The Dammam chapter of the Saudi-India Business Network (SIBN) was inaugurated on Aug. 8 by Indian Ambassador Dr. Ausaf Sayeed, in the presence of leading Saudi and Indian businesspersons and professionals based in the Eastern Province. 

The launch event began with the address of the ambassador, during which he briefed the audience on the evolution of the SIBN and its significance in the context of growing economic and commercial ties between India and Saudi Arabia. He also highlighted the preeminent position of the Eastern Province as the oil and gas and industrial hub of the Kingdom. 

President of the Dammam chapter Hassan Al-Qahtani and vice president Dr. Siddeek Ahmed spoke on the occasion. The executive committee also includes Meenakshi Sundaram, country head of L and T Hydrocarbon, as general secretary and Naved Gani of Al-Syed Builders as the treasurer. Other executive committee members consist of prominent Saudi and Indian professionals having rich experience across a wide range of sectors. The event also witnessed presentations by Ziyad Al-Hudaib from the Ministry of Investment of Saudi Arabia, Ahmed Al-Majdouie of Al-Majdouie Group, and Sundaram of L and T. The inauguration of SIBN’s Dammam chapter completes the process of its launching as a pan-Saudi network with the Riyadh and Jeddah chapters having been launched previously.

SIBN is a professional organization that groups together entrepreneurs, senior executives and professionals from Saudi Arabia and India. Brainchild of Dr. Ausaf Sayeed, the then consul general of India, it was formally launched on March 13, 2005 in Jeddah by the then acting chairman of the Jeddah Chamber of Commerce and Industry Ghassan Al-Sulaiman, under the patronage of M.O.H. Farook, the then ambassador of India.

SIBN aims to act as an informal interface to promote trade and commerce, business alliances, joint ventures and investments between India and Saudi Arabia on a bilateral basis. 

The network aims at introducing Indian companies to the vast opportunities that exist in the Kingdom and to aid them in projecting their expertise and strengths in various disciplines for prospective alliances with business and trade organizations operating in Saudi Arabia. It also aims to provide a reciprocal interface for business and trade organizations established in Saudi Arabia to explore business opportunities in India.