The United Kingdom (U.K.) is the second largest foreign investor in Saudi Arabia with around $16 billion in investment shares, said Minister of Investment Eng. Khalid Al-Falih during his participation at the Great Futures Initiative Conference.
During the forum at the King Abdullah Financial District, Al-Falih and the U.K.’s minister for business and trade, Lord Dominic Johnson, underscored the deep-rooted Saudi-British relations.
“The investment sector relies heavily on banks and economic ventures in the financial field,” stated Al-Falih, pointing to Saudi Arabia’s status as the fastest-growing economy over the past six years.
Johnson echoed Al-Falih’s sentiments, praising Saudi Arabia’s strides in expanding joint economic ventures. He expressed confidence in economic cooperation between the two kingdoms, foreseeing a partnership that spans decades. Johnson also emphasized the depth of bilateral relations, emphasizing the U.K.’s eagerness to contribute to Saudi Arabia’s ongoing development initiatives.
Highlighting the favorable investment climate in Saudi Arabia, Johnson lauded the Kingdom’s remarkable progress and the ease of access for investors. He spoke of exceptional opportunities awaiting U.K. investors in Saudi Arabia, emphasizing the conducive environment for economic growth and prosperity.
The Great Futures Initiative Conference concluded yesterday and saw the participation of 200 economic stakeholders and experts from both Saudi Arabia and the U.K. The conference held more than 20 bilateral ministerial meetings, 50 panel sessions with the participation of 130 speakers. Moreover, it saw the signing of 13 agreements and initiatives in 13 economic sectors, including tourism, culture, education, health, sports, investment, trade, and financial services.
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