Ahmed bin Sulaiman Al-Rajhi

Ahmed bin Sulaiman Al-Rajhi, chairman of the Board of the Riyadh Chamber of Commerce and Industry (RCCI), said agreements recently signed between the Kingdom, Malaysia and Indonesia will boost trade and investment ties.

Al-Rajhi praised the outcome of King Salman’s visit to some of the southeast Asian countries, starting with Malaysia and Indonesia.

He said the deals signed in Malaysia will attract investments worth over SR8 billion in the Saudi market and will give new impetus to the bilateral relations between the two countries.

Four memorandums of understanding (MOUs) were signed between the two countries covering trade and investment, labor and human resources, science and education and media.

During the king’s visit to Indonesia, deals were signed that covered many areas, including aircraft maintenance, software and e-solutions, electric appliances and energy, he was quoted as saying by Saudi Press Agency.

He said Malaysia has made strides in downstream industries, including mining and industrial production.

The second leg of king’s Asian tour to Indonesia, Al-Rajhi said, witnessed the signing of a series of MOUs and cooperation deals in areas related to small and medium enterprises (SME), transport, health care, fisheries, the scientific and cultural fields, and fighting crime.

The RCCI chairman expected the agreements and MOUs to support economic reform plans led by the king and make optimum exploitation of the Kingdom’s resources. The agreements will lessen dependence on oil as a sole income source, as envisioned by Vision 2030 and the National Transformation Program (2020).