Riyadh – Sharikat Mubasher: Taking place in Riyadh with the participation of a 70-person delegation of Thai government and private sector representatives, The Saudi-Thailand Investment Forum, which kicked off yesterday, has witnessed the signing of a Memorandum of Understanding (MoU) to establish a plant for cars spare parts manufacturing in King Abdullah Economic City (KAEC) after obtaining a license from the Ministry of Investments.

With further cooperation between the two countries, it was also announced that the Thailand Board of Investment (BOI) opened its first office in the Middle East in Riyadh, which is considered, alongside the MoU, as the most prominent output of the Forum, Ammar Altaf Assistant Deputy Minister of Investment said in an interview with Asharq Business Newspaper.

This move comes as a way to attract Thai investors to pump their investments into the Kingdom as well as create more investment opportunities for Saudi investors who are interested in launching businesses in Thailand.

 The Saudi official further expressed his wishes for this Forum to push for further cooperation in a wide array of fields between the two countries.