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16-03-23

Saudi Arabia Willing to Invest in Iran Following Diplomatic Relations Restoration

(MENAFN) The Finance Minister of Saudi Arabia, Mohammed Al-Jadaan, has expressed the Kingdom's readiness to invest in Iran following the restoration of diplomatic relations between the two countries. The announcement came after Saudi Arabia and Iran agreed last Friday to re-establish their diplomatic ties and reopen their respective embassies within two months. Speaking at the Financial Sector Conference in Riyadh, Al-Jadaan was asked about the timeline for significant investments in Iran. He replied, “I would say quickly.”

Al-Jadaan further emphasized the importance of having a stable and prosperous region that can provide for its people. He noted that Iran is Saudi Arabia's neighbor and has been so for hundreds of years. Al-Jadaan added that there are numerous investment opportunities in Iran, and Saudi Arabia is willing to provide them as long as goodwill continues to prevail.

The Finance Minister also stressed that both countries need to adhere to agreements around sovereignty and non-interference to ensure the normalization of their relationship. Al-Jadaan stated that there are no obstacles to achieving this normalization, and he does not see any impediments to Saudi Arabia investing in Iran in the near future.

The announcement of Saudi Arabia's willingness to invest in Iran is a positive development for the region, and it highlights the potential benefits of restoring diplomatic ties between the two countries. It remains to be seen how quickly significant investments will materialize, but Al-Jadaan's remarks indicate that the process could move forward rapidly. Overall, this news bodes well for the future of the Saudi-Iran relationship and the broader stability of the Middle East.
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