New Delhi [India], September 11 : Prince Fahad Bin Mansour Al-Saud of Saudi Arabia has congratulated India for hosting a successful G20 Summit and also expressed happiness at the announcement of the StartUp Bridge between Saudi Arabia and India.
“We would like to congratulate India for hosting a successful G20 Summit. We are happy to have the welcome from the leaders for Startup20,” said the Saudi Prince in an exclusiveinterview.
Speaking after the conclusion of the India-Saudi Investment Forum, Prince Fahad Bin Mansour Al-Saud of Saudi Arabia said that he believes StartUp20 will support India and Saudi Arabia in building up the momentum for entrepreneurship ecosystems in both countries.
“We have seen a lot of MoUs that have been signed…We would like to see the momentum keep on going. We are here to support and we just concluded the Investment Forum between Saudi and India. There were a lot of commitments which we have seen from the ministers and everyone…We are happy to be a part of it…,” he added.
Saudi Arabia and India have signed over 50 agreements at Investment Forum following the G20 Summit, according to Saudi Arabia’s Ministry of Investment.
"Today, we signed an MoU that bridges both StartUp ecosystems and entrepreneurship and investors. So today we are part of this MoU to initiate a joint fund between Saudi and India ti invest into StartUps in both countries and I believe that this is just the beginning and this is a foundation for what is coming. Very soon we will be announcing all the outcomes from these MoUs," said the Prince of Saudi Arabia.
He also said that the outcomes of these MoUs will be announced very soon.
Earlier, speaking on the sidelines of India-Saudi Investment Forum, organised by FICCI, jointly with DPIIT and the Ministry of Investment of the Kingdom of Saudi Arabia, Subhrakant Panda, President, FICCI said, “India-Saudi Arabia relation is a strategic partnership rooted in the history. Common interests in energy security, infrastructure, and technology has given momentum to the bilateral relationship.
"While trade has doubled in just five years, it is still just a fraction of the potential. There are many areas where we can achieve significant progress by working together such as Green Hydrogen and Fintech,” he added.
Shailesh K Pathak, Secretary General, FICCI said, “As two fast-growing G20 countries, governments on both sides are creating the best path to more economic ties. It is up to us in the private sector to leverage the opportunity.”
Khalid Al-Falih, Minister of Investment for Saudi Arabia, led a senior delegation to the Indian – Saudi Investment Forum in New Delhi on Monday. The forum culminated in the signing of over 50 Memoranda of Understanding in fields of ICT, entrepreneurship, chemicals, energy and advanced manufacturing, the ministry’s statement added.
This exchange of commitments marks a significant milestone in the economic partnership between India and Saudi Arabia.
Startup 20 is the first of its kind official engagement group initiated under the Indian presidency of the G20 2023. The engagement group would act as the voice of the global startup ecosystem bringing together varied stakeholders on a common platform.
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