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Sweden Explores Cooperation, Investment Opportunities in Saudi Arabia

The Swedish delegation visited “The Garage” to support startups within the campus of King Abdulaziz City for Science and Technology (Asharq Al-Awsat)
The Swedish delegation visited “The Garage” to support startups within the campus of King Abdulaziz City for Science and Technology (Asharq Al-Awsat)
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Sweden Explores Cooperation, Investment Opportunities in Saudi Arabia

The Swedish delegation visited “The Garage” to support startups within the campus of King Abdulaziz City for Science and Technology (Asharq Al-Awsat)
The Swedish delegation visited “The Garage” to support startups within the campus of King Abdulaziz City for Science and Technology (Asharq Al-Awsat)

A Swedish business team is currently in Saudi Arabia, scouting investment chances and economic partnerships. They’re planning to set up a hub or an investment group in the Kingdom, focusing on new ideas and eco-friendly tech.
According to Petra Menander, the Swedish Ambassador to Saudi Arabia, both countries have a strong relationship, especially in economics. Swedish companies have been active in Saudi Arabia since the 1950s, helping with infrastructure and technology.
Speaking to Asharq Al-Awsat, Menander pointed out that small Swedish firms are eager to expand into Saudi Arabia, looking for long-term collaboration in innovation and business.
She also mentioned successful visits to Saudi business projects, showing mutual interest in innovation and tech exchange.

Regarding trade, Swedish exports to Saudi Arabia have increased by over 50% since 2018, with Saudi exports to Sweden rising sharply in 2023 compared to 2022.
Menander expected trade to keep growing, especially in sectors like mining, energy, healthcare, and technology, including areas like agriculture and electric vehicles.
On his part, CEO of Stockholm Fintech Love Dager said that his organization, based in southern Sweden, is helping startups grow globally through their programs.
Moreover, Dager affirmed that Stockholm Fintech sees big chances to work with Saudi companies.
Dager explained that the organization has a network of over 200 investors and partners, supporting more than 900 people. In four years, it helped 140 startups get over $80 million in funding.
He affirmed Sweden’s FinTech industry is strong, adding that companies want to expand globally early.
Highlighting the ambitions of Saudis, Dager said the Kingdom looks promising.
Aliya Sabir, from the HETCH business incubator, mentioned that the organization is encouraging young people in the region to start businesses, aiming for a sustainable future.
Sabir revealed that HETCH has startups with great ideas ready to grow in Saudi Arabia.

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Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
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Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA

The Saudi Export-Import Bank (Saudi EXIM) hosted the Berne Union's Country Risk Specialist Meeting, providing a platform for experts and thought leaders in risk management from the export credit community.
At the meeting, which took place from November 19 to 21 in Riyadh, the attendees exchanged best practices to better protect the industry amid shifting global dynamics.
According to a statement issued by the Saudi EXIM on Saturday, the event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions.
By strengthening institutional resilience, the industry is ready to turn global economic challenges into opportunities for economic prosperity, said the statement, adding that it played a crucial role in advancing global trade, strengthening international cooperation, and developing credit solutions that empower export activities while controlling risk, SPA reported.
According to the statement, discussions centered on critical risks impacting international trade and the global economy, such as debt sustainability and geopolitical tensions, along with innovative approaches to risk modelling. Participants also explored the global shifts in infrastructure, energy and critical minerals sectors, and were given an overview of Saudi Arabia's National Industrial Strategy, which focuses on economic diversification through investments, developing new sectors, and promoting local industries.
In his opening remarks, Saudi EXIM CEO Eng. Saad bin Abdulaziz Al-Khalb said the meeting is an ideal platform to address risks impacting global economic decision making.
He stated: "Through such meetings, we can turn challenges into strategic opportunities and enhance our resilience in an ever-changing world. At Saudi EXIM, we remain committed to enabling companies by offering expert financial and non-financial solutions to navigate risks effectively."
He also said that "at Saudi EXIM, we place great emphasis on risk management. In alignment with the main objective of this meeting, I am pleased to announce the completion of our independent country risk model, which is supported by advanced modelling tools and machine learning. This model will provide country ratings and predictions of default risks. We look forward to collaborating with our partners in other export credit agencies to exchange knowledge and expertise, and to strengthening our risk management functions with greater responsibility and effectiveness."
Associate Director at Berne Union Eve Hall said: "The global risk landscape today is highly volatile and highly interconnected. As we navigate our way around the ongoing transformations connected to energy transition and shifting industrial strategies, the traditional concept of 'country risk' is becoming increasingly complex. Our industry excels at understanding, quantifying and pricing these risks, and by bringing together this community of experts for technical exchange the Berne Union is able to help support the development of the industry as a whole. The initiatives announced by our colleagues at Saudi EXIM, making use of new technology in risk analysis, provide a fantastic example of where collaboration in this field can be effectively applied."
The statement disclosed that Saudi EXIM's membership in Berne represents a significant strategic step, and is consistent with the Kingdom's commitment to expanding collaboration and integration in the global economy.
This is achieved by building partnerships with leading institutions to address the challenges facing the export credit sector. It also aligns with the bank's goal of developing the export of national products and services through partnerships with national and international financial and funding organizations.
Berne Union works with global trade organizations to encourage the adoption of best practices in export credit insurance, and to cooperate in maintaining the stability of global trade.
Saudi EXIM, a development bank under the National Development Fund, contributes to diversifying the Kingdom's economic base by improving the efficiency of non-oil export ecosystems, bridging financial gaps, and minimizing export risks. This plays a role in helping the non-oil national economy grow, in line with Vision 2030.