Saudi-Caribbean Forum deemed a sucess
Attendees of the first-ever Saudi-Caribbean Investment Forum said that the 3-day conference under the theme “Towards a New Era of Partnership for Socio-Economic Development” provided many regional and international opportunities.
The forum held in Punta Cana, Dominican Republic brought together investment leaders from the public and private sectors from the Kingdom of Saudi Arabia and the countries of the Caribbean to discuss investment opportunities and developments in priority investment sectors.
Saudi Arabia’s Undersecretary of the Ministry of Investment, Bader Al-Badr, noted that the development of the tourism sector will play a key role in implementing the national investment strategy and achieving the goals of Vision 2030.
“The forum provides an opportunity for us to enhance the ability to exchange knowledge and build partnerships with some of the world’s leading luxury tourism destinations, and we look forward to continuing to build relations between the Kingdom and the Caribbean in the coming years.”
Over fifty (50) Saudi Arabian firms from a wide cross-section of sectors including banking and finance, construction, energy, healthcare, food and beverages, hospitality, petrochemicals, pharmaceutical, mining and industry, wealth management, and maritime participated in the forum. Also participating were several government entities of KSA.
Meanwhile, fourteen (14) Caribbean nations namely: Antigua and Barbuda, the Dominican Republic, The Bahamas, Belize, Bermuda, Curacao, the Dominican Republic, Guyana, Jamaica, Saint Lucia, St. Vincent and the Grenadines, Suriname, Trinidad & Tobago, and El Salvador sent their delegates to present their respective country’s investment-ready projects.
Multiple memoranda of understanding were signed during the forum to strengthen cooperation and explore investment opportunities in various sectors.
Commenting on the outcomes of the forum, Barbados’ Senior Minister William Duguid noted that he was pleased with the calibre of investors attending the forum.
“I am very pleased with the various interest in investing in the Caribbean generally and in Barbados in particular. Barbados’ participation presented a clear signal to global investors of our government’s pro-business approach to welcoming businesses of substance and attracting sustainable foreign direct investment from new markets.”
The Saudi-Caribbean Investment Forum was held in partnership with the Caribbean Association of Investment Promotion Agencies (CAIPA), the Ministry of Investment from the Kingdom of Saudi Arabia and the investment promotion agency of the Dominican Republic, ProDominicana.