Paris — The ongoing Saudi-French Investment Forum in Paris has overseen the signing of 24 memoranda of understanding (MoUs) and investment agreements, collectively valued at approximately $2.9 billion. Officials from both nations witnessed these significant signings.
The forum has successfully assembled policymakers, industry leaders, innovators, and substantial companies from Saudi Arabia and France, fostering bilateral relations.
Eng. Khalid bin Abdulaziz Al-Falih, the Saudi Minister of Investment, underscored the Kingdom’s high regard for its ties with France and its global allies. He expressed an eagerness to work more closely with French counterparts to unlock further cooperative opportunities between the nations.
Al-Falih emphasized that the forum’s success underscores the robust Saudi-French relations and reinforces their shared commitment to driving mutual prosperity.
The Minister noted that the MoUs and agreements forged during the forum open doors for amplified investment and collaboration across diverse sectors, such as healthcare, clean energy, hospitality, and culture.
Trade between France and Saudi Arabia experienced significant growth in 2022, with the trade volume swelling by over 80 percent to reach $11.5 billion, as per official data.
The report further indicates that French direct investment in the Kingdom is nearing the $6 billion mark, and the presence of French companies operating in Saudi Arabia has seen a substantial rise of 43% since 2020.