World
Saudi Arabia, France partnerships play big role in achieving Vision 2030: Minister
The partnerships and investment deals between Saudi Arabia and France play a big role in helping the country achieve its Vision 2030 goals, the Kingdom’s Minister of Investment Khalid al-Falih said.
Speaking at the Saudi-French Investment Forum in Paris, al-Falih said: “In 2026, we will be celebrating 100 years of diplomatic relationship between France and Saudi Arabia. Many of Saudi Arabia’s achievements in Vision 2030 will have the fingerprints of French-Saudi partnerships.”
For the latest headlines, follow our Google News channel online or via the app.
“Both countries hold bold ambitions, and we have every reason to feel confident that our ambitions to realize Saudi Vision 2030 and France’s 2030 plan will be achieved, especially with the strong dynamic leadership that both countries enjoy under His Royal Highness Crown Prince Mohammed bin Salman, under the guidance of King Salman, and France under the guidance of Emmanuel Macron,” he added.
The French-Saudi Investment Forum, hosted by the Ministry of Investment of Saudi Arabia (MISA), will enable Saudi and French government officials and private sector companies to discuss major investment opportunities across various sectors. They will also have the chance to showcase the progress of each country on their economic development plans.
During his speech, al-Falih said that 360 licenses have been granted to wholly owned French companies or joint ventures from France that operate in Saudi Arabia.
“My records show we have more than 110 French companies in Saudi Arabia. We have 360 licenses that have been granted to wholly owned French companies or joint ventures from France that are operating in the Kingdom, with their presence expanding 43 percent since 2020,” he said.
According to al-Falih, French investments in the Kingdom continue to grow, and Saudi Arabia is ready to provide all the factors necessary to strengthen bilateral relations with France.
Trade between the two countries has amounted to $12 billion in 2022, which marked a growth of 47 percent compared to 2021, he added.
Saudi Arabia has become an attractive destination for investment and tourism as a result of the Vision 2030 economic reform plan, the minister told the forum.
For his part, France’s Minister for Foreign Trade Olivier Becht said that the two countries should continue to work together to maintain the momentum of economic and trade ties.
“The common goal of France and Saudi Arabia is to boost our bilateral ties as much as possible in all dimensions. Saudi Arabia is the leading destination for French direct investments in the Gulf region,” the French minister said.
Read more:
Saudi defense co. SCOPA signs deal with Airbus to localize helicopter manufacturing
Macron, Saudi Arabia’s Crown Prince call for end to Lebanon’s ‘political vacuum’