SABIC highlights economic opportunities in Saudi Arabia during King’s visit to Russia

A series of panel discussions were held on the sidelines of the visit of Custodian of the Two Holy Mosques King Salman bin Abdulaziz visit to Russia on October 5, where prominent global and local industry minds shared insights and made recommendations on how best to improve mutual knowledge and understanding between the private sectors of the two countries.

Speaking at a panel discussion on “Enhancing Bilateral Investment” at the Saudi-Russian Business Forum, Yousef Al-Benyan, SABIC Vice Chairman and CEO, who was part of the King’s delegation, highlighted the advantages associated with Saudi Vision 2030, which seeks to reinforce and diversify the capabilities of the country’s economy.

As a key player in facilitating the enablement of downstream diversification, SABIC is fully committed to Vision 2030 and is leveraging its existing resources and creating new programs to realize the ambitious goals set by it, Al-Benyan said.

In comments after the visit program, Al-Benyan, said, “Russia presents key opportunities for global companies such as SABIC. At the same time, a number of economic opportunities are available in Saudi Arabia to foreign investors, particularly in light of the ambitious goals set by Saudi Vision 2030. We clearly value our business relationships in the Russian market and hope to contribute to further boosting bilateral trade between the two countries.”

SABIC also participated in an exhibition held during the royal visit, showcasing its wide range of innovative products to meet the growing needs of the Russian market.

SABIC already has a significant business presence in Russia, with some of its Eastern Europe operations overseen from its sales office in Moscow.

Riyad Al-Faiz
Leader, Global Communications