There are over 1,100 active licenses for UK investors in Saudi Arabia, and the giga-projects and policy reforms are creating more business opportunities.

In 2022, British investment in the Saudi economy exceeded £4.3 billion.

The economic ties are also supported by educational and cultural ties.

Between 2020 and 2023, 14,000 Saudi students were studying in the UK.

During a panel appearance with Saudi Minister of Commerce, Al-Qasabi, UK Deputy Prime Minister Oliver Dowden expressed excitement about potential cooperation in sports, tourism, cultural exchanges, financial and insurance sectors between the two countries.

Al-Qasabi, representing Saudi Arabia as the second largest exporter of services in the world, also mentioned exploring new trade opportunities in technology and artificial intelligence, which Dowden noted was not specifically mentioned.

Both officials expressed optimism about increased collaborations and prosperity.

The text discusses the potential for increased collaboration between the UK and Saudi Arabia in the areas of artificial intelligence, education, and healthcare.

The UK's Minister for International Trade, Anne-Marie Trevelyan Dowden, expressed interest in the expertise in artificial intelligence in Saudi Arabia and the potential for expanding British education there.

By 2030, there should be 10 British schools in the Kingdom.

The Saudi Minister of Investment, Khalid Al-Falih, mentioned the significant investment the UK has made in Saudi Arabia, with approximately $16 billion in investment stock.

He also highlighted the attraction of over 400 global multinational companies to Saudi Arabia as their regional headquarters.

Saudi Arabia's Minister of Energy, Industry and Mineral Resources, Al-Falih, expressed pride in the 52 UK companies participating in the Saudi-British Business Forum.

He emphasized the need for Saudi Arabia to focus on under-invested sectors and tackle global challenges, including energy and technological transitions, AI, and disruptions in global supply chains.

Al-Falih emphasized the importance of green energy and building new supply chains that are efficient and utilize technology.

The Minister of Tourism, Ahmed Al-Khatib, reported a 390% increase in demand for tourism activity licenses and over 165,000 British travelers visiting Saudi Arabia in the first quarter of the year.

Since 2019, the UK has issued over 560,000 electronic visas to Saudi Arabian tourists, indicating a growing interest in visiting the UK.

The Saudi Arabian tourism authority aims to increase connectivity and expand the presence of traditional sales operators.

In 2022, the UK welcomed over 200,000 visitors from Saudi Arabia, and the forecast predicts 240,000 visits this year.

The UK's Secretary of State for Culture, Media and Sport, Lucy Frazer, stated that the UK is investing in tourism infrastructure to attract more visitors from Saudi Arabia, with a goal of increasing annual travelers from 14 million to 60 million in the next five years.

British sports stars are also starting to play in Saudi Arabia.

John Pagano, CEO of Red Sea Global, announced that the first phase of their project work will be completed by 2025, as they have already operated flights to Riyadh, Jeddah, and Dubai.

Maurits van Tol, CEO of Catalyst Technologies for Johnson Matthey, announced that they will open an office in Riyadh this year, having signed the necessary paperwork.

The office is expected to open between late summer and autumn, with staff members from Saudi Arabia and the UK.

Red Sea Global is currently working on the Red Sea International Airport project, while Johnson Matthey has traditionally catered to Saudi Arabia from their offices in Bahrain and Abu Dhabi.

Johnson Matthey, a global specialty chemicals company, is expanding its presence in Saudi Arabia (KSA) to enhance local and regional collaboration.

The expansion was discussed by the company's CEO for Europe, Middle East, and Africa, Paul van Tol, during a panel discussion titled "Powering a Greener Future" at the GREAT Futures event in Riyadh on May 13.

Van Tol highlighted Johnson Matthey's role in developing sustainable aviation fuel and other low-carbon solutions using the company's technologies.

He stated that Johnson Matthey's expansion will support KSA's efforts to diversify its energy sources and reach its sustainability goals.

The company has been working in the region for 35 years, including collaborations with the King Abdullah University of Science and Technology.

Van Tol emphasized that Johnson Matthey's mission aligns with KSA's Vision 2030, which focuses on reducing, reusing, recycling, and removing waste.

The text describes how the speaker's organization designs energy-efficient technologies and has a diverse range of technologies to convert renewable energy sources, including CO2, into synthetic aviation fuel using renewable hydrogen.