SG, Saudi boost cooperation on digital economy, energy efficiency

Through the Energy Cooperation Roadmap, the parties will create low-carbon solutions, amongst others.

Singapore and Saudi Arabia vowed to enhance cooperation in several fields, including connectivity, digital economy and innovation, energy, and industry.

Prime Minister Lee and Prince Mohammed bin Salman bin Abdulaziz Al Saud also agreed to enhance cooperation in environment, water, agriculture and food security; air, land, rail, port and logistics connectivity; tourism, culture, and youth; education; and health.

In the economic, trade and investment fields, the two sides reviewed challenges in the global economy and discussed the common economic interests between the Kingdom and Singapore.

The two sides welcomed the growth in the value of bilateral trade in 2022 by 51% as compared to 2021.

The two sides affirmed the opportunities in investment partnerships provided by the programs and projects of the Kingdom’s Vision 2030 in various sectors, benefiting from the expertise and capabilities of Singapore companies, and holding joint commercial and investment events.

The two sides also vowed to cooperate in low-carbon solutions and technologies, including clean and green hydrogen, as well as carbon capture, utilization and storage, electricity, renewable energy, energy efficiency and conservation, and innovation through the Energy Cooperation Roadmap.

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