Jeddah Chamber Organizes Meeting of Minister of Investment with Businessmen and Businesswomen

Jeddah, Saudi Arabia –

Jeddah Chamber of Commerce organized today a meeting with His Excellency the Minister of Investment, Eng/ Khalid bin Abdulaziz Al-Falih, with businessmen and businesswomen, in the presence of the Chairman of the Chamber's Board of Directors, Mr./ Muhammad bin Yousef Naghi, members of the Board of Directors, and dignitaries of the community. The meeting aimed to unify efforts between the Ministry, investors, and national companies and to consolidate the integration of the private sector with the national investment strategy, in line with the Kingdom's Vision 2030, to expand the investment base and explore more promising opportunities.

The meeting was opened by the Chairman of Jeddah Chamber, Mr./ Muhammad bin Yousef Naghi, who welcomed His Excellency the Minister of Investment and his keenness to meet with businessmen and businesswomen. This is the first meeting hosted by the Chamber after the formation of its new Board of Directors for the 23^rd session, amidst aspirations and hopes aimed at promoting investment and development and serving the business community, which enhances the prominent position of the private sector and its various institutions.

Naghi pointed out that such effective meetings play an important role in highlighting promising investment opportunities in all fields, ways to enhance cooperation with investors, and identifying the challenges that may face the business community and the development of their investments in general, and addressing them with the relevant parties. He also reviewed the work of the sectoral councils formed by the Chamber to contribute effectively to stimulating the growth and prosperity of the main competitive sectors.

He also affirmed the Chamber's keenness to build effective partnerships and relations with the Ministry of Investment, which focuses on holding meetings and gatherings to pay attention to the competitiveness of the Kingdom's regions and stimulate their investments, in light of the interest of Kingdom's government in strengthening the relationship with the private sector, investment, and investors. He expressed his hope for such meetings to be repeated, which will contribute to the development and strengthening of relations with the private sector and expanding its investment base.

His Excellency the Minister of Investment, Eng./ Khalid bin Abdulaziz Al-Falih, expressed his thanks to the President of Jeddah Chamber and its leadership for holding this meeting, which enriches ways of cooperation and strengthens the relationship between the business community and the Ministry of Investment, which is working on a number of projects and initiatives in line with the directions and aspirations of the private sector. He referred to the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and His Royal Highness the Crown Prince - may Allah protect them - to strengthen the role of the private sector in the national economy, within the framework of the National Investment Strategy, which was launched by His Royal Highness the Crown Prince - may Allah protect him - in October 2021 to increase investment in the Kingdom to stimulate economic growth and assign a greater role to the private sector.

His Excellency pointed out that the Ministry has achieved a number of achievements and is striving to achieve more in close cooperation with the private sector. In addition to preparing the National Investment Strategy, it has launched an upgraded version of "INVEST SAUDI" platform to be comprehensive for all investment opportunities, issued investment licenses to investors from about 90 countries, and issued licenses to more than 44 global companies to transfer their regional headquarters to Riyadh. The Ministry has also expanded its network of international offices in a number of targeted countries. In addition, the Ministry has a number of initiatives such as the Supply Chain Attraction Program, the Investment Opportunity Enhancement Initiative through Attracting Regional Headquarters, financing pillar initiatives, launching special economic zones with attractive competitive regulations, and approving special investment incentive packages. In addition to launching an integrated program to improve the investment environment and competitiveness.

He stressed the Ministry's keenness on the continuous communication with the private sector, as a General Department has been established to be concerned with conveying the investor's voice with his priorities and challenges, and the establishment of the Investment Council to be a link between investors, the Ministry, and related government entities through which the challenges facing various investment sectors are raised and initiatives and solutions are proposed to address them in a scientific, practical, and applicable manner that improves the investment environment in the Kingdom.

The meeting also witnessed the opening of the floor for discussion and interventions between the attendees from businessmen and businesswomen, and His Excellency the Minister of Investment, which summarized the most prominent aspirations of the Ministry to support investments and develop promising opportunities that contribute to enriching the investment movement in the Kingdom.