Saudi-Spanish Investment Forum reviews joint opportunities in various sectors

June 05, 2022

RIYADH — The Ministry of Investment of Saudi Arabia (MISA) Sunday hosted a Spanish investment forum attended by Minister of Environment, Water and Agriculture Abdulrahman Al Fadhli, Minister of Tourism Ahmed Al Khateeb, and Spain’s Minister for Industry, Trade and Tourism Marya Reyes Maroto.

Also attending were Spanish private sector representatives, to strengthen investment partnerships in sustainable tourism. The Forum took place on the sidelines of the 116th session of the United Nations World Tourism Organization in Jeddah.

Reflecting on the delegation’s visit, Al Fadhli said: “Saudi Arabia and Spain have historic bilateral ties dating back 60 years and today signifies our shared ambitions to seize investment opportunities and unleash growth with our tourism industries.

“This is yet further evidence of the growing confidence that businesses around the world have in Saudi Arabia as an investment destination of untapped opportunity.

“As the Kingdomwide-sweeping economic and social reforms continue to transform the Kingdom, our National Investment Strategy will continue to unlock game-changing investment opportunities in the tourism sector.”

Al Khateeb said: "I was very pleased to share our vision and plans with Spanish businesses in Riyadh today. Saudi's fast-growing tourism sector is one of the most exciting opportunities in the world.

“Last year was a record year for domestic tourism, and we are aiming to attract 70 million international and domestic visitors this year.

“We already benefit from Spain’s experience and expertise in tourism, and hope that more Spanish businesses will join the many leading international partners already working with us."

The forum follows several successful events hosted this year by the Ministry of Investment to bolster global bilateral relationships and support foreign investment attraction.

Al Khateeb and Maroto also met on the sidelines of the fifth edition of the Future Investment Initiative in October last year. Earlier this year the Saudi government announced plans to invest a further $1trn in the tourism sector over the next ten years. — SPA

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