Economic Mission to Saudi Arabia & Bahrain
Working in Fintech or financial services? Wanting to explore the Middle East market? Then book those dates in your export agenda: 21 to 27 October.
hub.brussels, in partnership with the Belgian Finance Center and FinTech Belgium, organize an economic mission in Saudi Arabia and Bahrain, focusing on those sectors.
During this economic mission you will :
Get ample insight on what is going on in this fascinating quickly changing region;
Learn and meet with stakeholders involved in the financial sector;
Start building your network and assist at multiple learning opportunities with innovators, academics, entrepreneurs;
Mingle and network with local and Belgian/European entrepreneurs living in the region;
Access valuable exclusive information sessions and round tables on upcoming projects in this fast growing region;
Identify new business opportunities and leads;
Learn if your product or service can be a winner in the GCC and how to approach this enormous market;
Meet with potential clients/partners.
Programme
Saturday 21 Oct
Flight Brussels – Istanbul TK1938 (11.25 – 15.50)
Flight Istanbul – Riyadh TK140 (20.15 – 00.25+1)
Sunday 22 Oct
Checking at Al Mashreq Boutique Hotel
09.30 – 10.30 Breakfast briefing of the mission
10.30 – 13.00 Seminar : The importance of the Financial Sector in Saudi Arabia
Doing business in Saudi & Legal reforms on the Saudi Financial Sector – by AP Legal
Financial Sector Development Programme – Topic: Saudi Arabia the new hub of Financial Services
Islamic Development Bank – Topic : The roles of the Islamic Bank in the Saudi Development Plan 2030
Saudi Central Bank (SAMA) – Topics : Central Bank Digital Currency (CBDC) ; The Transformational Role of Big Tech in the Financial Sector
Saudi Payments Co. – Topic: The future of the Digital Payments in Saudi
13.00 – 14.00 Lunch break
14.00 – 20.00 B2Bs and networking diner
Monday 23 Oct
10.00 – 14.00 Site visit to KAFD and presentations at Fintech Saudi with its members
15.00 – 20.00 Site visit and diner in the historical city – Diriyah
Tuesday 24 Oct
Discovery of the financial ecosystem of Saudi Arabia
18.00 Departure to the Residence of the Belgian Ambassador
19.00 – 22.30 Networking reception at the Residence
22.30 Departure to the hotel
Option 1
Wednesday 25 Oct
Departure to Bahrain
Check-in at the hotel (TBD)
Activities and B2Bs with Bahrain Fintech Bay
Thursday 26 Oct
Discovery of the financial ecosystem of Bahrain
19.00 – 22.00 Networking event
Friday 27 Oct
Flight Bahrain – Istanbul TK779 (01.05 – 05.25)
Flight Istanbul – Brussels TK1937 (08.00 – 10.35)
Option 2
Participation to the FII 7th Edition in Riyadh : from 24 to 26 October.
The FII – Future Investment Initiative – is an annual investment forum held in Riyadh. This event is in a way the “Davos of the Middle East” and gathers Heads of States and decisions makers from all around the world. The FII event offers a unique and valuable opportunity for investors and business leaders to connect, learn, and explore new investment opportunities and strategies.
Costs & visa
Registration fees to participate to the economic mission (including networking events and receptions, local group travel, tailor-made program):
0€ / starter (less than 4 years)
100€ / company (SME 0-249 people)
300€ / company (>250 people)
Travel fees
Flights with Turkish : approx. 720 €
Flight Bahrain – Riyadh : approx. 290 €
Hotel costs : approx. … (including breakfast)
Visa procedure
For Saudi Arabia, a single or multiple entry visa will cost SAR 440 (including insurance and taxes) (approx. 108 €) and will be valid for a maximum of 90 days in a year. Please consult the procedures on the following website : https://visa.visitsaudi.com/
For Bahrain, a short-term visa of up to 2 weeks can be obtained on arrival at Bahrain airport.
Economic context
Saudi Arabia
Saudi Arabia is experiencing a remarkable transformation, marked by a rapid and unprecedented pace of development. One of the most significant developments in Saudi Arabia has been the government’s efforts to diversify the economy away from its heavy reliance on oil revenues. The country has invested heavily in infrastructure, technology, and education to create a more diversified and sustainable economy.
The country is implementing a series of economic reforms, including the ambitious Vision 2030 program, aimed at encouraging investment and growth in the country.
One of the key initiatives is the development of a fintech ecosystem in the country. The government has established a regulatory sandbox for fintech startups, allowing them to test new products and services in a controlled environment.
The government has also launched several initiatives to encourage foreign investment in the financial sector. For example, it has lifted restrictions on foreign ownership of listed companies and introduced new regulations aimed at protecting foreign investors’ rights.
Another area of development in the financial sector has been the introduction of Islamic finance, in which Saudi Arabia is a global leader, with the largest Islamic banks in the world headquartered in the country. The government has introduced new regulations aimed at promoting the growth of the Islamic finance sector, including the establishment of a dedicated regulatory authority.
Bahrain
Bahrain is a small country strategically located in the Gulf with easy access to major markets such as Saudi Arabia, Kuwait, Qatar and the United Arab Emirates. The country has a business friendly environment with transparent regulations, and a liberal business environment that encourages foreign investment.
The country has a modern financial infrastructure and a stable regulatory framework. In Bahrain, the financial sector has been a key driver of the country’s economy for several decades. The country has a long history of financial services, dating back to the 1970s when it established itself as a regional hub for banking and finance. Bahrain has a highly diversified financial sector, which includes banking, insurance, investment management, and Islamic finance.
The country has also been a leader in the development of Islamic finance, with many of its financial institutions specializing in Shariah-compliant products and services. Bahrain has also been a pioneer in the development of Islamic capital markets, with the establishment of the Bahrain Bourse, which offers a range of Islamic financial products and services.
Any questions?
Address them to
Ghislain BREYDEL – Area Manager Asia & North Africa
+32 499 86 80 45