Saudi-Arab-African Economic Conference discusses joint efforts between Saudi Arabia and Africa
The second session of the Saudi-Arab-African Economic Conference is on-going at the in the Riyadh, the Kingdom of Saudi Arabia.
The session which is on the theme ‘Investing in the Future’ is discussing the importance of how Saudi-Arab-African can join efforts to build a sustainable future in the economic field.
Kingdom Saudi Arabia Minister of Investment, Khalid Bin Abdulaziz Al-Fali said the Kingdom had been working with various continents in the cultural and economic fields over the past years, including Africa.
He cited features that were characterized with the African Continent, including its human resources and how they could take advantage of it to boost trade and commerce.
Mr Abdulaziz Al-Fali also highlighted the challenges facing the African continent and being addressed through cooperation agreements aimed at increasing investment in African countries.
He emphasized Saudi Arabia’s commitment to economic sustainability in investments and to integrating various types of investors in Africa.
The Saudi Investment Minister noted that companies in Saudi Arabia had many promising opportunities in the Kingdom, including fields such as new energy, hydrogen and renewable energy, as well as investments in South Africa and agreements with Egypt.
He mentioned Aramco, a Saudi Company that provides energy and also invests in infrastructure, with investments in Kenya being a prime example of the Kingdom’s efforts in Africa and stressed the importance of investments that seek to integrate digital technology in addition to Saudi investments in the agricultural sector.
Mr Abdulaziz Al-Fali added that investment in the agricultural field was important for the Saudi Private Sector in Africa to enhance food security, as well as investment in the mineral sector, the health sector, the tourism sector, and the aviation sector.
He emphasized the importance of Saudi companies working to enhance investment efforts in Africa.
Source: GNA