More than 1,300 European firms have invested in Saudi Arabia: Al Falih

Saudi Minister of Investment Khalid Al Falih

Saudi Minister of Investment Khalid Al Falih said the partnership with the European Union (EU) is crucial and robust as more than 1,300 European companies have invested in the Kingdom. 

In addition, significant Saudi investments have been made in most EU countries, he stated. 

At the Saudi-EU Investment Forum held in Riyadh, Al Falih pointed out the Kingdom's significant and historic transformation, its economic diversity, and the rapid improvement of its business environment and global competitiveness. 

He clarified that foreign direct investment from the EU in the Kingdom exhibited strong growth in 2022 compared to the previous year across various sectors.  

The minister also mentioned that the trade volume between the Kingdom and the EU reached €80 billion during the same period, recording an annual growth of 30%.