On the sidelines of the St. Petersburg International Economic Forum, which was recently held in the Russian Federation and has just concluded, Russian President Vladimir Putin received members of the Saudi delegation, which was on an official visit to the Russian Federation, led by Prince Saud bin Khalid Al Faisal, head of the Kingdom’s delegation and Deputy Governor of the General Investment Authority for Investment Affairs, During the meeting, he emphasized the importance of partnerships between the Russian fund and Gulf countries in general, including a partnership with the Kingdom’s Public Investment Fund.

During the trip, Prince Saud bin Khalid Al Faisal revealed, during several meetings he held with the heads of major Russian companies in a number of industrial fields, as well as in investment and financial services and the commercial sector, that leading international companies in these fields are granted a 100% license, to highlight investment opportunities and the advantages of investing in the Kingdom. He also invited Russian companies to invest in the Kingdom and expand their existing partnerships there.

The Kingdom’s delegation participated in a number of the forum’s meetings, seminars, and working sessions in the fields of trade, the economy, investment, alternative energy, information technology, and infrastructure, with the delegation comprising representatives from the General Investment Authority, the Ministry of Economy and Planning, the Royal Commission for Jubail and Yanbu, and the Public Investment Fund.

The delegation also participated in a meeting of international members of the Board of Directors of the Russian Direct Investment Fund, attended by the heads of sovereign wealth funds from partner countries and leading international investors, during which it presented an overview of the Russian Investment Fund’s activities and projects in Russia and abroad.