Saudi Investment & Tourism ministries to host Saudi-Spanish Forum

By Arya M Nair, Official Reporter
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Saudi Arabia
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The Saudi Ministries of Investment and Tourism will organize the Saudi-Spanish Forum in Riyadh on 5th June 2022, aiming to strengthen and expand bilateral economic relations between the two countries.

The Forum will be attended by the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, the Minister of Tourism, Mr. Ahmed bin Aqeel Al-Khateeb, and the Spanish Minister of Industry, Trade, and Tourism Ms. Maria Reyes Maroto, with the participation of senior government officials and representatives from the private sectors, and Saudi and Spanish companies.

The Saudi-Spanish Forum’s activities include dialogue sessions to discuss major projects in the Kingdom, as well as sustainable tourism, infrastructure, hospitality, innovation, and technology. It will also include bilateral sessions between private sector institutions from both sides to review aspects of cooperation and investment partnership and exchange of expertise.

It comes within the framework of the two countries’ efforts to achieve integration, benefit from the available investment potentials, and enhance bilateral economic and investment cooperation.

Last week, Saudi Aramco and Spanish energy company Repsol agreed to jointly build a synthetic fuel plant in Bilbao, using the production technology developed by Johnson Matthey and BP. According to reports, the plant will produce a sustainable synthetic drop-in fuel that can be blended for existing road vehicle engines, planes and ships.

In 2021, Saudi Arabia and Spain in partnership with the United Nations agreed to collaborate on revitalizing the tourism sector that was severely impacted by COVID-19. Saudi Arabia has been developing a slew of mega-projects including the $500 billion futuristic Neom city, the Red Sea Development Project and the Qiddiya mega entertainment and sports project in the capital Riyadh.

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