"Familiarizing ourselves with the opportunities, statistics and sectoral data created a great will [for investments], and we reached an agreement with at least 15 Russian companies to continue dialogue after the forum," Mofti said.
He added that a number of memorandums were signed, and that licenses were issued to several companies, including a consulting firm that would help Russian investors get acquainted with the situation in the Saudi market.
"Given the Vision 2030 [the Saudi authorities' strategy], which contains a lot of investment opportunities in Saudi Arabia in many priority areas, from the petrochemical industry to the health, science and industry, there are a number of Russian companies in all these industries that can come and benefit the Saudi economy, help to diversify it," Mofti said.
The Saudi partners have already noticed a significant increase in economic cooperation between the two countries, as well as in the number of investment licenses issued to Russian companies.
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The SPIEF, held annually in Russia's second largest city of St. Petersburg, is a major global platform for communication between business representatives and the discussion of crucial economic issues. The event began on Thursday and will continue through Saturday.
Sputnik, a multimedia international news and information agency, is the official media partner of the forum.