Saudi Arabia,Giant private sector companies Saudi Arabia PIF, ARAMCO, and SABIC are ready to expand trade and investment with Thailand. in the field of clean energy tourism services Food and agriculture
Today (21 Oct. 2023) at 10:00 a.m. (local time in Riyadh. which is 4 hours later than Thailand) at the Ritz Carlton Hotel, Riyadh, Saudi Arabia, Mr. Settha Thavisin, Prime Minister and Minister of Finance Met with the Saudi private sector, including: 1. Mr. Yasir bin Othman Al-Rumayyan, Chairman of the Public Investment Fund (Governor of the Public Investment Fund: PIF), 2. Mr. Ami N Hassan Ali Nasser (Amin Hassan Ali Nasser), Chairman and CEO of the state-owned Saudi Arabian Oil Company (Saudi ARAMCO) of Saudi Arabia. 3. Mr. Abdulrahman Al-Fageeh, Executive Chairman and Member of the Board of Directors, Saudi Arabia Basic Industries Corporation (SABIC).
The Prime Minister and the three Saudi private sector companies agreed on the importance of strengthening cooperation between the Thai and Saudi private sectors. Both countries have economic potential. and are willing to expand and promote trade and investment with each other Including being willing to facilitate trade and investment cooperation between each other to increase even more. In areas where both sides have potential and mutual interest, such as services and tourism, clean energy, food and agriculture, petroleum and fertilizer,
SABIC wishes to enhance trade and investment cooperation with Thailand. in petrochemicals The company has expertise
in ARAMCO. We are pleased that PTT Public Company Limited of Thailand and ARAMCO have signed a memorandum of understanding between them. to increase energy cooperation last year and hopes that energy cooperation can be further enhanced in the future
Saudi private sector It is also ready to promote investment cooperation in additional fields, including infrastructure construction. Clean energy cooperation This is in line with the government’s policy of promoting economic growth along with giving importance to the environment. The Saudi private sector hopes that Thailand and Saudi Arabia will Will promote and have more investment cooperation in the future.
The Prime Minister expressed the government’s readiness to drive energy investment. Ready to emphasize Thailand’s economic potential and can be a link in the region for Saudi Arabia, along with inviting the Saudi private sector Visit Thailand to study and discuss About the potential and possibility of promoting cooperation between each other in various fields to be more concrete.
On this occasion, the Prime Minister The Thai Land Bridge project was presented, which PIF saw as a good project with potential. and expressed interest in the project as well
Reporters reported that Public investment funds are among the largest in the world. Under the supervision of the Saudi government To invest in projects that are strategically important to the country’s economy. and carry out missions in accordance with the Saudi Arabia Vision 2030 policy, which has the objective of diversifying investment and make the fund Can invest in foreign companies.
For Saudi ARAMCO, it is an energy and chemicals company owned by the Saudi government. is a major shareholder and is a large source of crude oil reserves and the world’s largest oil producer, with a market value of more than 2 trillion US dollars in 2023. In addition, last year, PTT and Saudi ARAMCO signed a memorandum of understanding between them. To increase cooperation in the entire energy system including cooperation in clean energy and the electric vehicle business.
SABIC is a Saudi chemical manufacturing company. It was founded in 1976 to use crude oil by-products to produce petrochemical products, polymers, fertilizers, etc. Today, SABIC is one of the world’s largest petrochemical companies, with Aramco as a major shareholder. They do business in more than 50 countries around the world. .-Thai News Agency
Source: Thai News Agency