Saudi Arabia and the United Kingdom signed a Memorandum of Understanding, which is aimed at the promotion of direct investment between the two countries.
This includes establishing and expanding Saudi-based companies in the UK while also enabling the establishment and expansion of UK-based companies in Saudi.
The MoU is also directed at better coordination between the nations through an exchange of visits and expertise as well as exchanging of rules and regulations in direct investment opportunities.
Saudi’s investment minister Eng. Khalid Bin Abdulaziz Al-Falih and UK’s investment minister Lord Garry Grimstone signed the MoU on behalf of their countries at the Saudi-UK roundtable session.
The ministers also talked about potential methods for a more sustainable economy through the help of private and public sector institutions as well as Saudi’s commitment to touch net zero carbon by the end of 2060.
UK and Saudi Arabia sign pact to promote direct investment
- British and Saudi companies will be established and expanded in both countries.
- Exchange of visits and expertise as well as sharing of rules and regulations in direct investment opportunities part of the MoU