Signing a memorandum of understanding to encourage investment between the governments of Saudi Arabia and Britain

Signing a memorandum of understanding to encourage investment between the governments of Saudi Arabia and Britain
Signing a memorandum of understanding to encourage investment between the governments of Saudi Arabia and Britain

Riyadh – Mubasher: The Saudi Minister of Investment, Khalid bin Abdulaziz Al-Falih, participated in the Saudi-British round table session to discuss green finance, in the presence and participation of the British Minister of Investment, Gerry Grimstone, on the sidelines of the Fifth Investment Future Forum.

The session witnessed, according to what the Ministry of Investment published through its official account on “Twitter”, the signing of a memorandum of understanding between the government of the Kingdom of Saudi Arabia represented by the Ministry of Investment and the government of the United Kingdom of Great Britain and Northern Ireland represented by the International Trade Authority.

The ministry said that the memorandum aims to encourage direct investment by supporting and growing investments between the two countries in several ways, including facilitating the establishment, expansion and encouragement of Saudi companies in the United Kingdom, as well as facilitating the establishment, expansion and encouragement of United Kingdom companies in Saudi Arabia through the United Kingdom’s International Trade Authority and the Ministry of Investment in Saudi Arabia..

The ministry added that the memorandum also aims to enhance cooperation opportunities in the fields of direct investment in the two countries through exchanging visits and experiences, and exchanging rules and regulations related to direct investment opportunities and developments in the investment environment in both countries..

Another memorandum of understanding was signed between the Ministry of Investment and a bank; HSBC To promote sustainable investment and build a system of partners in the areas of sustainability, environmental, social and institutional governance, that will exchange information and ideas on sustainable investment issues.

The session discussed ways to empower the two countries through public and private sector institutions on how to transform the economy to be more sustainable, as the Kingdom launched the Green Saudi Initiative, and the Kingdom’s commitment to reach carbon neutrality by 2060, which shows the Kingdom’s commitment to climate and sustainability issues and to provide an appropriate environment for investors..

The session also discussed ways to enhance and identify sustainable investment opportunities in the Kingdom, and how to support institutions, government agencies and the private sector in issues of climate change and the environmental, social and governance agenda, to reach carbon neutrality, while ensuring the ability of investors to play a role in the future..

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