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Saudi Arabia Minister of Investment Khalid Al Falih on Monday said every sector in Saudi Arabia and India is attractive for investment.
I think every sector in Saudi Arabia and India is attractive for investment. ..........Saudi Arabia has the most ambitious integrated vision in the world and beyond our great market which is today underserved......we have a plan and the intent for Saudi Arabia to be the platform to serve the Middle East, Africa, western Asia... he said. Speaking on the India-Middle East-Europe Economic Corridor, he said the economic corridor linking India through the Middle East and primarily Saudi and UAE as also Oman and other nations all the way to Europe is going to be equivalent to the Silk Route and spice road combined for this millennium. He further said that from the Saudi side, there is great appetite to not only invest in oil and gas in India in petrochemicals but also in green energy, new energy and technology and telecommunications and manufacturing and defence, food culture movies. Meanwhile, India and Saudi Arabia have recognized that the India-Middle East-Europe Economic Corridor is one of the biggest plurilateral agreements connecting several countries. Secretary of Consular, Passport and Visa Division (CPV) and OverseasIndian Affairs (OIA)Ausaf Sayeedon Monday saidIndia,Saudi Arabia"recognised this as one of the major outcomes of the G20. It is one of the biggest such plurilateral agreements connecting several countries... He said that the corridor is actually connecting our like-minded partner countries in different geographic zones which is extremely important...It is something which we are all looking forward to. It would need close coordination and work with all the partner countries in that." The CPV & OIA Secretary made the remarks during a special briefing on the State Visit of the Crown Prince and Prime Minister ofSaudi ArabiaPrince Mohammed bin Salman bin Abdulaziz Al Saud toIndia. India, USA, UAE,Saudi Arabia, France, Germany, Italy and the European Union have signed a Memorandum of Understanding (MoU) to establish theIndia-Middle East-Europe Economic Corridor The corridor will encourage and provide impetus to economic development through enhanced connectivity and economic integration between Asia, West Asia, the Middle East and Europe, as per sources. TheIndia-Middle East-Europe Economic Corridor will consist of two separate corridors, the East corridor connectingIndiato West Asia/Middle East and the Northern corridor connecting West Asia/Middle East to Europe. It will include a rail line, which upon completion, will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement the existing multi-modal transport routes enhancing transhipment of goods and services between South East Asia throughIndiato West Asia/Middle East Europe. Connectivity with countries of the region remains a key priority forIndiaand is deeply rooted inIndian civilizational history.Indiahas always stood to invest, cooperate and build connectivity as part of "One Earth, One Family, One Future". Currently, Saudi Crown PrinceMohammed bin Salman bin Abdulaziz Al Saud is in Delhi on a three-day visit. Saudi Arabia Crown Prince Mohammed bin Salman Al Saud and Prime Minister Narendra Modi on Monday held a bilateral meeting in New Delhi. External Affairs Minister S Jaishankar, National Security Advisor Ajit Doval and others were present in the meeting. (ANI)
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