RIYADH — The Ministry of Investment organized Monday the Saudi-Thai Investment Forum, with the participation of the Minister of Investment Eng. Khalid Bin Abdulaziz Al-Falih, the Thai Deputy Prime Minister and Foreign Minister Don Pramudwinai, Minister of Foreign Affairs Prince Faisal Bin Farhan Bin Abdullah and Minister of Industry Bandar Al-Khorayef.

A wide range of representatives of government agencies, the Federation of Saudi Chambers, and representatives of the private sector and companies from the two countries also attended the forum.

Al-Falih said the forum comes as an extension of relations after the meeting of Crown Prince Mohammed Bin Salman, deputy prime minister, and minister of defense, with the Thai Prime Minister Gen. Prayut Chan-ocha, earlier this year.

He added that the Saudi-Thai Investment Forum aims to advance economic relations between the two sides to broader horizons, as the two countries enjoy vast investment and trade opportunities, and great human and natural resources.

He called on investors and leading Thai companies to visit the Kingdom and get acquainted with investment opportunities in all sectors, as the Kingdom has a competitive and attractive investment environment that provides opportunities with rewarding returns for investors.

He highlighted that Saudi Arabia, in light of the Kingdom's Vision 2030, has developed the business environment by implementing a large package of reforms that exceeded 500 reforms, including the enactment of regulations and legislation per international best practices.

The work of the forum witnessed the signing of seven memoranda of understanding between the two sides, including four MoUs between the Ministry of Investment and the Thai side, in addition to a MoU by the Diriyah Gate Development Authority and another MoU by the Federation of Saudi Chambers.

A MoU was signed by a private sector company with the Thai side to enhance trade and investment between the Kingdom and Thailand, through cooperation and investment in petrochemicals, oil and gas, tourism, and hospitality, which reflects efforts to strengthen partnership and cooperation between the two countries.

The forum also included brainstorming sessions that discussed several topics aimed at enabling the private sector to access investment opportunities, linking quality investment opportunities with Saudi and Thai companies.

This is in addition to strengthening and developing cooperation in all fields and projects. The event also included bilateral meetings between representatives from the two sides’ private sectors to be more acquainted with the developments in the investment environment in the Kingdom and Thailand.

The forum is part of the two sides’ efforts to develop relations between them and explores the prospects for investment and trade opportunities in all fields, as it witnessed remarkable participation of the Saudi and Thai investors and pioneering companies. — SPA