The Council of Saudi Chambers (CSC) organized a workshop to improve foreign business councils, attended by CSC officials, representatives from the Ministry of Commerce and Investment, and selected businesspeople and economic experts.
CSC Chairperson, Eng. Ahmed Al Rajhi, noted the significant role of CSC’s business councils in fostering Saudi-foreign trade and investment relations and transferring advanced technology into Saudi Arabia’s various economic sectors, adding that the workshop aims at identifying and addressing challenges facing business councils in order to increase their efficiency to be in line with the Saudi Vision 2030, whose goals include increasing FDI’s contribution to GDP from 3.8% to 5.7%.
Al Rajhi touched on the opportunities that come along with the Saudi Vision 2030 which will help expand Saudi-Foreign trade and investment partnerships, adding that this requires improving the business councils to be able to keep up with these opportunities. He stated that the business councils’ new sessions will focus on efficiency and performance standards in leading businesses, and fostering the Kingdom’s economic relations worldwide.
The CSC Chairperson revealed that CSC formed a team of experts to handle improving the business councils. The team includes: Dr. Mohammed bin Laden, Dr. Sultan Al Thaaly, Dr. Abdullah Al Moajil, Abdulaziz Al Keraides, and Mazen Rajab, who were responsible for developing the mechanisms, endeavors and topics of the workshop.
The workshop shed light on the role of CSC’s General Secretariat for International Affairs and its strategic goals in fostering the Kingdom’s trade and investment relations with its international partners, alongside its role in casting light on the Kingdom’s position as a global trade and investment hub. The workshop additionally tackled the current status of the business councils and the obstacles hindering them from achieving their desired goals.
Around 40 businesspeople and economic experts participated in the workshop’s think-tanks and brainstorming sessions, which focused on four main topics: creating and forming business councils, developing financial resources, improving internal work structure, and effective government support and participation.
The workshop concluded with a number of recommendations that will be reviewed by the consultancy group to be approved.