Saudi- India Business Network re-launched to include major industrial areas of the Kingdom

Date 14-Sep-2020    Time 12:15 PM

The Embassy of India in Riyadh held a virtual launching ceremony of the Saudi – India Business Network on September 12, 2020, wherein H.E. the Ambassador of India to the Kingdom of Saudi Arabia, Dr. Ausaf Sayeed inaugurated the network’s website available on http://sibnksa.com/.

The event began with his address during which he apprised that the Embassy is re-launching the Saudi-Indian Business Network (SIBN) as part of the growing economic and commercial ties between India and the Kingdom of Saudi Arabia. He added since the bilateral relations have witnessed an upward trajectory in recent times in almost all spheres and both the countries are now Strategic Partners, it is very important and timely that the business leaders of both countries work closely under an institutionalized mechanism to further this relationship.

The Ambassador mentioned that it will be a country-wide expansion of SIBN organization already functioning in Jeddah for the many years which has proved to be a successful model conducting several activities by the business communities of both countries. The newly-proposed SIBN will have chapters based in Riyadh, Dammam and Jeddah with a National Executive Committee and chapter-wise committees.

The Ambassador, with long time experience of having worked in Saudi Arabia, explained that the expansion of the network was a necessity and long overdue as the economic relations between the two friendly nations have grown multifold and the bilateral commercial activities have spread across the kingdom.

He informed that Saudi-Indian Business Network (SIBN) will consist of prominent Indian businessmen and professionals based in the Kingdom and their Saudi counterparts engaged with India. The Ambassador elucidated that the organization aims to provide a platform for the promotion of trade and commerce in different sectors and encourage two-way investments. He further added it would act as an interface to apprise Indian Companies of the vast opportunities being offered in the Kingdom and the same to the Saudi business community in India.

The President, SIBN Mr. Abdullah M. Kassabi, CEO, Al Musheera Group, thanked the Ambassador for taking forth the network to a pan-Saudi level. He emphasized that existence of this unique platform will facilitate collaboration among the business entities of the both the countries and thus help in pushing the bilateral economic relations.

The President of the regional chapter of SIBN in Riyadh Mr. Khaled Al Aboodi, a prominent economist with 35 years of work experience with Government ,Multilateral Development Finance Institutions, and private sector, congratulated the Embassy for making SIBN’s launching ceremony a success while adapting to the COVID situation.

Mr. Mazen Batterjee, Chairman, Batterjee Holding Company, who will now lead the regional chapter of SIBN in Jeddah shared his experience of being connected with SIBN since 2006. He agreed with the Ambassador regarding the importance of the network’s expansion while adding that it will provide much needed support to the business people of Saudi and India throughout the country.

The President of the Dammam chapter of SIBN , Mr. Hassan Al Qahtani, Founder and CEO of AWJ Energy, highlighted the significance of including Dammam as a regional chapter as the Eastern Province is a major hub of industrial activities. The program also included introductory speeches by office bearers of the regional committees.

The members of the network also thanked the Ambassador for taking the initiative and providing an excellent platform for collaboration. The event was attended by more than 200 people which included prominent business people, representatives of authorities, and chambers of commerce from both the countries.

A brief presentation about SIBN is available at https://youtu.be/ru8srEUsH0Q.

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