The Saudi-Yemeni Business Council announced, on Wednesday, November 27, 2024, the organization of joint discussions between the two countries in Mecca, scheduled to be held during the period from December 22 to 24, 2024. The events will be held under the slogan “Saudi Vision and Yemeni Development 2030 towards a Better Future.” ", with the aim of enhancing economic cooperation and expanding investment opportunities between the Kingdom and Yemen.

In a statement, the Council stressed the importance of its strategic role in supporting economic initiatives, strengthening ties between businessmen in both countries, and advancing joint projects supported by the Saudi and Yemeni leadership.

For his part, the head of the Saudi side of the Saudi-Yemeni Business Council, Dr. Abdullah Marai bin Mahfouz, stated that the council is working within a clear plan in line with the Kingdom of Saudi Arabia’s Vision 2030. He added that the economic sector represents an essential factor in enhancing economic stability in Yemen, as it Emphasis is placed on the importance of the role of the Yemeni private sector in advancing development.

Bin Mahfouz indicated that the upcoming discussions will focus on exploring investment opportunities in several sectors, such as agriculture, renewable energy, logistics services, and developing exports and imports.

Economic observers explained that Saudi investments in Yemen include many important sectors, such as energy, infrastructure, health, and education, and have contributed significantly to supporting the Yemeni economy over the past years. Reports confirm that Saudi Arabia has provided economic and development support to Yemen exceeding $50 billion over the past decades, which included supporting Yemeni government budgets and financing development and investment projects, such as deposits in the Central Bank of Yemen.

With regard to investments by Yemenis in the Kingdom, they are distributed among various sectors, including real estate, food industries, and commercial services, which is considered a successful model of economic cooperation between the two countries.