Saudi Minister of Investment Fahad Al-Saif said Monday that French foreign direct investment in Saudi Arabia has reached €16.3 billion, noting that France is the Kingdom’s fourth-largest source of FDI.
He added that the presence of French companies in Saudi Arabia now spans more than 18 sectors.
Speaking at the opening of the French-Saudi Investment Roundtable hosted in Paris, which was also attended by Roland Lescure, France’s Minister of Economy, Finance and Industrial, Energy and Digital Sovereignty, Al-Saif said French companies hold around 650 investment licenses in the Kingdom.
This, he said, reflects the extent of French business activity and the growing opportunities available within the Saudi economy.
The meeting is being held as part of the official visit of Crown Prince and Prime Minister Mohammed bin Salman to France. Organized by the Ministry of Investment, it brings together government officials, business leaders, and chief executives from major companies in both countries.
Discussions focus on opportunities to expand partnerships in sectors including industry, transport and logistics, artificial intelligence, and digital infrastructure, among others. New agreements and memoranda of understanding are also expected to be signed.
Energy Tops Areas of Cooperation
The Investment Minister noted that the oil and gas sector is among the industries most likely to benefit from strengthened Saudi-French relations, given the long-standing presence of French companies in the Kingdom’s energy sector.
Cooperation also extends across the broader energy landscape, including renewable energy, hydrogen, and grid infrastructure, while French firms continue to expand their footprint in energy, industry, transport, construction, water, and services.
Energy remains one of the most prominent areas of French involvement in Saudi Arabia, alongside growing opportunities in new sectors closely linked to the Kingdom’s economic diversification drive under Vision 2030.
From Energy and Industry to Artificial Intelligence
The investment partnership between the two countries is increasingly expanding beyond traditional sectors into the new economy, particularly artificial intelligence, digital infrastructure, culture, creative industries, and mining.
The inclusion of these sectors on the roundtable agenda reflects both sides’ efforts to transform established economic ties into investment partnerships in some of the fastest-growing industries, capitalizing on rising demand in the Saudi market and the technological and industrial capabilities of French companies.
French firms are already active in sectors such as transport and logistics, water and environmental services, hospitality, and healthcare. As the Saudi economy continues to expand, additional opportunities are emerging in advanced technology and manufacturing.
