FICCI Delegates High-level CEOs To Saudi Arabia To Strengthen Bilateral Relations

The Federation of Indian Chambers of Commerce and Industry (FICCI) has embarked on an initiative by releasing a high-level cheif executive officers (CEOs) delegation to Saudi Arabia. Led by FICCI President Dr Anish Shah, the delegation comprises Vice President Anant Goenka, Secretary General SK Pathak, along with 17 CEOs from various sectors.

According to a press release, accompanying them are officials from the Government of India, including the Joint Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Sanjiv, and Deputy Director General Rakesh Kumar.

Spanning over four days from 18th to 21th February, the FICCI CEOs Delegation aims to explore avenues to further enhance the economic bilateral relations between India and Saudi Arabia.

The delegation is scheduled to hold meetings with senior government officials and ministers in Riyadh and NEOM, a futuristic city being developed in the Saudi desert.

NEOM is a "smart city" that will run entirely on renewable energy, have zero automobiles, and emit zero carbon dioxide. It is situated in Saudi Arabia's northwest and will include a floating industrial complex, a hub for global trade, vacation spots, and a linear metropolis, among other areas.

NEOM stands for 'New Future'. The first three letters of NEOM stand for the "new" Ancient Greek prefix neo. The last letter 'M' stands for the word Mostaqbal, which means "future" in Arabic.

Meetings are also planned with representatives from the Federation of Saudi Chambers (FSC) and the Public Investment Fund (PIF).

Among the distinguished personalities the delegation will meet include HRH Prince Abdul Aziz Bin Salman Al Soud, Minister of Energy, and HE Khalid A Al-Falih, Minister of Investment, Saudi Arabia.

Additionally, discussions are scheduled with Deputy Ministers of the Ministry of Economy and Planning, Farah Ismail and Rakam Al Alsheikh.

A key highlight of the delegation's itinerary is its interaction with the Saudi-India Business Forum, which fosters dialogue and collaboration between the business communities of both nations.

Furthermore, the delegation will engage with the NEOM community, focusing on various sectors such as land mobility, health and well-being, tourism, education, research, and innovation.

This marks the first-ever Indian delegation to visit NEOM City, a project initiated by Crown Prince Mohammed Bin Salman.

NEOM spans over 10,000 square miles and is budgeted at USD 1 trillion, positioning it as a pivotal endeavour in Saudi Arabia's vision for the future.

The FICCI CEOs Delegation underscores the commitment of both India and Saudi Arabia towards fostering robust economic ties and exploring new avenues for collaboration.

Through constructive dialogue and engagement, the delegation aims to lay the groundwork for mutually beneficial partnerships and investments, contributing to the growth and prosperity of both nations.