Business deals worth $15 bn signed at key financial summit in Saudi Arabia
Saudi Arabia on Tuesday announced that 23 investment agreements totalling more than USD 15 billion in value were signed on the first day of a three-day high-profile financial summit, being attended by Prime Minister Narendra Modi and several other world leaders.
The deals were signed on the sidelines of the Future Investment Initiative, dubbed “Davos in the desert”, which is an initiative of Saudi Crown Prince Mohammed bin Salman, who plans to diversify the Kingdom”s economy while reducing its economic dependence on petroleum products under his ambitious vision 2030 plan.
“Totaling more than USD 15 billion in value, these agreements were exchanged by signatories in a dedicated ceremony held at the Ritz-Carlton hotel in Riyadh. Coordinated under Invest Saudi,” the Saudi Arabian General Investment Authority (SAGIA) said in a statement.
