Saudi Arabia, Russia compare investment notes — Saudi minister

MOSCOW, June 8. /TASS/. Representatives of relevant ministries of Saudi Arabia and Russia compared notes in the investment sphere and outlined promising areas for cooperation on the sidelines of the St. Petersburg International Economic Forum, Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef told TASS in the interview.

"I'm not, you know, well aware of the different opportunities in Russia, but I think our Ministry of Investment is very interested. We have our vice ministers here and I think also they are meeting the Ministry of Economy to identify what are the areas," the minister noted.

The global investment climate cannot be currently considered ideal but the specific feature of the industry and the mining sector is that investments there are made usually for a very long term, Al-Khorayef said.

"We encourage people to develop projects and to talk about different opportunities because there is no right time," he noted. "Globally there are always issues and challenges," the minister stressed.