Danish delegation targets Saudi trade opportunities
Danish delegation targets Saudi trade opportunities
The two leaders reviewed bilateral relations while discussing various aspects of cooperation between the two countries and agreed on ways to further enhance relations.
King Salman hosted a banquet luncheon for Crown Prince Frederik and his accompanying delegation at his palace.
Crown Prince Frederik and his wife Princess Mary, accompanied by a huge delegation of senior ministers including foreign minister Kristian Jensen and high-ranking government officials and senior business executives, are on a three-day visit to Saudi Arabia.
They were received at the King Khalid International Airport by Riyadh Gov. Prince Faisal bin Bandar.
A Danish embassy official said that the crown prince is scheduled to take part in a number of business activities with focus on strengthening trade for Danish business concerns in several areas such as sustainability, health, food products, education and design.
Crown Prince Frederik, along with Dr. Abdulrahman Al-Zamil, chairman of the Council of Saudi Chambers, is scheduled to jointly open the Saudi-Danish business forum on Monday.
Senior executives from about 44 Danish companies and several interest groups including Confederation of Danish Industry (CDI) and the Danish Agriculture and Food Council (DAFC) to promote Denmark’s export interests will attend the forum.
The Riyadh Chamber of Commerce and Industry (RCCI), in collaboration with the CDI and DAFC, will host the Saudi-Danish Business Forum and Exhibition at a hotel in Riyadh. Danish companies will display their products.
The Danish Crown Prince and his accompanying delegation also visited the historic Al-Dirriyah area. Notably, the Turaif district in the historic area was declared a UNESCO world heritage site in 2010.
Al-Dirriyah Gov. Prince Ahmed bin Abdullah bin Abdulrahman welcomed the Danish royals in the historic area. They toured the neighborhood and were briefed on various development projects.
Foreign Minister Adel Al-Jubeir, meanwhile, received his Danish counterpart at the foreign ministry office and discussed bilateral relations and the current situation in the Gulf and Middle East.
The Danish Crown Prince is scheduled to take part in a number of business activities with focus on strengthening trade for Danish business concerns in several areas such as sustainability, health, food products, education and design, a Danish embassy official said.
Trade relations between the two countries have witnessed remarkable growth in the recent past with further development in trade and investment with the trade exchanges reaching SR2,840 million by the end of 2015. The Danish royals are scheduled to leave for Qatar after their 3-day visit to the Kingdom.
Major projects, investments worth over $685bn unveiled on Saudi National Day
- The private sector’s contribution to the GDP at constant prices doubled to around SR1236.6 million in 2017
JEDDAH: A major economic boost in the form of 10 major projects and investments exceeding SR685 billion ($183 billion) were unveiled as celebrations of the 88th Saudi National Day got under way.
The Council of Saudi Chambers released a report focusing on great economic achievements in 2017.
These projects reflect the Kingdom’s vision under the wise leadership of King Salman and that of Crown Prince Mohammed bin Salman to provide a brighter future through diversifying sources of national income, tackling environmental challenges and increasing investment and prosperity.
The report summarized the most important events and economic developments in the Kingdom over the past year. These include the lifting of the ban on women driving in June, and the establishment of the General Authority for Cyber Security, in addition to the numerous royal decrees providing financial support to Saudis.
It also noted the important decisions related to the Saudi business sector. These include the launch of a private sector incentive program with a value of SR72 billion, the privatization of 10 government sectors and the establishment of the General Authority for Real Estate. The private sector is still showing a strong performance as an efficient partner in the inclusive development process and in the achievement of the Kingdom’s 2030 Vision, the report noted, as it contributes 39 percent to the Saudi gross domestic product (GDP).
The private sector’s contribution to the GDP at constant prices doubled to around SR1236.6 million in 2017. There has been increased contribution to GDP from non-oil private sector streams.
The private sector also witnessed an increase in the number of workers, in its capital, in the number of shares on the Saudi market, in the cumulative number of establishments operating in the Kingdom, and in non-oil exports.
Continued growth of the private sector was attributed by the report to the Saudi government’s support. This support comes through initiatives such as the removal of obstacles to financial development, improvements to the working environment and policies adopted to boost investment.
It also reviewed the private sector’s efforts to support diversification of the economy and lower unemployment rates.
The importance of the measures taken to prioritize the employment of qualified Saudi workers over the employment of expatriates in the private sector were stressed, as well as the sector’s role in providing education and health services.