the two-day event were mainly about “progressive performance.”

“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,” Mr. Trouvé added.

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