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Signing of a Memorandum of Understanding between the Governments of the United Kingdom and the Government of the United Kingdom to promote investment

Signing of a Memorandum of Understanding between the Governments of the United Kingdom and the Government of the United Kingdom to promote investment

Hon’ble Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih attended the Saudi-British Round Table Session yesterday in the presence and participation of the Honorable British Investment Minister Jerry Grimstone to discuss green finance. On the side of the fifth investment futures forum.

The session discussed how the government should launch a Green Saudi initiative to stabilize the economy and the Kingdom’s commitment to achieve carbon neutrality by 2060, empowering both countries through public and private sector entities. Kingdom commitment to climate and sustainability issues and providing a conducive environment for investors.

The session also discussed how to promote and identify sustainable investment opportunities in the state and how to support companies, government agencies and the private sector on climate change and environmental, social and administrative agendas, and to achieve carbon neutrality. The potential of investors to play a role in the future.

The session concluded with the signing of a Memorandum of Understanding between the Government of Saudi Arabia, represented by the Ministry of Investment, and the Government of Great Britain and Northern Ireland, represented by the International Trade Commission.

It aims to promote direct investment by establishing, expanding and promoting Saudi companies in the United Kingdom, as well as supporting investment between the two countries in a number of ways, such as establishing, expanding and promoting UK companies. Through the International Trade Commission of the United Kingdom in Saudi Arabia and the Ministry of Investment in Saudi Arabia.

The purpose of this memorandum is to enhance cooperation opportunities in the direct investment sectors of the two countries by exchanging visits and experiences, and to exchange rules and regulations relating to direct investment opportunities and developments in the investment environment of both countries.

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Another Memorandum of Understanding was signed between the Ministry of Investment and HSBC to promote sustainable investment and to develop a partnership structure in the areas of sustainability and environmental, social and institutional governance for the exchange of information and ideas on sustainable investment issues.