SEOUL — Minister of Finance Mohammed Bin Abdullah Al-Jadaan, chairman of the Board of Directors of the National Center for Privatization Projects, participated in round table discussions with a consortium of Korean companies Wednesday, in the presence of the Korean Minister of Land, Infrastructure and Transport Won Hee-ryong.

Al-Jadaan highlighted the strong relationship between Korean investors and the privatization and partnership projects between the public and private sectors in the Kingdom.

He noted that there are many commonalities between the current projects in various sectors in the Kingdom and the privatization and partnership program between the Korean public and private sectors, which provides many investment opportunities that match the capabilities and experiences of companies.

He said that the privatization and partnership programs between the public and private sectors in the Kingdom offer promising opportunities for Korean suppliers and investors.

He affirmed that the Kingdom is pleased with the presence of more Korean companies in order to benefit from their knowledge and resources in the privatization and partnership program between the public and private sectors and to strengthen the close and positive relations between the two friendly countries.

Al-Jadaan, held a meeting on Wednesday, with the Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea, Choo Kyung-ho.

During the meeting, the two parties reviewed the bilateral economic relations between the two countries. They discussed the developments of the global economy, including the ongoing challenges faced by many low-income countries, such as high inflation rates, rising lending costs, and food insecurity.

Topics related to international financial issues were also discussed, as the importance of stepping up the efforts to accelerate the “Common Framework” initiative, launched during the Kingdom’s G20 Presidency in 2020.

Al-Jadaan highlighted the progress made under Vision 2030 to implement economic reforms and wide-ranging partnership projects between the public and private sectors.

He explained the vast opportunities in the Kingdom’s privatization and partnership projects in different sectors, including construction, roads, water, airports, and others.

Al-Jadaan also met with the Chairman and President of the Export-Import Bank of Korea, Hee-Sung Yoon. They discussed the opportunities to enhance cooperation in common fields in a way that contributes to raising the level of investment and trade between the two countries.

Al-Jadaan also provided an overview of the recent economic developments in the Kingdom of Saudi Arabia, highlighting the positive outlook of the Saudi economy and favorable investment opportunities. — SPA