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Saudi-Sudanese Investment Forum to Kick off in Khartoum

A view shows vehicles driving on a street in Riyadh, Saudi Arabia February 16, 2021. (Reuters)
A view shows vehicles driving on a street in Riyadh, Saudi Arabia February 16, 2021. (Reuters)
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Saudi-Sudanese Investment Forum to Kick off in Khartoum

A view shows vehicles driving on a street in Riyadh, Saudi Arabia February 16, 2021. (Reuters)
A view shows vehicles driving on a street in Riyadh, Saudi Arabia February 16, 2021. (Reuters)

The Saudi-Sudanese Investment Forum will kick off on Sunday in Khartoum, to discuss investment opportunities in various economic fields.

The forum will witness bilateral discussions and meetings between officials from both countries.

Saudi Minister of Environment, Water and Agriculture, Eng. Abdurrahman bin Abdulmohsen will participate in the forum, which will also be attended by the economic sector ministers from the Sudanese government.

Several Saudi businessmen and their Sudanese counterparts, commercial chambers, and business owners will also be present.

Sudan’s Minister of Finance and Economic Planning, Dr. Jibril Ibrahim told the press on Saturday that the forum is an extension of the meetings that were held in the Kingdom.

The forum aims to hold discussions with Saudi investors and to present the investment opportunities in all sectors including agriculture, minerals, oil, and renewable energy. Investment opportunities also cover activating the public-private partnership and the related laws.

Sudan’s Minister of Investment and International Cooperation Dr. Al-Hadi Mohamed Ibrahim hoped the forum would result in developing a comprehensive plan to optimize resources in Sudan.

The Saudi-Sudanese Investment Forum will continue until Monday.

Sudan’s finance minister had discussed with his Saudi counterpart Mohammed Al-Jadaan financial and economic cooperation while they attended the annual meetings of the Islamic Development Bank Group in Tashkent in Uzbekistan last week.

In July, Ibrahim visited the Kingdom and met with officials to discuss bilateral ties and means to develop them.

He was accompanied by Minister of Energy and Oil Eng. Jadin Ali Obaid Hassan and Minister of Investment Al-Hadi Muhammad Ibrahim.

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Saudi Government Calls for Private Sector Involvement to Enhance Vision 2030 Reports

King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
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Saudi Government Calls for Private Sector Involvement to Enhance Vision 2030 Reports

King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)

The Saudi government has directed greater private sector involvement in shaping the content of Vision 2030 communications and reports, according to sources who spoke to Asharq Al-Awsat. The goal is to amplify the impact of the annual Vision 2030 reports by making them more comprehensive and directly relevant to the business community.

The Strategic Management Office in the Saudi Royal Court has invited private sector stakeholders to review the annual Vision 2030 report to raise awareness of governmental achievements. Businesses are encouraged to provide feedback to ensure that future reports are more impactful and valuable for their audience.

The initiative aims to gather feedback on whether the current report format effectively delivers information relevant to the business sector. It also seeks input on the balance between general achievements and sector-specific details, as well as insights on the report’s accessibility and usefulness to business audiences.

According to the sources, the government is also evaluating the level of transparency in the report, particularly in showcasing progress and achievements. Stakeholders are being asked to suggest areas of focus for future editions to make the reports more comprehensive and relevant to their needs.

Additional proposals include enhancing collaboration between the Vision 2030 communications team and Saudi chambers of commerce to better report on progress and achievements to the private sector. Furthermore, the government is exploring the inclusion of practical success stories from businesses that have played a role in achieving Vision 2030 goals.

Since its inception, Vision 2030 has worked to identify and address challenges facing businesses. Significant reforms have been implemented to remove barriers, ensuring the private sector can fulfill its vital role in driving economic growth.

Efforts have included reforms to streamline the business environment, enhance the quality and efficiency of government services, and digitize processes. Additionally, numerous programs, initiatives, funding platforms, and business incubators and accelerators have been launched to support the private sector.

The Vision 2030 annual report for 2023 highlighted strong program performance, with 87% of the year’s 1,064 initiatives either completed or on track. Among the 243 key performance indicators (KPIs) identified, 81% of third-level KPIs met their targets, while 105 exceeded future targets set for 2024–2025.

The report also noted that non-oil gross domestic product (GDP) reached SAR 1.889 trillion, compared to a baseline of SAR 1.519 trillion. The 2023 target was SAR 1.934 trillion, with the ultimate Vision 2030 target set at SAR 4.97 trillion.

Private sector contributions to GDP increased to 45%, meeting the 2023 target and surpassing the baseline of 40.3%. The long-term Vision 2030 target is 65%.