Monaco Economic Board completed a strategic mission to Saudi Arabia, marking a key step in its international expansion. The delegation explored commercial opportunities while establishing new partnerships, highlighting Monaco’s growing presence in the Middle East.
From November 24 to 27, 49 participants representing 34 Monegasque companies and institutions visited Jeddah. This fast-growing city, located between Mecca and Medina, is emerging as a hub of modern commerce and innovation. Moreover, it offers significant opportunities in luxury and lifestyle sectors.
The delegation included leaders from major law firms, key players in yachting and real estate, and specialists in private aviation and interior design. Additionally, artist Laurence Jenkell, renowned for her monumental candy-shaped sculptures, added an artistic dimension to the commercial mission.
Discussions began at the Jeddah Chamber of Commerce, where Ludmilla Raconnat Le Goff presented the Attractiveness Unit’s goals. Furthermore, a memorandum of understanding was signed between the Monegasque and Saudi chambers, formalizing commitments to closer economic ties.
Delegates also visited the Jeddah Yacht Club and engaged with the American Chamber of Commerce in Saudi Arabia. They identified potential collaborations in marine and luxury industries. The delegation explored joint ventures and investment opportunities that could benefit both regions.
The group toured King Abdullah University of Science and Technology (KAUST), a leading regional research hub. This visit demonstrated Saudi Arabia’s focus on innovation and technology, which aligns with Monaco Economic Board’s goals in high-value sectors.
The mission concluded with a visit to the Jeddah Central Development Company, which plans to transform the waterfront into a world-class destination. Officials highlighted potential collaborations in real estate, tourism, and lifestyle projects.
Monaco Economic Board emphasized that these exchanges, following a prior mission to Riyadh in early 2024, form part of a long-term strategy. In addition, the board seeks to foster partnerships in sectors where quality and excellence are central.
Experts noted that the delegation could unlock opportunities for luxury goods, services, and innovation-driven industries. Moreover, companies are expected to benefit from cultural exchange, strategic networking, and increased regional visibility.
Looking ahead, Monaco Economic Board plans additional missions and follow-up projects. These steps aim to strengthen trade links and support sustainable collaboration between Monaco and Saudi Arabia.
Overall, the mission highlights Monaco Economic Board’s commitment to expanding international influence. Furthermore, it combines tradition with modern business opportunities while promoting high-value partnerships.
