Saudi Arabia plans to sign investment protection and promotion agreements with 12 countries including Malta, Norway, Tajikistan, Turkmenistan and Portugal as part of its efforts to attract more foreign investment.

The Council of Ministers authorised Saudi Arabian General Investment Authority to hold talks with Uruguay, Albania, Bulgaria, Georgia, Macedonia, Malta, Norway, Portugal, Slovenia, Croatia, Tajikistan and Turkmenistan to sign the agreements.

The Cabinet, chaired by Crown Prince Salman, deputy premier and minister of defense, emphasised the Gulf Cooperation Council’s role in strengthening cohesion and solidarity among its member countries.