Minister of Investment: UK is the second largest foreign investor in Saudi Arabia, with about $16 billion

Engineer Khalid bin Abdulaziz Al-Falih, Minister of Investment, confirmed that the Kingdom has a permanent partnership with the United Kingdom, as the United Kingdom is the second largest foreign investor in the Kingdom with approximately $16 billion in investment shares, noting the depth of relations and the diversity of their fields.

This came during a dialogue session held today that included him and Lord Dominic Johnson, British Minister of Investment, within the activities of the “Great Futures” conference in King Abdullah Financial City in Riyadh.

Al-Falih touched on the acceleration in attracting investments and their diversification, and that many companies have chosen the Kingdom as an investment incubator, including 52% of major British companies and promising companies, which achieves the goals of the Kingdom’s Vision 2030, indicating that the Kingdom aims to increase investments by more than 3.3 billion riyals, from various sectors, The Saudi market has become one of the 10 most attractive countries in the world in 2024.

He said: “The investment sector relies heavily on banks and investment in the financial field, indicating that the Kingdom is the most accelerating economy over the past six years.

For his part, Lord Dominic Johnson, British Minister of Investment, said that the Kingdom has achieved great and widespread successes in the areas of investment between the two countries, stressing that this economic cooperation will continue for several decades to come.

He stated that the economic cooperation between the two kingdoms demonstrates the depth of relations and joint cooperation, as the United Kingdom is keen to participate in Saudi development in all fields, indicating that the remarkable development in the Kingdom and the ease of access to investment in the Saudi market, and seizing exceptional opportunities for investors is important to attract investors from the United Kingdom.

He stressed the importance of exchanging information and expertise between the two kingdoms, to enhance investments and cooperation between the two kingdoms, as the United Kingdom aims to build British schools in the Kingdom in the coming years.