Saudi Gazette report

RABAT — Saudi Minister of Investment Eng. Khalid Al-Falih headed a high-level delegation, including representatives from the public and private sectors, on an official visit to Morocco.

During the visit, the minister is holding meetings with a number of ministers in the Moroccan government and a group of business leaders, to deepen investment relations. The challenges facing investors in both countries will figure high in the meetings.

Al-Falih’s visit comes within the framework of strengthening economic relations and deepening investment cooperation between Saudi Arabia and Morocco, and seizing promising and qualitative investment opportunities in various priority sectors such as renewable energy, industry, tourism, agriculture, transportation, and infrastructure. This is to achieve the aspirations of the two wise leaderships and their peoples, reflecting the fraternal relationship between them, and to enhance the economic presence of the two kingdoms.

The agenda of the meetings will also include the signing of an agreement to protect and encourage mutual investment between Saudi Arabia and Morocco. This strategic step enhances investor confidence, facilitates the flow of quality investments between the two countries, and provides the necessary protection for investors and their investments in a safe and stable investment environment.

Saudi and Moroccan companies have achieved tangible progress in cooperation and partnership, and the two countries look forward to stimulating Saudi-Moroccan investments, doubling bilateral trade between the two countries, and expanding investment sectors.

The investment system in Saudi Arabia works to enhance the presence of international companies and enable them to enter the promising Saudi market. This will achieve the strategic goals of the national economy, in line with the Kingdom's Vision 2030, which aims to diversify the economy, attract global investment, and raise the level of non-oil economies.