Leading Saudi Arabian companies participated in a business-investment workshop of Enterprise Greece

Athens, July 10th, 2024 | Representatives of 6 leading Saudi Arabian companies in the agrifood and agrotechnology sectors, accompanied by government officials from Saoudi Arabia’s Ministry of Investment, participated in a business-investment workshop organized by Enterprise Greece. The investment workshop took place as part of a two-day visit by Saudi Arabian businesses to our country (July 9th-10th, 2024).

Enterprise Greece officials welcomed the business delegation, which consisted of the following companies:
• Agricultural Development Fund: Government credit institution specialising in financing various agricultural activities throughout the country, in order to assist in the development of the agricultural sector and improve its productive efficiency, using the best scientific methods and modern technologies.
• Lalei Albarakah International Group: Company involved in the supply of food and fruit, such as pineapple and summer fruit from the Far East, active in more than 14 countries.
• Jofal Olive Oil: One of the largest oil mills in the Kingdom of Saudi Arabia, mainly providing olive oil products.
• Leen Alkhair Trading: Company involved in the fresh fruit and vegetable sectors.
• Saudi Greenhouses Management & AGRI Marketing Co: Company managing almost 75 hectares of greenhouses in the Kingdom of Saudi Arabia. A pioneer in the production of vegetables, such as fresh tomatoes, cucumbers, lettuce, high-quality herbs.
• Faidh International: Company involved in food trading and the development of “smart” agricultural infrastructure.
On the first day of the business visit (July 9th, 2024), a business-investment workshop was held, aiming at highlighting areas of business-investment cooperation, as well as at presenting the participants with the opportunity to comprehend recent developments in the agricultural sector in both countries, to exchange views on agrotechnology, modern methods of cultivation, processing of agricultural products and food production in general.

On the Greek side, there were representatives of companies involved in the sectors of modern greenhouse cultivation, fruit and juices, fish and fish farming, olive and olive oil, and irrigation systems.

The workshop started with a welcome speech by the CEO of Enterprise Greece, Dr. Marinos Giannopoulos, followed by a presentation of the Greek agriculture’s prospects, its dynamics in terms of innovation and the significant investment opportunities opening up, given by the Rector of the Agricultural University of Athens, Prof. Spyros Kintzios. Mr. Kintzios, after pointing out that Greece still retains the advantage of a rich biodiversity, a long agricultural tradition and climatic-territorial conditions, underlined, among other things, that we are moving towards a new production model that will incorporate technology and innovation. A new production model evolving around the pillar of smart agricultural technologies.

Then, Mr. Mohammed Alohaly, Director General of Agriculture and Food at the Saudi Arabian Ministry of Investment, presented his country’s agriculture and food industry sectors, highlighting them as priority sectors in Saudi Arabia’s vision of economic diversification “Saudi Vision 2030”, while he also referred to the Saudi Arabian government’s commitment to boost self-sufficiency in the sector, creating opportunities for local production activity. The section of presentations closed with Enterprise Greece’s Director of Investment Attraction, Mr. Elias Eliades, who outlined the Greek investment proposal with reference to the priority sectors, the available investment incentives and the reforms that have taken place in recent years, which make Greece a benchmark for investment developments in a number of economy sectors, including the primary sector.

The workshop ended with a two-hour round table discussion, attended by all companies from both sides. During the discussion, the developments in each company’s fields of activity were extensively highlighted, while ideas and opinions were exchanged regarding areas of bilateral cooperation. The Saudi Arabian delegation’s interest strongly focused on the very substantial investment opportunities opening up for the country in specific sectors of the overall agrifood sector, such as -indicatively- the processing of agricultural products and food production, concentrates production, cereal production, fish farming and the production of private label olive oil. These are areas where Greece can act as a catalyst.

On the second day of the visit (Wednesday, July 10th, 2024), the Saudi Arabian delegation, with the assistance and support of Enterprise Greece, made targeted visits to modern agrifood production units in Northern Greece. The delegation toured modern greenhouse units for the hydroponic cultivation of -mainly- vegetable products, with its representatives gathering information on the use of advanced technological methods that can guarantee both a stable, high quality production, as well as the development of a fully sustainable agricultural cultivation model.

On the occasion of the Saudi Arabian delegation’s visit to Greece, the CEO of Enterprise Greece, Dr. Marinos Giannopoulos, stated the following: “Greece and Saudi Arabia maintain excellent relations, which have now been upgraded to a strategic level, while we are particularly pleased that our country has been hosting significant investments by renowned Saudi Arabian businesses in recent years. The agrifood and agrotechnology sectors can be a dynamic area of bilateral cooperation. Given our important agricultural tradition and heritage, the strategic position of the Greek agricultural sector in Europe and the key role of the Greek food industry in domestic production, with high quality raw materials that are identified with the Mediterranean, healthy diet, Greece can be the ideal business and investment partner for Saudi Arabia. At the same time, the introduction and application of modern, advanced technologies and methods in domestic agricultural cultivation by a multitude of innovative Greek companies can be the best option for developing synergies in order to achieve the goals of Saudi Vision 2030, where the agricultural sector plays a significant role.”