Saudi Arabia Extends Helping Hand to Develop Sri Lankan Economy
Saudi Arabia consistently supports Sri Lanka’s economic development through humanitarian aid and substantial projects, creating job opportunities for over 5 million Sri Lankans. Under the leadership of King Salman bin Abdul Aziz Al Saud, Crown Prince Muhammad bin Salman bin Abdul Aziz Al Saud, and Minister of Economy and Planning Faisal Falil Al Ibrahim, Saudi Arabia aims to enhance Sri Lanka’s economy.
During Minister Faisal Al Ibrahim’s recent successful visit to Sri Lanka, discussions at the Presidential Palace with President Ranil Wickramasinghe focused on strengthening economic ties, particularly in apparel and tourism. The post-LTTE era has seen increased Saudi Arabian tourists, contributing to Sri Lanka’s economic growth. The agro-tourism sector and garment exports were key points in the talks.
Minister Faisal Al Ibrahim emphasized Saudi Arabia’s commitment to enhancing regional economic ties, with Sri Lanka holding a significant position. The minister engaged with CEOs of major Sri Lankan companies, discussing various aspects of economic and investment cooperation. Meetings with Sri Lanka’s Foreign Affairs Minister Ali Sabri covered deepening economic relationships and addressing common issues.
The gathering took place at Galle Face Hotel, Colombo, with the participation of Minister of Power and Energy Kanchana Wijesekhara, as well as State Ministers Taraka Balasuriya and Shehan Semasinghe, and Saudi Arabian Ambassador Khalid Bin Hamood Al Qahtani. Saudi Arabia’s robust economy, driven by initiatives like Vision 2030 and significant projects, positions it as a formidable global competitor. Recent oil discoveries in the eastern region of Saudi Arabia are expected to further strengthen the economy of the kingdom.
In addition, the nation’s strides in eliminating corruption have also played a pivotal role in its transformation into a hub of extensive development and prosperity. (M. H. Shehuddeen Madani,Director,
Al Hikma Welfare Association, Colombo)
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