French President Emmanuel Macron described the visit of Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, to France as an important milestone in bilateral relations. “The Saudi Crown Prince’s visit to France marks an important stage,” Macron wrote on X ahead of his meeting with the Crown Prince. “Faced with the challenges in the region, France and Saudi Arabia have always worked together to promote peace and stability and will continue their consultations to this end.” Macron said the partnership was rooted in action, spanning major projects, advanced technologies, investment and international events, including the Esports World Cup held in France this summer. “We have achieved a great deal together, and we want to go further,” he added. In a second post, Macron said France was proud to have hosted the Esports World Cup “at Saudi Arabia’s request,” describing its success as the product of a shared ambition to develop talent and bring the two countries closer. Shared economic ambitions Macron’s remarks reflect not only the state of Saudi-French relations, but also their ambitions. Data from both countries show that economic ties, broadly encompassing trade, investment and other commercial activities, are expanding, with both sides seeking further growth. One aim of the Crown Prince’s visit is to accelerate those ambitions. The Crown Prince and Macron chaired the first meeting of the Saudi-French Strategic Partnership Council, established in late 2024, at the Élysée Palace on Monday. Saudi Arabia, which is moving rapidly into new strategic sectors, is seeking partnerships that build on decades of cooperation. Artificial intelligence, digital technologies, innovative and low-carbon industries and environmental sustainability are among the areas at the heart of Vision 2030. France, meanwhile, is seeking to align its economic agenda with Saudi Arabia’s and participate in the Kingdom’s major development projects. The ‘new economy’ A briefing by the Saudi Ministry of Investment highlighted the Kingdom’s economic strengths and the incentives it offers investors seeking access to the region’s largest economy. Bilateral trade reached €10.1 billion last year, up 7.2% from the previous year. French direct investment in Saudi Arabia exceeded €16 billion in 2024, spread across 18 sectors and 651 licenses. Macron has repeatedly encouraged Saudi investment in France while urging French companies to pursue opportunities in the Kingdom. French presidential sources said the planned opening of a Saudi Public Investment Fund (PIF) office in Paris could help increase the Kingdom’s still relatively modest investment in France. Paris, for its part, pointed to France’s record in attracting foreign investment. EY’s 2026 European Attractiveness Survey ranked France first in Europe for international investment projects for a seventh consecutive year, with 852 projects last year, ahead of the United Kingdom with 730 and Germany with 548. Europe’s 47 countries attracted a combined 5,026 projects. Growth attracts investment The French-Saudi Investment Roundtable held in Paris on Monday focused on investment and new opportunities, bringing together executives from major companies in both countries. French businesses have traditionally concentrated on energy, water, transport, logistics, construction, hospitality and health care in Saudi Arabia. That footprint is now expanding into AI, digital infrastructure, culture, creative industries and mining. Available figures show that the PIF invested about €7.36 billion in France between 2017 and 2024, supporting some 29,000 jobs. A financing memorandum between the PIF and state-backed Bpifrance also established a framework for €8.56 billion in new investment. Laurent Germain, CEO of engineering and infrastructure consultancy at Egis, said he attended the forum to meet clients who had traveled to Paris for the occasion and to explore opportunities for new projects. Egis has generated €300 million from its Saudi operations and employs 1,700 people there, most of them Saudis, in line with the government’s Saudization drive. Germain described the Saudi economy as highly attractive, citing growth of around 4%, above global rates. Egis intends to expand its investment in the Kingdom and continue supporting Saudi Vision 2030, launched a decade ago, he revealed. The company has worked on projects, including Qiddiya, Diriyah, AlUla and the Riyadh Metro. Florence Verzelen, executive vice president at Dassault Systèmes, similarly highlighted Saudi Arabia’s economic growth as a key attraction, saying it was among the highest in the Gulf region and globally. The €5 billion company focuses on digitalization and AI, using virtual modeling to help accelerate the transition to real-world production. Its technologies are used in aircraft and electric vehicle manufacturing, infrastructure and nuclear projects, as well as pharmaceuticals. Its Saudi clients include Aramco, railway operators, NEOM, AlUla and food producers, while it also has activities in the defense sector. Verzelen highlighted Saudi Arabia’s recognition of the importance of the digital economy and its potential for practical applications.
