PARIS — French foreign direct investment stock in Saudi Arabia reached SR63.9 billion (€16.3 billion) in 2024, more than doubling from its 2021 level and making France the Kingdom’s fourth-largest source of FDI, Investment Minister Fahad Al-Saif said on Monday.Al-Saif made the remarks during the Saudi-French Investment Roundtable in Paris, held as part of Crown Prince and Prime Minister Mohammed bin Salman’s state visit to France.The Ministry of Investment-organized meeting brought together senior government officials, business leaders and chief executives from major Saudi and French companies to explore investment opportunities and deepen private-sector partnerships.Al-Saif said Saudi-French relations span a century, highlighting the strong alignment between French capabilities in technology, industry, finance and innovation and the ambitions of Saudi Vision 2030.French investors currently hold 651 investment licenses across 18 sectors in the Kingdom, reflecting the growing presence of French businesses in the Saudi market.Al-Saif said Vision 2030 has transformed the Saudi economy and helped make the Kingdom one of the fastest-growing G20 economies. Saudi GDP has expanded by about 85% since 2017, rising from approximately €620 billion to €1.1 trillion last year, while non-oil activities now account for more than half of GDP.Investment has emerged as a key driver of growth and economic diversification, he said. FDI inflows into Saudi Arabia reached approximately SR23.9 billion (€6.1 billion) in the first quarter of 2026, an increase of 2.4% year on year.Al-Saif said the economic transformation has created opportunities for French companies to expand their operations in the Kingdom, particularly across energy, financial services, digital infrastructure, advanced manufacturing, transportation and logistics, gaming and tourism.Saudi-French cooperation in oil and gas already extends across conventional energy and petrochemicals, while French companies have also established a significant presence in Saudi Arabia’s transition toward cleaner energy, providing a foundation for deeper investment in renewables and related technologies.Al-Saif identified financial services as another major area for cooperation as Saudi Arabia continues to deepen and broaden its financial system. He pointed to the opening of the Main Market to all foreign investors and the position of the Saudi Exchange as the largest and most liquid equity market in the Middle East and North Africa.Growth in the wider economy and priority sectors is also expected to drive expansion in enabling industries such as financial services and insurance, creating further investment opportunities, attracting new market entrants and supporting mergers and acquisitions.Highlighting the gaming and esports industry, Al-Saif said average revenue per player in Saudi Arabia is about 7% above the global average and roughly 4.5 times the average across the Middle East and Africa.The Kingdom’s young and highly engaged market provides a strong foundation for developing Saudi intellectual property, producing content, creating specialized high-skilled jobs and building companies capable of competing globally, he added.Al-Saif said converting sector-level cooperation into long-term investment requires a strong regional base. Saudi Arabia’s Regional Headquarters Program has attracted more than 750 companies, including 39 French companies operating across eight sectors.He said the Cabinet’s recent approval concerning offshore financial activities would further strengthen Saudi Arabia’s position as a platform from which companies can manage their regional operations.Al-Saif called on French companies to identify Saudi investment opportunities where their capabilities, technologies and capital could make a contribution, while urging Saudi companies to present high-potential projects, their investment requirements and pathways toward implementation.French Economy and Finance Minister Roland Lescure, meanwhile, highlighted the strategic importance of Saudi-French cooperation, particularly in energy and logistics security.He described Saudi Arabia as a reliable partner in maintaining stability in global energy markets and said the Kingdom’s role connecting the Middle East and Europe in energy and logistics would form a cornerstone of the two countries’ shared security.Lescure also highlighted long-term reciprocal investment and pointed to the opening of a Public Investment Fund office in Paris as reflecting efforts to attract more Saudi investment into France.He emphasized the alignment between Saudi Vision 2030 and France 2030, saying the French presence in Saudi Arabia was no longer centered solely on selling products and services but increasingly involved joint production.The roundtable featured a session titled “Saudi Arabia and France: A Partnership for the Future,” focusing on prospects for cooperation and opportunities to strengthen private-sector partnerships.Strategic discussions among business leaders centered on four areas: financing and developing transformative destinations; turning industrial partnerships into executable projects; advancing transportation and logistics to strengthen economic integration; and building the digital future through artificial intelligence and digital infrastructure.Economic ties between the two countries have continued to expand. Bilateral trade reached SR44.2 billion in 2025, while French investment and corporate activity in the Kingdom have grown alongside Saudi Arabia’s broader push to attract international capital.
Keep Up to Date with our Weekly Newsletter
