Saudi Arabia, UK Seal $5.3bn Investment Deal at London Summit

Saudi Arabia and UK have signed $5.3bn deals at GREAT FUTURES London summit, marking the most important milestone in their bilateral economic relations. The conference ended with 38 agreements and announcements. The largest Saudi trade delegation to date participated with 195 business leaders and 33 government officials.

The new joint investments of over £360 million ($457 million) will create 187 jobs in both nations, with 97 positions in the UK. Prince Mohammed bin Salman bin Abdulaziz Al Saud and UK Prime Minister Keir Starmer co-chaired the fifth meeting of the economic and social pillar of the Saudi-UK Strategic Partnership Council during this summit. We supported clean energy and professional and financial services sectors through these investments. This strengthens UK’s position as a business hub for international investment and contributes to Saudi Arabia’s economic diversification and future investment initiatives.

UK and Saudi Arabia announce $5.3bn investment deal

The UK and Saudi Arabia have created a massive economic partnership worth £360 million ($5.3 billion). Both countries announced joint investments at the GREAT FUTURES Summit in London. This marks a big expansion in business relationships between the two nations.

Deal revealed at GREAT FUTURES Summit in London

The announcement came on September 3 at the GREAT FUTURES Leadership Summit. This coincided with the fifth meeting of the economic and social pillar of the Saudi-UK Strategic Partnership Council. The summit drew record-breaking attendance. Saudi Arabia sent its largest trade delegation ever, with 195 business leaders and 33 government officials. More than 320 British company representatives and about 30 UK government officials also attended.

Both nations signed 38 separate deals. These established a new Saudi-UK Strategic Partnership that connects UK’s modern industrial strategy with Saudi Vision 2030. The partnership focuses on five key areas:

• Financial connectivity
• Life sciences and health tech
• Industrial growth
• Creative industries
• Innovation in education

187 jobs created across both nations

This investment package will create 187 new jobs in both countries. The UK will gain 97 of these positions. These jobs support clean energy and professional and financial services sectors.

The economic collaboration builds on strong momentum. Since May 2024, the GREAT FUTURES initiative has secured deals worth over £3.7 billion. This has created more than 4,100 jobs in the UK.

Partnership hailed as vote of confidence in UK economy

Business and Trade Secretary Jonathan Reynolds said these new investments show “not only a major vote of confidence in our economy but demonstrate our thriving partnership with Saudi Arabia”. He highlighted how UK’s modern Industrial Strategy gives investors confidence for long-term planning. This contributes to economic growth as part of the government’s Plan for Change.

Saudi Minister of Commerce Dr. Majid Al-Kassabi shared similar thoughts. He called the summit “a defining moment in our strategic partnership with the United Kingdom, demonstrating how Vision 2030 and the UK’s Industrial Strategy create unprecedented opportunities for mutual prosperity”.

Both countries aim to reach £30 billion in bilateral trade by 2030. Current trade already exceeds £16 billion in 2024.

Which sectors benefit from the new investments?

Saudi-UK partnership investments create growth opportunities in both economies through targeted capital deployment and knowledge sharing across multiple key sectors.

Clean energy projects led by Alfanar

Alfanar, a leading Saudi industrial group, has chosen London for its new UK headquarters. This global hub focuses on transport decarbonization with a £94 million investment that will add 80 skilled jobs. The headquarters will support the £2 billion Lighthouse Green Fuels project in Teesside. This facility will become the world’s largest Sustainable Aviation Fuels (SAF) installation. The project has reached its advanced FEED (Front End Engineering Design) stage. It will convert one million tons of waste into 180 million liters of SAF each year. This project supports both UK’s net-zero goals and Saudi Vision 2030’s green energy initiatives.

Financial services expansion through IIG and Howden

International Investment Gate (IIG) has established its European headquarters in London. A 17-member team will manage £550 million of UK assets and a new £60 million UK property fund. Howden, the global insurance intermediary group, received approval to start a reinsurance operation in Saudi Arabia. This multi-million-pound growth could create up to 30 new jobs. Howden now operates in 56 countries worldwide.

Education and skills development partnerships

Education partnerships lead the agreements with 13 out of 38 signed deals. Cambridge University Press and Assessment will open a Riyadh office with nine employees. These employees will help transform education in the Kingdom. The partnerships will help match educational outcomes with workplace needs through joint executive programs.

Technology and fintech growth via Paymentology and Salica

Paymentology has started operations in Riyadh after receiving commercial registration. The company invested AED 27.54 million in local hiring and cloud infrastructure. Salica Investments, a London-based venture capital firm, launched the AED 183.60 million Salica Oryx Fund I in 2021. Thirteen portfolio companies now have commercial registration in Saudi Arabia. The firm plans a second AED 275.40 million fund this year that targets the MENA region.

How does the deal align with Vision 2030 and UK Industrial Strategy?

_{Image Source: Knight Frank}

The UK’s modern Industrial Strategy and Saudi Arabia’s Vision 2030 have found common ground through a $5.3bn investment package. These frameworks naturally complement each other with shared goals across economic priorities.

State-of-the-art Solutions and Eco-friendly Practices

This mutually beneficial alliance focuses on five key areas: financial connectivity, life sciences, industrial growth, creative industries, and educational advancement. Eco-friendly investment serves as the life-blood of this partnership. Alfanar’s £94 million pledge toward transport decarbonization stands as a prime example. New memoranda of understanding expand this collaborative effort to protect marine environments, advance meteorology, and address climate change.

Support for Saudi Arabia’s economic diversification

Saudi Arabia has seen significant economic changes under Crown Prince Mohammed bin Salman’s Vision 2030 leadership. The Kingdom aims to triple its factory count from 12,000 to 36,000 by 2035. This growth creates valuable opportunities for UK businesses in advanced manufacturing. The Public Investment Fund’s Saudi Sector Development initiative has expanded from 4% to 30% of its portfolio between 2020-2024. These billions now flow into non-oil industries that attract foreign capital.

UK’s role as a business hub for international investment

Saudi companies prefer London as their primary destination for green and Islamic bonds outside the Kingdom. The London Stock Exchange has captured the entire Saudi market share across corporate and sovereign banks. Saudi entities raised AED 143.94 billion in 2025. English law governs 80% of global contracts. These factors strengthen the UK’s position as a key partner in Saudi Arabia’s economic development.

What are the broader implications for UK-Saudi relations?

The UK-Saudi partnership worth $5.3bn brings immediate economic gains and shapes the long-term strategic future of both nations.

Strengthening of bilateral trade and diplomatic ties

The Saudi-British Strategic Partnership Council acts as the life-blood of economic cooperation between both countries. This platform has delivered results through 80 active initiatives that welcome breakthroughs, strengthen businesses, and align government efforts. Lord Mayor Alastair King launched the UK-Saudi Infrastructure Assembly in Riyadh to build stronger financial and professional connections. This platform helps businesses work together more smoothly, particularly on environmentally responsible infrastructure projects. Saudi Arabia now hosts 1,689 British companies, and 75 of them have chosen Riyadh as their regional base.

Progress toward £30bn trade target by 2030

The two nations aim to reach £30 billion in bilateral trade by 2030. This is a big deal as it means that current levels of £16 billion will need to double. Trade figures have hit new records, reaching £17.3 billion. Saudi Arabia has invested over £3.7 billion since the GREAT FUTURES campaign started in May 2024, creating 4,100 new UK jobs. British direct investment in Saudi Arabia reached £18 billion by 2023.

Future investment initiative and GCC trade deal outlook

The UK and Gulf Cooperation Council have completed eight rounds of talks for a complete Free Trade Agreement. UK officials believe this deal could boost bilateral trade by 16% and add £1.6 billion to UK GDP each year. British exporters would benefit from reduced GCC tariffs, currently averaging 5.5%. The agreement could make the UK a stronger gateway to the Indo-Pacific region. The final deal will create new opportunities in emerging technologies, artificial intelligence, and cybersecurity.

The groundbreaking $5.3 billion investment deal between Saudi Arabia and the United Kingdom marks a defining moment in their relationship. Mutually beneficial alliances now span clean energy, financial services, education, and technology sectors. This shows their steadfast dedication to economic growth and sustainable development.

This partnership means much more than just numbers. It reflects a long-term vision that arranges Saudi Vision 2030 with the UK’s Industrial Strategy. Both plans emphasize innovation, sustainability, and economic diversification. These shared goals create natural synergies that benefit businesses and citizens of both nations.

The creation of 187 new jobs across both countries stands out as one of the most important outcomes. These opportunities, especially in emerging sectors like sustainable aviation fuels and financial services, will help promote knowledge transfer. They also develop skills needed for future economic resilience.

The GREAT FUTURES Summit saw unprecedented participation that expresses the growing enthusiasm for Saudi-UK business ties. Nearly 200 Saudi business leaders joined hundreds of British counterparts. This strong commercial interest goes beyond just government-level agreements.

The path toward the ambitious £30 billion bilateral trade target by 2030 looks promising. This is a big deal as it means that current trade values exceed £16 billion. The Saudi-British Strategic Partnership Council and UK-Saudi Infrastructure Assembly strengthen these economic bonds through systematic cooperation.

We have a long way to go, but we can build on this progress. This detailed partnership positions both nations well amid global economic shifts. The UK gains from Saudi capital investment and wider market access. Saudi Arabia receives valuable expertise for its economic diversification efforts. While challenges might arise, these 38 agreements create a reliable foundation for lasting collaboration across multiple sectors in the years ahead.