How Saudi Arabia and France aligned national visions for prosperity at Riyadh investment forum

Special How Saudi Arabia and France aligned national visions for prosperity at Riyadh investment forum
France’s President Emmanuel Macron noted synergies between Saudi and French visions. (AN Photo)
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Updated 03 December 2024
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How Saudi Arabia and France aligned national visions for prosperity at Riyadh investment forum

How Saudi Arabia and France aligned national visions for prosperity at Riyadh investment forum
  • Deals struck at Saudi-French Investment Forum deemed an important milestone in bilateral relations
  • French President Emmanuel Macron highlights the synergy between Saudi Vision 2030 and France 2030

RIYADH: The Saudi-French Investment Forum that took place in Riyadh on Tuesday marked an important milestone in bilateral relations, with the signing of multiple memorandums of understanding and investment agreements worth billions of dollars.

Held to coincide with the state visit of French President Emmanuel Macron, the event brought together officials, policymakers, and business leaders from both nations, aiming to align their national visions for a prosperous future.

In his opening remarks, Saudi Minister of Investment Khalid Al-Falih welcomed French stakeholders, emphasizing the strong ties between the two countries. He lauded Macron as a “good friend of the Kingdom, leading a strong delegation.”  

Al-Falih highlighted the enduring economic partnership, the breadth of sectors covered, and the presence of French companies in Saudi Arabia. “Every time there is an event involving Saudi Arabia and France, there is a special magic and attraction,” he said, noting France’s early support for Riyadh’s bid to host EXPO 2030.




In his opening remarks, Saudi Minister of Investment Khalid Al-Falih lauded Macron as a “good friend of the Kingdom, leading a strong delegation.” (Supplied)

Among the agreements signed were collaborations with French oil giant TotalEnergies and Al Jumeih Energy and Water for the Rabigh 2 solar power plant. Additionally, power purchase agreements for the Al Masa’a and Al Hnakia 2 solar projects involved EDF, SPIC, and the Saudi Power Procurement Company.  

Another major deal involved the Public Investment Fund, Saudi Investment Recycling Company (SIRC), and Veolia, focusing on waste management and recycling initiatives in the Kingdom.  

In his own remarks at the Forum, Macron highlighted opportunities for collaboration in clean energy, mobility, technology, culture, and artificial intelligence, noting the synergy between Saudi Vision 2030 and France 2030.

“For all the French business-people and investors, I want to encourage them to invest more in this country because investing here is investing in the cornerstone of the whole region,” he said.




The Saudi-French Investment Forum brought together officials, policymakers, and business leaders from both nations, aiming to align their national visions for a prosperous future. (AN Photo)

On Monday, Macron and Crown Prince Mohammed bin Salman signed a strategic partnership aimed at boosting cooperation in defense, energy, and AI. 

The partnership aims at “multiplying co-operation and concrete achievements in all areas,” the Elesee Palace said in a statement. It also includes plans to co-host a Summit for Action on AI in Paris in February, according to the Elysee.

Tuesday’s Forum built on a long history of cooperation, highlighted by reciprocal delegations at major events like VivaTech in Paris and Saudi Arabia’s LEAP conference. Al-Falih emphasized the shared history, values, and mutual respect underpinning the partnership.

“Saudis love anything French — French design, French furniture, French technology,” he said.  




A major deal involving the Public Investment Fund, Saudi Investment Recycling Company (SIRC), and Veolia, focusing on waste management and recycling initiatives in the Kingdom, was signed during the event. (AFP)

Al-Falih noted that Saudi Arabia, the Gulf Cooperation Council’s fastest-growing economy, achieved 3 billion euros in French investment in 2023. France is the Kingdom’s second-largest foreign investor.

“We are ahead of targets in overall investment, and (France) was a significant part in achieving our targets,” said Al-Falih.

“The value of our trade relations exceeded 10 billion euros last year; and with roughly 3 billion euros of French investment into the Kingdom in 2023, and the nation’s accumulated foreign direct investment in Saudi Arabia reached 17 billion euros.”

He added: “We are proud to be hosting in Saudi Arabia close to 500 leading French companies. Significantly, around 30 of these companies have established their regional headquarters here in Riyadh because their target is not just the Saudi market but to use Saudi Arabia as a platform to reach further beyond.

“We stand today as the world is changing so fast in a new era of partnership. There is alignment of our interests and complementarity in our capabilities. And we also have shared worldviews that are lifting this partnership to a new height, culminating in the signing of our strategic partnership.”




French President Emmanuel Macron speaks during the Saudi-French Investment Forum during an official visit in Riyadh on December 3, 2024. (AFP)

Green energy was a central theme, with agreements supporting renewable energy projects and emphasizing sustainability’s role in economic growth. French biopharma leader Sanofi also signed agreements to expand its healthcare projects in Saudi Arabia.  

French expertise continues to play a significant role in Saudi Arabia’s development, from Riyadh Metro to the innovative tram systems in AlUla. The historic region, home to Saudi Arabia’s cherished heritage sites, is set to welcome Macron on Wednesday, reflecting ongoing cultural cooperation led by the French Agency for AlUla Development (Afalula).

French experts have been deeply involved with development in the historic region of northwestern Saudi Arabia. “Sharaan” by Jean Nouvel and Villa Hegra by Lacaton and Vassal are just two examples of cultural and heritage cooperation.

Tuesday’s Forum hosted six panels, featuring 50 keynote speakers, and facilitated hundreds of bilateral meetings. Themes included net-zero policies, urbanization, technology, entertainment, and fostering innovation.




The Saudi-French Investment Forum hosted six panels, featuring 50 keynote speakers, and facilitated hundreds of bilateral meetings. (Supplied)

French Minister Delegate for Industry Marc Ferracci underscored the Forum’s importance in strengthening ties amid Saudi Arabia’s unprecedented transformation.

“The Kingdom is undergoing one of the biggest transformations in recent history,” Ferracci told the Forum. “And as the second largest investor in the Kingdom, France supports the Kingdom in different sectors.

“Saudi Vision 2030 and France 2030 are transformative blueprints designed to tackle the challenges of our time, creating sustainable growth for the future, and the development of smart inclusive cities,” he added.

The objectives of France’s National Vision include achieving carbon neutrality and cooperation on green energy.

Ferracci added that France views Saudi Arabia as a vital partner, emphasizing shared goals of carbon neutrality and innovation. “The forum is a testament to our economic relationship and an opportunity to shape the future of our partnership,” he said.  




Macron was received at Al-Yamamah Palace in Riyadh by Crown Prince Mohammed bin Salman on Monday. (X/@Bandaralgaloud)

The French economy is viewed as a gateway, offering access to the wider European market, making it an attractive investment destination.

“The relationship between Saudi Arabia and France is not new, rather dates back to centuries not decades,” Prince Faisal bin Abdulaziz bin Ayyaf, the mayor of Riyadh, told the Forum.

He highlighted historical milestones, including the meeting between Saudi King Faisal and French President Charles de Gaulle in 1967, which marked the debut of stronger ties, evolving through personal contacts and visits at the highest levels.

King Khalid visited France in 1978 and 1981, and King Fahd visited twice when he was crown prince, in 1975 and 1981.




Prince Faisal bin Abdulaziz bin Ayyaf, the mayor of Riyadh, highlighted historical milestones, including the meeting between Saudi King Faisal and French President Charles de Gaulle in 1967, which marked the debut of stronger ties. (AFP)

“Saudi Arabia’s Vision 2030 represents an ambitious roadmap towards a more prosperous and sustainable future,” said Prince Faisal. 

“Riyadh, as the capital of the Kingdom, plays a pivotal role in achieving that Vision. The city is undergoing an unprecedented economic developmental transformation. The city today stands as a workshop … the future is greater than what we can imagine.”

Prince Faisal highlighted the examples of King Salman Park, which aspires to be the largest urban park in the world, and New Murrabbaa, which is set to become the world’s largest urban development.

“It’s not our journey alone,” said Prince Faisal. “We invite everyone to join.”

 


Syria interim president arrives in Saudi Arabia for first foreign visit

Syria interim president arrives in Saudi Arabia for first foreign visit
Updated 9 min 24 sec ago
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Syria interim president arrives in Saudi Arabia for first foreign visit

Syria interim president arrives in Saudi Arabia for first foreign visit
  • The president is accompanied by the country’s foreign minister, Asaad Hassan Al-Shibani

DUBAI: Syria’s transitional President Ahmed Al-Sharaa arrived in Saudi Arabia on Sunday in his first foreign trip since he assumed power, local media has reported.

Syrian state news agency Sana earlier reported the president was accompanied by the country’s foreign minister, Asaad Hassan Al-Shibani. 

Al-Sharaa will meet Saudi Crown Prince Mohammed bin Salman in Riyadh, SANA reported. 

A picture posted on X by the Syrian presidency showed Al-Sharaa and his foreign minister en-route to Saudi Arabia. 

Al-Sharaa has been appointed Syria’s interim president, almost two months after his group helped topple Bashar Al-Assad.

Last month, Saudi Foreign Minister Faisal bin Farhan has visited Damascus and said the kingdom was engaged in talks with Europe and the US to help lift economic sanctions imposed on Syria that had decimated its economy. 


KSrelief’s humanitarian and relief efforts continue

KSrelief’s humanitarian and relief efforts continue
Updated 02 February 2025
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KSrelief’s humanitarian and relief efforts continue

KSrelief’s humanitarian and relief efforts continue

RIYADH: The King Salman Humanitarian Aid and Relief Center’s (KSrelief) humanitarian and relief efforts continue with the distribution of food, hygiene supplies as well as the provision of emergency transport services.

In in Ma’arrat Misrin of Syria’s Idlib Governorate, KSrelief handed out 672 food boxes and 672 hygiene kits as part of the second phase of the food aid and hygiene kit distribution project for populations affected by the earthquake in 2025.

In Lebanon’s Akkar Governorate and Miniyeh district, the aid agency during the past week distributed 175,000 bags of bread to Syrian and Palestinian refugees as well as residents of host communities. The initiative was part of the fourth phase of Al-Amal Charitable Bakery Project in the country.

In the Battagram and Buner districts of Khyber Pakhtunkhwa province, as well as the Sukkur district in Sindh province of Pakistan, 2,160 food packages were given to families in flood-affected areas as part of the Food Security Support Project 2025

Meanwhile, KSrelief delivered 125 tonnes of dates to Sudan as a gift from the Kingdom.

In north Lebanon, the KSrelief-funded ambulance service of Subul Al-Salam Social Association in the Miniyeh district carried out 61 missions during the past week, including transporting patients to and from hospitals and treating burn injuries.


Female participation in Riyadh camel racing event

Female participation in Riyadh camel racing event
Updated 02 February 2025
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Female participation in Riyadh camel racing event

Female participation in Riyadh camel racing event
  • The increase in the number of participating women camel riders has also contributed to a rise in the prizes

RIYADH: The number of women taking part in camel racing at the Custodian of the Two Holy Mosques Camel Festival this year has doubled compared to 2024, reported the Saudi Press Agency.

The increase has led the organizing committee to add a second race which includes 18 Saudi female camel riders.

Organized by the Saudi Camel Federation, the festival’s second edition kicked off on Jan. 27 at the Janadriyah Camel Race Track in Riyadh. It will end on Wednesday, Feb. 5 with total prize money of more than SR70 million ($18.7 million) awarded.

The increase in the number of participating women camel riders has also contributed to a rise in the prizes. (SPA photo)

During last year’s festival, 15 female camel riders competed, representing Britain, France, Germany, Iran, Jordan, Oman, Saudi Arabia, the UAE and Yemen.

This year has seen 30 female riders from 12 countries take part: Algeria, Bahrain, Britain, France, Germany, Oman, Poland, Saudi Arabia, Switzerland, the UAE, US and Yemen.

The increase has contributed to a rise in the prize pot, with the first-placed female rider receiving SR60,000.


Multidisciplinary art residency captures spirit of Jeddah’s Al-Balad

Multidisciplinary art residency captures spirit of Jeddah’s Al-Balad
Updated 01 February 2025
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Multidisciplinary art residency captures spirit of Jeddah’s Al-Balad

Multidisciplinary art residency captures spirit of Jeddah’s Al-Balad
  • Bait Shouaib Residency brings together diverse creatives to reflect on ‘movement’ in historic district

JEDDAH: Athr Foundation’s Bait Shouaib Arts Residency in Al-Balad district brought together a filmmaker, curator and two artists, fostering interdisciplinary collaboration over an eight-week program.

The Moving Narratives cycle explored the theme of movement through diverse lenses and transformed the historic Bait Shouaib into an active participant in the creative process.

The exhibition, which was open last month as part of this year’s Islamic Arts Biennale, welcomed visitors to witness interpretations of Jeddah’s cultural and historical essence through contemporary art.

Hayfa Algwaiz created a site-specific mobile installation in Bait Shouaib’s stairwell, or minwar. (Supplied)

Residency director and senior program manager at Athr Foundation, Ibrahim Romman, highlighted the program’s impact and told Arab News: “Each resident’s exploration of ‘movement’ became an invitation to reflect on how stories, spaces and identities shift and intersect.

“Together, their work offered a richly layered response to the theme, presenting interdisciplinary perspectives that bridged the historical with the contemporary.”

Sudanese artist Rund Alarabi has created a poetic video installation bridging the cultural and architectural legacies of the port cities of Jeddah and Suakin, Sudan.

Vietnamese curator Nhat Q. Vo centered his project around Al-Shafi’i Mosque. (Supplied)

Her project delves into the undocumented and intangible aspects of collective memory. She told Arab News: “Living between Frankfurt, Khartoum and Jeddah has fed my practice with various materials and unraveled new ways of misunderstanding. This has led me to question what I consider to be given and rethink my understanding of global and local consensus.”

Featuring sensory elements such as soundscapes composed of everyday cooking utensils, her installation forges an intimate connection to cultural memory. “Sound and moving images act as vessels that challenge our understanding of reality. They highlight overlooked aspects of our existence by infiltrating beyond our preconceived assumptions,” she said.

Filmmaker Nada Al-Mojadedi drew inspiration from Hejazi folklore to craft an immersive narrative that seamlessly blends performance, textiles and moving images. Her dual-room installation transformed her studio into a theatrical set, inviting visitors to journey through time.

Sudanese artist Rund Alarabi’s video installation bridged the architectural legacies of the port cities of Jeddah and Suakin, Sudan. (Supplied)

Al-Mojadedi explained: “I wanted to blur the lines between performer and observer, offering an intimate reflection on identity and memory.”

Speaking about her approach to the theme, she added: “For me, movement transcends the physical; it embodies the unseen — a constant, evolving force of imagination, a ‘quantum dance’ through time and space. This concept guided my exploration of Hejazi folklore, where I intertwined heritage with newly crafted urban legends.

“Immersing myself in Al-Balad’s vibrant life and stories, and inspired by my connection to Bait Shouaib and a visiting butterfly, I created Haleema, a Hejazi urban legend inspired by the untold stories of women who once lived in these spaces.”

Reflecting on her creative process, Al-Mojadedi said: “My work layers the personal with the performative, reimagining space as both a site of storytelling and an active participant in the narrative. Being part of this residency was an enriching experience that allowed us to delve into the dynamic cultural tapestry of Al-Balad and contribute our individual narratives to its enduring story.”

Similarly, another artist, Nhat Q. Vo, a Vietnamese curator and cultural worker, explored the transient histories of Jeddah’s migrant worker communities, centering his project around Al-Shafi’i Mosque, a hub of cultural exchange.

“When I arrived in Al-Balad, I was drawn to its physical environment and the untold stories of the laborers who sustain Historic Jeddah. At first, the language barrier made it difficult to connect, but my discovery of Al-Shafi’i Mosque changed everything.

“The sight of people gathering for iftar, united by faith despite their differences, inspired me to represent their stories through their shared rituals rather than words.”

Speaking about how architecture informed his creative approach, he said: “Architecture became a vessel for these narratives, a place where diverse communities converge. Using over 70 meters of fabric to replace the plastic sufra at the mosque, I allowed the material to absorb the traces of shared meals and human connection.

“The fabric, marked by food crumbs, oil stains and creases, became a tangible record of collective memory. For me, the real inspiration comes from the people whose lives and routines shape the rich tapestry of these spaces.”

Riyadh-based artist and architect, Hayfa Algwaiz, has created a site-specific mobile installation in Bait Shouaib’s stairwell, or minwar, exploring the interplay between movement, space and architectural elements.

Activating the stairwell as a dynamic participant in her narrative, she said: “The subtle movement of the mobile mirrored the ephemeral qualities of light, air and transition experienced in Al-Balad. By focusing on a single element, I was able to honor the historic significance of the space while introducing contemporary artistic interpretations.”

Elaborating on her approach, she said: “As an artist and architect, I strive to bridge the past and the present by focusing on elements that connect them, such as the framed openings in historic structures like Bait Shouaib. These openings, adorned with intricate ornamentation, are constants that I deconstruct and reconstruct to reflect our contemporary times.

“In Saudi Arabia’s rapidly changing urban landscape, I aim to spark a dialogue around what should be preserved and what can evolve. By reinterpreting traditional materials, spatial layouts and ornamentation into modern expressions, I hope to honor our cultural identity while embracing the future.”

Animated by natural airflow, her installation reflects the residency’s ethos of bridging tradition with innovation.

“Architecture has the potential to transform into a living, breathing entity, and I sought to capture that essence,” she said.

 


Saudi ambassador meets member of Mauritius National Assembly

Saudi ambassador meets member of Mauritius National Assembly
Updated 01 February 2025
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Saudi ambassador meets member of Mauritius National Assembly

Saudi ambassador meets member of Mauritius National Assembly
  • They discussed bilateral relations and ways to enhance them, as well as other topics of common interest

PORT LOUIS: Saudi Ambassador to Mauritius Fayez bin Meshal Al-Temyat recently met with Rubna Daureeawo, member of the Mauritius National Assembly​, according to a post on the Saudi embassy’s account on X.

During the meeting, they discussed bilateral relations and ways to enhance them, as well as other topics of common interest.

In a separate meeting, Al-Temyat met with Shirin Aumeeruddy-Cziffra, speaker of the national assembly, and discussed relations between Saudi Arabia and Mauritius and ways to strengthen them.