Saudi Arabia, UK Seek Quality Investments in Key Development Sectors

Saudi Investment Ministry officials have completed a tour of the UK, where they met British counterparts and agreed to bolster qualitative investments. Both sides also agreed to support British companies willing to open regional headquarters in Saudi Arabia.

Saudi Minister of Investment Khalid bin Abdulaziz Al-Falih concluded his visit to the UK on Friday evening. He held meetings with several British officials and heads of major companies.

Al-Falih met with British Minister of Investment Lord Gerry Grimstone, Secretary of State at the Department of Business, Energy and Industrial Strategy Kwasi Kwarteng, and the Prime Minister’s Special Representative for Education Sir Steve Smith.

During the meetings, they discussed ways to enhance cooperation between the two countries in the sectors of industry, health, food processing, financial services, education, environmental protection, and technology, and the development of the main components of supply and value chains for a number of sectors.

Al-Falih also met the heads of a number of major British companies in different investment sectors and discussed their existing investments in Saudi Arabia and investment opportunities available to them in the Kingdom.

The investment minister said Saudi Arabia aims to double its investments in the UK’s healthcare sector, pointing to the Kingdom’s tendency to expand the clinical tests of new medicines in cooperation with London.

Moreover, Riyadh aims to reach neighboring markets to turn into a global financial hub, Al-Falih explained, stressing the importance of strengthening mutual ties between Riyadh and London in the financial services sector.

Al-Falih discussed several initiatives that aim to boost the investment partnership between the two sides, increase mutual investments and encourage existing projects.

The minister said that more than 600 British companies were operating in Saudi Arabia and expressed aspirations that the meetings will increase the volume of UK investments in Saudi Arabia.

Al-Falih said Saudi Vision 2030 “is an ambitious development plan that offers unprecedented investment opportunities for investors, whether they are governments, companies or individuals.”