Riyadh - Sharikat Mubasher: The economic ties between Saudi Arabia and Spain grew significantly, marked by a burgeoning presence of over 200 Spanish firms in the Saudi market, according to the Saudi Investment Minister Khalid Al Falih.

During his speech at the Spain-Saudi Arabia Business Meeting, Al Falih revealed that Spanish companies won more than 70 billion in contracts in the Kingdom, with the potential to grow more.

"Saudi Arabia is open to business and investment, it is willing to welcome companies and facilitate joint trade or investment contracts," Al Falih said.

The minister further highlighted the leading role of Saudi Arabia as a platform to the Middle East for Spanish companies, affirming that Saudi companies see Spain as a gateway to Europe and Latin America.

The meeting, which took place in Madrid, discussed means of enhancing bilateral opportunities across various sectors, including real estate and construction, waste and water management, renewable energy, agriculture, and food processing. It was attended by 200 Saudi and Spanish companies and included several roundtables to discuss the business climate in Saudi Arabia.

It is worth noting that Saudi Arabia participated in StartUp Olé Marbella 24, a new entrepreneurship and technological innovation event that connects entrepreneurs with investors.