Finland, Saudi Arabia have potential to partner in digitization, energy transition: minister

  • 1/10/2024
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RIYADH: Finland and Saudi Arabia have the potential for future partnerships in digitization and energy transition fields, according to the Finnish minister of economic affairs. In an interview with Arab News on the sidelines of the Future Minerals Forum in Riyadh, Wille Rydman highlighted the strengthening economic ties between the two countries. This aligns with Finland’s goal of establishing diverse collaborations to ensure the sustainability of the country’s supply chains amidst potential disruptions, including the current geopolitical tensions in the region. Rydman said: “Finland is one of the most digitalized countries on earth and Saudi Arabia has ambitious goals when it comes to digitalization.” He added: “We know several companies that might have that very interesting knowhow to give and to sell to Saudi Arabia; so that’s one of the reasons and fields where we can act together.” The minister also highlighted that this is applicable to industries related to energy transition. Rydman noted, “Secondly, when it comes to energy transition, Finland is known for its ability to make clean energy transition solutions. As Saudi Arabia is also multiplying its energy sector, there is a lot to give.” Additionally, the minister revealed that several Finnish companies are already present in the Kingdom, and there is a growing interest from more firms in entering the market. “I also think that there are several interesting projects going on in Finland where Saudi investors might find quite interesting,” Rydman underlined. The Future Minerals Forum serves not only as a discussion platform but also as a beacon for global cooperation in the production of critical minerals essential for transforming the energy sector. Over the two-day event, key discussions are anticipated to focus on the potential of the major mineral-rich super region. Government representatives and officials from multilateral organizations such as the UN and the World Bank, along with trade and business associations, are expected to exchange ideas and experiences.

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