Oslo – September 22, 2025
His Excellency the Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center, Dr. Majid bin Abdullah Al-Kassabi, affirmed that Saudi Vision 2030, launched by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister (may God protect him) has brought about an unprecedented transformation in the Saudi economy. The Kingdom has implemented more than 900 legislative and regulatory reforms to build a competitive economy, in addition to launching the world's most ambitious projects. These efforts have contributed to the Kingdom's GDP exceeding $1.3 trillion, establishing the Saudi economy as the largest in the Middle East and the 17th largest globally.
Heading a 30-member delegation of Saudi public and private sector leaders, H.E. Al-Kassabi participated in the Saudi-Norwegian Business Forum. During the event, which was organized by the National Competitiveness Center, he underscored the two countries' key similarities, notably their shared wealth of natural resources and strong communities striving for economic prosperity.
H.E. Al-Kassabi added, while addressing an audience of over 130 public and private sector leaders from both countries, that Norwegian companies are already established in the Kingdom. He emphasized the shared desire to deepen collaboration in key sectors, including logistics, shipping, fisheries, advanced manufacturing, tourism, digitalization, healthcare, education, and creative industries. To underscore this strong economic relationship, he highlighted that bilateral trade surged by 360% between 2020 and 2024, reaching $828 million.
Norwegian Minister of Trade and Industry, Ms. Cecilie Merseth, highlighted the forum offered Norwegian businesses the chance to engage with their Saudi counterparts and explore opportunities, reflecting their growing interest in expanding their presence in the Kingdom.
Prior to the forum, the National Competitiveness Center, in cooperation with the Saudi Embassy in Oslo, held a reception to celebrate Saudi 95th National Day. The event was attended by the Custodian of the Two Holy Mosques' Ambassador, Khalid bin Mohammed Al-Sharif, and numerous additional ambassadors and members of the diplomatic corps accredited to Norway.
During the forum, Her Excellency Dr. Eiman Al-Mutairi, Vice Minister of Commerce and CEO of the National Competitiveness Center, reviewed key reforms designed to enhance the Kingdom's competitiveness and outlined promising opportunities within its vital sectors. She noted that the issuance and updating of 1,200 regulations and bylaws have transformed the business environment into a leading global destination for companies and business owners.
Mr. Svein Tore Holsether, President of the Confederation of Norwegian Enterprise, stated that the Kingdom of Saudi Arabia has embarked on a remarkable transformation journey through Vision 2030, prompting many Norwegian businesses to collaborate with Saudi companies. This is evidenced by the fact that over 100 Norwegian companies visited the Kingdom last year.
The forum featured three dedicated workshops designed to foster knowledge exchange on key sectors. The first, “Navigating the Future of Maritime Technologies," focused on innovation in navigation, advanced solutions for maritime transport and port management, and the application of AI and IoT to enhance logistics services.
The second workshop, "Innovation in Aquaculture and Fisheries," explored topics such as innovation in aquaculture, smart industry solutions, digital monitoring, feed automation, and leveraging environmental data.
The third, "Circular Economy and Industrial Decarbonization," examined strategies for promoting circular economy solutions, enhancing industrial sustainability, and redesigning systems to eliminate waste and cut emissions.
The Saudi delegation included leaders from numerous key entities, including the Ministries of Commerce; Energy; Investment; Industry and Mineral Resources; Environment, Water, and Agriculture; and Transport and Logistics Services. Also represented were the Saudi Ports Authority, the Saudi Food & Drug Authority, and the Public Investment Fund, in addition to the National Competitiveness Center, the Federation of Saudi Chambers of Commerce, and executives from several leading national companies.
