Saudi Arabia and the United Kingdom have announced a $445 million economic partnership to strengthen trade and investment. The agreement, unveiled at the Great Futures Summit in London, highlights opportunities for both nations to collaborate in clean energy, finance, professional services, and education.
The investment is expected to create 187 new jobs, with 97 based in the UK and 90 in Saudi Arabia. Companies like Alfanar and International Investment Gate (IIG) are leading projects in renewable energy and property investment, demonstrating confidence in the long-term growth of both economies.
Alfanar will establish a £94 million headquarters in London, supporting its £2 billion Lighthouse Green Fuels project in Teesside, one of the world's largest sustainable aviation fuel facilities. IIG will oversee £550 million in UK assets, alongside a £60 million property fund, strengthening the financial services sector.
In Saudi Arabia, Howden will launch a reinsurance business, creating up to 30 jobs, while Control Risks is opening a Riyadh headquarters with more than 50 positions. Venture capital firm Salica Investments is also introducing a $75 million fund focused on MENA opportunities, showing rising investor interest in the region.
Education and skills development remain a key part of the partnership. Cambridge University Press and Assessment will open an office in Riyadh, supporting Saudi Arabia's Vision 2030 goal of transforming education and building human capability.
Officials from both countries emphasized that the partnership is more than trade—it represents a strategic relationship built on innovation, sustainability, and long-term prosperity.
Source: (https://www.arabnews.com/node/2614033/business-economy)