Asmara, 7 October 2009

by – Eritrea ministry of information

Saudi investors who conducted a working visit in different parts of Eritrea expressed satisfaction with the available investment prospects and advantages in the country.

The visiting investors are representatives of the Saudi ministries of foreign affairs, agriculture, trade and industry, as well as members of the Saudi Kingdom’s development and investment funds, representatives of the Chamber of Commerce and Ports Corporation. They received extensive briefings by Dr. Woldai Futur and heads of different institutions regarding the existing investment prospects in Eritrea in various domains.

In the course of the visit to the Northern Red Sea and Southern regions, the Saudi investors personally witnessed the available investment opportunities in the spheres of agriculture, fisheries, port and free zone.

The head of the visiting group and Director General of Ports Corporation and the King Fahad Port, Dr. Hamoud Bin Abdu Al-Saedi, stated that the visit which is in line with the growing relations between the two countries is aimed at further enhancing such ties through taking practical initiatives. He pointed out that the Saudi investors have learnt that Eritrea is endowed with reliable transport and communications infrastructure, as well as enough electricity supply. Noting that there exist tangible investment opportunities in Eritrea, Dr. Hamoud Bin Abdu Al-Saedi asserted that the investors would inform members of the Saudi business community about the available investment prospects and advantages in Eritrea.

The Eritrean Ambassador to Saudi Arabia, Mr. Mohammed Omar Mahmoud, outlined the historical relations between the two countries. He also indicated that the current exploratory visit conducted on the part of the Saudi government institutions is the continuation of President Isaias Afwerki’s visit to Saudi in April 2008. The Ambassador further expressed conviction that cooperation agreements would be concluded shortly.

Likewise, Dr. Woldai Futur explained that the visit of the investors is on the basis of the understanding reached between President Isaias and King Abdalla Bin Abdel-Aziz of Saudi Arabia. In-depth discussion was conducted mainly in the domains of agriculture, fisheries and innovation, he added.