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Saudi Arabia, Djibouti sign agreement to promote and safeguard investments

Riyadh: The Kingdom of Saudi Arabia and Djibouti have signed an agreement to encourage and protect mutual investments, marking a significant step in enhancing economic cooperation between the two nations.

The agreement was signed by Saudi Minister of Investment Khalid Al-Falih and Djiboutian Secretary in Charge of Investment and Development of the Private Sector Safia Mohamed Ali Gadileh during the 28th World Investment Conference in Riyadh. The event is being held under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.

Both officials praised the agreement, emphasizing its importance in fostering collaboration between the private and government sectors of both countries. They highlighted the agreement’s role in supporting the ambitious investment initiatives currently being pursued by the Kingdom and Djibouti.

The agreement is designed to create a secure and attractive investment environment by offering key advantages such as investment protection, national treatment, fair and equitable treatment, transparency, and access to national courts or international arbitration for dispute resolution.

By ensuring these safeguards, the agreement aims to increase the volume of mutual investments across various sectors and strengthen economic ties between the two nations.