Come to Saudi Arabia
Ambassador to private sector

Many opportunities especially in transport and health

The ambassador of Saudi Arabia is encouraging the Lebanese private sector to invest and do business in his country.

“The flexible laws and the new investment law for foreigners set by Saudi Arabia represent a golden opportunity for Lebanese investors, in terms of multiple available sectors for investment, the possibility of accessing projects equally to Saudis, and ensuring capital and financial rights,” said Saudi Ambassador, Ali Awad Al-Asiri, during a ceremony honoring him at the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon (CCIA-BML).

Many sectors are open for investment in Saudi Arabia, especially in the sectors of transport and healthcare, according to al-Asiri. “Projects to be implemented include modern transport means, rehabilitation of airports, ports, and railways, in addition to the establishment and rehabilitation of some hospitals, and healthcare cities with related healthcare institutes and pharmaceutical factories among others,” he said.

Al-Asiri said that communication between the Lebanese businessmen and their Saudi counterparts is essential and that it can be achieved through visits and conferences.

More than 550,000 Lebanese are working in the Gulf region, in addition to investments by Lebanese in its different countries, while 85 percent of remittances are from the GCC, of which $4 billion from Saudi Arabia alone, according to the CCIA-BML.

“Most of remittances come from Saudi Arabia, which hosts the largest diaspora in Arab countries,” said Mohammed Choucair, Chairman of the CCIA-BML. “The private sector is keen to ensure the best bilateral relationships between Lebanon and Saudi Arabia,” he said.