https://arab.news/8yasz
- Federation of Saudi Chambers announced the formation of the council for its 2024-2028 session
- Hashem Al-Zahrani has been appointed chairman, with Marwan Al-Mutlaq and Abdullah Al-Bassami as vice-chairmen
RIYADH: Economic relations between Saudi Arabia and Eastern Europe are set to strengthen with the launch of a regional business council aimed at unlocking promising investment opportunities.
The Federation of Saudi Chambers announced the formation of the council for its 2024-2028 session, the Saudi Press Agency reported.
Hashem Al-Zahrani has been appointed chairman, with Marwan Al-Mutlaq and Abdullah Al-Bassami as vice-chairmen.
The move aligns with the Kingdom’s goal to offer promising investment opportunities and strengthen trade partnerships.
Al-Zahrani said that the council will explore avenues for cooperation between the Kingdom and Eastern European countries in sectors aligned with Vision 2030, as well as those targeted in the economic cooperation agenda of these nations.
The move has the potential to provide Saudi investors with promising opportunities across a range of economic sectors.
Business councils, which include Saudi investors and their international counterparts under the Federation of Saudi Chambers, play a key role in enhancing the Kingdom’s global economic ties.
Saudi Arabia and Poland recently established a joint business council for the 2024-2028 term to boost trade and investment between the two countries.
The Kingdom’s General Authority for Foreign Trade finalized the formation of the Saudi-Polish Business Council, appointing Abdullah bin Mohammed Abu Dubeil as chairman and head of the executive committee.
The move is part of Saudi Arabia’s broader strategy to strengthen economic ties with Europe, with a particular emphasis on Poland, one of the continent’s largest economies.
In recent months, Saudi Arabia has been actively forming business councils with various countries, including Portugal, Uruguay, and Ethiopia, as well as Canada, Nigeria, Indonesia, and Malaysia.
These initiatives are aimed at enhancing the Kingdom’s global economic connections and fostering investment opportunities across diverse sectors.
The Federation of Saudi Chambers of Commerce and Industry, headquartered in Riyadh, is the official federation for the 28 Saudi Chambers.
Its primary goals are to advocate for the common interests of these chambers, represent them locally and internationally, and support the private sector’s role in advancing the national economy.