Riyadh – Sharikat Mubasher: Saudi Arabia and Spain inked 4 private-sector agreements on Thursday during the Saudi-Spanish Business Forum in Riyadh, aiming to strengthen bilateral investment and economic cooperation.
The deals cover water infrastructure, real estate, transport technology, and telecommunications, as reported by Asharq Al Awsat.
More than 300 officials and investors from both countries attended the forum, which was organized by the Federation of Saudi Chambers in partnership with the Ministries of Economy and Planning and Investment.
Faisal Alibrahim, Saudi Economy Minister, said non-oil sectors now contribute 54.8% to the Kingdom’s GDP, crediting over 900 reforms and growing investor interest. He highlighted $3 billion in Spanish investment over the past 30 years and invited Spanish firms to join Saudi Arabia’s next economic chapter in areas like tourism, AI, and renewables.
Meanwhile, Carlos Cuerpo, Spanish Economy Minister, praised the Kingdom as Spain’s top regional partner, noting a 57% rise in Spanish corporate presence in the past three years. Khalid Al-Hogail, Business Council Chair, said the aim is to rank each other among their top 10 trading partners, citing Saudi megaprojects as key opportunities.
