Indonesia and Egypt attract Saudi investors

27/12/2016 06:02 AST

Governor Sunjaya Purwadi Sastra of Cirebon, a port city in northern West Java, Indonesia said bilateral trade between Indonesia and Saudi Arabia is expected to increase to SR17 billion by 2020 under the new Saudi plans to diversify the economy.

An Indonesian delegation visited the Jeddah Chamber of Commerce and Industry lately, during which the governor noted that his country has massive agricultural land that Saudi investors might use for investment. His country, he said, is ready to provide different products to Saudi Arabia to guarantee food security. He added that Saudi Arabia is on top of the list of Indonesian commercial transactions in the Middle East.

Sastra highlighted the role that the private sector in the two countries, citing the need for collaboration between investors in different sectors. Currently, Saudis invest SR5.9 billion in tourism, agriculture, livestock and hotels, he noted.

Hasan ibn Shakir, a JCCI board member, highlighted the increase in bilateral trade and noted that they are keen to collaborate with their counterpart in Indonesian chambers of commerce and are welcoming delegates from Indonesia. The meetings that are scheduled between investors introduce new opportunities and enhance possibilities to create joint projects.

In a separate development, Amro Hazza, commercial consul of Egypt, called on Saudi investors to make partnerships with the Egyptian contracting companies that have experience in different infrastructure projects. This, he noted, is in line with the construction development in the Kingdom that fits both the National Transformation Plan 2020 and the Saudi Vision 2030. Hazza called for Saudi delegation to visit Egyptian factories and also to schedule different visits between the two countries.

Hassan Dahlan, the acting secretary general of the JCCI, highlighted the brotherly relations between Saudi Arabia and Egypt. He said the trade exchange between the two countries is witnessing growth and noted that the Saudi market is open to collaboration with various countries.

Saudi Gazette