The stage is being set for a chain of business interactions between the United Kingdom and Saudi Arabia, embodied in the event “PROSPEROUS HORIZONS”.
This platform for cross-border professional discourse is designed with objectives of facilitating trade and exhibiting UK’s commercial, academic and cultural edge to an open audience primarily comprising top-ranking Saudi Arabian government and corporate figures.
The event, powered by a joint initiative from the governments of both countries, is positioned as a significant commercial, touristic, and cultural exposition slated for the 14th and 15th May 2024 in Riyadh, Saudi Arabia.
These two eventful days will hold in Riyadh’s financial nerve centre – the King Abdullah Financial District (KAFD), with an audience of approximately 750 delegates. Leading the over 300 British delegates will be the Deputy Prime Minister, Oliver Dowden, serving as the frontman for a broad spectrum of UK’s ingenuity and distinction.
PROSPEROUS HORIZONS is both the starting block and the springboard for a year-long campaign to project UK’s competence and capacity in sectors of alignment with Saudi Arabia’s revolutionary roadmap – the “Vision 2030”.
A testament to Saudi’s foresight, Vision 2030 is the country’s robust diversification strategy intended to maximize productivity, boost competitiveness and achieve economic transformation. At the core of this transformational programme are five landmark projects, oriented towards attracting investment worth $3 trillion by 2030, and creating industries of tomorrow. This initiative also offers a glimpse of Saudi Arabia’s geographical splendour, cultural ancestry, entrepreneurial vibrancy, commitment to inclusivity, and dedication to preserving its environment.
Aligning with the opportunities of this vision, the UK is bringing a delegation of high-level business representatives from crucial sectors like tourism, clean tech, commerce, fashion, education, sports, architecture, insurance, and culture.
Reflecting on the initiative, Deputy Prime Minister, Oliver Dowden, observed:
PROSPEROUS HORIZONS provides a unique platform for fostering future partnerships between enterprisingly inventive UK companies and their Saudi corporate and government counterparts. It’s a pleasure to head such a gifted delegation to this monumental occasion. From academia to cutting-edge technologies, the UK boasts of unique expertise to share globally. Our close ties in security and energy sectors continue to strengthen, and we look ahead to stronger connections in novel areas that underpin the Vision 2030 agenda.
Deep-rooted diplomatic relations and commercial ties have been the historical foundation of UK and Saudi Arabian relationship.
The event will majorly underscore two spheres of UK and Saudi Arabian collaboration:
1. Pioneering collaborations in research, transformational technologies, clean tech emergence, sustainable engineering and finance
2. Enhancing quality of life, with focus on fashion, art, sports, education, tourism, architecture, and media
In line with Brexit’s opportunities, the government ensures business prosperity through worldwide trade deals. The UK has brokered trade deals with 73 countries including the EU since Brexit, representing trade worth £1.1 trillion in 2022, and seven US state-level MOUs combined with a GDP of £3.3 trillion, just shy of Germany’s GDP.
Saudi Arabia’s Minister of Commerce, Majid bin Abdullah Al Kassabi, offered his views:
Saudi Arabia delights in hosting this important event and creating an engaging environment for top minds in business, academia, and entertainment from both countries. This event marks the inception of a lengthy and fruitful collaboration focused on technology, innovation, and our vibrant cultural sectors. We anticipate engaging with the UK Government and the private sector to actualise Vision 2030 objectives.
Adding to these sentiments was Lord Johnson, Minister for Investment at the Department for Business and Trade:
The already flourishing trade and investment relationship between the UK and Saudi Arabia is set for further reinforcement through this initiative. As both countries work towards fostering stronger relations in critical sectors such as innovation and the creative industries, enormous opportunities beckon for businesses at both ends. Showcasing the best of British innovation and creativity on an international platform is something I eagerly anticipate.
