Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan held a meeting today, in the Korean capital, “Seoul,” with South Korean Deputy Prime Minister and Minister of Economy and Finance Cho Kyung-ho.
Al-Jadaan said, during his speech at the roundtable discussions with alliances of South Korean companies, in the Korean capital, Seoul, that the pace of the privatization program is accelerating, as the current series of projects includes about 200 projects in 17 sectors, with investments exceeding $50 billion, noting that Another 300 projects are being evaluated.
The meeting discussed the bilateral economic relations between the two countries, and developments in the global economy, including the challenges of high inflation rates, borrowing costs, and food insecurity in many low-income countries.
Issues related to international financial issues were also discussed, and the importance of intensifying efforts to accelerate work in implementing the joint framework initiative, which was launched during the Kingdom’s presidency of the Group of Twenty in 2020, was emphasized, according to the Saudi Press Agency.
Al-Jadaan participated in a meeting organized by the National Center for Privatization with a number of investors and CEOs of Korean companies, in the presence of the Minister of Land, Infrastructure and Transport, Wong-Hee Ryung.
Progress in implementing economic reforms and partnership projects between the public and private sectors within the framework of Vision 2030 was reviewed.
Al-Jadaan indicated the available opportunities in the Kingdom within privatization and partnership projects in many sectors such as construction, roads, water, airports, and others.
The Minister of Finance held a meeting with the Chairman of the Board of Directors of the Korean Export-Import Bank “Hee-Sung Yoon”, and they discussed opportunities to enhance cooperation in common fields, in a way that contributes to raising the level of trade exchange between the two countries.
He also gave an overview of the economic developments in the Kingdom, and highlighted the positive outlook on the Saudi economy and the huge investment opportunities.