INTREVIEW: Mauritania Offers Golden Opportunities for Saudi Investors: Envoy Moktar Ould Dahi
Business
- In an exclusive interview with Moktar Ould Dahi, Mauritania’s ambassador to Saudi Arabia, the envoy discussed the political, economic, and trade relations between the two countries. He also highlighted the investment opportunities available for Saudi businessmen in Mauritania and the incentives provided by the Mauritanian government to attract foreign investment.
Political and Diplomatic Relations
Q: How do you assess the current trade, economic, and political relations with Saudi Arabia?
I appreciate this chance to speak. Our political and diplomatic relations are excellent. We share similar views on many regional and international issues. Moreover, we consistently coordinate our positions on the global stage. High-level visits also demonstrate this strong bond. Our president recently met with Crown Prince Mohammed bin Salman during the Hajj. They discussed issues of mutual interest and strengthening our partnership.
However, our economic relations can certainly be better. The current trade volume does not meet our shared ambitions. We are working diligently to improve this situation. Our role is to boost trade, capital flow, and human resources. We want to create a more dynamic economic partnership between our countries.
Boosting Trade Through Joint Council
Q: What is the significance of forming the first Saudi-Mauritanian Business Council?
The recent formation of this joint council is a major step forward. A large Saudi delegation just visited Mauritania. The president of the Federation of Saudi Chambers led this important visit. They received a warm welcome from our government and business leaders. This council aims to stimulate trade and economic exchange between us.
The council will focus on three main workshops. First, it will promote partnerships between our private sectors. Mauritania has vast investment opportunities. Saudi Arabia possesses significant capital. When these two meet, it creates a win-win situation for everyone. This collaboration will be the cornerstone of our future economic success.
Key Sectors for Saudi Investment
Q: Which economic sectors are you focusing on to attract Saudi investments?
We are focusing on sectors with competitive advantages for Mauritania. These sectors also align with Saudi Arabias interests and Vision 2030. The mining sector, for instance, holds immense potential. Mauritania has a vast, largely untapped mineral wealth. We have an estimated 15 billion tons of iron ore reserves.
Imagine if Saudi capital and expertise developed our steel industry. This would bring huge returns for Mauritania and Saudi investors. We also have significant gold reserves, estimated at 250 million ounces. Additionally, there are opportunities in copper, uranium, phosphate, and gypsum. Linking Saudi capital with our resources will benefit both nations greatly.
Q: Saudi Arabia is very interested in green hydrogen. What are the prospects for cooperation in this area?
Green hydrogen is another promising area for our two countries. Mauritania has recently recognized its importance and potential. We are one of the few countries with a legal code for green hydrogen. We know Saudi Arabia has a strong interest in this sector. Saudi companies have already expressed their interest in our potential. We expect a fruitful meeting of Saudi and Mauritanian interests soon.
Untapped Potential in Fishing and Agriculture
Q: What opportunities are available in Mauritanias fishing sector?
Mauritania has a 750-kilometer coastline on the Atlantic Ocean. Our waters are among the richest in the world for fish. We currently export 1.8 million tons of fish annually. However, this is mostly raw material with little processing. Saudi Arabia can cooperate with us in two main areas.
First, Saudi companies can obtain fishing licenses in our waters. Second, there are huge opportunities in fish processing and manufacturing. Our investment code offers attractive incentives for foreign investors. We especially welcome investors in productive sectors like this one. This will add value and create jobs for our people.
Q: What about investment opportunities in the agricultural sector?
Our agricultural sector also offers incredible potential for growth. We have 500,000 hectares of arable land along the Senegal River. Currently, we only cultivate about 25 percent of this land. Therefore, there are vast opportunities for land reclamation and irrigation projects. With Saudi investment, we can significantly boost our agricultural output.
We have already achieved self-sufficiency in rice production. There are also advanced efforts in vegetable cultivation. Furthermore, our land is suitable for growing wheat. If Saudi investors help develop this land, it will create major opportunities. This will ensure food security and generate substantial returns for investors.
A Vision for a Prosperous Future
Q: How do you see the future of relations amid regional transformations?
Our diplomatic and political relations are excellent and will continue to strengthen. Economically, the opportunities are immense and waiting to be seized. Saudi capital is looking for promising ventures across the globe. Mauritania offers these very opportunities in a stable environment.
Our main role now is to accelerate the meeting of the two. We must connect Saudi capital with Mauritanian investment opportunities. Once this happens, our economic relations will flourish beyond our current ambitions. We are confident that our partnership will reach new heights. This will bring prosperity and development to both of our nations.
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