Saudi-Spanish Business Forum Opens in Riyadh

   Riyadh, May 22, 2025, SPA -- The Saudi-Spanish Business Forum convened today in Riyadh, with the participation of Minister of Economy and Planning Faisal Alibrahim and Spanish Minister of Economy, Trade, and Business Carlos Cuerpo, and more than 300 officials and investors in attendance.
   Alibrahim stated that Saudi Arabia is confidently advancing towards a knowledge-based economy, with non-oil sectors accounting for 54.8% of the GDP in 2024, marking a historic milestone.
   He further asserted that since the launch of Vision 2030, private investments in non-oil sectors have grown by 70%, fueled by over 900 economic and structural reforms that have boosted investor confidence and streamlined the business environment.
   Cuerpo highlighted the Kingdom as Spain’s most important partner in the region, noting a 57% increase in the presence of Spanish companies in the Kingdom over the past three years. He said Spain’s current economic climate is conducive to strengthening ties with the Kingdom, as Spain has reached a record level of financial capacity, driven primarily by the tourism sector. He pointed out Spain’s strong performance in attracting renewable energy projects and advancements in research and development, particularly in AI.
   Organized by the Federation of Saudi Chambers of Commerce in collaboration with the Ministry of Economy and Planning and the Ministry of Investment, the forum saw the signing of four agreements between Saudi and Spanish companies across various economic sectors. It also featured specialized sessions and workshops focused on investment opportunities in both countries.
   -- SPA