Wholesale investment agreements between Saudi Arabia and Turkish companies in various sectors

The Saudi Ministry of Investment announced through a tweet on its official Twitter account that it has signed more than 12 cooperation and investment agreements with major commercial and economic entities in the Turkish private sector.

The announcement came after the ministry commented on the outcomes of the Saudi-Turkish Business and Investment Forum, which was held in Istanbul at the end of last December.

The ministry confirmed that the agreements signed during the forum provide opportunities for cooperation and mutual benefit between the two countries, and also work to accelerate development in vital sectors in both countries.

The Saudi Ministry of Investment indicated that the understandings agreed upon between Saudi Arabia and Turkey will work to achieve food security between the two countries by providing high-quality products, in addition to providing a legal environment that facilitates export and investment diversification between the two countries, with increased investment in both the polyester and chemicals sectors.

It is worth mentioning that the Saudi-Turkish Business and Investment Forum, which was launched on the 21st and 22nd of last December, witnessed several meetings between the Turkish Minister of Finance and Treasury and the Saudi Minister of Investment, where both ministers agreed to raise the volume of trade exchange between the two countries to 10 billion dollars, in addition to Turkish private sector companies taking a key share in the major projects that Saudi Arabia will launch as part of the Kingdom’s Vision 2030.

Edited by: Imtilak Real Estate

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