Saudi-French Investment Forum in Riyadh: A Milestone in Bilateral Relations
The Saudi-French Investment Forum in Riyadh on Tuesday was a significant moment in the relationship between the two nations, as multiple memorandums of understanding and investment agreements worth billions of dollars were signed.
Aligning National Visions for a Prosperous Future
The event, coinciding with the state visit of French President Emmanuel Macron, brought together officials, policymakers, and business leaders from both countries to align their visions for a prosperous future.
Strong Ties and Enduring Economic Partnership
In his opening remarks, Saudi Minister of Investment Khalid Al-Falih welcomed French stakeholders and emphasized the strong ties between the two countries. He praised Macron as a “good friend of the Kingdom, leading a strong delegation.”
Key Agreements and Collaborations
Among the agreements signed were collaborations with French oil giant TotalEnergies and Al Jumeih Energy and Water for the Rabigh 2 solar power plant. Power purchase agreements for solar projects involved EDF, SPIC, and the Saudi Power Procurement Company.
Focus on Clean Energy and Sustainability
Macron highlighted opportunities for collaboration in clean energy, mobility, technology, culture, and artificial intelligence, emphasizing the synergy between Saudi Vision 2030 and France 2030.
Strategic Partnership and Future Cooperation
Macron and Crown Prince Mohammed bin Salman signed a strategic partnership to boost cooperation in defense, energy, and AI, aiming to achieve concrete achievements in various areas.
Historic Cooperation and Shared Values
Tuesday’s Forum built on a long history of cooperation, showcasing the strong partnership between Saudi Arabia and France based on shared history, values, and mutual respect.
French Expertise Driving Development
French expertise continues to play a significant role in Saudi Arabia’s development, from renewable energy projects to cultural cooperation in historic regions like AlUla.
Strengthening Economic Ties and Future Partnerships
The Forum emphasized the importance of strengthening economic ties between Saudi Arabia and France, highlighting shared goals of sustainability, innovation, and inclusive growth.
Inviting Collaboration and Investment
Prince Faisal bin Abdulaziz bin Ayyaf emphasized the historical ties between Saudi Arabia and France, inviting collaboration and investment to support the Kingdom’s ambitious Vision 2030.