Nearly 500 companies investing in Saudi Arabia, says EU Ambassador

15/07/2021 Argaam

Patrick Simonnet, EU Ambassador to Saudi Arabia  

About 500 companies are investing in various commercial businesses in Saudi Arabia, and nearly 20,000 European citizens are working in the Kingdom, Al-Eqtisadiah reported, citing Patrick Simonnet, EU Ambassador to Saudi Arabia.  

  

“EU investors tend to undertake joint economic development projects in Saudi Arabia, in line with Vision 2030, and the Kingdom’s Green Middle East initiative,” Simonnet said.  

 

“The European Union is the second trading partner of Saudi Arabia after China, with trade exchange of 40 billion euros, and it also ranked first in terms of foreign direct investments (FDIs) to Saudi Arabia,” he noted.

 

Simonnet pointed out that both parties are discussing packages of economic and trade reforms during mutual visits, and they are seeking a strategic partnership to capitalize on the Kingdom’s huge economic potential.

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