South African Delegation Explore Saudi Vision 2030 Opportunities

The Council of Saudi Chambers (CSC) hosted a meeting between a South African business delegation and Saudi businesspeople to discuss economic cooperation between the two countries in light of the Saudi Vision 2030.

The meeting, which was attended by the former Chairperson of the Saudi-South African Business Council, Sulaiman Al Othaim, and the South African Ambassador to Saudi Arabia, touched on cooperation in infrastructure, real estate development, agriculture, renewable energy, desalination and smart cities, among other areas.

Al Othaim noted the robust relations between Saudi Arabia and South Africa, stressing the significance of fostering partnership between the two countries business communities, and exploring opportunities in their respective markets, particularly in the mining sector. He described South Africa as an important market to Saudi investors, and encouraged South African investors to explore the promising opportunities in Saudi Arabia.

For his part, the South African Ambassador conveyed his country’s keenness on fostering economic relations with the Kingdom, noting that several South African enterprises are interested in entering the Saudi market considering its vast investment opportunities post-Saudi Vision 2030, adding that South Africa possesses a large economy with an enormous metal wealth of gold and diamonds, in addition to its energy, agriculture, tourism, and industrial sectors. He touched on the incentivizing investment climate in South Africa and its laws, which foster the growth of joint investments, inviting Saudi businesspeople to visit the country and explore these opportunities firsthand.

The meeting included a number of presentations by the South African delegation on the current economic status in the country and the opportunities it offers in main sectors such as mining, tourism, and agriculture. In addition to the natural resources in South Africa, which are of steady interest to international enterprises, especially in regards to oil and gas.