The Saudi-French Investment Forum, held in Paris, has successfully generated immense interest and extraordinary participation from both Saudi and French representatives.
According to both French and Saudi sources, the visit by Saudi Crown Prince Mohammed bin Salman to Paris had the most significant impact in providing a fresh prominence to the forum.
Crown Prince Mohammed bin Salman had launched the Kingdom’s Vision 2030 and the extensive projects it entails across diverse sectors, aligning with Saudi Arabia’s investment capabilities and the importance of the Saudi market in terms of value and size.
The forum itself is just one component of “Saudi Days in France,” which commenced with a closed-door meeting between the Crown Prince and President Emmanuel Macron. This was subsequently followed by an expanded gathering that included members from both delegations.
It was evident that the Elysee Summit, held last Friday, sparked a strong momentum towards enhancing Saudi-French relations across various sectors, including key strategic sectors.
While the statement issued by the Elysee Palace enumerated the collaborative sectors that both parties are pursuing, it emphasized their shared desire to extend cooperation and partnerships to broader domains.
It also underscored France’s commitment, both from the government and private institutions, to “accompany” Saudi Arabia in its major projects across all fields.
It is no secret that the primary objective of the forum revolves around revitalizing existing partnerships and forging new ones within the private sector of both the Kingdom and France. This includes exploring new investment opportunities across various sectors.
While Saudi Arabia is setting orientations that diligently strive to diversify its economy and prepare for a post-oil era, France also has its own Vision 2030 and a compass pointing toward "green economy" and sustainable development.
There are many similarities between the two plans.
The investment forum’s proceedings delved into exploring joint investment opportunities in sectors such as technology, culture, tourism, hospitality, energy, and construction. All of this was aimed at entering mutually beneficial partnerships for both parties.
The speeches delivered by the Saudi Ministers of Investment, Tourism, and Communications were characterized by utmost clarity in expressing Saudi Arabia’s progressive orientations.
At the forefront of these orientations is the facilitation of investors' endeavors and the firm affirmation that all sectors are open to partnerships and collaboration.
Like other countries, France requires hundreds of billions of dollars in investments as it pursues goals pertaining to green economy, carbon-neutral industries, clean energy, and sustainable development.
France views these endeavors as significant opportunities for Saudi investors within the framework of partnership, development, and collaboration.