October 14, 2019 / 4:59 PM / a month ago

Saudi Arabia grants four investment licenses to Russian companies - Saudi minister

CAIRO (Reuters) - Saudi Arabia granted on Monday four investment licenses to Russian companies specializing in construction and real estate development, information technology, financial consulting, and architecture, the Saudi minister of commerce and investment said on Twitter.

Minister Majid Abdullah al-Qasabi said that he participated in the Saudi-Russian CEOs forum, which coincided with the Russian president’s visit to the Kingdom, and was attended by government officials, business executives and major companies in the two countries. He added that: “To strengthen our private sector partnership, 17 memorandums of understanding were signed in artificial intelligence, railway, satellites, energy, petrochemicals.”

Reporting by Nayera Abdallah and Omar Fahmy; Editing by Lisa Shumaker

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