RIYADH: French companies operating in Saudi Arabia are expected to increase by 30 percent to 40 percent as more small and medium-sized enterprises move to establish a presence in the Kingdom, according to Business France.
Speaking to Al-Eqtisadiah, Rachid Boulaouine, the agency’s Middle East and Saudi Arabia director, said about 300 French firms currently operate in the Kingdom across sectors including mining, tourism, technology and innovation. Roughly 100 major players — among them Air Liquide, Thales and TotalEnergies — already have significant operations.
He attributed the expected growth to the strength of the investment and trade relationship between the two countries, calling it a “strong bilateral partnership.”
The French official stated: “French investment in Saudi Arabia today exceeds €5 billion ($5.8 billion). We anticipate steady growth in the future, and what’s most important is the long-term nature of these investments, the partnerships based on technology transfer, local value creation, and shared industrial ambition.”
Saudi priorities aligned with French expertise
Boulaouine affirmed that the Saudi market “is witnessing remarkable development, and its priorities within Vision 2030 align perfectly with French expertise in the areas of energy transition, sustainable cities, mobility, healthcare, tourism and advanced technologies.”
He points out that French companies are already active in numerous sectors that directly support the goals of Vision 2030.
In the energy sector, French groups are contributing to key developments in renewable energy, hydrogen, and sustainable mobility, according to Boulaouine.
The French official believes that French engineering, design, and transportation companies are well-positioned to work on megaprojects such as NEOM, the Red Sea Project, and Qiddiya in the infrastructure and smart city sectors.
‘Booster Grow Global’ to accelerate expansion
The French official also expects the Booster Grow Global program, launched in the Saudi market to stimulate economic activity between the public and private sectors, to be a key factor in supporting the growth of French companies in the Kingdom.
The French government launched the program through Business France to support French startups and innovative companies in their expansion and development, as Claire Duverey-Pret, the agency’s communications and marketing consultant, previously told Al-Eqtisadiah.
The program includes an introductory tour across Saudi Arabia, focusing on four cities: Riyadh, Jeddah, Khobar, and Dammam.
The 22 French winners in the program’s fourth cycle were selected by a joint French-Saudi jury, which includes key stakeholders such as Aramco, the Saudi Communications Commission, the Ministry of Communications and Information Technology, and King Abdullah University of Science and Technology, according to Boulaouine.
He said: “The Booster Grow Global program is not just a program; it’s a journey we share with French companies ready to expand internationally. It begins with joining the initiative and defining their ambitions, continues with presenting their vision to experts and investors, connects with relevant Saudi stakeholders, and explores the market through a comprehensive familiarization tour.”
He explained that each stage of the program “is designed to transform potential into tangible opportunities, culminating in the expansion phase this coming December, where companies will solidify their local presence and build lasting partnerships for growth within the Saudi ecosystem.”
Throughout this process, Business France supports companies by helping them explore the market, understand local dynamics, and align projects with the priorities of Vision 2030.
“What makes this journey so impactful is the combination of expertise, commitment, and collaboration,” he highlighted.
Forum showcases new opportunities
The Franco-Saudi Business Forum, held under the theme “From Expo 2030 to the 2034 World Cup” in Riyadh from Nov. 23 to 25, served as a high-level platform connecting French companies with key Saudi decision-makers behind strategic projects, according to Boulaouine.
The forum highlighted tangible collaboration opportunities in smart cities, mobility, sports, culture, and major events. It also witnessed the signing of 10 memoranda of understanding within the framework of the “Global Growth” program.
The French participants in the Franco-Saudi Business Forum are leading players in several priority sectors of Vision 2030. They represent some of the most prominent European investors in Saudi Arabia and maintain a strong presence through their regional headquarters.
