The Saudi-French Investment Forum, now in progress in the French capital of Paris, witnessed the signing of 24 memorandum of understanding (MoUs) and investment agreements with a total value of around $2.9 billion, in the presence of officials from both sides.

The Forum brought together policymakers, business leaders, innovators, and major companies from both countries.

Minister of Investment of the Kingdom of Saudi Arabia Eng. Khalid bin Abdulaziz Al-Falih emphasized that the Kingdom places great importance on its relationship with the French Republic as well as all countries around the world.

He also expressed the Kingdom's eagerness to collaborate with French partners in order to launch more opportunities for cooperation between the two countries.

Furthermore, he emphasized that the success of the Saudi-French Investment Forum is a testament to the strength of Saudi-French relations and a reaffirmation of the commitment to working together towards achieving greater prosperity for both countries.

The Minister indicated that the MoUs and agreements signed during the Forum represent opportunities for increased investment and collaboration in various fields and investment sectors, including healthcare, clean energy, hospitality and culture.

In 2022, the growing trade volume between France and Saudi Arabia increased by more than 80%, reaching $11.5 billion, according to official statistics.

The report said that the total French direct investment in the Kingdom amounts to nearly $6 billion, and the number of French companies operating in Saudi Arabia has increased by 43% since 2020.