40 Saudi, German firms discuss investment opportunities at FSC
The Federation of Saudi Chambers (FSC), at its headquarters Tuesday, organized the Saudi-German Business Forum with the participation of 40 Saudi and German companies from various economic sectors, as part of a visit by a German industrial delegation to Saudi Arabia.
The German delegation comprises companies working in the fields of water, training, education, infrastructure, industries, constructions, innovation, vehicles, medical technologies, energy, technology, and artificial intelligence.
Dr. Abdurahman Al-Zamel, head of the Saudi side, discussed what Saudi Arabia is witnessing in terms of big developments in the economic and stimulus investment environment, as well as reviewing investment opportunities available for German companies in all sectors, particularly at the industrial level, which is experiencing a qualitative leap in light of the Kingdom Vision 2030.
For his part, Volker Lenweber, managing director of Foreign Trade for the Bavarian Industry Association, praised the economic progress of the Kingdom of Saudi Arabia and expressed the delegates' interest in enhancing business relations with the country, particularly in the industrial sector and looking into potential investment opportunities.
He noted that Germany's cutting-edge products and expertise could significantly contribute to the success of industrial projects in the country.
Germany is one of Saudi Arabia’s most important trading partners, where relations between the two countries are based on a solid institutional base represented by the Saudi-German Joint Committee and the Saudi-German Business Council, in addition to a number of memorandums and various cooperation agreements.
The commercial exchange volume between Saudi Arabia and Germany in 2020 reached some SR28.5 billion, where Germany ranks 62nd in the Kingdom's exporting countries and 4th in importing countries.