French Investment in Saudi Arabia Doubles to SAR 63.9bn

French investment in Saudi Arabia has expanded sharply over recent years, with French direct investment stock reaching €16.3 billion (about SAR 63.9 billion) in 2024 — more than double its 2021 level — ranking France as the fourth-largest source of foreign direct investment in the Kingdom.

French investors now hold around 651 Saudi investment licenses spread across 18 sectors, including artificial intelligence, digital infrastructure, tourism, mining, culture, gaming, transport and logistics, advanced manufacturing, energy, and financial services. The spread reflects the diversification goals of Vision 2030. Overall French investment grew roughly 180% over five years, with annual inflows of about €3 billion (≈SAR 12 billion) recorded in 2023.

Bilateral trade between the two countries reached around €10–12 billion (≈SAR 40–48 billion) by 2025. During 2024–2026, the Kingdom and France signed more than 21 economic agreements and memoranda of understanding, backed by credit lines and financing facilities covering infrastructure, transportation, healthcare, electricity, aviation, tourism, entertainment, artificial intelligence, and research and development.

Financing major projects

A dedicated credit line of about US$5 billion (≈SAR 18.75 billion) was set up to finance contracts carried out by French companies in the Kingdom, focused on infrastructure, urban development, transportation, and healthcare. A separate facility of up to US$3 billion (≈SAR 11.25 billion) supports Saudi electricity and energy projects. Financing packages of around US$5 billion also back the Riyadh Metro, the Sharaan Hotel in AlUla, and rolling stock and infrastructure linked to Expo 2030 and the 2034 FIFA World Cup.

The relationship runs both ways. Saudi Arabia's Public Investment Fund has invested about €7.36 billion (≈SAR 29.1 billion) in France between 2017 and 2024, alongside an additional €8.56 billion (≈SAR 33.9 billion) cooperation framework. For residents, the growing partnership points to more jobs, projects, and services taking shape across the Kingdom in the years ahead.

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