The Saudi-Russian Investment and Business Forum, a key platform for strengthening the strategic partnership between the Russian Federation and the Kingdom of Saudi Arabia, took place in Riyadh on 1 December 2025 as part of the 9th meeting of the Joint Intergovernmental Saudi-Russian Commission on Trade, Economic, Scientific, and Technical Cooperation.
The Forum was attended by representatives of government agencies, development institutions, major businesses, and the expert community of both countries.
The co-organizers of the Forum on the Russian side were the Roscongress Foundation, the Saudi-Russian Business Council, and the Russian-Arab Business Council with the support of the Government of the Russian Federation and the Ministry of Economic Development of the Russian Federation.
Saudi Minister of Energy, His Royal Highness Prince Abdulaziz bin Salman Al Saud, delivered a welcoming address at the opening ceremony. He highlighted the high level of cooperation with Russia, emphasized the importance of trust and productive dialogue between the two countries, and expressed confidence in the further development of joint energy projects.
Addressing the participants, Deputy Prime Minister of the Russian Federation Alexander Novak underscored the significance of bilateral dialogue and invited the Saudi side to take part in the St. Petersburg International Economic Forum (SPIEF) in 2026, where the Kingdom of Saudi Arabia will be the guest country: “The Forum brought together more than 500 participants and demonstrated the strong interest of businesses from both countries in developing trade and economic relations. Russia and Saudi Arabia see enormous potential in expanding cooperation, and the conditions being created – from direct air travel to the reduction of administrative barriers – ensure further growth of joint projects. Several agreements were signed during the Forum aimed at strengthening communication and enhancing cooperation, including an intergovernmental agreement on the mutual abolition of visa requirements.”
The following documents were signed during the official part of the Forum: an intergovernmental agreement on the mutual abolition of visa requirements for holders of all types of passports, a memorandum of understanding on climate change and low-carbon development, and a memorandum of cooperation on archival affairs. These agreements create new opportunities for business, cultural, and humanitarian collaboration, and also provide an additional impetus for the implementation of joint projects in various sectors of the economy.
Following the signing ceremony, Roscongress Foundation Chairman of the Board and CEO Alexander Stuglev took Saudi Minister of Energy Abdulaziz bin Salman Al Saud and Deputy Prime Minister of the Russian Federation Alexander Novak on a tour of the exhibition. He presented some of the latest developments of Russian high-tech companies, including hybrid logistics and electromobility solutions from HYPER (Rusnano Group), interactive equipment from NexTouch, vacuum and plasma equipment technologies from Ferry Watt, engineering solutions from Reinholz, systems from Ecotermix, cybersecurity developments from Securit, unmanned aerial systems and cubesats from Geoscan, innovative solutions from Aerolife, modular construction technologies from the LSTK Frame Factory, and the RealPay fintech platform. AFK Sistema, Sberbank, and the Russian-Arab Business Council also took part in the exhibition.
The Forum business programme focused on such key areas of Saudi-Russian cooperation as investment, energy, industry, mining, infrastructure, construction, agriculture, food security, and digital technologies. The two sides paid special attention to practical opportunities for implementing joint initiatives.
Yulia Zubarik, CEO of the architectural and urban planning company Master’s Plan and adviser to the Expert and Analytical Department of the Roscongress Foundation, gave a presentation during the session ‘Saudi-Russian Opportunities in Urban Development’. She emphasized that the Roscongress Urban Hub, which is part of the SPIEF each year, will be a key platform for further cooperation between the professional communities of the two countries.
A SPIEF satellite session titled ‘How Technologies Are Changing Urban Infrastructure’, which was organized jointly with the Saudi-Russian Business Council and moderated by Sberbank Managing Director for Business Development in the Middle East and North Africa Nikolay Vukolov, also took place at the Forum. The participants discussed modern approaches to urban development, the introduction of digital solutions, intelligent transport systems, and urban management technologies.
Stuglev also held a meeting with Saudi Investment Promotion Authority (SIPA) CEO Khaled Alkhattaf during the Forum to discuss ways to further intensify cooperation and opportunities for systemically integrating the SIPA into the SPIEF 2026 programme.
The Forum programme concluded with bilateral B2B meetings, which were attended by representatives of key businesses from both countries. The direct dialogue format helped the participants identify promising areas of cooperation and outline new projects.
The event was a key step in strengthening the strategic partnership between Russia and Saudi Arabia and took place against the backdrop of preparations for a major event – the 100th anniversary of the establishment of diplomatic relations between Russia and Saudi Arabia.