Riyadh – Mubasher: The Saudi Ministry of Commerce and Investment signed seven memorandums of understanding (MoUs) with Malaysia at a total value of SAR 8 billion.

​On the sidelines of the visit of the Custodian of the Two Holy Mosques to Malaysia, the deals came in various areas, including vaccines' development, food, public transportation, aerospace, electronic appliances, and energy projects.

Moreover, the Saudi Arabian General Investment Authority awarded a Progressive Impact Corporation Berhad (PICORP) licence to work in and operate water and sewage treatment stations, according to the ministry's press release.

Trade cooperation between the two countries exceeded SAR 12 billion, while the number of projects reached 47 projects in the industrial and services sectors. The total invested capital in those projects amounted to more than SAR 2 billion.