The French-Saudi Investment Forum, held in Paris, witnessed the signing of 24 memorandums of understanding and investment agreements, with a total value of about $2.9 billion.
The agreements covered sectors such as clean energy, hospitality, culture, health care, manufacturing, military industries, health and education training.
French-Saudi Investment Forum: Strengthening bilateral relations
The forum was attended by policymakers, business leaders, innovators, besides leading companies from both countries.
The Saudi Minister of Investment Engineer Khalid bin Abdulaziz Al-Falih said the Kingdom is looking forward to working with French partners to launch more opportunities for cooperation between the two countries.
āThe success of the French-Saudi Investment Forum is evidence of the strength of the bilateral relations and an emphasis on working together to achieve more prosperity for the two countries,ā the minister said.
The forum also included 3 panel discussions on tourism, culture, technology, entrepreneurship and clean energy transformation.
The trade between Saudi Arabia and France has been seeing robust growth in recent years, registering a whopping 80 percent increase in 2022 to reach $11.5 billion.
Total French direct investment in the Kingdom has reached nearly $6 billion, while the number of French companies operating in the country has increased by 43 percent since 2020.
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