Saudi Arabia continues to open communication channels with new regions and countries within its international economic openness framework.
The Saudi-Caribbean Investment Forum concluded in Punta Cana, Dominican Republic, which was held in partnership with the Caribbean Association of Investment Promotion Agencies (CAIPA).
The forum featured the participation of investment leaders from the public and private sectors in the Kingdom and the Caribbean countries to discuss investment opportunities and developments in priority sectors.
The Investment Forum comes in light of many forums organized by the Ministry of Investment to enhance international investor relations and support attracting foreign investment.
It boosts cooperation and witnesses the signing of multiple memoranda of understanding to explore investment opportunities in various sectors.
Saudi Arabia recorded substantial foreign direct investment (FDI) growth in recent years as the Kingdom's economic reforms provided a wide range of opportunities for international investors, and net foreign direct investment growth rose last year by an unprecedented 257.2 percent.
The Undersecretary of the Ministry of Investment, Bader al-Badr, stressed during the forum that the development of the tourism sector will play a significant role in implementing the national investment strategy and achieving the goals of Vision 2030.
Badr added that the forum provides an opportunity to enhance the ability to exchange knowledge and build partnerships, especially in the world's luxury tourist destinations with high value.
"We look forward to continuing to build relations between the Kingdom and the Caribbean in the coming years," he said.
Total inflows of investments amounted to nearly $20 billion for the current year, the highest rate in a decade, even amid the pandemic lockdowns in 2020.
Foreign direct investment to the Kingdom continued to rise against global declines by 35 percent.
For the first time in three decades, Saudi and Thai companies are discussing economic cooperation opportunities and boosting partnerships in research and industrial consultancy.
Thailand's Deputy Minister of Industry, Gala Pong The Visri, stressed the importance of collaboration with Saudi companies in the mining and technology sector during a meeting in Bangkok.
The minister met with a delegation from the Riyadh Chamber led by Board of Directors Karim al-Enzi.
The minister highlighted opportunities for cooperation in research and consultancy in the industrial sector and other fields.
Last month, the Federation of Saudi Chambers of Commerce (FSCC) and the Cyprus Chamber of Commerce and Industry (CCCI) signed a cooperation agreement to establish Saudi-Cypriot Business Council to enhance trade between the Kingdom and Cyprus and increase the commercial and investment cooperation between the two countries.
The council will be concerned with opening qualitative fields for economic cooperation, facilitating interaction between the Saudi and Cypriot business sectors, overcoming challenges and obstacles, exchanging information on available markets and investment opportunities, and empowering commercial and investment partnerships.
In March, the FSCC hosted at its headquarters in Riyadh a Kenyan trade delegation headed by the President of the Kenya National Chamber of Commerce and Industry.
The Saudi-Kenya Economic Forum dealt with aspects of trade and investment cooperation between the two friendly countries and ways to develop them in various fields to serve their common interests.
During the forum, a memorandum of understanding was signed, which aimed at enhancing economic cooperation, exchanging information on available investment opportunities, enabling commercial and investment partnerships, encouraging participation in exhibitions and forums, and exchanging visits and trade delegations.
