Nadin Hassan

RIYADH: Saudi Arabia is open to “quickly” investing in Iran following the restoration of diplomatic relations, according to the Kingdom’s Finance Minister Mohammed Al-Jadaan.

Saudi Arabia and Iran agreed last Friday to reassert their diplomatic ties and will reopen their respective embassies within two months. 

Speaking at the Financial Sector Conference in Riyadh, Al-Jadaan was asked when Saudi Arabia could start making “significant” investments in Iran.

“I would say quickly,” he replied, later adding: “Our aim is to have a region that is stable, able to provide for its people, and prosper, and there is no reason for that not to happen, Iran is our neighbor and has been and will continue to be for hundreds of years.”

“There are a lot of opportunities in Iran, and we provide a lot of opportunities, as long as goodwill continues,” Al-Jadaan said.

The finance minister added that as long as both sides “stick to agreements” around sovereignty and non-interference, there is no reason the relationship between the countries cannot see a “ normalization.”

“I don’t see any impediments,” Al-Jadaan added.