G20 diplomatic feat

JEDDAH: Deputy Crown Prince Mohammed bin Salman held 15 meetings on the sidelines of the G20 Summit in Hangzhou, China, with commanders, world leaders and senior officials in 40 consecutive hours from Saturday till Monday noon, a meeting every two-and-a-half hours on average.

The meetings are testimony to the prestige enjoyed by Saudi Arabia on the world stage and to its strong ties with both West and East.
They were not merely diplomatic events, but an acknowledgement of the large Saudi presence in all international arenas.
Leading Shoura Council members said the deputy crown prince’s visits will have a positive impact on the economic growth of the Kingdom, and the world economy as a whole, and will help achieve the objectives of Saudi Vision 2030.
Abdul Rahman Al-Rashed, chairman of the Committee of Economy and Energy at the Shoura Council, said Prince Mohammed’s visits to China and Japan come after successful visits to the US and France and they all aim at strengthening Saudi economic relations with strategic partners.
He said the visits to countries that play significant roles in the stability of the global economy, such as Japan, China, the US and France, will, in turn, enhance trade and investment relations between Saudi Arabia and the rest of the world.
Al-Rashed said Prince Mohammed also expressed Saudi Arabia’s keenness to diversify its sources of income and to welcome foreign investments, especially from countries eager to play a role in implementing Vision 2030.

He said the investment environment in the Kingdom is quickly becoming a magnet for direct and indirect foreign investment, which is important because foreign investment plays a big role in the sustainable growth of local economies and reflects positively on the global economy, especially when taking into consideration the fact that Saudi Arabia is a strategic player in the global energy market.
Al-Rashed also said that strategic relations with China and Japan are important during the next stage and that these visits will bear fruit in the near future.
Saadoun Al-Sadoun, member of the Committee on Transport, Communications and Information Technology at the Shoura Council, said the Kingdom has a mighty global economic weight as a member of the G20.
His visits to Japan and China will only strengthen economic relations with these global economic blocs, he said, pointing out that Vision 2030 needs such strategic partnership and cooperation with countries that also have a clear impact on the global economy.
By building ties with China and Japan, the Kingdom is keen on looking for strategic partners for industry and joint investments, he said.
As China and Japan are among the largest importers of Saudi oil, there are common economic interests that could result in more joint investments in other economic fields. Such investments will also help realize a key pillar of Vision 2030, which is to create new job opportunities for Saudi youth through joint ventures, said Saadoun.
He said that the geographical location of the Kingdom will make it the focus of attention for investors and many foreign companies.