Saudi, British finance ministers sign MoUs, discuss investment opportunities

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Saudi Finance Minister Mohammed al-Jadaan and Britain’s Chancellor of the Exchequer Jeremy Hunt held a meeting earlier this week during which they signed a number of Memorandum of Understandings.

Al-Jadaan, who was on an official visit to the United Kingdom, met Hunt on December 20, the official Saudi Press Agency (SPA) reported Wednesday evening.

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During the meeting, bilateral relations between both countries were discussed along with major global economic issues as well as the promising outlook of Saudi Arabia’s economy.

“The meeting witnessed the signing ceremony of a memorandum of understanding between the two sides that aims to highlight opportunities, exchange experiences, and enhance cooperation between the two countries in the fields of financial development and public finance services,” SPA said.

During his visit, al-Jadaan said on his official Twitter account that he met with the British Minister of Investment Lord Johnson “where we discussed the economic and financial relations, focusing on promoting investment in the Kingdom.”

The Saudi economy and the reforms led by Vision 2030 were on the table of discussions during a sit-down with a number of investors and CEOs.

“In a meeting organized by the Saudi-British Joint Business Council, I met with a number of investors and CEOs, where the discussion focused on Saudi Arabia’s promising economic prospects and its ongoing plans for economic and financial reforms under Saudi Vision 2030,” the minister said in a tweet.

Al-Jadaan also discussed investment opportunities with the Mayor of London Nicholas Lyons, “and reviewed public-private partnerships in the Kingdom with him. The two also discussed the opportunities within Privatization Program and the Saudi Partnership,” SPA reported.

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