Jeddah -The Kingdom of Saudi Arabia will participate in Saint Petersburg International Economic Forum to be held in Russia on May 24-26 with a delegation to be headed by the Minister of Energy, Industry and Mineral Resources Engineer Khalid bin Abdulaziz Al-Falih including Supervisor of Public Investment Fund Yasser bin Othman Al-Rumyan, and representatives from other government agencies, along with the organization of a pavilion "Invest in the Kingdom of Saudi Arabia'' by Saudi Arabian General Investment Authority.
Engineer Al-Falih explained that Russia is one of the targeted countries to attract qualitative investments to the Saudi market, which would contribute to diversifying the productive base of the economy as a number of leading Russian companies have a global reputation in important and vital fields such as energy, space, military industries, science and culture.
He pointed out that the Kingdom has recently witnessed several reforms in its economic environment in line with its Vision 2030, whereas these reforms have contributed to improving the business and investment environment, which will enhance the attractiveness of the sectors of industry, mining, logistics, the localization of weapons industries, and investment in the development of human resources, education, culture and entertainment.
It is noteworthy that the Kingdom has signed with Russia a number of cooperation agreements on various economic and military fields, a program for the implementation of the Petroleum Cooperation Agreement, peaceful uses of atomic energy, a memorandum of understanding for cooperation in the field of housing and a memorandum of joint intent in the field of space.