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Saudi Economic Growth Draws Foreign Investment
🇸🇦 Saudi Arabia /Economy & Trade

Saudi Economic Growth Draws Foreign Investment

From Asharq Al-Awsat · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Saudi Crown Prince Mohammed bin Salman's visit to France is seen as a milestone for bilateral relations, focusing on peace, stability, and economic cooperation.
  • The first meeting of the Saudi-French Strategic Partnership Council was held, aiming to accelerate economic ties in areas like AI, digital technologies, and low-carbon industries.
  • Bilateral trade reached €10.1 billion last year, with French investment in Saudi Arabia exceeding €16 billion, and Saudi Arabia plans to open an investment fund office in Paris.

French President Emmanuel Macron hailed Saudi Crown Prince and Prime Minister Mohammed bin Salman's visit to France as a significant milestone in bilateral relations, emphasizing their shared commitment to promoting peace and stability amidst regional challenges. Macron noted that the partnership is action-oriented, encompassing major projects, advanced technologies, investment, and international events.

The Saudi Crown Prince’s visit to France marks an important stage. Faced with the challenges in the region, France and Saudi Arabia have always worked together to promote peace and stability and will continue their consultations to this end.

— Emmanuel MacronDescribing the significance of the Crown Prince's visit to France.

The Crown Prince and Macron co-chaired the inaugural meeting of the Saudi-French Strategic Partnership Council, established in late 2024. This council aims to deepen economic ties and accelerate Saudi Arabia's Vision 2030 goals, focusing on strategic sectors such as artificial intelligence, digital technologies, innovative low-carbon industries, and environmental sustainability. France is keen to align its economic agenda with Saudi Arabia's and participate actively in the Kingdom's ambitious development projects.

Saudi Arabia's Ministry of Investment highlighted the Kingdom's economic strengths and investor incentives, noting that bilateral trade reached €10.1 billion last year, a 7.2% increase from the previous year. French direct investment in Saudi Arabia surpassed €16 billion in 2024, distributed across 18 sectors and 651 licenses. The planned opening of a Saudi Public Investment Fund (PIF) office in Paris is expected to further boost Saudi investment in France.

We have achieved a great deal together, and we want to go further.

— Emmanuel MacronCommenting on the progress and future potential of Saudi-French partnership.

France showcased its attractiveness for foreign investment, with EY's 2026 European Attractiveness Survey ranking it first in Europe for international investment projects for the seventh consecutive year. The survey recorded 852 projects in France last year, ahead of the United Kingdom with 730 and Germany with 548. Macron expressed pride in France hosting the Esports World Cup at Saudi Arabia's request, viewing its success as a testament to a shared ambition to develop talent and foster closer ties between the two nations.

at Saudi Arabia’s request

— Emmanuel MacronHighlighting Saudi Arabia's role in France hosting the Esports World Cup.
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Originally published by Asharq Al-Awsat. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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