Riyadh, SPA: Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih today inaugurated the Saudi-European Investment Forum, during which participants will discuss several topics, including transition to clean energy, net-zero industries, natural resources in the Kingdom, transport and infrastructure.
Princes, ministers, officials and CEOs of major companies in the Kingdom of Saudi Arabia and European Union countries, and over 1,000 representatives of the public and private sectors take part in the forum.
In his opening address, the minister talked about the important transformation the Kingdom has undertaken, its diversified economy, the rapid improvement of the business environment and its global competitiveness capabilities.
Al-Falih stressed that partnership with EU countries is important and strong, with over 1,300 European companies having invested in the Kingdom and important Saudi investments in most EU countries.
He said that EU foreign direct investment (FDI) in many sectors in the Kingdom showed strong growth in 2022 compared to the previous year, pointing out that trade between the Kingdom and the EU amounted to 80 billion euros in 2022, representing an annual growth of 30%.
Participants in the forum will also discuss issues related to mining, manufacturing, supply chains, tourism, culture, sports, small and medium enterprises and entrepreneurship, and the health sector, including service delivery, industry and biotechnology, as well as digital economy and artificial intelligence.
Workshops concerning various sectors will be held during the forum, and several partnership agreements and memorandums of understanding are expected to be reached by public and private entities.