Berlin, A high-level Saudi delegation’s three-day visit to Germany culminated today in seven memoranda of understanding to enhance cooperation in chemicals, waste management, renewable energies, engineering, advanced industries, automotives and technology.
The delegation, led by Khalid Al-Falih, Minister of Investment, participated in events and bilateral engagements across Munich, Berlin, Hamburg and Hannover. The German delegation, led by German State Secretary Udo Philipp, included government entities such as Bavarian State Chancellery, the Federation of German Industries and Germany Trade and Invest in addition to leading German companies, including BMW and Siemens.
In Berlin, the delegation participated in the German-Saudi Investment Forum which resulted in the signing of seven memoranda of understanding: two memoranda of understanding between Almobda Company for Industrial Services and Chemicals and thyssenkrupp Uhde Engineering Services in the chemicals sector; an MOU between the Ministry of Investment of Saudi Arabia (MISA), Saudi Chemical Holding Company and Hellman in chemicals as well; an MOU between the Ministry of Investment and HTCycle in waste management; an MOU between MISA and Wilo Group to drive innovative solutions in the water sector; an MOU between Al Alrabiah Consulting Engineers and Teuffel Engineering Consultants in engineering; and an MOU between Advanced Systems and Technologies and ecoro in technology.
The Forum featured panel sessions to explore private sector partnership opportunities. From the Saudi side, attendees saw presentations by Saudi officials about the Invest Saudi and Global Supply Chain Resilience Initiatives, and the National Center for Privatization and public private partnerships.
Samar Nassar, Managing Director of Healthcare at MISA, joined a panel session titled “How to Scale Innovation in Healthcare” where participants explored opportunities for collaboration between Saudi and German healthcare innovators, including through R&D and digital healthcare partnerships.
The Minister of Investment also attended ITB Berlin, one of the world’s largest tourism trade shows, where he met with hospitality investors to explore investment potential in leisure tourism.
The Saudi delegation’s Germany tour follows German Chancellor Olaf Scholz’s trip to the Kingdom in September, followed by the visit of a German delegation to Riyadh in November to explore opportunities for greater cooperation. Relations between both nations, each with the largest economies of their respective regions, continue to strengthen with an increasing presence of German companies in Saudi Arabia including medical devices manufacturer Karl Storz and multinational technology company Wilo.
The Minister of Investment’s visit to Germany was the latest in a series of high-level international visits conducted to enhance mutual investment. This week, the delegation will visit France, Austria and Cyprus to participate in a series of bilateral engagements.
Source: Saudi Press Agency