On the special occasion of the 91st anniversary of the unification of the kingdom of Saudi Arabia, the "Seoul City" magazine had an interview with incoming ambassador of Saudi Arabia H.E. Sami M. Alsadhan to Korea. Following are full texts of the interview.
Q. Please introduce the significance of your National Day, Unification of the Kingdom, September 23rd for our readers?
The 23rd day of September 1932 was a glorious day in our history when the biggest portion of the Arabian Peninsula had unified under the Kingdom of Saudi Arabia. Therefore, on the occasion of the 91st Anniversary of the National Day of the Kingdom of Saudi Arabia, we are so proud to celebrate and remember that with pride, appreciation, dignity, the effort and sacrifices made by our ancestors.
Q. Please explain investment environments of Saudi Arabia for Korea potential investors and any special favors to foreign investors?
Saudi Arabia hassubstantial potential and opportunities for investors. It is a G20 economy with a young, highly educated population of more than 35 million peoplewith a strategic location at the heart of major trade routes crossing three continents and bountiful natural resources. As a part of the Vision 2030, a wide range of economic reforms have succeeded in creating new business opportunities, leveraging Saudi Arabia’s key strategic assets, and driving economic growth and diversification.
Regarding special favors to foreign investors, Saudi Arabia has adopted investment aid programs provided by the government, which includes the government subsidiesallow5-year tax exemptions, utility services at low prices provided by the government when industrial plans are involved.Moreover, the Ministry of Investment encourages partnerships with local companies granting more aids and advantages to foreign companies whose investment capital is shared with the Saudis.
Q. What do you think would be the most attractive industrial sectors for Korean companies to invest in Saudi Arabia?
We are currently witnessing the implementation of an economic transformation to diversify revenues and sustain the development. As a result, we have expanded the industrial sectors and launched new areas for foreign investment. We already recognize the fact that Korean companies have involved in major industries such as chemicals, construction, and water destination. In addition to those industries, we could advise them to invest in information and technology industry based on Saudi Vision 2030 goals to transform Saudi Arabia into a globally competitive ICT hub with modern technologies and an empowered information society.
Q. Please introduce some outstanding Korea companies activities in Saudi Arabia and vice versa?
Without any doubt, the Republic of Korea represented by its industrial strength, is a strategic economic partner for us and we are always willing to enhance the mutual investment to achieve the interest of both countries
Q. Please introduce tourist attractions of Saudi Arabia for Korean tourists abroad?
Information and pictures of tourism attractionsof SaudiArabia will be provided in a separated file.
Q. Let us know your point of view on how to strengthen further the close economic and cultural ties between Korea and Saudi Arabia?
We are always looking for new areas in order to enhance bilateral economic and culturalrelations. Particularly, I am focusing on someeconomic and cultural fields such asincreasing economic mutual investment, encouraging the Korean companies to invest in promising sectors, and working on strengthen cooperation in the field of renewable energy.