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Saudi Arabia has many development plans, including the Kingdom's Vision 2030Interview with Ambassador Riyad A. Almubaraky of Saudi Arabia in Seoul
His Majesty King Salman bin Abdulaziz Al-Saud of Saudi Arabia

Ambassador Riyad A. Almubaraky of Saudi Arabia in Seoul said that there are many developmental plans in the Kingdom of Saudi Arabia, including the Kingdom's Vision 2030. Speaking at a recent interview with The Korea Post media on the occasion of the New Year, he said, “All success stories start with a vision, and successful visions are based on strong pillars.” Details of the interview follow:

Question: What are the major New Year development plans of your esteemed country in the New Year in economic and political fields in the 2017?

Ambassador Riyad A. Almubaraky of Saudi Arabia in Seoul

Answer: There are many developmental plans in the Kingdom of Saudi Arabia, including the Kingdom's Vision 2030. All success stories start with a vision, and successful visions are based on strong pillars.

The first pillar of our vision is our status as the heart of the Arab and Islamic worlds. We recognize that Allah the Almighty has bestowed on our lands a gift more precious than oil. Our Kingdom is the Land of the Two Holy Mosques, the most sacred sites on earth, and the direction of the Kaaba (Qibla) to which more than a billion Muslims turn at prayer.

The second pillar of our vision is our determination to become a global investment powerhouse. Our nation holds strong investment capabilities, which we will harness to stimulate our economy and diversify our revenues.

The third pillar is transforming our unique strategic location into a global hub connecting three continents, Asia, Europe and Africa. Our geographic position between key global waterways makes the Kingdom of Saudi Arabia an epicenter of trade and the gateway to the world.

Faisalya Tower in Riyadh

Q: Any promotional plans for further development of relations between Korea and your country, including the possible dispatch of an economic delegation to Korea?

A: Since its inception in 1962, the Saudi-Korean relation is on a continuous progress, which includes every field. There are many aspects of cooperation and coordination of positions and visions on various international issues. Regarding the role Korea as a major economic partner in the Kingdom's Vision 2030, it is no doubt that its participation will facilitate the implementation of the vision successfully due to Korean companies' international reputation in fields that are quite consistent with the targeted economic goals of the Kingdom such as IT technology, health, education, transport and logistics, infrastructure and other activities related to innovative and knowledge economy. A suitable attractive investment climate has been created through taking a number of many appropriate measures and calling for investment in R&D, innovation, and human resources development.

Map of the Kingdom of Saudi Arabia

Q: In what areas are the areas of economy where Korean companies are welcome in your country? Do you have any specific Korean business organizations in mind favorably considered for economic cooperation with your country?

A: There are many economic fields in the Kingdom of Saudi Arabia that welcome the participations of Korean companies in the Saudi markets, including energy industry, renewable energy, petrochemicals, and transportation, construction and tourism sectors. Among the most popular Korean products in the Kingdom of Saudi Arabia are automobile, electronics, and industrial equipment. The performance of the Korean companies in the Kingdom of Saudi Arabia is so active and useful means to develop bilateral economic cooperation. Such Korean companies have played crucial role in 1970s and 1980s in modernizing the Saudi infrastructures.

Yoo, Heui-Jin  edt@koreapost.com

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