Riyadh Mayor Highlights Saudi-French Ties at Investment

Prince Dr. Faisal bin Abdulaziz bin Ayyaf, Mayor of the Riyadh Region, highlighted the deep historical ties between Saudi Arabia and France during his address at the Saudi-French Investment Forum held in Riyadh on December 3, 2024. Speaking to a gathering of officials, business leaders, and investors from both nations, the Mayor emphasized that relations spanning more than a century have been reinforced by landmark diplomatic visits and agreements, including the 2018 visit of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, during which 19 agreements worth over $18 billion were signed across petrochemicals, water treatment, tourism, and culture. The forum, organized under the umbrella of official Saudi-French cooperation, served as a platform to showcase Riyadh’s transformative projects and to invite French investors to participate in the Kingdom’s rapidly expanding economy.

How does a city become a bridge between continents? For Riyadh, the answer lies in deliberate, sustained diplomacy and economic openness. The Saudi-French Investment Forum reflects a broader pattern of deepening European engagement with Saudi Arabia under Vision 2030, the national transformation plan championed by Crown Prince Mohammed bin Salman. By presenting Riyadh’s mega-projects, including the Riyadh Metro, Diriyah, Qiddiya, and King Salman Park, the Mayor positioned the Saudi capital as a global destination for investment, tourism, and culture. The event underscored that Saudi-French relations are not merely historical but actively shaping the future of trade, technology, and urban development.

Context and Background

What makes the Saudi-French relationship so resilient across generations? The answer begins with a shared history that stretches back more than 100 years. Prince Dr. Faisal bin Abdulaziz bin Ayyaf traced the modern chapter of this partnership to the historic visit of King Faisal bin Abdulaziz to France in 1967, where he met with President Charles de Gaulle. That meeting marked a major turning point, establishing a political and diplomatic foundation that subsequent Saudi leaders have consistently strengthened. The Mayor noted that this legacy of engagement has been carefully maintained, evolving from diplomatic gestures into concrete economic and cultural cooperation.

A second pivotal moment came in 2018, when Crown Prince Mohammed bin Salman visited France and signed 19 agreements valued at more than $18 billion. These agreements spanned vital sectors including petrochemicals, water treatment, tourism, and culture, demonstrating the breadth and depth of the commercial relationship. The Mayor emphasized that such milestones are not isolated events but part of a continuous effort to align Saudi and French interests. For international observers, this history illustrates how Saudi Arabia has cultivated long-term partnerships that transcend changes in the global economy.

The Riyadh-Paris relationship has its own distinct track, formalized through a cooperation and friendship charter signed in 1997. At that time, Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud was serving as Governor of the Riyadh Region, and his signing of the charter laid the groundwork for decades of decentralized cooperation between the two capitals. Prince Dr. Faisal highlighted that this relationship has continued to flourish, with successful partnerships established at all levels of government and business. The charter remains a living framework, adapted to new opportunities in urban development, sustainability, and knowledge exchange.

Key Details

What specific opportunities did the Mayor present to French investors? During his address, Prince Dr. Faisal bin Abdulaziz bin Ayyaf showcased Riyadh’s major projects, beginning with the Riyadh Metro, one of the largest public transport projects in the world. The Metro, a cornerstone of the city’s modernization, is designed to reduce traffic congestion, lower emissions, and provide a seamless transit network for millions of residents. The Mayor described it as a symbol of Riyadh’s commitment to smart, sustainable urbanization, and he invited French firms to participate in related infrastructure, technology, and service sectors.

Beyond transport, the Mayor pointed to cultural and entertainment initiatives such as Diriyah, Qiddiya, and King Salman Park. Diriyah, a UNESCO World Heritage site, is being developed as a global cultural and heritage destination, blending traditional Najdi architecture with modern hospitality. Qiddiya is envisioned as a world-class entertainment, sports, and arts city, while King Salman Park will become one of the largest urban parks in the world, featuring green spaces, cultural venues, and recreational facilities. Together, these projects aim to enhance the quality of life in Riyadh and position the city as a global destination for tourism, investment, and events.

Prince Dr. Faisal also extended a direct invitation to French investors, stressing that Riyadh is not only a city of the present but also a city of the future. He emphasized that the Kingdom offers a stable, business-friendly environment supported by Vision 2030 reforms, including streamlined regulations, new investment laws, and special economic zones. The forum provided a platform for French companies to explore partnerships in real estate, hospitality, renewable energy, digital infrastructure, and cultural industries. The Mayor’s message was clear: Riyadh is open for business and eager to collaborate with French expertise and capital.

International and Regional Impact

How does Saudi-French cooperation ripple across the region and beyond? The Saudi-French Investment Forum is part of a wider trend of European nations deepening their economic ties with Saudi Arabia. France has long been a key partner in energy, defense, and infrastructure, and the forum reinforced that relationship by focusing on civilian investment and sustainable development. For the wider Middle East, the event signals that Riyadh remains a hub for international capital, even amid global economic uncertainties. It also highlights Saudi Arabia’s role as a stabilizing force and a bridge between Europe and the Gulf.

Regionally, the forum comes as Saudi Arabia accelerates its economic diversification under Vision 2030. French investment in Riyadh’s mega-projects could catalyze further interest from other European and Asian investors, creating a multiplier effect. The Mayor’s emphasis on cultural and entertainment projects also aligns with Saudi Arabia’s efforts to boost tourism and soft power. By inviting French participation in Diriyah, Qiddiya, and King Salman Park, Riyadh is not only attracting capital but also fostering cross-cultural exchange. This people-to-people dimension strengthens diplomatic ties and supports the Kingdom’s goal of becoming a global destination.

Economic and Strategic Significance

Why does this forum matter for Saudi Arabia’s economic future? The Saudi-French Investment Forum underscores the Kingdom’s strategic pivot toward foreign direct investment as a driver of non-oil growth. With Vision 2030 targeting a diversified economy, partnerships with advanced economies like France are essential for technology transfer, job creation, and human capital development. The 2018 agreements worth over $18 billion set a precedent, and the current forum aims to build on that momentum by matching French expertise with Saudi opportunities. The Mayor’s presentation of Riyadh’s pipeline of projects provides a concrete roadmap for investors seeking long-term returns.

Strategically, the event reinforces Riyadh’s position as a global city and a gateway to the Middle East. French companies can use Riyadh as a base to access markets across the Gulf Cooperation Council and beyond. The focus on public transport, culture, and entertainment also aligns with Saudi Arabia’s efforts to improve livability and attract international talent. As the Kingdom prepares to host major global events, including Expo 2030 and the 2034 FIFA World Cup, investments in urban infrastructure and tourism will be critical. The forum therefore serves both immediate commercial interests and long-term strategic goals.

Vision 2030 Alignment

How does the Saudi-French Investment Forum connect to Vision 2030? The forum directly supports Vision 2030’s objectives of economic diversification, increased foreign investment, and enhanced quality of life. By showcasing projects like the Riyadh Metro, Diriyah, Qiddiya, and King Salman Park, the Mayor demonstrated how Vision 2030 is translating into tangible urban transformation. These projects are designed to create jobs, boost tourism, and position Riyadh as one of the world’s most livable cities. The invitation to French investors reflects the Vision’s emphasis on international partnerships as a catalyst for growth and innovation.

Looking ahead, the Saudi-French relationship is poised to deepen further as both nations pursue shared goals in sustainability, technology, and culture. The Mayor’s message that Riyadh is a city of the future encapsulates the optimism and ambition of Vision 2030. Under the leadership of Crown Prince Mohammed bin Salman, Saudi Arabia is building a diversified economy and a vibrant society, and partnerships with countries like France will play a vital role in that journey. The forum marks another step toward a future where Riyadh stands alongside the world’s great capitals as a center of commerce, culture, and opportunity.

20 Questions

Q1. What was the main purpose of the Saudi-French Investment Forum?

A1. The forum aimed to strengthen economic ties between Saudi Arabia and France, showcase Riyadh’s investment opportunities, and invite French companies to participate in Vision 2030 mega-projects across infrastructure, tourism, and culture.

Q2. Who represented the Riyadh Region at the forum?

A2. Prince Dr. Faisal bin Abdulaziz bin Ayyaf, Mayor of the Riyadh Region, represented Riyadh and delivered a keynote address highlighting the deep historical ties and future opportunities between the two nations.

Q3. When did the Saudi-French Investment Forum take place?

A3. The forum was held in Riyadh on December 3, 2024, bringing together officials, business leaders, and investors from Saudi Arabia and France to discuss partnership opportunities.

Q4. What historic visit marked a turning point in Saudi-French relations?

A4. King Faisal bin Abdulaziz’s visit to France in 1967, where he met with President Charles de Gaulle, marked a major turning point in Saudi-French diplomatic and economic relations.

Q5. What did Crown Prince Mohammed bin Salman achieve during his 2018 visit to France?

A5. During his 2018 visit, 19 agreements worth over $18 billion were signed across sectors including petrochemicals, water treatment, tourism, and culture, significantly expanding bilateral cooperation.

Q6. What is the significance of the 1997 cooperation charter?

A6. The cooperation and friendship charter signed in 1997, when King Salman was Governor of Riyadh, formalized Riyadh-Paris relations and established a framework for ongoing partnerships at all levels.

Q7. Which major Riyadh projects were highlighted at the forum?

A7. The Mayor highlighted the Riyadh Metro, Diriyah, Qiddiya, and King Salman Park, all designed to enhance quality of life, boost tourism, and position Riyadh as a global destination.

Q8. What is the Riyadh Metro and why is it important?

A8. The Riyadh Metro is one of the world’s largest public transport projects, designed to reduce congestion, lower emissions, and provide a modern transit network for millions of residents and visitors.

Q9. What is Diriyah and what makes it special?

A9. Diriyah is a UNESCO World Heritage site being developed as a global cultural and heritage destination, blending traditional Najdi architecture with modern hospitality, retail, and cultural venues.

Q10. What is Qiddiya and what will it offer?

A10. Qiddiya is a planned entertainment, sports, and arts city that will host theme parks, sporting facilities, cultural events, and residential areas, supporting Riyadh’s tourism and leisure ambitions.

Q11. What is King Salman Park?

A11. King Salman Park will be one of the largest urban parks in the world, featuring green spaces, cultural venues, and recreational facilities, significantly improving Riyadh’s livability and environmental quality.

Q12. How does the forum support Vision 2030?

A12. The forum supports Vision 2030 by attracting foreign investment, promoting economic diversification, creating jobs, and enhancing quality of life through international partnerships and mega-project development.

Q13. What sectors are open to French investment in Riyadh?

A13. French investors can explore opportunities in real estate, hospitality, renewable energy, digital infrastructure, cultural industries, transportation, and entertainment, among other growing sectors.

Q14. How does the forum strengthen Saudi-French diplomatic ties?

A14. By facilitating business partnerships and cultural exchange, the forum reinforces diplomatic relations and demonstrates both nations’ commitment to long-term cooperation and mutual prosperity.

Q15. What economic benefits does Saudi Arabia expect from French investment?

A15. Saudi Arabia expects technology transfer, job creation, human capital development, and increased non-oil GDP growth, all of which are central to Vision 2030’s economic diversification goals.

Q16. What role does Riyadh play as a gateway for French companies?

A16. Riyadh serves as a strategic gateway to the Gulf Cooperation Council markets, offering French companies access to a growing regional economy and a business-friendly environment supported by Vision 2030 reforms.

Q17. How does the forum reflect Saudi Arabia’s global engagement?

A17. The forum reflects Saudi Arabia’s active global engagement by attracting international partners, showcasing investment opportunities, and positioning the Kingdom as a hub for trade, culture, and innovation.

Q18. What did the Mayor say about Riyadh’s future?

A18. Prince Dr. Faisal emphasized that Riyadh is not only a city of the present but also a city of the future, inviting French investors to be part of its transformation and long-term growth story.

Q19. How do cultural projects like Diriyah support Saudi tourism?

A19. Cultural projects like Diriyah attract international visitors, showcase Saudi heritage, and contribute to the Kingdom’s goal of increasing tourism’s share of GDP under Vision 2030.

Q20. What is the expected outcome of the Saudi-French Investment Forum?

A20. The forum is expected to deepen economic cooperation, generate new investment deals, and strengthen the strategic partnership between Saudi Arabia and France in line with Vision 2030 objectives.

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