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Saudi Arabia Is Now Experiencing Qualitative Renaissance despite Challenges from Home and Abroad
Saudi Arabia Selects Korea as Strategic Partner for Kingdom Vision 2030
Saudi Arabia Is Now Experiencing Qualitative Renaissance despite Challenges from Home and Abroad
  • By Riyad A. Almubaraky
  • October 5, 2018, 12:12
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His Majesty King Salman bin Abdulaziz Al-Saud
Prince Mohammed bin Salman bin Abdulaziz
& defense minister of Saudi Arabia
Riyad A. Almubaraky,
Ambassador of the Kingdom
of Saudi Arabia
to the Republic of Korea

National Day Message from Saudi Arabian Ambassador

By Riyad A. Almubaraky, Ambassador of the Kingdom of Saudi Arabia to the Republic of Korea

The twenty-third day of September 1932 was a glorious day in our history where the founding King Abdul Aziz bin Abdul Rahman Al Saud had unified the Kingdom of Saudi Arabia. With such precious national occasion every year, we celebrate and remember with pride, appreciation and dignity, the efforts and sacrifices made by the founding King and his sons, the Kings who came after him, and who followed his approach in building, developing and serving the Kingdom and its people.

This year we celebrate the 88th Anniversary, while the Kingdom continues the process of development and modernization in all fields, under the leadership of the Custodian of the Two Holy Mosques King Salman bin Abdul Aziz, and the trustworthy Crown Prince, Deputy Prime Minister and Minister of Defense His Royal Highness Prince Mohammed bin Salman bin Abdul Aziz. The Kingdom is experiencing a qualitative renaissance despite regional and international developments and challenges.

In recognition of the leadership's keenness to invest all national resources to serve the country and its citizens, the Kingdom's "Vision 2030" was announced, with its national contents, development and future plans, to diversify sources of income, increase efficiency of government performance, and to modernize regulations and administrative structure. Marking the beginning of a new phase of development and the hard work for better future, “Vision 2030” aims to keep up with developed countries, to achieve a comprehensive development, to employ the Kingdom's potentials and its energy, by taking advantage of the Kingdom's strategic location, while adhering to the genuine faith of Islam and preserving the genuineness of our society and its principles.

The Kingdom plays a key role in maintaining security and stability in the region, and it enjoys a regional, Arab, Islamic and international status, while playing an active and influential role in international decision-making, and its continuous pursuit for international peace and security.

Moreover, the Kingdom is one of the largest countries supporting the humanitarian and relief work in the world, aware of the importance of alleviating human suffering and ensuring a decent life for those who are vulnerable and needy. The foreign aid provided by the Kingdom during the last two decades amounted to more than 84.7 billion US dollars.

The Prophet's Mosque in Madinah.

Taking this opportunity, I would like to praise the strategic, friendship, and cooperative relations between the Kingdom of Saudi Arabia and the Republic of Korea, which dates back to 1962. Through a long history, the two countries have witnessed a qualitative leap and great development in many fields, including politics, military, economy, education, culture, and health.

These achievements were consistent with the policies and principles set out in the agreements and memoranda of understanding signed between the two friendly countries.

The Saudi-Korean bilateral relations are a model of relations among nations, where they have often coincided with common positions on various international events, bilateral coordination, mutual understanding and mutual support in international bodies and organizations.

The trade data confirm that the volume of trade exchange between the two friendly countries amounted to 26 billion US dollars last year and amounted to 17 billion dollars until July of this year (2018). Korea is the Kingdom's fifth-largest trading partner, while the Kingdom is Korea's largest supplier of crude oil and the largest market in the Middle East for Korean products. Korean companies acquire the highest market share and more Korean companies invest in the Kingdom.

The industrial sector has recently witnessed significant activities and achieved notable progress in 16 projects for joint cooperation out of 40 joint projects that were identified by the two countries, as part of their huge economic cooperation after selecting the Republic of Korea as a strategic partner within the framework of the Kingdom Vision 2030.

Both leaders of the two friendly countries have common interest and desire to strengthening relations and developing cooperation to achieve, promote and serve the common interests of the two friendly countries and their peoples and contribute to regional security, stability and world peace.

I sincerely wish the two countries and the two friendly peoples continued prosperity, security and stability.

Riyadh, the Capital City of the Kingdom of Saudi Arabia.

Meet the Kingdom

Saudi Arabia is one of the most populous and richest nations in the Middle East, the heart of the Islamic and Arab world. Located at the convergence of Europe, Asia and Africa, the Kingdom is a natural bridge connecting people and goods around the world, representing a crucial logistic hub for both global trade routes and for business expansions.

The Saudi economy has experienced an annual average growth rate of 4% over the past 7 years, supported by a pro-business environment that quickly moves the investors to the heart of the Arabic market. The Kingdom is fully committed to develop the Kingdom's investment environment: tremendous efforts in advancing the business ecosystem have been already made, and new measures aimed at making it easier to do business are already planned.

Saudi Arabia has launched the Vision 2030 aimed at enhancing its business environment and economic performance, by establishing clear priorities, solid alignment amongst all relevant stakeholders, and serious commitments in leveraging private investments.

The implementation of the Kingdom’s project is detailed by 12 Vision Realization Programs, acting as unique roadmap for the whole country.

The new strategy and developments, as well as the positive fundamentals of the Saudi economy, set an unprecedented opportunity for the investors, willing to grow their assets and to succeed worldwide Saudi Arabia’s multiple growing sectors such as entertainment, information technology, and financial services will open new challenges, promising high returns for all investors.

What is NEOM?

NEOM is the brainchild of the country’s Crown Prince, HRH Muhammad bin Salman, to build a futuristic city-cum-economic-zone called NEOM (from the Greek neo, meaning new, and the Arabic mostaqbal, meaning future).

NEOM is envisaged as a hub between Europe, Asia and Africa, and a home drawing in people with the skills to create world-class businesses in industries from biotechnology to food. Spread over 26,500 square kilometers (10,200 square miles) and along 468km of coast.