Opening a representative office of the Saudi Export-Import Bank in the Asharqia Chamber
The CEO of the Saudi Export-Import Bank, His Excellency Engineer Saad bin Abdulaziz Al-Khalab, in the presence of the Chairman of the Board of Directors of the Asharqia Chamber, Badr bin Sulaiman Al-Ruzaiza, opened today, Tuesday, May 7, 2024, the representative office of the Saudi Export-Import Bank at the Chamber’s main headquarters.
The office provides its services to the business sector in the Eastern Province in the fields of export and import, through the bank’s various products that include (import financing, supply chain financing, pre-export financing, international financing line, local financing line, international buyer financing, structured financing for international projects, And financing working capital), which supports local products and increases the shares of national products in foreign markets.
His Excellency Al-Khalab stated that the opening of the representative office in the Eastern Province came based on the bank’s expansion plans, its presence near local exporters in the regions of the Kingdom, and the facilitation of transactions and services that the bank provides to investors in the fields of export and import, in order to contribute to empowering the Saudi non-oil economy and developing Saudi non-oil exports. And enhance its competitiveness in global markets, by closing financing gaps and reducing export risks.
For his part, Al-Raziza explained that the opening of the representative office of the Export-Import Bank comes in light of the ongoing coordination and partnership between the public and private sectors, and enabling relations with local economic entities, by providing various products from the bank, to contribute to achieving the goals of the Kingdom’s Vision 2030 to strengthen, stimulate and encourage national industries. Consumers to buy local goods, develop and enhance the Kingdom’s exports to global markets, and support the business sector in the Eastern Region, which raises the level of empowerment of investors in the export and import sector.
The Saudi Export-Import Bank aims to enhance the development of Saudi non-oil exports and increase their competitiveness in global markets in various sectors, by providing credit solutions to finance exports, guarantees, and export credit insurance with competitive advantages, within the objectives and pillars of the Kingdom’s Vision 2030 concerned with increasing the proportion of non-oil exports. Oil to non-oil GDP.
