His Excellency the Minister of Commerce and Chairman of the National Competitiveness Center, Dr. Majid bin Abdullah Al-Qasabi, confirmed that the Kingdom’s Vision 2030, launched by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister — may Allah preserve him — has created an unprecedented transformation in the Saudi economy. The Kingdom has implemented more than (900) legislative and regulatory reforms to build a competitive economy, in addition to launching the most ambitious projects in the world, which contributed to the Gross Domestic Product exceeding (1.3) trillion US dollars, making the Saudi economy the largest in the Middle East and the (17th) globally.
He explained during his participation in the “Saudi–Norwegian Business Forum” — organized by the National Competitiveness Center within the framework of a working visit conducted by a Saudi trade delegation consisting of (30) leaders and officials from the public and private sectors headed by His Excellency — that there are many areas of similarity, foremost among them the presence of natural resources and strong communities striving to build a prosperous economy.
Al-Qasabi added — before more than (130) leaders from the public and private sectors in both countries who participated in the forum’s activities — that Norwegian companies are operating in the Kingdom, and there is a desire from both sides to enhance joint cooperation in the fields of logistics, shipping, fisheries, advanced manufacturing, tourism, digitization, health, education, and creative industries. He pointed out that trade exchange between the two countries grew by (360%) during the period from 2020 to 2024 to reach (828) million US dollars.
For her part, Her Excellency Cecilie Myrseth, Minister of Trade and Industry of Norway, explained that the forum provided Norwegian companies with the opportunity to meet with the Saudi business sector and discuss opportunities, with growing interest from Norwegian companies to expand their businesses in the Kingdom of Saudi Arabia.
Prior to the start of the forum’s activities, the National Competitiveness Center, in cooperation with the Embassy of the Kingdom in Oslo, organized a reception on the occasion of the Saudi National Day, with the participation of the Ambassador of the Custodian of the Two Holy Mosques to the Kingdom of Norway, Khalid bin Mohammed Al-Sharif, and a number of ambassadors and members of the diplomatic corps accredited to Norway.
During the forum, Her Excellency the Deputy Minister of Commerce and CEO of the National Competitiveness Center, Dr. Iman bint Habas Al-Mutairi, reviewed the most prominent reforms implemented to strengthen the Kingdom’s competitiveness and the promising opportunities in vital sectors, noting that (1,200) regulations and bylaws were issued and updated, contributing to making the business environment one of the leading global destinations for attracting companies and business owners.
Sven Tore Holsether, President of the Confederation of Norwegian Enterprise, indicated that the Kingdom of Saudi Arabia has embarked on a remarkable transformation journey through Vision 2030, which has driven many Norwegian companies to cooperate with Saudi companies, adding that more than (100) Norwegian companies visited the Kingdom during the past year.
The forum’s activities included holding (3) workshops: the first (Exploring the Future of Marine Technologies), which addressed innovation in navigation, the latest solutions in maritime mobility and port management, and the role of Artificial Intelligence and the Internet of Things in improving logistics services. The second workshop (Aquaculture and Fish Farming) discussed innovation in aquaculture and fish farms, smart aquaculture industry solutions, digital monitoring, automated feeding, and the use of environmental data. The final workshop, titled (Circular Economy and Industrial Decarbonization), addressed strengthening circular economy solutions for industry and sustainability, redesigning entire systems to eliminate waste, and reducing emissions.
It is noteworthy that the Saudi delegation participating in the forum included leaders from the Ministries of: Commerce, Energy, Investment, Industry and Mineral Resources, Environment, Water and Agriculture, and Transport and Logistics Services; as well as the Saudi Ports Authority, the Saudi Food and Drug Authority, the Public Investment Fund, the National Competitiveness Center, representatives from the Federation of Saudi Chambers, and a number of national companies.