Saudi Arabia’s Minister of Investments, Khaled Al-Falih, has said that partnership and investment agreements with France play an important role in helping the kingdom achieve its Vision 2030 goals.
Speaking at the Saudi-French Investment Forum in Paris, Al-Falih said: “In 2026, we will celebrate 100 years of diplomatic relations between France and Saudi Arabia. Many of Saudi Arabia’s achievements in Vision 2030 will bear the hallmarks of France’s partnership.”
“Both countries have bold ambitions and we are confident that our ambitions to implement Saudi Vision 2030 and France’s 2030 plan will be realized, especially with the strong and dynamic leadership that both The countries are achieving development goals under the leadership of King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman and France under the leadership of Emmanuel Macron.
The Franco-Saudi Investment Forum under the auspices of the Ministry of Investment of Saudi Arabia (MESA) will give the government officials and private sector companies of both countries the opportunity to discuss major investment opportunities in various sectors. There will also be an opportunity to show the progress of each country on development plans.
Al-Falih also said in his speech that 360 licenses have been issued to wholly owned French companies or joint ventures operating in Saudi Arabia.
“My records show that there are more than 110 French companies in Saudi Arabia. We have 360 licenses granted to French wholly-owned companies or joint ventures and have been present since 2020,” he added. 43 percent has increased.
According to al-Falih, French investment in the kingdom continues to increase and Saudi Arabia is ready to provide all the necessary factors to strengthen bilateral relations with France. He said that in 2022, the volume of trade between the two countries will reach 12 billion. dollar which was 47 percent higher than in 2021.
The investment minister told the forum that Saudi Arabia has become an attractive destination for investment and tourism as a result of the Vision 2030 economic reform plan.
French Foreign Trade Minister Olivier Becht said on the occasion that the two countries should work together to maintain the momentum of economic and trade relations.
He said that the common goal of France and Saudi Arabia is to promote their bilateral relations as much as possible in all aspects. The Gulf region of Saudi Arabia is the top priority for French direct investment
