Saudi Arabia-UK Business and Investment Flourishing Under Vision 2030
In an exclusive interview with Arab News in Riyadh, the Lord Mayor of the City of London, Michael Mainelli, highlighted the thriving business and investment connections between Saudi Arabia and the UK under the ambitious Vision 2030 reform plan.
Mainelli emphasized the strong trade ties between the Gulf region and the UK, with Saudi Arabia being the largest chunk of the fourth-largest trading partner, accounting for over £17 billion annually. He expressed optimism for further collaborations in light of the ongoing changes brought about by Vision 2030.
Describing Vision 2030 as a national effort towards achieving a series of goals, Mainelli praised Saudi Arabia for its strong investment in the City of London, particularly in areas like property development, operational businesses, and science and technology. He also highlighted opportunities for collaboration in professional financial services and the recognition of Saudi intellect.
Looking ahead, Mainelli expressed anticipation for increased Saudi investment in science and technology, particularly in areas like hydrogen, desalination, and biotech. He also mentioned upcoming initiatives, such as a two-day conference hosted by the British government in Riyadh and the Net Zero Delivery Summit in June.
Reflecting on the post-Brexit scenario, Mainelli noted the growth of the City of London and highlighted the importance of standards in addressing trade restrictions. He emphasized the value of events like the World Economic Forum in Riyadh as catalysts for business deals and stressed the need for business communities to support peace through trade amidst geopolitical tensions.
In conclusion, Mainelli underscored the importance of standards in promoting global collaboration and urged for a focus on mutual recognition standards for professionals working in different countries.