Saudi-French economic ties are expanding beyond traditional energy cooperation, with France seeking a larger role in the major infrastructure, technology, tourism and development projects supporting Saudi Arabia’s Vision 2030.
Saudi Arabia and France are entering a new phase of economic cooperation, with Paris seeking deeper involvement in the Kingdom’s ambitious development projects. During the visit of Saudi Crown Prince and Prime Minister Mohammed bin Salman to Paris, the two countries signed more than 21 agreements and memorandums of understanding covering a wide range of sectors.
The agreements, supported by billions of dollars in credit lines and financing facilities, span infrastructure, transportation, healthcare, electricity, aviation, tourism, entertainment, artificial intelligence and research and development.
The deals reflect France’s effort to establish its companies more firmly within Saudi Arabia’s project value chains. Rather than focusing primarily on exporting products, French businesses are increasingly using financing arrangements and credit guarantees to participate directly in major development projects.
Financing Saudi Arabia’s Major Projects
A central element of the partnership is a **$5 billion credit line** designed to finance contracts carried out by French companies in Saudi Arabia. Additional financing facilities of up to **$3 billion** will support electricity-related projects.
The Saudi Finance Ministry and **Bpifrance Assurance Export** announced the completion of arrangements for a credit line supporting existing and future contracts undertaken by French companies, particularly in infrastructure, urban development, transportation and healthcare.
Saudi Arabia’s National Development Fund also reached an understanding with French public investment bank Bpifrance to explore joint investment and financing opportunities. The cooperation will also focus on exchanging expertise in development finance and strengthening institutional and human capabilities.
Energy, Aviation and Artificial Intelligence
French companies are also expanding their presence in Saudi Arabia’s energy sector. Procurement agreements with **Saudi Aramco** worth approximately **$3.7 billion** will increase French involvement in areas including drilling and pipeline equipment.
Technology cooperation is another growing area. **Aramco Digital** and **Dassault Systèmes** agreed to cooperate on artificial intelligence, reflecting Saudi Arabia’s efforts to use advanced technology to improve productivity and operational efficiency.
In aviation, the Saudi Export-Import Bank, Saudia Group and **Crédit Agricole** signed a memorandum to arrange financing for Saudia’s purchase of new Airbus aircraft. The agreement combines French financing capabilities with Saudi credit support to help the national carrier expand its fleet.
Tourism, Entertainment and Culture
France is also looking to strengthen its role in Saudi Arabia’s rapidly growing tourism and entertainment industries.
Qiddiya Investment Company** and the French government agreed to explore the development of a mixed-use, entertainment-focused destination in France, with potential investment of around **€6 billion** over the project's development period.
Meanwhile, Saudi Arabia and France extended their partnership on **AlUla** until 2030. The cooperation covers archaeology, heritage preservation and cultural development, reinforcing France’s role in one of the Kingdom’s most important tourism initiatives.
Healthcare cooperation is also expanding. The two countries agreed to strengthen collaboration in public health, health security, healthcare governance, digital health, artificial intelligence, research and development, clinical trials and pharmaceuticals.
Separately, Saudi Arabia’s National Institute of Health reached an understanding with French pharmaceutical company **Sanofi** to support research, innovation, clinical studies and the development of potential new treatments.
A Broader Investment Partnership
Saudi economic adviser and Shura Council member **Fadl bin Saad Al-Buainain** said the Crown Prince’s visit came amid significant geopolitical challenges and changes affecting global energy security and supply chains.
He described the growing economic cooperation as part of a strategic approach that supports Saudi Arabia’s development goals while creating opportunities for French companies. According to Al-Buainain, the new financing arrangements could help accelerate Vision 2030 projects while generating long-term returns for French businesses.
He emphasized that the relationship is increasingly moving beyond the traditional exchange of products and energy.
The growing cooperation now encompasses **infrastructure, tourism, entertainment, artificial intelligence, research and economic development**, with the potential to create additional value and strengthen local industries.
Al-Buainain highlighted the AlUla and Qiddiya projects in particular, noting their importance to Saudi Arabia’s efforts to expand tourism, culture and entertainment as contributors to economic growth.
He added that Saudi Arabia has evolved from simply seeking international economic partnerships into a market that global economies are increasingly eager to enter.
Commercial law professor and adviser **Osama bin Ghanem Al-Obaidy** said the latest agreements demonstrate the depth of economic relations between Saudi Arabia and France. France is currently among the Kingdom’s largest foreign investors.
More than 650 French companies** operate in Saudi Arabia across sectors including transportation and logistics, energy, telecommunications, healthcare, technology, mining, aviation and aerospace, culture and entertainment, digital infrastructure and artificial intelligence.
The latest agreements are expected to further diversify the economic relationship and strengthen long-term cooperation between the two countries. As Saudi Arabia advances its Vision 2030 agenda, France is positioning itself as a key partner in the Kingdom’s transformation beyond oil and traditional energy.