Saudi investment in Iran could happen ‘very quickly’ after agreement, says minister

• Iran and Saudi Arabia agreed on Friday to re-establish relations.
• Tehran and Riyadh agreed to restart diplomatic relations and reopen embassies within two months.
• There are a lot of opportunities for Saudi investments in Iran, said Al-Jadaan.

Mohammed al-Jadaan, Saudi Arabia‘s finance minister, said on Wednesday that Saudi investments in Iran could happen “quite rapidly” if an agreement is reached.

“There are a lot of opportunities for Saudi investments in Iran. We don’t see impediments as long as the terms of any agreement would be respected,” Al-Jadaan said during the Financial Sector Conference in Riyadh.

Iran and Saudi Arabia agreed on Friday to re-establish relations after years of enmity that jeopardized Gulf stability and security and fueled crises from Yemen to Syria.

According to a joint statement published by Iran, Saudi Arabia, and China, which mediated the arrangement, Tehran and Riyadh agreed to restart diplomatic relations and reopen embassies within two months.

“To focus on your economic development and focus on providing for the people in your country, you need stability, and they (Iran) need both,” Al-Jadaan said in Riyadh.

He stated that there are several prospects in Iran, as well as numerous opportunities in Saudi Arabia.

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