Saudi-Tunisian Business Forum: Investment Opportunities and Promising Partnerships

In a move aimed at propelling economic cooperation to broader horizons, His Excellency the Saudi Minister of Industry and Mineral Resources, Mr. Bandar Al-Khorayef, affirmed that the Saudi-Tunisian Business Forum represents a fundamental pillar for strengthening sustainable investment partnerships between the two brotherly countries. Al-Khorayef pointed out that this event is not merely a platform for discussion, but rather a practical step towards transforming promising opportunities into tangible projects that benefit the economies of both nations.

This came during the forum held today on the sidelines of the 12th session of the Saudi-Tunisian Joint Committee, in the presence of the Tunisian Minister of Economy and Planning, Dr. Samir Abdelhafid. Al-Khorayef explained in his speech: “Today, we are placing great emphasis on investors and private sector leaders to drive growth in vital sectors, including advanced industries, tourism, renewable energy, and mineral resources.” He added that the role of governments lies in enabling and legislating, while the private sector bears the responsibility of innovation and implementation.

Historical context and shared vision

This economic activity comes at a time of remarkable development in Saudi-Tunisian relations, driven by a shared desire to achieve economic integration in line with the objectives of Saudi Arabia's Vision 2030, which seeks to diversify income sources and expand foreign investments, and with the Tunisian government's plans to attract foreign direct investment to stimulate economic growth. The joint committee between the two countries is one of the oldest mechanisms for Arab cooperation, having contributed over the decades to the signing of numerous agreements that have boosted trade volume.

Investment growth and competitive advantages

For his part, the Tunisian Minister of Economy and Planning revealed promising figures reflecting the confidence of Saudi investors in the Tunisian market, noting that the Kingdom ranks among the top ten investing countries in Tunisia, with investments exceeding $375 million by the end of 2024. Dr. Abdelhafid pointed out that Tunisia possesses high competitive advantages, most notably its geographical location close to European markets and the abundance of skilled human resources specializing in engineering and technology, making it a fertile environment for precision industries such as aircraft and automotive components and pharmaceuticals.

The role of the private sector in economic integration

In a related context, Dr. Omar Al-Ajaji, Chairman of the Saudi-Tunisian Business Council, and Dr. Samir Majoul, President of the Tunisian Union of Industry, Trade and Handicrafts, emphasized the importance of removing obstacles facing the private sector. They affirmed that integration in supply chains and technology sectors represents a golden opportunity for both business communities. It is worth noting that the forum witnessed broad participation, exceeding 300 representatives from the public and private sectors, reflecting the significant momentum and mutual interest in developing bilateral economic relations.