Saudi Arabia offers all facilities and incentives to foreign investors, said Abdullah Al-Mubti, president of the Council of Saudi Chambers.

“There are no obstacles for investors in the Kingdom,” he told a conference of Saudi and Spanish businessmen and businesswomen in Riyadh.

Abdullah Al-Rasheed, president of Saudi-Spanish Business Council, said the meeting discussed a number of joint investment projects.

Representatives of more than 90 Spanish companies took part in the two-day conference.

“Many Spanish companies have expressed their willingness to invest in the Kingdom,” Al-Rasheed told a press conference, adding that it reflected the strong relations between the two countries.

Two-way trade between Saudi Arabia and Spain amounted to SR33.4 billion in 2011. Spain is the Kingdom’s 11th trading partner.

“There are 33 joint projects including 13 industries. Saudis have a 43 percent stake in joint industrial projects,” Al-Rasheed said.