Saudi and Singapore leaders discussed investment, infrastructure, technology, tourism and sustainable development opportunities.
The Saudi-Singapore Leadership Forum was held in Singapore as part of the Kingdom of Saudi Arabia’s National Day programme, with Saudi and Singapore business and investment representatives discussing bilateral cooperation and opportunities under Saudi Vision 2030. Speakers examined potential partnerships in investment, logistics, infrastructure, technology, tourism, healthcare, renewable energy and financial services.
H.E. Mohammad Abdullah S. Alghamdi, Ambassador of the Kingdom of Saudi Arabia to Singapore, spoke on “Saudi Vision 2030: A New Phase of Strategic Partnership and Bilateral Cooperation”. He highlighted Saudi Arabia’s approach to maintaining economic relationships with multiple international partners and said Singapore was well positioned to contribute its experience in working with major Asian economies.
“Singapore probably is the best fit in terms of bringing that experience,” Ambassador Alghamdi said. He identified technology and artificial intelligence, renewable energy and water, healthcare and life sciences, infrastructure and logistics, tourism and hospitality, and financial services as areas offering opportunities for Singapore businesses.
Ambassador Alghamdi also outlined investment pathways through the Saudi Ministry of Investment (MISA), including sector-specific opportunities, investment projects and licensing arrangements. He said foreign companies could establish fully owned businesses in Saudi Arabia, while MISA could also assist companies seeking local partners.
Dr Shahzad Nasim, Chairman of the Saudi-Singapore Business Council and Executive Chairman of Meinhardt Group, spoke on “Building the Next Chapter of Saudi-Singapore Business Collaboration”. He said Saudi Arabia’s economic diversification under Vision 2030 had created opportunities in tourism, logistics, technology, manufacturing, entertainment, sports, culture and infrastructure.
He identified smart logistics, urban development and infrastructure, digitalisation and artificial intelligence, and sustainability and the green transition as four areas for further cooperation. He also called for partnerships involving local capability development, joint ventures, technology transfer, training and intellectual property.
Eng. Feroz Siddiqui, Investment Specialist at the Singapore Office of the Saudi Investment Promotion Authority, presented an investment outlook for Singapore businesses. The discussions highlighted Saudi Arabia’s ongoing development of cities, airports, ports, industrial areas and tourism destinations, alongside opportunities for international companies to participate in these projects.
The forum provided a platform for participants to discuss practical avenues for Saudi-Singapore business, investment and institutional cooperation under Vision 2030.
Source: IN Diplomacy Reporter
