Al-Faleh discusses with Korean trade, industry and energy minister investment opportunities available in the Kingdom

Government Agencies News Economics News
Published 13 Mar 2018
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Al-Faleh discusses with Korean trade, industry and energy minister investment opportunities available in the Kingdom

Riyadh,  SPA
Eng. Khalid bin Abdulaziz Al-Faleh, minister of energy, industry and mineral resources, held here today a round of talks with visiting minister of trade, industry and energy of the Republic of Korea Baek Un Gyu on ways of enhancing opportunities of enhancing economic relations between the two countries and ways of enhancing them in the energy, industry and mining sectors.
The meeting was attended by Dr. Faisal Al-Sugair, chairman of the Saudi center for strategic partnershipsو and senior officials.
The two ministers lauded the positive results so far reached by the Saudi Korean vision 2030 joint committee.
In a statement to SPA following the meeting, Eng. Al-Faleh confirmed the interest of the government of the Custodian of the Two Holy Mosques in the Korean economic example, noting that the successes achieved by Korea have made it inspiring to others. This is why we are keen to benefit from this experience according to Saudi vision 2030.
He said Korea today is member of the G20, among the world's largest vehicles manufacturers as it exports more than 60% of its industry, ranks third of the world in vessels industry and maritime transport, and fourth in the electronics and pharmaceutical industries. Such industries stimulate us to work with South Korea and seek enhancing investment opportunities between the two countries in what would contribute to the transfer of Korean knowledge and recruiting Korean technologies to the Kingdom.
Al-Faleh called on Korean companies to benefit from the investment opportunities provided by the Kingdom in what would contribute to increasing the domestic content, citing the mining sector and benefiting from the advanced infrastructure of the Kingdom, its economic cities and geographical site.
The two sides discussed a proposal to put an executive plan and sign a memorandum of understanding between the two countries, covering all aspects of cooperation between the two sides, particularly in the fields of energy, industry and mineral resources and forming a joint team to follow-up the developments of those projects and making sure they are progressing in the required direction.

Last Modified Date: 13/03/2018 - 7:18 AM Saudi Arabia Time


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