Tunis, Nov 17 (IANS): Tunisian President Kais Saied received visiting Saudi Arabia's Minister of Investment Khalid Al-Falih, said a statement released by the presidency.

During the meeting on Saturday, the President praised the strength of the relations and deep-rooted cultural ties that unite Tunisia and Saudi Arabia, Xinhua news agency reported.

According to Saied, Tunisia is working to promulgate new legislation to facilitate investment procedures and pave the way for Tunisian and foreign investors.

He stressed that Tunisia encourages investors to launch projects in a healthy and favourable environment that protects both their rights and those of Tunisia.

"Tunisia has become qualified for fierce global competition to attract investments in several sectors, including renewable energy, hydrogen, logistics investments, real estate development, and tourism," said the Saudi minister in a press conference held after the meeting.

Al-Falih stressed that Saudi investors are ready to enter into these areas at the right time.

"We are optimistic about the political and economic stability and development that Tunisia has achieved," added the Saudi minister.