It proved a very instructive trip, with all the ingredients to interest companies in Monaco. The Saudi Arabian Chambers of Commerce Federation, that of Riyadh and investment arm Invest Saudi welcomed Monaco Economic Board (MEB) representatives as potential partners likely to enter ongoing discussions with companies and institutions in the Kingdom.
Invest Saudi representatives in particular are keen to get to know the Principality’s business ecosystem better as they regularly invest abroad, particularly in the technology, innovation, mobility, energy and sustainability sectors. MonacoTech was cited as a potential incubator.
All contacts made appeared professional and reliable. The Beefbar Born in Monaco, which opened in Riyadh in June 2022 and is proving a big success, is a pioneer of an environment that is now permanently open.
The MEB contingent, guests at the Formula E Grand Prix (e-Prix), saw for themselves the quality of companies in the Gulf countries, in particular those in Saudi Arabia.
As a result, numerous meetings were held throughout the three-day visit, including Neom and its Neom-Maclaren team, which hosted the Monegasque representatives during the e-Prix.
A date was set for January 2024 for a visit to coincide with the ePrix, but this time as a Trade Mission with a delegation of MEB member companies to meet potential partners in the Kingdom of Saudi Arabia.
Source: Monaco Economic Board