Saudi Commerce and Investment Minister Majid Al-Qassabi.

Two memorandums of understanding (MoUs) and a bilateral agreement were signed on the sidelines of a Saudi-Djibouti businessmen forum in Djibouti earlier this week.

The MoUs were signed to rehabilitate King Fahd Road in Djibouti, and a grant was offered to support the health sector there.

The signing took place in the presence of Djibouti President Ismail Omar Guelleh and Saudi Commerce and Investment Minister Majid Al-Qassabi.

Guelleh welcomed Al-Qassabi and his delegation, saying this important event comes within the cooperation framework between the two countries.

The Kingdom has played a great role in supporting Djibouti in all fields since its independence, especially in the economic field, Guelleh added.

“You are our brothers and relatives, and we are keen that you would have priority relevant to investments in Djibouti,” he said.

Al-Qassabi conveyed the greetings of King Salman to the president, government and people of Djibouti.

The Kingdom’s Vision 2030 aims to attract foreign investments, create new markets for Saudi exports and have strategic trade partnerships with foreign countries, Al-Qassabi said.

“Saudi-Djibouti relations have a strong basis because of the Arab-Islamic ties that unite the two countries, in addition to their strategic position in the world,” he added.

“We should try to provide all necessary procedures to facilitate mutual investment, which will be reflected positively in the progress and prosperity of the two brotherly countries.”

Al-Qassabi thanked Guelleh for his kind hospitality, and expressed hope that mutual visits will continue in order to boost bilateral trade and investment.

There were various presentations at the forum for the development of investment, a seaport authority and free zones in Djibouti, as well as for Vision 2030.

The Saudi delegation included representatives of several governmental bodies and business people, including key officials from the Council of Saudi Chambers.