2024-05-06 19:14:50
The joint action program includes the operationalization of direct maritime transport line projects, particularly between the ports of Jeddah and Tangier Med, the creation of a joint investment fund and support for Saudi companies in the access to African and European markets, the intensification of the activities of trade delegations, exhibitions and the exchange of information on opportunities and markets, as well as the acceleration of the pace of participation of Moroccan companies in Vision 2030 projects .
This is what emerges from the Saudi-Moroccan Economic Forum, organized by the Union of Saudi Chambers, in collaboration with the General Confederation of Moroccan Enterprises (CGEM), and whose work continued on Monday in Riyadh, with the participation of more than 250 Saudi and Moroccan companies and representatives of the public and private sectors with the aim of presenting the environment and investment opportunities available in the Kingdoms of Saudi Arabia and Morocco and the role of funds and partners Saudi financiers in supporting international investors.
The work of the forum was marked on Monday by bilateral meetings between businessmen and entrepreneurs from the two countries to discuss partnerships and explore investment opportunities available between Moroccan and Saudi companies in various sectors, including tourism, agriculture, industry, finance, renewable energies, real estate, construction, services, health and technology.
In this regard, the President of the Saudi-Moroccan Business Council, Mohammed bin Fahd Al-Hammadi, indicated in statements to the press that the Kingdom of Saudi Arabia grants interest to several sectors in the Kingdom of Morocco, focus on automobiles, tourism and maritime transport, in order to promote joint investments, increase the volume of intra-regional trade as well as exports to West African markets.
He added that Saudi Arabia seeks to benefit from Morocco’s successful experience in the automobile industry, noting that it is expected that a Saudi delegation will visit Morocco to closely observe the development of the automobile production system. in partnership with European countries.
After bilateral meetings between businessmen from the two countries, the Moroccan delegation will visit the headquarters of the Saudi Export-Import Bank to learn about the mechanisms of its operation as well as the incentives and facilities it offers to investors .
President of the Union of Saudi Chambers, Mr. Hassan Al-Huwaizi, affirmed in his speech at the forum that Saudi-Moroccan relations have seen tangible momentum and development, as well as improvement in trade and investment. , noting that the volume of trade increased fivefold to reach more than 16 billion riyals, while exports and imports from the Kingdom of Saudi Arabia to Morocco reached high growth rates.
For his part, the president of the CGEM, Mr. Chakib Alj, explained that the integration of the Moroccan and Saudi economies offers great opportunities for investment and partnerships, noting that 250 Saudi companies invest in Morocco and 20 Moroccan companies in the Kingdom of Saudi Arabia.
He expressed Morocco’s aspiration to accelerate the pace of investment by Moroccan companies in projects that are part of Saudi Arabia’s Vision 2030.
For his part, the Moroccan Ambassador to Riyadh, Mr. Mustapha Mansouri, highlighted the economic reforms carried out in Morocco, which have strengthened confidence in the business climate and the future of the Moroccan economy, stressing that the Vision 2030 of the Kingdom constitutes an appropriate framework for the development of economic relations between the two countries.
The President of the Moroccan-Saudi Business Council, Mr. Khalid Benjelloun, also discussed sectors with potential for Saudi-Moroccan cooperation, such as energy, automobiles, construction, tourism, food and textiles, calling for the relaxation of import procedures and customs barriers.
2024-05-06 19:14:50