(MENAFN - Arab News) UK Trade & Investment (UKTI) has widened its remit to include support for Saudi institutional and private investors in the UK.
Traditionally focusing on supporting British companies entering the Saudi market, this new initiative enables UKTI to showcase the best the UK has to offer in terms of investment opportunities as well, according to a UKTI press release.
In order to benefit from existing market expertise in the Saudi investor market, UKTI has brought PwC on board as an investment delivery partner.
PwC will provide advisers working wholly on behalf of the UK government for the period of the contract.
This reflects UKTI's appetite to find investors who are ready to explore opportunities across a range of sectors from the latest in innovation and Green technology to setting up European Headquarters and traditional foreign direcinvestment.
With bilateral trade in goods between the two countries up by 36 percent year on year, it is clear that businesses from both the UK and the Kingdom are keen to explore opportunities in each other's markets.
The new team of investment advisers builds on the strength of these ties and the work of the Saudi British Joint Business Council to deliver value to both countries.
Chris Innes-Hopkins, director general of UKTI Saudi Arabia at the British Embassy in Riyadh, said: "I warmly welcome this new initiative, which will allow us to provide a better service for existing and prospective Saudi investors in the UK. The UK is the number one destination for foreign direct investment in Europe, and Saudi investors are already present in a range of different sectors. My team looks forward to working with PwC to market new opportunities to our Saudi clients."