Unveiling New Horizons: Saudi-EU Investment Forum
The Saudi-EU Investment Forum, a significant initiative, was inaugurated by Saudi Investment Minister Engineer Khalid bin Al-Falih in Riyadh, marking a new chapter in Saudi-European economic relations.
Inauguration
The forum was inaugurated by Saudi Investment Minister Engineer Khalid bin Abdulaziz Al-Falih, showcasing the strengthening ties between Saudi Arabia and European Union countries.
The event, held in Riyadh, saw the participation of more than 1000 representatives from both the government and private sectors, alongside the executives of major companies from the Kingdom and EU countries.
Trade , Investments
Minister Al-Falih emphasized the strong partnership with EU countries, as over 1300 European companies are investing in the Kingdom.
The direct foreign investment from the EU showed robust growth in 2022 compared to the previous year, across various sectors.
Trade volume between the Kingdom and the EU reached 80 billion euros during the same period, representing a 30% annual growth.
Discussion Topics
During the forum, dignitaries discussed several topics including the transition to clean energy, zero-carbon industries, natural resources, transportation, infrastructure, mining, manufacturing, supply chains, tourism, culture, sports, small and medium enterprises, entrepreneurship, healthcare services, biotechnology, digital economy, and artificial intelligence.
These discussions underline the vast areas of collaboration and potential growth between Saudi Arabia and the EU.
Impact of “Locid” Project
The investment minister highlighted the impact of the “Locid” project in Saudi Arabia.
“Locid” expected to create 4000 jobs and yield exports worth 117 billion dollars.
The Saudi-EU Investment Forum is a pivotal platform fostering Saudi-European economic engagements.
It reflects the shared ambition to deepen investment ties and explore new avenues of cooperation for mutual benefit.
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