Saudi Investment Minister Khalid al-Falih confirmed that Turkish direct investment in the Kingdom exceeds $2 billion and is concentrated in the manufacturing and real estate sectors, as well as many other activities, demonstrating that the Saudi and Turkish economies are characterized by integration rather than competition. He explained at the Saudi-Turkish Investment Forum held in Riyadh today (Tuesday) that the number of Turkish companies operating in Saudi Arabia will reach 1,473 by the end of 2025.
Mr. Al-Falih pointed out that the trade exchange value between the two countries has reached $8 billion, achieving a growth of 14% within a year, which reflects the strength of economic and trade relations between the two countries. He noted that Saudi Arabia and Turkey together account for approximately 50% of the region’s gross domestic product, highlighting that the Kingdom has attracted more than 700 global multinational companies with regional headquarters in Saudi Arabia, and that the Kingdom offers promising and easy investment opportunities in multiple sectors through avenues including privatization and public-private partnerships.
Turkish Trade Minister Omer Porat acknowledged that Turkish contractors are implementing more than 330 projects in Saudi Arabia with a total value of more than $32 billion, and noted that Ankara and Riyadh aim to increase bilateral trade to $30 billion in the medium term. He explained that despite global challenges, Turkey’s economy has continued to grow steadily over the past few years, making it more attractive for foreign investment.
Foreign Minister Porat pointed out the importance of Saudi Arabia as a vital economic partner for Turkey, especially in the field of energy and renewable energy, and stressed that there are wide opportunities to launch new strategic projects to strengthen economic cooperation between the two countries in the next stage.
Saudi Investment Minister Khalid al-Falih acknowledged that Turkish direct investment in the Kingdom exceeds $2 billion and is concentrated in the manufacturing and real estate sectors, along with several other activities, indicating that the Saudi and Turkish economies are characterized by integration rather than competition. He explained at the Saudi-Turkish Investment Forum held in Riyadh today (Tuesday) that the number of Turkish companies operating in Saudi Arabia will reach 1,473 by the end of 2025.
Mr. Al Falih pointed out that the trade volume between the two countries reached $8 billion, achieving a growth rate of 14% within a year, reflecting the strength of economic and trade relations between the two countries. He pointed out that Saudi Arabia and Turkey together account for about 50% of the region’s GDP, highlighting that Saudi Arabia offers promising and easy investment opportunities in various sectors through channels including privatization and public-private partnerships, in addition to attracting more than 700 multinational companies with regional headquarters in Saudi Arabia.
Turkish Trade Minister Omar Porat confirmed that Turkish contractors are implementing more than 330 projects in Saudi Arabia with a total value of more than $32 billion, noting that Ankara and Riyadh aim to increase bilateral trade volume to $30 billion in the medium term. He explained that despite global challenges, Turkey’s economy has continued to grow steadily over the past few years, making it more attractive for foreign investment.
Mr. Porat pointed out the importance of Saudi Arabia as a major economic partner for Turkey, especially in the field of energy and renewable energy, and emphasized that there are wide opportunities to launch new strategic projects that will strengthen the economic partnership between the two countries in the next stage.
