Saudi development fund wants to invest USD 200mn in funding projects in Serbia

Serbian Finance Minister Siniša Mali announced on his Instagram account that the Serbian government has signed a Memorandum of Understanding with the Minister of Tourism of the Kingdom of Saudi Arabia, Ahmed Al Khateeb, on the basis of which the Saudi Arabia Development Fund will finance specific projects in Serbia in the value of approximately 200 million dollars.

“By signing this Memorandum of Understanding, Serbia will continue investing in capital projects, and in this way, we will also boost the economic relations between our two countries,” Mali announced and pointed out that the document was signed in the presence of the President of Serbia, Aleksandar Vučić.

The MoU stipulates investments in the irrigation infrastructure program, the EMS transmission system operator project (phase 1) and the BIO4 campus in Belgrade.

“I am glad that we are successfully continuing our cooperation after I had the opportunity to visit Saudi Arabia late last year and speak with the Saudi Minister of Tourism, as well as the Minister of Finance. We want to establish a long-term partnership and contribute to the implementation and development of important projects in science and technology, as well as energy and agriculture. We have a lot of room for further cooperation, and this is a good start. We are opening a new chapter!” announced Mali.

(, 02.08.2023)

This post is also available in: Italiano

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top