Exciting news for the UK economy! Over £360 million in new UK-Saudi investments is set to create more than 180 jobs across both nations, including 97 in the UK, Business Secretary
Jonathan Reynolds announced today at the GREAT FUTURES Summit in London.
The summit brought together business leaders and government officials to strengthen trade ties, showcase growth opportunities, and highlight collaboration between the UK’s modern Industrial Strategy and Saudi Arabia’s Vision 2030.
The new investments will focus on key sectors like clean energy, professional services, and financial services. For instance:
Alfanar is opening its UK headquarters in London, creating 80 skilled jobs to support its £2 billion Lighthouse Green Fuels project in Teesside, which is set to become the world’s largest sustainable aviation fuels facility.
International Investment Gate (IIG) is launching its European HQ in London, managing £550 million in UK assets and a new £60 million property fund.
Paymentology is expanding into Riyadh, investing $7.5 million and creating local jobs to support Saudi Arabia’s fintech growth.
Other notable projects include Howden, Control Risks, Lexham Partners & ANB Capital, and Salica Investments, all contributing to cross-border growth and talent development.
Since the launch of the GREAT FUTURES campaign in May 2024, UK-Saudi deals have already created more than 4,100 UK jobs and secured over £3.7 billion in investments. This new wave of projects reinforces the strong economic partnership between the two nations and reflects confidence in the UK’s Industrial Strategy.
Business and Trade Secretary Jonathan Reynolds said:
“Britain is a thriving business hub, and today’s new investment announcements are not only a major vote of confidence in our economy but demonstrate our thriving partnership with Saudi Arabia.
Our modern Industrial Strategy is giving investors the confidence they need to plan not just for the next year, but for the next 10 years and beyond - helping to create economic growth as part of our Plan for Change”.
H.E. Dr. Majid Al-Kassabi, Minister of Commerce for the Kingdom of Saudi Arabia said:
“Under the leadership of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, the Vision has driven profound economic transformation in the Kingdom. The Saudi-British Strategic Partnership Council stands as a key platform for deepening economic ties between the two friendly nations.
Today’s GREAT FUTURES Leadership Summit represents 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.
Over the past year we have witnessed the transformation of ambitious plans into tangible results in promising sectors that position our nations at the forefront of global innovation. As we advance our Strategic Partnership, we are not just building economic ties but forging lasting bonds that will define the future of UK-Saudi relationship”.
Stephen Hitchen, His Majesty’s Ambassador to Saudi Arabia said:
“As my first major diplomatic engagement as Ambassador to Saudi Arabia, today’s GREAT FUTURES summit perfectly captures the strength of the relationship between our two kingdoms - from groundbreaking innovation bridges to our transformative partnerships in clean technology, we’re building something far deeper than trade statistics, we’re creating lasting bonds rooted in shared vision and mutual respect that will define our relationship for generations to come”.
The summit also highlighted successes from the past year, including Saudi Arabia raising $39.2 billion via the London Stock Exchange, UK-Saudi collaborations in sports, fintech, and education, and nearly £500 million worth of contracts awarded to UK firms from Saudi giga-projects.
With trade negotiations underway between the UK and the Gulf Cooperation Council, these investments are expected to further boost trade by 16%, increase UK GDP by £1.6 billion annually, and add £600 million to UK workers’ wages.
In short, the UK-Saudi partnership isn’t just about numbers—it’s about jobs, innovation, and building lasting connections that benefit both nations.