Aleqtsad.AlRiyadh
تم النشر في الأحد 2025-02-02His Excellency the Saudi Minister of Finance, Mr. Mohammed Aljadaan, chaired the Saudi-German Roundtable Meeting on Sunday, February 2, 2025 in Riyadh, with the aim of strengthening bilateral relations between the two countries and discussing joint cooperation.The meeting was attended by a number of the largest private sector firms from both nations.
During the meeting, Minister Aljadaan stressed that Germany has always been a key economic partner of Saudi Arabia, and that the two countries have worked together to strengthen economic cooperation which has grown over the years.
Minister Aljadaan also discussed Saudi Vision 2030 and its achievements, including the established ecosystem to enable private sector participation in the development story, which benefits all stakeholders. Minister Aljadaan also stressed that the Kingdom introduced structural reforms that leverage foreign direct investment. He noted that the Saudi investment law has been updated and its regulations simplified to enhance competitiveness.
Minister Aljadaan also noted that the Kingdom enjoys a low debt-to-GDP ratio, expects non-oil revenues to continue to grow, all significant signs of success for a strong economy. Non-oil activities accounted for 52% of real GDP in the 3rd Q of 2024, driven by private investment and non-government exports, he said, and the Kingdom has one of the fastest growing capital markets in the world,
Also, Minister Aljadaan explained that human capital expertise in both conventional and renewable energy, and the industrial and manufacturing strength of Germany are part of the ongoing Saudi-German relationship that contributes to achieving the goals of Saudi Vision 2030, as the Kingdom imports many German goods and motor vehicles.
The meeting participants discussed the most prominent economic developments in the Kingdom of Saudi Arabia and the Federal Republic of Germany, and talked about opportunities for cooperation between the private sectors in the fields of renewable energy, petrochemicals, mining, healthcare, digital transformation, artificial intelligence, infrastructure, transport and logistics, financial services, and especially tourism. The Ministry of Investment, the National Center for Privatization, and the Financial Sector Development Program also reviewed the most prominent achievements and investment opportunities available.
In addition, His Excellency the Saudi Vice Minister of Finance, Mr. Abdulmuhsen Alkhalaf, gave a speech during the meeting, during which he stressed the importance of cooperation in building strong economic and financial relations between the Kingdom of Saudi Arabia and the Federal Republic of Germany. He pointed out that this meeting reflects the common commitment aimed at strengthening the partnership between the private sectors, investment partnerships, and exploring new ways of cooperation that not only benefit the economies of the two countries, but also help the whole world.
