Saudi Arabia, UK Sign MoU to Promote Investment

Economics News
Published 28 Oct 2021
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Saudi Arabia, UK Sign MoU to Promote Investment

The Kingdom of Saudi Arabia and the United Kingdom signed yesterday a memorandum of understanding (MoU) at the Saudi-UK roundtable session in the presence and participation of Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih and British Minister for Investment Lord Gerry Grimstone, on the sidelines of the Fifth Future Investment Initiative (FII).
The MoU aims to promote direct investment by supporting and growing investments between the two countries in several ways, including facilitating the establishment and expansion of Saudi companies in the United Kingdom, as well as facilitating the establishment and expansion of UK companies in Saudi Arabia.
It also aims to enhance cooperation opportunities in the field of direct investment in the two countries through exchanging visits and expertise, and exchanging rules and regulations related to direct investment opportunities.
The roundtable session discussed ways to empower the two countries through public and private sector institutions on how to transform the economy to be more sustainable. It also discussed Saudi Arabia's commitment to reach net zero carbon by 2060, which shows Saudi Arabia's responsibility towards climate change issues and sustainability, and providing an appropriate environment for investors.

Last Modified Date: 28/10/2021 - 10:51 AM Saudi Arabia Time


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